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postheadericon Warcraft Advanced Gold Guide – Single Market Approach III

Selling.

Following this system with materials, reagents and consumables you can build up cheap stock and make killing after killing without ever farming anything yourself. This is a very effective method of making money in one market. It does however take time.

Selling is an art in itself however. For example, you have 50 stacks of iron bar. The average price you paid was 1 Gold 25 Silver per stack, they are now showing on the AH at 4 Gold each. An easy undercut.

Wait. Firstly put a couple of stacks on, 5 maximum, see how fast they sell, and more importantly WHO TO ! You will be told who bought it by mail.

If they sell fast, and to the same person, open up your “Social” tab, and “Whisper” that person directly.

“Hi, I’m [your name] you just bought a load of iron bar off me, do you want more at the same price”

Then set up a direct trade with them. Cutting out any auction tax.

Also if you flood the market, you risk being left with unsold stock, and you might get someone so desperate to sell that they undercut everything you have. You will then be faced with taking them all off auction and re-auctioning them (and losing your deposit), or sitting back and waiting  and hoping that yours sell.

Of course if someone undercuts you with say 10 stacks at a much lower price, consider buying them out. Which brings us nicely to the buyout prices.

Saronite Auction Prices

Always set a buyout ! Many people come to the Auction House to buy something they need now.

They would rather pay more and not wait than wait for your bargain with a buyout to finish its 12, 24 or 48 hour auction. Perhaps people think they will spark a bidding frenzy if they don’t set a buyout. Nope that won’t happen, and if there are a couple of bids then 99 times out of a 100 they will increase the bid by 1 copper piece.

It’s simple

Not setting a buyout will lose you customers, possibly lose you a sale, and over time lose you gold.

The level of buyout to minimum is something that you will learn. As a starting point, try this formula;

If we have an optimum price in mind, set the minimum to that, or 10% lower, and the buyout to 10% above.

Have a look at the Saronite auction above.

Do not flood the market. Many of these items here won’t sell. So the Auction levy will be wasted, as will your time and effort. If the market is full wait or check the other factions market. Also consider going to the trade channel and undercutting the best price very slightly – you will save the Auction Tax, so this should cover your undercut.

This saronite ore costs a lot to auction, and at the time we took this shot there were 7 pages of the stuff on this server. Why add more?

Also, this guy is selling for barely more than you can sell to a vendor for.

Can We at this point recommend the free addon at  http://www.wowecon.com/

This site could help you get the very best data for your marketing strategy. And the most accurate. It gives the price items actually SOLD for, as opposed to the price that was ASKED. A very important difference..

By using this addon (even the free version) for some time you will have a far greater data set, and that set will contain only the data you are interested. The averages will be the REAL selling averages, not an assumed one from a rough calculation.

Look at our chapter on Material Master for instructions on how to manage the data from your own portfolio. Although you don’t need to use our method, it does provide a pretty good template from which to work on.
Wowecon will give you the best data for your server. We definitely recommend it.

The premium version weighs in at $3.33 per month at the moment. Check out the free version, then consider upgrading.

We have nothing to do with WoWecon, but have used the software when setting up our guide, and found it very useful.

 

If you want to know how profit can be made more quickly, and are prepared to put in the effort to set up your  “Sales and Order Processing team” – the four ‘toons positioned at the various Auction Houses as we described earlier. Then you can look into the multi market solutions within this guide.

There is software that will get sales information for you, giving you the actual sale prices. It is called “Wowecon” and , although manually collecting this information is fine. Wowecon will collect from all auctions from people with it installed. It will collect only the actual auctions that SELL.

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