The past week was another reminder for why I don't play the markets in EVE Online. Instead, I sat on my hands and made 440 million ISK.
I thought when the conversion from aurum to the new PLEX occurred, the ISK price would go down. Why? Because I thought everyone would race out to cash in their new found wealth. The increased supply would drive down the price. If I sold immediately, I could watch the price drop and then pick the PLEX up at a lower price while making a small profit. Between the 2 PLEX I already owned plus the free aurum sitting on my accounts, I have over 2700 PLEX.
Instead, I did nothing. And the price rose from 1,247 million ISK per one month of game time on 8 May to 1,347 million yesterday.
I'll conclude with the possible effect on the price of illicit RMT. Despite the price increase for two month's game time from $17.495 per month to $18.177 per month that occurred on 9 May, the price of game time still fell 4.2% (60 cents) over the course of the first half of the month. Market forces may eventually relent, but at $13.70/billion ISK in The Forge, some ISK sellers will soon see sales fall unless they lower prices.