Because raw materials in video games have always costed more than items because of the various ways they can be used and the increased demand for them.

 

People just don't really break tools. EXP sells for more than the tools because if you need something not generic, you have to buy the EXP to make it. People who make picks have to price them competitively and 10k is better than nothing because there's just so many on the market not going anywhere.

 

Basically, yeah.

 

Supply and demand basically.

 

Also villager trading.

 

Villagers went bye bye like 2 months ago

 

Well if I do recall a while ago, like maybe 14 months to two years ago, there was a certain group of players who held large quantities of enchanted tools, and held on to them for some time, and then began to sell them to other players for lower rates. Back then it was much easier to obtain good enchants by many means, nice old enchantment tables, buying from other players, dungeon's, and the much cheaper enchanted books. Most likely there are some very old tools still around to this day, that where sold from these players, and in fact they are still being sold to day.

 

I still have chests full of enchanted swords, axes, picks and armour that no-one wanted when I used to advertise. I sell the occasional one but I no longer have any clue as to their value so they sit gathering dust...

 

Two weeks later and those picks are selling for $13k, if not more. I guess prices of xp and the tools have finally, finally become fair compared to each other.

 

It's simply the law of Supply & Demand. When EXP is needed [which is always] the price goes up. when tools are needed/desired [like after a mining world reset] the price would go up. EXP is in higher demand because it can also be used on anvil too, and almost all player anvil services require exp to be supplied.