@chemystery said:

I mean, they're not really cosmetic items the same way as TF2, because emoticons/backgrounds are literally worthless, which is why Valve had to make gems in the first place so there is a way to destroy emoticons/backgrounds because they're so stupid and useless. I mean, sure, the scarcity of "vintage" items would increase their price somewhat, but people don't actually like emoticons/backgrounds.

Well gem sacks are now over a buck at the marketplace. Sounds like a pretty good time to make some extra credits out of your unwanted emoticons.

If it sticks around I can see this helping the market place where items are moving instead of sitting there at $.03. People will buy those items increasing the average as the cheaper ones are bought up. I think it is an interesting system, Steam does some crazy shit.

I'm not sure if you can keep making gems after this auction event. The FAQ states that you may keep your gems, but nowhere does it say that you can keep making them. Either way, I don't believe that high gem yielding items will keep their increased value for long due to the event ending soon unless there is value in making booster packs. Or until Valve instates another event that utilizes these gems.