Istaria Building Index

[Valareos]

Q1: What is the IBI?
A1: The IBI is an average building cost in Istaria. Much like the Dow Jones Industrial Average, this number is an indicator of economic strength within Istaria. The number can be translated into Average cost per tier per unit of construction. Because this number takes into account raw resource values, it also can be used as an economic indicator for the rest of the crafters.

Q2: How is the IBI calculated?
A2: The IBI is the average of individual building crafter indexes, which is created based on an average cost/tier based on values of raw resources. The IBI for example may be at 2.340 (2 silver, 340 copper per built unit per tier) while the Carpentry index may be at 4.000 (4 silver per built unit per tier)showing an above normal demand for carpentry service, or an increased cost of raw materials.

Q3: Ok... so you use values of raw materials to get a value for how much it costs to put a unit into a building, and average those across all building skills... But I can build a unit for much cheaper than you are showing and make a profit. Is your formula faulty?
A3: Not at all. The formulas display a break even point (0 loss, 0 profit) for a person with MINIMUM skills. If you have perfect skills for something you are doing, your break even point for building units is 1/3 of that value. You can then use the index to determine the cheapest you can do work for without losing money.

Q4: So how do you figure out the value of raw materials?
A4: This is done by using a weighted average of raw materials sold in major markets, such as Bristugo. For items there is not a definate average, such a value can be extrapolated from other sources, such as calculating transmutation costs to increase T4 to T5 resources

Q5: This is all well and good for a building crafter, but im a scalecrafter! How can i use this?
A5: This is why the index shows raw materials as well. As the rest of the indexes, it is a value per tier per raw resource. Assume you want to make a strength scale (doesnt matter what tier!) All strength scales require a certain amount at minimum skill (in this example, we will say 30) Say stone index was at 0.010 (10 copper per slab per tier) This means your scale cost is 0.300 per scale per tier. A Granite strength scale, at tier 3, would then have a fair value of 900 copper. Course, you can charge anything you want if there is a demand for it.

Remember, something that requires a 100 skill can be assumed to be T1.5 for calculations (skill+200)/200=Tier level

Because of this, you get a built in increase of value for teched items

Q6: Ok, what do you need from us?
A6: Ahh just need a list of trade centers that are normally visited, other than bristugo and major cities... Place your advice now!


----The numbers in my signature are temporary, and actually show the "Val's Equilibrium Level", which if ever reached would be the cost where 100% of players would rather do it themselves instead of pay others. It is also equal to Pawnbroker values for purchasing.------

[rizo/nawkia]

*looks and doesnt understand*....ima stick with 500s a tier for now

[Vahrokh]

The idea is nice, but you should have provided some practical numbers that all will have it easy to understand.

[Valareos]

practical numbers are coming, as soon as peeps post info i asked for, as in what major trading centers are used, besides bristugo and major cities :P

[velveeta]

not sure how to answer this one - the only trading center i know is in selen......

if you are talking bout workstations, i use which ever one is closest to what i am harvesting:
for instance, if i am doing wisps, i use the wisp island ews.
if i am doing sandstone, i use the south pars/nuthala sws, same with the bronze......
flax, i make the spools in the partial fws in kion then do the rest in the manor house on the hill....
so for me, i use whatever is handy for my needs - there have been times i have gathered and made basic resources in one place and ported to someplace else for the finished resource......

not sure if that helps...

[aine]

I am not sure I understand, either...but, like Velveeta, I use whatever is nearest, if that is what you mean. I also use guild properties for crafting, of course, as that is where our storage is.

If you mean what connies we use by which to trade goods, then I think major cities are going to have to be the answer...Aug, New Tris, Dralk...(which is kind of obvious, so I'll bet that is not what you meant).

But I must ask...(and please forgive my ignorance as it is merely that, and not intended rudeness)...what is it you are trying to do? It sounds as if you are trying to determine a price list for crafted items, but I am no real crafter, so I am not sure I am correctly interpreting, nor do I understand the initials you have listed...

[Arietna]

think the idea is to work out the minimum connie price that all will be happy with.. sort of.. primarily for construction so people know what prices they can charge/pay that most people will be happy with (both as a provider and user)

basically if I'm crafting, I can't pay more than x for y commodity or I'll make a loss if I sell the final product.. so it would help to know min values for base resources that people are actually willing to pay. Or else everyone does their own gathering.


or am I missing the point entirely?

I tried to gather raw food resources, but no one wanted to buy..

[Valareos]

Ari, you have nailed it on the head.

We are seeing a distinct lack of people offering money to have their plots built, placing a lot of builders out of work

At the same time, other crafters have been hurt, having to sell something less than its real worth

Because it is hard to put a "average" value on crafted items, especially teched ones.

By creating this "index" not only can builders see what their benchmark price is, but compare themselves to other builders.

And since these cover MOST raw resources, a market savvey crafter can use the numbers to create his OWN benchmarks.

Yes, selling of raw materials is hard to find, but their values can be extrapolated.

Say common price for a bronze bar is 10 copper. Because the BASE amount of ore to make 1 bar is 5, you can extrapolate that the index for copper and tin ore is 2 copper (0.002)

When i say major markets i Mean trade centers. People dont use the Main city consigners anymore cause of the "tattle tail syndrome"... you can search the main city connies from this very website.

On the Chaos server, a lot of trading is done out of a player owned conny in bristugo, and other communities.

its those communities i need to know to make a fair value for raw materials

[Enter]

Brist Connie pricing is easy..

Tier 1 20c
Tier 2 35c
Then add 15c for each additional Tier....

Players buy at these prices.