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What effect will selling 2 mil have?
Cristiano Midnight
Evil Snapshot Baron
Join date: 17 May 2003
Posts: 8,616
11-14-2004 13:36
Ok, question for those who are watching the L$ plummet, I am curious what effect you think the selling of nearly $2 million L$ from the sale of an unnamed SL establishment will have. I can't imagine the former owner will sit on that kind of L$ for very long.
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Ace Cassidy
Resident Bohemian
Join date: 5 Apr 2004
Posts: 1,228
11-14-2004 13:46
That sort of selling pressure would certainly push the price downward.

On the other hand, about L$500K came rolling through GOM on Thursday, pushed the price way down, but the market has quickly bounced back to where it was before the sell-off.

So, to answer your question... I dunno.

- Ace

P.S. I should also add that a lot would depend on "how" they sell their L$. If they just hop in and start filling orders on the Wanted side of the line, it would have a lot more downward pressure than if they're patient, and slowly but steadily add orders on the For Sale side.
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Princess Medici
sad panda
Join date: 1 Mar 2004
Posts: 416
11-14-2004 15:51
*gasps* That's how much it sold for?! :eek:
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Merwan Marker
Booring...
Join date: 28 Jan 2004
Posts: 4,706
11-14-2004 17:02
Heheheheh -


good eyes Cris!


:)
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Maximus Rebus
Registered User
Join date: 19 Apr 2004
Posts: 22
11-22-2004 18:42
From: Princess Medici
*gasps* That's how much it sold for?! :eek:


lol...i had been wondering myself. :)
Alby Yellowknife
Sic Semper Tyrannis
Join date: 5 Jun 2004
Posts: 1,148
11-22-2004 20:56
From: Cristiano Midnight
Ok, question for those who are watching the L$ plummet, I am curious what effect you think the selling of nearly $2 million L$ from the sale of an unnamed SL establishment will have. I can't imagine the former owner will sit on that kind of L$ for very long.



All depends on the effect it has on each person. L$2/million Linden would wipe out the Buy-Side to zero dollars and leave at least L$1/million still needing to be sold.

I'd recommend selling 100 blocks/L$100,000 (ie: 10% of daily volume) per day over the next 20 days. Sell little bits at a time instead of the whole pot at once.

Damn, can you believe it? IGE and GOM hold around 14-16/million Linden Dollars. Well, technically IGE holds around L$8/million and GOM is just the trading floor for the remainder of various players. But overall, thats 12% of the entire currency in circulation.
Catherine Cotton
Tis Elfin
Join date: 2 Apr 2003
Posts: 3,001
11-22-2004 22:44
The price would go down further. I agree it would bounce back. Unless of course it was sold for even less than the current price then it would take longer to recover. I think what we are seeing right now is a lot of ppl selling for a lot less than they could. If everyone would just agree that 1.45 per 250L is the best price and no one sold below that the market would right its self more quickly. That however isn't going to happen as long as there are ppl out there trying to quickly cash in their lindens as they are right now. Why? dunno could it be Christmas money LOL

Cat
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Lisse Livingston
Mentor/Instructor/Greeter
Join date: 16 May 2004
Posts: 1,130
11-22-2004 23:08
From: Cristiano Midnight
Ok, question for those who are watching the L$ plummet, I am curious what effect you think the selling of nearly $2 million L$ from the sale of an unnamed SL establishment will have. I can't imagine the former owner will sit on that kind of L$ for very long.


Hm, wouldn't the purchaser have purchased the L$2 million from GOM in the first place, and thus caused a rise of some magnitude, that would be corrected when the L$2 million came back in to the GOM arena?

Of course, I could be entirely wrong...
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Alby Yellowknife
Sic Semper Tyrannis
Join date: 5 Jun 2004
Posts: 1,148
11-23-2004 07:06
From: Lisse Livingston
Hm, wouldn't the purchaser have purchased the L$2 million from GOM in the first place, and thus caused a rise of some magnitude, that would be corrected when the L$2 million came back in to the GOM arena?

Of course, I could be entirely wrong...



Not really.. There is L$126/million in SL, so L$2/million doesn't really need to come from GOM if it was accumulated wealth over time. If somebody obtained that cash recently, then I'd suspect a purchase from IGE. Cause there are no signs of 2000 blocks on top of the normal daily volume being recorded.