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But I aggree that shutting down the Bazaar would solve the problem and I'd accept that.
Though I would rather prefer to have about a dozen 50-stall Bazaars in mayor cities (or having put them on the landscape at well accessible spots).
In that way it would help the lower levels to trade their stuff to each other and not having to buy for ridiculous Vendor rates. BUT it would solve the high-end-stuff problem somehow because contoling 12 markets takes quite an effort compared to one. Besides that would it become more efficient to auction that 25k gear zonewide again than putting it in a stall.
Of course this takes more time and effort to SOE than just shutting down the Luclin Bazaar so it won't happen.
Though this would indeed make things difficult, it would make little difference either, we're talking companies with thousands of accounts who could easily have multiple races amoung them so making it little effort to have several instances of the program running for each 'bazaar'. The downside to this is like mentioned further up where there are legit uses of the program, those using it for good reasons may have been using it for the good of the community but would soon feel it wasn't worth the effort.
A good way to fix the problem? Like everyone says, turn back to old style /ooc etc. trading. My guess is that traders are considered npcs to the program which lets it search for item prices on normal players which makes it painfully difficult to monitor (SoE are not going to notice thousands of checks on vendors prices, the program seems to look for an item in a vendors wares but doesn't actively appear to search for it).
Another fix would be for a price limit to be introduced, this would make things significantly better for PC's and make this much less profitable for the companies. If people want to sell for more than the vendor limit, they use /auction or /ooc. A good sum I'd guess would be upto 20K pp, reasonable for about 90% of items at my guess and wouldn't clog up the chat channels too much with spamming WTS messages.
All my opinion, but my second idea seems pretty safe, if an item can't be re-sold by companies for more than 20K without having to also send chat messages, then these 'offenders' will be become more obvious and will lose out in profits.
Sorry if it's a long post for most but feel free to leave opinions ;)