Saturday, October 23, 2010
Auction House Mistakes I Learned From
Mistakes Teach Us
Free Gold Tips and Tricks are posted here every day. These are tried and true methods that work and speculative ideas about what could work. Learning what to do comes with also learning what not to do. Mistakes are the stepping stones to understanding. When you understand what went wrong, you can focus on preventing repeated mistakes. Here are two examples of things I've learned by screwing up.
Auction house gold making can quickly be derailed by incorrect pricing. It only takes a couple of times posting items for the wrong price to learn a quick lesson. Always check that you have posted your items at the correct price! Once I was so excited to see that the10 Icescale Leg Armor I had just posted for 225g each had all just sold out within minutes of posting. I quickly ran to the auction house to see who had bought them all only to see I had incorrectly posted them all for 25g each. Ouch! From then on, I always double check my auctions. Good thing too. I had accidentally posted a Captured Firefly for 15g instead of 15k, but caught it within seconds of posting. That could have been a huge loss as I had paid 2k for it.
Buyouts Raise Prices
Don't buy out every low priced material you find. Why? I love to find great deals on the auction house. Problem is I tend to buy all of the items priced below my purchasing threshold. It took me forever to finally realize why there are only higher prices items re-listed after I do a big buyout. Duh! Now the cheapest one is above my threshold and new sellers will post their materials as close to that higher amount as possible. It pays to leave a few on the auction house at low low prices. Why? The next bot farmer who comes along will post all of his goods below the lowest price. This may lose you a few stacks of cheap materials, if another buyer snatches them up before a seller comes along, but trust me it is well worth the risk. Sometimes you can really hit it big. Just remember that every item you buy out at one price is pushing the next posters price that much higher for your next round of purchases.
This post was submitted for inclusion into the monthly blogging carnival at Just My Two Copper.
Image taken from The Word It Book by Armin Vit.