Market bidding is the process of purchasing commodities from a colonized island's commodities market. Market bidding can be done from a ship, from a stall or shoppe, or from a market, fort or palace. If the fort or palace is inactive, bidding will not be possible from the building until the taxes are paid.
Bidding on commodities Edit
Commodities spawn on colonized islands in accordance with demand. Players can "bid" for these commodities through the market bidding interface.From the hold on a ship, the "View marketplace" menu in a market, or the Manage the Shoppe radial menu in a stall or shoppe, selecting "Market Bidding" brings the market bidding interface.
The market bidding interface can be confusing at first glance, but it is fairly straightforward. In the upper-left-hand area, you can view all the commodities that spawn on the island where you are currently located, as well as the current high bid and volume on each. In the center-right, you can actually place your bids. In the upper right, you can view the coffers and deposit or withdraw from them. In the lower right, you can view bid tickets currently held on the ship or in the stall/shoppe. In the lower left, you can view the status of your current bids and the bids held on the ship or stall/shoppe.
How market bids fill Edit
Spawn rates for a commodity are driven by the price people pay for the commodity. As commodities spawn, they are divided amongst the highest bidders' bid tickets until all tickets at the highest price are filled, then the next price level down will start to fill. You do [b]not[/b] need to bid higher than the current price, if you match the price your bids will start filling at the same rate as existing bids.
Bid tickets fill at about the same rate no matter how many units the bid ticket is for, with only a slight preference to filling large bid tickets faster. So, a bid ticket for 200 units will fill with more units per day than a bid ticket for 100 units, but no where near twice as fast. Many smaller bid tickets will fill faster than one large bid ticket, but you will also pay more in fees with smaller bid tickets.
The higher your bid volume or the lower your price, the longer it will take for your bid to fill. If you are in a hurry to get commodities, you will get them faster if you bid a high price.
You do not need to bid 1 piece of eight higher than the current bid, you can bid the same amount as the current high bid, and you will be one of the high bidders.
The bidding process Edit
Bidding takes place via the form boxes on the right side of the screen. "Bid" corresponds to "High bid" in the left-side table. What you put in the "Bid" form box is what you are willing to pay per unit of whatever commodity you choose to bid on. "Units" corresponds to "Volume"; whatever you place in the "Units" form box is how many units you want to purchase.
As you place numbers, the "Cost" and "Fee" areas are automatically adjusted. The cost is equal to the "Bid" value multiplied by the "Units" value.
The fee is calculated as 5% of total Cost + (5% of Bid Price or 10 PoE, whichever is higher). All decimal numbers are rounded off to the next highest digit. A common misconception is that the Fee is 5% of the total Cost plus 10 PoE. This is not correct: any bid of 200 PoE or less will have a 10 PoE fee, plus 5% of the total Cost.
This formula is important to keep in mind because it can help you plan your bids to get the most value. Any bid prices greater than 200 PoE will see increasing savings by ordering larger quantities. Bidding on one item at 300 PoE will cost a fee of 10%. But by bidding on a quantity of 20 the fee is only 5.25%.
The bid ticket EditOnce you place a bid, a bid ticket is placed in your inventory (if done from a market) or inside a stall, shoppe, or ship. These can be found under the collapsible section "Bid Tickets" in a player's inventory and under the Market Bidding screen in a stall, shoppe, or ship. The bid ticket is a handy reference to see if a bid is filled yet and a way to transfer and sell commodities if not officer or above.
Delivering a bid Edit
In order to deliver a filled bid ticket, you must be at the original island and at a receiving location (a stall or shoppe you own or manage, an unlocked ship in your crew [assuming you are at least a fleet officer], or a ship you own). Bring up the market interface again, select the ticket you wish to deliver from the ones listed there, and click on the "Deliver" button. Clicking "Deliver" will deliver as much of the bid as can fit; if not all the commodities fit, the bid ticket is amended and can be delivered in entirety at another time.
Canceling bid tickets Edit
For whatever reason, you might decide you would rather not have the commodities you bid on. You can cancel an unfilled or partially-filled bid ticket by clicking "Deliver" on the Market Bidding screen. If the bid ticket is unfilled, you get the entirety of the "Cost" back, but lose the fee. If the bid ticket is partially-filled, the filled commodities are delivered and the remainder is converted into the original cost and goes to the coffers. If the partially-filled ticket will not fit into the delivering location, the bid ticket is split into three things:
- The portion that can fit goes into the hold.
- A new bid ticket is created for the number of commodities that couldn't fit but were filled. It is created as "filled" also.
- The unfilled portion is returned as PoE.
Note that in order to cancel a bid, you must be in a location where you can receive the bid (see above).