The Crate Depression Part 2



The outcome of the Crate Depression


The only effects directly affected by the Crate Depression were Generation 1 and Generation 3 unusual effects, with Gen 3 being especially impacted. If you watch my streams on Twitch, you’d notice that Disco Beat Down and Miami Nights are amongst my favourite effects. Unfortunately, there were so many Gen 3 hats unboxed, that the effects have lost some of their uniqueness.

It’s basic economics, Supply and Demand. The Supply for Gen 1 and Gen 3 hats increased drastically, while demand has fallen as a result. Personally, the Crate Depression didn’t affect my backpack value too much. The only notable items that were affected were my Disco Beat Down Tough Muffs (bought for 63 keys in March, priced at roughly 35 keys today) as well as my Green Energy Powdered Practitioner (worth 64 keys when I purchased it, priced roughly at 45 keys today).

Many prominent traders in the community had cashed out due to the instability of the market at the time. Having an entrepreneur mindset, I didn’t cash out myself, instead I used the Crate Depression as an opportunity to make profit. After the crash, backpack.tf buy orders for unusuals had completely vanished. With this in mind, I decided to add hundreds of buy orders for Gen 1 and Gen 3 unusuals, in the hopes of quickbuying a few to sell for more in the future. One noticeable trade I had made, was to buy a Circling Heart Flipped Trilby for 7 keys and sell it for 28 only 2 weeks later.

Conclusion:
While many people lost money from the Crate Depression, it was also a massive opportunity for others to gather massive profits. The luckiest people were those who managed to sell their unusuals on the community market before Valve intervened, as well as those who sold all their worthless crates for a decent amount. Generation 1 and  Generation 3 hats have generally gone down in value, with Gen 3 being impacted the most. While the economy hasn’t died like many were claiming back in July, the Crate Depression has definitely had a permanent effect on the Trust we have on the economy. Previously, nobody would have guessed something like this could happen, but Valve never ceases to surprise us, be in a good way or a bad way. 

 -Pope

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