Why I Like Gated Markets

So, today I got a comment on my post about Spirit of Harmony, but I wanted to take the time to reply to it in its own post, partially because I want everyone to see it, and partially because I cannot think of anything else to write about right now. Either way, here is the comment first:

Spoken like a true raider but hey each to their own, I have never been a fan of gating content as in my view it just tends to bore players to death and two months into an expansion you wonder why there are so few players left already. To be honest so many of Blizzard's decisions affecting gold making issues vex me these day I don't know what to do but as I'm not quitting I'll just have to grin and bear it.

Now, although the commenter is clearly conflating two separate things, the gating of content, and that of markets, I do want to tackle the latter. I am a big fan of gated markets, being, those markets which one has to spend time to get into. I am a fan of them for two big reasons:

1. It makes that market more valuable, by making it more scarce. It's simple economics: the less there is of something on the market, and granting that there is enough demand for the item, the more valuable the item will be. Valuable, in this sense, meaning that you can demand a higher price for the item, because people will pay a higher price. The value of something is simply how much you can sell it for, not the material cost+time, or whatever other metric. Gating a market naturally limits the amount of competitors you will have in that market, and thus, the value will go up, and stay up longer. The perfect example of that, at least on my server, is Pack of Endless Pockets. I still see them up for anywhere between 500-1000g a piece, long after they were introduced. This is because the gate for that market is really good at discouraging people from passing it.
2. It makes the market somewhat more fair. To use an analogy, Free-to-play(FTP) games. I am really really against some FTP games, because they clearly give an advantage to people who can throw enough money at the game. To contrast, in WoW, there is no amount of money you can throw at the game to get an advantage, or at least, one that actually gives you an edge against other players in PVP, or in clearing PVE faster. Now, I understand that you can pay more money in WoW to level faster(scroll, or RAF), but that does nothing to affect the endgame, only gets you there faster, which I could care less about. The same goes for gated markets. No matter how much gold you have to throw at the problem, unless you spend however long it takes to get the pattern for the Pack of Endless Pockets, you will not get it. There is no amount of gold you can spend to pass that gate. This makes it more fair for those who don't have millions of gold, but who have time to play. This also helps spread more gold to more people(people who aren't big gold makers, but love grinding faction rep), which is a good thing, because more gold for everyone means more people who can afford what you are selling, which means faster selling, which means more demand for goods, which means higher value of them.

Anyway, that is why I am a fan of gated markets. What do you think? Think I'm a loony, or dead on, or somewhere in-between? Let me know in the comments!