In the last month since we sent out an update, we've made a series of amazing updates to Magpie. What makes me particularly excited is this is truly just the beginning.
As I have discussed with many of you personally, reports are a necessary tool for any business to properly analyze their inventories. This is equally important for a personal collector such as myself. This past week, we released a newly dedicated section in Magpie for reporting. The Reports page, denoted by the line-graph icon, currently includes two reports we believe you'll find very interesting.
Inventory Change Summary — Use this report to see how cards have changed in price over time. This report is for taking a macro-level look at your inventory. You can look at all cards your monitoring, or select a specific Group to examine. You can also choose the date range of your preference. The default is the last week.
Inventory Margin Change — If you just want to see how cards in your groups have changed according to the Margin Threshold you set in your groups, the Inventory Margin Change report provides a summary version of the larger Inventory Change Summary. If you're unsure of your Margin Thresholds, remember this is set on a group-by-group basis when you are creating or editing a group.
For both reports, you'll see we are also presenting the Suggested Group information on these reports. The goal is to help you have a single place where you can identify whether there are cards incorrectly grouped based on price. This is particularly important if you have groups dedicated to "dollar-bulk rares" and minimum card values for display cases. Both reports can be downloaded for viewing and analysis in your favorite spreadsheet software.
The reports Magpie released this past weekend will help provide you with the insight you need to properly value your inventory and collections. I encourage you to access both and explore your data. You'll find both tools are excellent for identifying trends and keeping your prices updated.
Custom Pricing — Smart Pricing and Minimum Prices
I have sent a few updates about Smart Pricing and Minimum Prices. We want everyone to be aware these tools are available for use. We consider both of these pricing tools as "advanced pricing" tools, so I encourage you to experiment with both on Private groups before you sharing them with your players via Public groups.
When creating or editing a group, you will now see an option labeled “Enable Custom Pricing.”
Enabling Custom Pricing will provide you two options: Smart Pricing and Minimum Prices.
Smart Pricing will allow you to optionally set card prices so they are more customer friendly. Minimum Prices allows you to set a price-floor for any card within a group. Minimum Prices are controlled by rarity, so that you can set a different minimum for mythics or uncommons.
To reduce the impact of small price fluctuations and to normalize for non-standard prices, Smart Pricing is based on two sets of price scenarios: card prices with denominations greater than $0.50 and prices with denominations less than $0.50. This means Magpie looks at $3.19 and $3.56 as two different situations.
A couple of examples will help illustrate this system.
Example 1: card price = $3.19 Magpie sees that the card price ends with $0.19. It looks at the setting (“Less than $0.50”) and sees the price should be set to the closest $0.45. Magpie then changes the sell price from $3.19 to $3.45.
Example 2: card price = $3.63 Magpie determines this is a “Greater than $0.50” scenario and uses the setting to change the price to the nearest $0.95, making the price $3.95. If you want to round prices to the nearest dollar, then simply use a '1'. In this example, the price would be rounded from $3.63 to $4.
Example setup options for Smart Pricing and Minimum Prices
Before enabling Smart Pricing:
After enabling Smart Pricing:
Many Magpie subscribers tell us it isn’t worth selling cards for less than a specific amount. To help with this problem, Magpie allows you, on a per group basis, to set minimum prices. Minimum prices are controlled on a per-rarity basis.
If you have any questions or ideas for further improvements, please let us know. We welcome your feedback and look forward to continuing to improve Magpie to make you more successful.
Thank you again for your support.