Underpriced?

Last night someone from a group with Realty in the name bought a bunch of land from me, in a sim I'd bought five days before. Which might be an indication that I'd underpriced the land, or on the other hand might be an indication that the buyer either had inside knowledge that someone in the sim would pay well for the land, OR that the buyer is simply more optimistic about the attractiveness of the land, than I was.

The same buyer---perhaps having formed the judgment that I'm in the habit of underpricing land---bought some more parcels from me in another sim. Those parcels had sat un-bought for a full month. I dropped the prices, again, five days before this buyer paid for them.

So from that evidence alone, the conclusion that I'd over priced them five weeks ago, then underpriced them six days ago, might seem reasonable. But the price drop wasn't all that dramatic--a matter of less than L$1.50 per meter.

Difficult to draw firm conclusions---just as in real-world real estate wheeling-and-dealing, no doubt.

In general, I do tend to price things on the low side. Mainly this is to compensate for the fact that I don't have a marketing system in place, and can't afford to charge as much as those that do.

Well, it's all interesting.

(What a wealth of data there is, in Second Life, for the economics researcher!)