Selling Players on Football Index
Updated: Jun 26, 2020
Want to sell a player on Football Index? Unsure which is the best way to sell? With the recent introduction of the Matching Engine, there are now a few different ways to sell players on Football Index with more in the pipeline with the introduction of Order Books. Read on to find out more about your options for selling players on Football Index.
Alongside my posts on Identifying players to Buy on Football Index and Buying Players on Football Index, we will now look at how to sell players and the options available. Whilst buying players is likely the most fun aspect of trading, selling at the right time, for a profit or even a loss in some instances, is vital to maintaining a successful portfolio.
In contrast to buying players, prior to the introduction of the Matching Engine in May 2020, the two methods of selling players were already in place, albeit with a different system supporting one of the options. These two options are Market Sell and Instant Sell and we will look below at the pros and cons of each method and add some thoughts on which system may be best at different times.
Summary of Pros & Cons
Very easy to sell this way with players in high demand
Receive full Market Buy price (-2% commission)
Very little time required - you can just list your player for sale and wait
If the player is not in demand, sell queues can be very long
Players can drop out of the sell queue if their price falls below the threshold set
Very difficult in times of market stagnation
Market sell is the first option available to traders on Football Index and the principle is relatively straightforward. You list the player for sale at the specified buy price, set a reserve and then wait until another trader buys the player through the Market Buy option. If you were at the front of the queue (your shares were listed for sell before others) then your shares will be sold at the current Market Buy price and you will receive the funds in your cash balance (-2% commission).
When selling through Market Sell, you will need to set a reserve. This is the price at which you are no longer willing to sell. So, if for example a player drops in value whilst you have him in the sale queue, and this drops below your reserve price, he will be removed from the sale queue.
The exact deltas surrounding price movements have never been confirmed by Football Index, but are widely believed to be in the region of 600-900 shares to move the price by 1p (previously 300 shares prior to the Share split).
With Market Sell, you are selling shares to other traders who are buying them from the market (as opposed to bidding).
Selling this way is relatively easy for players who are in high demand but problems occur for players who are less so for which buyers would at present likely consider bids to be the more preferable option. To market sell, you click/ tap on the player, select how many shares you would like to sell and click/ tap 'Add to Sell Queue'. You will then have the opportunity to set the reserve price and confirm. The player is immediately added to the queue and once he has sold, the funds will appear in your cash balance.
Instant Sell (Powered by the Matching Engine)
Summary of Pros & Cons
Convenient, quick & easy to sell players
Funds are immediately available in your cash balance. No waiting in a queue for Market Buys/ Sells to complete
Provides an option to sell when Football Index or Market Makers are not in a position to do as we saw previously with the Suspension of Instant Sell during the Coronavirus pandemic
Bids are often placed very low relative to the Market Buy price meaning prices are not attractive for those wanting to sell
Arguably lowers the value of players if they can be bought at low prices
Concern in the trader community about the removal of Instant Sell provided by Football Index and/ or Market Makers
For a short background to the introduction of the Matching Engine, please the post on Buying Players on Football Index. What is important to note here, is that the Matching Engine was introduced as a way of enabling those who wished to sell, the option to do so, at a time when the previous version of Instant Sell provided by FootballIndex/ Market Makers was suspended. As also discussed in this thread, the introduction has also created some discontent within the trader community, and significant market stagnation.
The process of Instant selling is very straightforward and follows a similar process as with the Market Sell above, by tapping/ clicking 'Sell' on the player listing, specifying the amount of shares and tapping/ clicking the Instant Sell button.
Tip: If you are looking to sell a player, consider timing and the likelihood of the player rising in price, and how this will present opportunities. For example, prior to a match, during a strong performance or if the player receives transfer speculation. If you are happy to sit and wait and don't foresee any price increases, listing the player as early as possible and waiting may be the better option. Having said that, the Matching Engine has added a new dimension to Football Index with bids being placed 24 hours a day, seven days a week and it's always worth monitoring these for any improved bids.
Screenshots taken from the Football Index app.
Comments, thoughts and suggestions below please.