If your going to use the old editions to support your position don't ignore the differencesSo, D&D was played where people just went into dungeons, got treasure, came out, and repeated.
Without a central book of magic item prices.
The DM made naughty word up on the spot.
You only need such a list if the ability to pick which magic items a given character has is in the hands of the player, where they spend gp to customize their PC's abilities from a menu determined by said prices.
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You can even have a magic item shop under such a system.
Start with XGTE prices.
Common: 100 gp
Uncommon: 400 gp
Rare: 4000 gp
Very Rare: 40000 gp
Legendary: 200000 gp
Now lets make them random.
Rarity Sell to NPC Buy from NPC Common 1d8 * 10 gp 1d4 * 50 gp Uncommon 1d6 * 50 gp 1d8 * 100 gp Rare 1d6 * 500 gp 1d8 * 1000 gp Very Rare 1d6 * 5000 gp 1d8 * 10000 gp Legendary 1d10 * 10000 gp 1d4 * 100000 gp
Roll twice on the buy/sell values. The lowest (for buying) and highest (for selling) is the asking price. The other value is the absolute limit of what can be bargained for short of killing the buyer/seller and stealing it.
If it has been X weeks since the last time you got a price for an item, roll 1d20; if the value is at or under X, reroll the price. Otherwise, you get the same price.
Now we just have to distribute items avaliable for sale. Have a system whereby the items for sale "level up" with the players somehow, either by accessing new places where things sell, or as the PCs spend money, or make naughty word up.
Every 1d20 days, remove half of the items for sale at random, then roll on a DMG treasure table horde for new items for sale. For each item, roll twice for the price (highest is asking, lowest is absolute floor).
There we have it. You now can spend gold on magic items. You can't customize your character. Sometimes you'll run into an item that is awesome and cheap, other times they will be selling a potion of healing for way too much and you won't buy it.
No fixed prices needed. Unless, as I said, you are going to hand the price list to players who spend their gold points on customizing their characters from a menu.
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Flaws in a price list only matter if everything is for sale at one point in time. Because without that, there really isn't a chance to trade your boots of levitation for boots of flying. Either you have the gold, need to fly, and one or the other is for sale, or not. The odds both are for sale at the same time is low, so PCs won't even compare the prices in-game.
Maybe they'll find they have boots of levitation, and they find boots of flying for sale, and it is a bit strange that the merchant buys the levitation boots and sells you the flying boots and gives change. But, as I have mentioned, it isn't hard to explain that; maybe the boots of levitation are the actual boots in some actual story and the merchant knows a collector, while the boots of flying have no such story.
Requiring a globally consistent system only matters if the entire system is in play at once.
Add to that the fact that the GM wasn't exactly flying blind like 5e while things like the 2e ad&d dmg 117-120 researching magical items (ie crafting) barely mention gold at all & even then the gold is very much not the meaningful component given most of the rules there are sketching out for the gm how to put meaningful costs on the process that push for adventuring.... wotc borked that right out of the gate by hardcoding costs, giving no guidance, and worse designing a broken system with no room for magic items justified by "magic items are optional"
In those old editions "The DM made naughty word up on the spot." because the system was designed to let them do exactly that without immediately causing problems. Those old editions prior to 5e were positively swimming in oceans of treasure (gold gems etc) & magic items. 3.x codified the crafting process with something that a player could point to that didn't force the gm to make a big deal out of every single instance of crafting & helped to address a lot of the problems in the old way while still allowing the GM to add special requirements or interesting adventure-worhty needs when it felt right. 5e has the worst of both styles plus a bunch of new ones it created
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