A few weeks back I was putting up stuff for sale in EVE. The price I was asking for the particular item in question, Warp Core Stabilizer I modules, was $25,000 ISK.
I came up with that number based on what the market seemed to be charging, how much it cost me to produce them, how they had sold in the past, and so on. With production, my basic goal is to get more money for my mineral than I would just selling them on the open market. The open market price for the minerals for me to make a stabilizer is about 8,000 ISK, so I roughly triple my mining payoff at that price.
I loaded up my ship and flew to a variety of systems, putting the stabilizers up for sale in lots of 50 or 100, depending on how busy the systems were.
After I was done, I noticed that I accidently priced a lot of 50 at 250,000 ISK rather than 25,000 ISK. The system itself was just over the border in another region, so I could not remotely adjust the price. I would have to fly out there and change it.
Not wanting to do that at the moment, I figured I would let them sit until I had time. They weren’t going anywhere, or so I figured.
But when I logged on the next day, I found that somebody had bought two of them at 250,000 ISK. The day after that I sold two more. A million ISK, the easy way. I figured I would let them ride a little longer.
Sales stagnated after that. I sold one more in another week. Eventually I went out to lower the price. Sales from a neighboring system, where I had dropped another stack of stabilizers, were steady, so I figured that the lower price was siphoning off customers.
But I did not go out there and drop the price to 25,000 ISK. In fact I raised my price all down the line, and sales have remained steady. I will be getting more than 3x my mineral investment from now on.
This is not the sort of thing you can get away with in most MMOs, where the speed of light mailman drops things off at a mailbox near you immediately (WoW or LOTRO) or where the magic and (apparently) infinitely strong broker happens to have the item right there in his pocked (EQ2).
But in EVE, where you have to go travel to pick up anything you buy, you can make money on convenience alone.