Enchantment prices

[Kascas]

i was calculating the benefits of enchanting tools
http://www.minecraftwiki.net/wiki/Enchanting
im going to share some calculations here
feel free to correct any of them

besides silk touch there are 3 enchantments
Unbreaking, Fortune and Efficienty

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Unbreaking calculation
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"The tool will last an entire tool durability longer."
in other words

unbreaking I means
your pickaxe will last, for the same time as 2 pickaxes would

unbreaking II
1 pickaxe = 3 pickaxes

III = 4 pickaxes IV 5 pickaxes and V 6 pickaxes

so if unbreaking III gives you 4 pickaxes this should also mean, the cost to buy would be 1 pickaxe x4

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Fortune calculation
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following to wiki, you will get extra ores when mining
I: (33% more)
II: (75% more)
III: (120% more)

so when you buy Fortune II, the cost to buy would be 1.75x the normal price(when only using it on ores tho!)

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Efficienty calculation
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"+50% mining speed per level. "

so Efficenty II means you dig 100%(normal) + 50%(I) + 50%(II) = 200% or, twise as fast
does this also means it should cost twise as much? no
say you dig for 10 minets and earn 100$ every minet
with a regular pickaxe you would earn 1000$
with an efficienty II you will stil earn 1000$ but in 5 minets
in those other 5 minets you can earn another 5x 100$ = 500$ with a normal pickaxe
you wont earn 2000$, you will earn 1500$,  so 1.5x the price

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All calculations
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Adding everything up, the costs of enchantment should be as following

Unbreaking I   II  III  IV V
price         2x 3x 4x  5x 6x

Fortune   I       II      III 
price      1.33x 1.75x 2.2x (ores only tho)

Efficienty I       II    III    IV     V
price      1.33x 1.5x 1.6x 1.66x 1.72x

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Testing 
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now that i got it all calculated, lets go compare it with the prices people sell it for?
for example Unbreaking III, Fortune III, and Efficiency V
lets calculate? howmuch does a diamond pickaxe costs? 3 diamonds and 2 sticks
howmuch does a diamond cost? 100-150 + 2 sticks,
so a diamond pickaxe costs 450 at most?
now lets apply the benefits,

Normal pickaxe : 450
Fortune III (price x 2.2) 450 x 2.2 = 990
Efficiency V (price x 1.72) 990 x 1.72 = 1702
Unbreaking III (price x 4) 1702 x 4 = 6811
calculating the same with a pickaxe costing 300, results in 4540
so a fair price for this pickaxe would be 4540-6811

now lets compare it to the up to date price people buy it for
http://www.opticraft.net/index.php/topic,11122.0.html
thats 10 times the price i calculated!!!???omg???!!!
how is this possible? why are they buying it for this much?

they require lots of effort to get, and effort = time = money...ok
but hey, what does a buyer care about howmuch the seller has put effort in it?
if it does not benefit that much, and costs such an ammount, why on earth are people buying it?

like unbreaking IV sounds epic and expensive, but hey 5 pickaxes are just the same...only a bit of inventory space...

feel free to share your idee's or correct any calculation

[Xeadin]

Now this is a great example of someone that knows what they're doing

I'm fine with all the mathematical numbers and stuff, but when it's not put into correct context, it can be quite confusing. Good thing this shows exactly how those figures work

[Kascas]

thanks   

[Boshiwarrior]

Because people are lazy and it takes a lot of time to get lvl 50. You need a lot of time to get that. They are rare, because it is a surprise wich enchanment you get. And not many people are selling it. That is why!

[Smiteme69]

I agree with the awesome explanation, but as Boshi stated the enchants are random, I believe that is what raises the cost.

I must of tried 3 pickaxes at level 48 trying to get silktouch a long time ago, people may do the same for Unb or Fort and give up, and just pay loads to someone that has one.

[KillAndSurf]

you used my post as an example! xD I feel special.

[Kascas]

you used my post as an example! xD I feel special.

 

[clawstrider]

I will try show you how your calculations are wrong, as what Smite and Boshi said.

Incoming long post!

Note: I will be using This (A brilliant site).

1. Getting to level 50
 
For leveling, I will be using zombies as an example, because eh, its a random mob I chose.
This means you need 925 kills.
It spawns ever 10-40 seconds, so lets pretend that it is every 25 seconds (average.)
0-4 spawn each 25 seconds, so lets say its 2 every 25 seconds.
This means, getting to level 50 with a fairly good case scenario takes 11563 seconds or 192 minutes, or roughly 3 hours!
Lets take 3 hours, because yay, simple.

So far, we already have 3 hours of time spent, so lets say, *3 to the price. Is that fair? I think so.

Next, lets take your example, say we enchant a diamond pickaxe ($450)
We get Unbreaking III, Fortune III, Efficiency V.

Using pernsteiner, with a diamond tool, at level 50, you have a 3.54% of that. That means you might have to enchant 29 times to get that tool. So that would actually be *83 value, which turns out to be 37350.

Then, we can add the time and effort of auctioning, which is another 5k. Finally, I produce 42350 as my recommended value, but hey, everyone likes to splash a bit, and you know, everything always sells for more. So I would say, current market prices are FAIR.


Woot, maths

[Kascas]

I will try show you how your calculations are wrong, as what Smite and Boshi said.

nice try 

i was calculating this from the buyers view, in wich the prices are clearly outrages for the benefits you get
but anyway, il hop into your post of the sellers view 

So far, we already have 3 hours of time spent, so lets say, *3 to the price. Is that fair? I think so.

nope, thats a bit to random 
think about how many you can earn within 3 hours, and then add that to the final result
instead of doing the final result x3 

you have a 3.54% of that. you might have to enchant 29 times to get that tool. So that would actually be *83

so *29 if you agree with the above
also, what will you do with the other 28 pickaxes you enchanted? you can sell them aswell!
thats a good argument for it being rare, but you cant include that in your calculation

so back on 450 

Then, we can add the time and effort of auctioning, which is another 5k.

to random again, add this time to the 3 hours above

also go cut a tree at the edge of the world, takes alot time, then return and sell it to someone
do you think the buyer would care a bit where you got it from? and howlong it took?
he just wants some wood! hes not going to pay more for it, couse of your efforts
so you could just aswell remove the 3 hours and auctioning time, from the calculation

oh stil on 450...
well then there is the magical thing the others said about it being rare

Woot, maths

450*rare=
calculation solved