Selling Lindens taking forever

[Imagin Illyar]

For years I always sold lindens at 249 and it processed in minutes.  After the sim buy down announcement I had to start selling at 250 to get them to go through.  Now 250 doesn't process in the same day either.  Are there really that many people who were sitting on $600US in lindens that are now cashing out to buy down their sim to cause this?  It's been a month since the announcement.  LL profits from a higher number and there is no other way to sell lindens now.  Is the system rigged?  What are you guys selling for now?

[Pamela Galli]

https://community.secondlife.com/t5/General-Discussion-Forum/LindeX-at-251/td-p/3024902

[Rya Nitely]

 

I agree with you, most people would be paying with fresh US$ not hoarded L$s, and those who are using L$ to pay for land would not wait in that 249 queue. They would want that money fast, so those big orders would come and go, leaving thing as they were, at least some of the time.

Read that thread, especially the last few posts.

[Alwin Alcott]

it's not taking forever, you only don't follow the trending rates... 249 is too low to sell soon.

It never was a fixed rate, only stable for long time.

I wouldn't be surprised it gets even higher amounts to get your dollar.

[Sassy Romano]

Simple, cancel the sale and offer at higher then the current highest and they'll sell immediately.

[Prokofy Neva]

Oh, thanks for providing at least one explanation for why this might be happening -- people using savings or revenue to buy the new sims, although I wouldn't have thought that likely, given the still-high costs compared to what inworld revenues can be. But it's possible.

There are other reasons but I dare not discuss them.

[Oceane Grumiaux]

I have exactly the same issue, sold mine for 249 for a long time, suddenly it didn't work anymore. Pulled back thrice and did 250. Sold within a few hours, which is fantastic because i had been waiting for over a month. Only now, despite of the fact that Linden Lab sort of promised to process it quicker to Paypal, I am waiting since May 4th and didn't see the dollars yet on my paypal account. I paid $14.70 to process... I am really annoyed by this, but what can I do? Of course usally it took like 5-10 business days but I heard it could be done now within 2 days. Well not in my case. 

 

[Loco Mycron]

257 the last few days....it's gone haywire!

[Amelia Mainsail]

I must be missing something here . Minutes? I have been waiting since 19/6 . It takes seconds to buy lindens and 8 days to sell them ? Why? Is there another tier to this system where you pay a higher fee for a quicker transaction?    

[Amelia Mainsail]

oops! Sorry since 19/5  ! 

 

[Sassy Romano]

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ErinaDarkfire wrote:

I must be missing something here . Minutes? I have been waiting since 19/6 . It takes seconds to buy lindens and 8 days to sell them ? Why? Is there another tier to this system where you pay a higher fee for a quicker transaction?    

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The obvious question is "You do realise that it's a fluctuating rate and that you're in competition with other sellers of L$ who may offer a better rate?

In other words, when you buy, you typically buy at the best rate, you get the most L$ for your RL money but when you sell, you place a sell order of which you can set "best rate" (at the time) or a sell price of your choice.  Depending on what happens next, that best rate at the time might immediately be bettered and you're in the queue.

The rate has changed quite a lot recently so the next question is, at what rate are you selling and where in this pile are you?



[Phil Deakins]

Since you posted that graphic, the highest rate has mioved down to 254, with the bulk still at 250/251, BUT I wonder if someone saw your post and thought that maybe the offers in the 230s actually got sold, because 1.4 million has been offered at 235, which is 1 point below the lowest offer in your graphic

[Sassy Romano]

Possibly Phil.  Either way, I suspect a lot of people believe that you buy and sell L$ tokens direclty from LL at a set price?

[Phil Deakins]

I have no doubt that they do believe that. It's the most natural thing to assume.

[Amelia Mainsail]

No I'm sorry. Call me naive . I buy lindens at whatever LL sells them for in seconds .  As far as i'm concerned, i'm only trying to cash in the lindens. I have no idea of money markets. LL says it takes 3-5 days. It's now 11 days. But thanks for the insigh and taking the time to explain it.

     

[Pamela Galli]

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ErinaDarkfire wrote:

No I'm sorry. Call me naive . I buy lindens at whatever LL sells them for in seconds .  As far as i'm concerned, i'm only trying to cash in the lindens. I have no idea of money markets. LL says it takes 3-5 days. It's now 11 days. But thanks for the insigh and taking the time to explain it.

     

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As Sassy said, LL does not sell Lindens. Other people, like me, put Lindens up for sale, and people like you buy them.

[Sassy Romano]

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ErinaDarkfire wrote:

No I'm sorry. Call me naive . I buy lindens at whatever LL sells them for in seconds .  As far as i'm concerned, i'm only trying to cash in the lindens. I have no idea of money markets. LL says it takes 3-5 days. It's now 11 days. But thanks for the insigh and taking the time to explain it.

     

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No problem.

As I said, when you buy, you automatically buy the most L$ for the $, you're not buying them from LL though, you're buying them from the person who is offering the most.

When you sell, you can choose the rate you sell at, you can be that person offering the most L$ for the $ or you can choose a lower amount.  In choosing a lower amount, you're going to wait until everyone above you has sold theirs first, it's a bit of a bunfight basically.

The 3-5 day time that LL mention, is the actual cashout of $ to your account, not the time it takes to first exchange L$ game tokens with other residents into $.

If you still haven't sold, cancel the order and place at a higher rate or you can continue to wait.  Bear in mind that it may never get back to your rate offered or it could go lower, that's the market at work.