diff --git a/eos/gamedata.py b/eos/gamedata.py
index f97aaa58f..9cbb28a3b 100644
--- a/eos/gamedata.py
+++ b/eos/gamedata.py
@@ -254,6 +254,7 @@ class Item(EqBase):
         self.__offensive = None
         self.__assistive = None
         self.__overrides = None
+        self.__price = None
 
     @property
     def attributes(self):
@@ -441,34 +442,22 @@ class Item(EqBase):
 
     @property
     def price(self):
-        try:
-            if not hasattr(self, "__price"):
+
+        # todo: use `from sqlalchemy import inspect` instead (need to verify it works in old and new OS X builds)
+        if self.__price is not None and getattr(self.__price, '_sa_instance_state', None):
+            pyfalog.debug("Price data for {} was deleted, resetting object".format(self.ID))
+            self.__price = None
+
+        if self.__price is None:
+            db_price = eos.db.getPrice(self.ID)
+            # do not yet have a price in the database for this item, create one
+            if db_price is None:
+                print "Creating a price for {}".format(self.ID)
                 self.__price = types_Price(self.ID)
-
-            # Get the price from the DB
-            price = eos.db.getPrice(self.ID)
-
-            if price:
-                if self.__price.time > price.time:
-                    # The object is newer than the DB, update the DB.
-                    eos.db.add(self.__price)
-                    eos.db.commit()
-
-                if self.__price.time < price.time:
-                    # DB object is newer than local object, update the local object
-                    self.__price = price
+                eos.db.add(self.__price)
+                eos.db.commit()
             else:
-                pyfalog.debug("Unable to fetch item price from database.")
-
-            return self.__price
-
-        except Exception as e:
-            # We want to catch our failure and log it, but don't bail out for a single missing price tag.
-            pyfalog.error("Failed to get price for typeID: {0}", self.ID)
-            pyfalog.error(e)
-            if not self.__price.price:
-                self.__price.price = 0
-            self.__price.failed = True
+                self.__price = db_price
 
         return self.__price
 
diff --git a/gui/builtinContextMenus/priceClear.py b/gui/builtinContextMenus/priceClear.py
index 0a2dfae63..b49673f96 100644
--- a/gui/builtinContextMenus/priceClear.py
+++ b/gui/builtinContextMenus/priceClear.py
@@ -3,6 +3,7 @@ import gui.mainFrame
 # noinspection PyPackageRequirements
 import wx
 import gui.globalEvents as GE
+from service.price import Price
 from service.settings import ContextMenuSettings
 
 
@@ -21,6 +22,8 @@ class PriceClear(ContextMenu):
         return "Reset Price Cache"
 
     def activate(self, fullContext, selection, i):
+        sPrc = Price.getInstance()
+        sPrc.clearPriceCache()
         wx.PostEvent(self.mainFrame, GE.FitChanged(fitID=self.mainFrame.getActiveFit()))
 
 
diff --git a/service/price.py b/service/price.py
index 6572adea4..35fdc69b6 100644
--- a/service/price.py
+++ b/service/price.py
@@ -34,7 +34,7 @@ from service.market import Market
 pyfalog = Logger(__name__)
 
 
-VALIDITY = 24 * 60 * 60  # Price validity period, 24 hours
+VALIDITY = 60  # Price validity period, 24 hours
 REREQUEST = 4 * 60 * 60  # Re-request delay for failed fetches, 4 hours
 TIMEOUT = 15 * 60  # Network timeout delay for connection issues, 15 minutes
 
@@ -128,7 +128,6 @@ class Price(object):
                 priceobj.failed = None
 
                 # Update the DB.
-                db.add(priceobj)
                 db.commit()
 
                 # delete price from working dict
@@ -144,7 +143,6 @@ class Price(object):
                 priceobj.failed = True
 
                 # Update the DB.
-                db.add(priceobj)
                 db.commit()
 
                 del priceMap[typeID]
@@ -160,7 +158,6 @@ class Price(object):
             priceobj.failed = True
 
             # Update the DB.
-            db.add(priceobj)
             db.commit()
 
     @classmethod
@@ -217,6 +214,10 @@ class Price(object):
         else:
             self.priceWorkerThread.trigger(requests, cb)
 
+    def clearPriceCache(self):
+        pyfalog.debug("Clearing Prices")
+        db.clearPrices()
+
 
 class PriceWorkerThread(threading.Thread):
     def __init__(self):