Guild Wars 2

So which exploit is currently forcing Mithril Ore to double in price over the past 3 days? I presume some exploit has been discovered to lead to such a high demand given Mithril Ore normally sits around 17c per unit and is currently at 40c per unit.

Mithril nodes changed to only respawn every 24 hours for every character so shorter supply not higher demand is the problem.

That simply isn’t true – I have mined Mithril at least 4 times in Cursed Shore in the last 24 hours from the same nodes, which would make the respawn rate at most every 6 hours.

It could simply be that people buy mithril in bulk to convert into orichalcum… maybe. XD

Orichalcum is a different story altogether – lucky if I get to farm the same node every 48 hours…

Ori spawns now only come up every 24 hours not mithril (except a few bugged ori spawns that still spawn on the old timer). As such Orichalcum prices have gone up, and mithril can be used to transmute into orichalcum. Hence the market is adjusting to the new orichalcum ore spawn time.

As a lot more people have reached lvl 80, many of them are now focusing on their crafting skills. The demand has simply skyrocketed.

IceBlink.4317:

It could simply be that people buy mithril in bulk to convert into orichalcum… maybe. XD

People have been doing that for weeks and it hasn’t led to an increase in price – the price increase over the past 2 days has been waaaay faster for that to be the explanation. Plus the cost of the mithril for full stack at 40c each would mean you would make a loss transmogrifying to orichalcum in most cases as you would need to get around 30+ orichalcum from each mystic forge attempt, which is very rare.

Demand for mithril has gone up for its use in the mystic forge for converting to orichalcum.

If you look at the cost of most other high end crafting mats (T6 fine mats, ectos, etc) you will see that they are in fact declining as people are getting mostly geared out in their primary set now and the supply is growing relative to demand.

Promega.7628:

Ori spawns now only come up every 24 hours not mithril (except a few bugged ori spawns that still spawn on the old timer). As such Orichalcum prices have gone up, and mithril can be used to transmute into orichalcum. Hence the market is adjusting to the new orichalcum ore spawn time.

Ori is only up marginally (around 15-20%) mithril is up over 100% so again this doesn’t work and cost benefit ratio on transmogrifying mithril ore is now a loss leader.

Paladine.6082:

IceBlink.4317:

It could simply be that people buy mithril in bulk to convert into orichalcum… maybe. XD

People have been doing that for weeks and it hasn’t led to an increase in price – the price increase over the past 2 days has been waaaay faster for that to be the explanation. Plus the cost of the mithril for full stack at 40c each would mean you would make a loss transmogrifying to orichalcum in most cases as you would need to get around 30+ orichalcum from each mystic forge attempt, which is very rare.

Some math using your own numbers:

250 mithril (40c) = 1g
250 mithirl converts to 30+ orichalcum (3.8s) = 1.14g+

Promega.7628:

Demand for mithril has gone up for its use in the mystic forge for converting to orichalcum.

If you look at the cost of most other high end crafting mats (T6 fine mats, ectos, etc) you will see that they are in fact declining as people are getting mostly geared out in their primary set now and the supply is growing relative to demand.

Supply on exotics continues to rise, I am selling 100+ pieces a day rising at a rate of 5-10 pieces every 30 hours or so – so again that theory doesn’t work.

Ori was down to almost 2silver per piece and is approaching 4s per peice, which is nearing a 100% increase, not 15-20% like you claim.

Promega.7628:

Paladine.6082:

IceBlink.4317:

It could simply be that people buy mithril in bulk to convert into orichalcum… maybe. XD

People have been doing that for weeks and it hasn’t led to an increase in price – the price increase over the past 2 days has been waaaay faster for that to be the explanation. Plus the cost of the mithril for full stack at 40c each would mean you would make a loss transmogrifying to orichalcum in most cases as you would need to get around 30+ orichalcum from each mystic forge attempt, which is very rare.

Some math using your own numbers:

250 mithril (40c) = 1g
250 mithirl converts to 30+ orichalcum (3.8s) = 1.14g+

You didnt read what I said. I said you would need to get approx 30+ ori ore from transmogrifying to make it worth while not that you do get 30+. It is incredibly rare to get 30+ the average I see with myself and my guildies/fiancée is 20 ori from 250 mithril which as I said makes it a loss leader.

Please read before commenting.

Compare the sale price of 250 Mithril Ore, 5 Dust, and 1 Orichalcum Ore to the sale price of 20 Orichalcum Ore and you have your answer. It’s risen completely proportional to Orichalcum Ore, which went from just over 2s to just under 4s in the last week due to increased respawn timers.

Promega.7628:

Ori was down to almost 2silver per piece and is approaching 4s per peice, which is nearing a 100% increase, not 15-20% like you claim.

Ori has not been under 3s per piece for several weeks. The last 3-5 days mithril price has doubled – ori price has increased about 15-20% again try READING before commenting.

Lucubration.8361:

Compare the sale price of 250 Mithril Ore, 5 Dust, and 1 Orichalcum Ore to the sale price of 20 Orichalcum Ore and you have your answer. It’s risen completely proportional to Orichalcum Ore, which went from just over 2s to just under 4s in the last week due to increased respawn timers.

I buy hundreds of ori ore per day it has not been under 3s for some time.

Paladine.6082:

Promega.7628:

Ori was down to almost 2silver per piece and is approaching 4s per peice, which is nearing a 100% increase, not 15-20% like you claim.

Ori has not been under 3s per piece for several weeks. The last 3-5 days mithril price has doubled – ori price has increased about 15-20% again try READING before commenting.

http://www.gw2spidy.com/item/19701

Compare Oct 2nd to today and stop your sniping.

Then look at Mithril Ore’s almost exactly proportional increase over the same time.

http://www.gw2spidy.com/item/19700

Paladine.6082:

Lucubration.8361:

Compare the sale price of 250 Mithril Ore, 5 Dust, and 1 Orichalcum Ore to the sale price of 20 Orichalcum Ore and you have your answer. It’s risen completely proportional to Orichalcum Ore, which went from just over 2s to just under 4s in the last week due to increased respawn timers.

I buy hundreds of ori ore per day it has not been under 3s for some time.

Blatantly wrong. See the first link.

Another driver for mithril demand that’s worth considering is the demand for level 80 rare weaponry – especially greatswords – to throw into the Forge.

In terms of quibbling about prices, don’t forget that prices swing a good bit — often up to 20% or more throughout any given 24-hour period.

Paladine.6082:

That simply isn’t true – I have mined Mithril at least 4 times in Cursed Shore in the last 24 hours from the same nodes, which would make the respawn rate at most every 6 hours.

yes it is true
https://forum-en.gw2archive.eu/forum/info/news/Update-Notes-October-1st-2012/first#post357683

Stephane Lo Presti

French Community Manager

MISSING UPDATE:

General

Ancient wood, Orichalcum Ore, and Mithril Ore nodes respawn rate is now tied directly to characters and set to respawn one day after your character gathered from it.

October 06, 2012 00:35

Permalink

@Lucubration
I don’t need to look at some external web site, I can look at my purchases right there in my client and see exactly what I have been paying since the game launched. I can check my Fiancée’s purchases too and see the exact same rates.

@Dmorin
Then the update is broken because it is not a 24 hour spawn time on mithril nodes and I don’t care what the French Community Manager says, I know how often I mine them, thanks. Ancient Wood and Ori nodes are indeed 24 hours, Mithril is not.

@Paladine – Whether or not you’ll take the opportunity to learn, the fact remains that the premise of your presumption is incorrect and there is no ‘Mithril Ore exploit’ responsible for the recent upward trend of Mithril Ore prices.

Paladine.6082:

@Lucubration
I don’t need to look at some external web site, I can look at my purchases right there in my client and see exactly what I have been paying since the game launched. I can check my Fiancée’s purchases too and see the exact same rates.

You’re aware that your “things I’ve bought” tab doesn’t always have the correct timestamp, right? Personally, I’m far more willing to trust gw2spidy or guildwarstrade, which checks prices and volume every 15 minutes or so, 24/7, than some random dude on a forum.

Just farmed the same 5 mithril nodes in Cursed Shore twice in less than 3 hours – so much for the 24 hour respawn rate huh?

Paladine.6082:

Just farmed the same 5 mithril nodes in Cursed Shore twice in less than 3 hours – so much for the 24 hour respawn rate huh?

Perhaps you got lucky and found some glitched nodes, because I think the official patch notes said 24 hours for all of them.

I haven’t noticed any Mithril nodes that are on a 24 hour timer yet. I believe the notes may be incorrect as the 24 hour timer should only apply to Orri nodes and ancient wood.

Regarding the mithril ore respawn I believe the update was referring to ‘Rich’ nodes only.

i always though it was because people starting spreading around the idea of using rares instead of exotics to try and get the legendary precursor

I think some people mistook the 24 hour respawn on rich mithril nodes to mean all mithril nodes. That could have spiked things a bit. Add to that the TP search return bug, and you can see why volatility has been high across the board.

Don’t forget the “surge” of casual players grinding behind the front runners trying to keep their crafting up is now in their 60-70’s and needing these mats.

Because 250 Mithril +1 Orichalcum + 5 Pile of tier 6 Dust + 5 Philosopher Stone = 10-50 Orichalcum Ore.
Easy