Sigil: City of Doors

So a while back I came across an interesting situation with Amycus, my Cipher and makeshift merchant. He came across an Abyssal Iron Staff. Not knowing the "role play value" of such an item (as it was only +1 with a minor protection enchantment), I let it go rather inexpensively. Another PC near me said that was crazy, as Abyssal Iron Staff is extremely rare and that the "role play value" of the item was at least 10,000 jink.

So a few questions and comment for other merchants:

How do you determine a value of an item?

I've always gone with basic supply and demand. There's a high demand for monk boots +4/+5, a low supply, and therefore a high price. The same with Rogue Stones and Blue Diamonds. If I sell them at all, they catch a very nice price.

Basic +4 and +5 armor (outside of a few exceptions like Full Plate, Chain Shirts, Padded Armor, and sometimes Robes) tend to be quite common, lack demand, and therefore I offer a low price and cater to new players who are moving up in levels.

Also, do you use "Role Play Value"? If so, how does that play out?

Roleplay Value: How much my character likes the person he's selling it to... if he likes them a lot, free, if he doesn't like them, higher price than to people he doesn't know.

If the trinket has some special value to my character storywise or some such, those are highly likely something they will not deal for any price.

General Value: Depends on character. Mordechai: As often as he can, the amount isn't greatest issue to him. Cratten: What others say is fair. Xaositect: That varies a lot... sometimes determined by dice, other times he asks something worth less, next time he wants something worth more, next time everything costs same amount despite what they are and so forth.

When Purchasing From Others: Set a price, if they can't make it, don't make a deal. It's not bad to ask high prices, it's dumb to pay the high prices. :P

ahh merchant questions.

with items I have done as Ovarf taught me. "ask what they offer". My character has an idea of what he wants for it though he wants others to make an offer. Equal or exceed its yours.

as for buying he is not so kind. Tell him how much you want or what you want. Trying to get him to name a price will get a sarcastically low price.

That is half of how he does business the rest, rather not say seeing he is doing rather well. Tricks he shared only with apprentices.