Monday, September 13, 2010

Auction House Strategies Made Easy.

Today was a good day for me in the auction house. My bank has officially broken 10k now, WooT!! When I found out this morning that I had broken my biggest goal yet. I started formulating this post for today. I haven’t made the gold as fast as other people, and I’m sure there are millions of others out there with a lot more gold than my measly little 10,000 gold, but by gosh this is a crowning achievement for me. I must admit that I’ve been in a semi-downtime in my play time, by mainly focusing on the house, so everything I’ve made has been almost strictly from buying and reselling stuff in the auction house. Today I’m going to provide some of the strategies I employed and still continue to employ in my auction house journey. Here they are.

Strategy 1: Get Auctioneer Current in Scans

With the reading I did before I started making gold with the auction house. The number one thing I read was make sure that auction house is up to date and current on its scans. In the past the only thing that stopped this from happening was my own laziness. I had always heard that auctioneer was a powerful tool, and I’ll stand before anyone out right now and say “yep they were right”. It is a powerful tool when used correctly. Just by installing doesn’t mean that gold is going to start flowing into my pockets. My suggestion for auctioneer is this; if you don’t have it, get it and start using. If you do have it and haven’t been using it, get it up to date and start using it. When I started this venture my auctioneer was out of date, so I started scanning the auction house twice a day, once in the morning and once at night before I went to bed. I did this for about two weeks straight. This is a great way to get auctioneer current, and my suggestion would be to check the shut down feature in the auctioneer settings, and start your scans before you leave for school/work and again before you go to bed. With this feature activated you will be logged out of WoW when you get done scanning the auction house. If you have already tinkered with the auction house without using auctioneer you'll probably be shocked at the difference it'll make in you making gold.

Strategy 2: Set your Limits
If you read my first posts you’ll remember me saying that when I started my bank toon that I started with 300 gold seed money from my paladin. Once I had my first scan out of the way, I started targeting items that marked at 70% or lower. I did this because I knew that I could mark them up and still make a profit and not go over 100%. That was my limit that I set for myself, I still make sure and I try my hardest not to go over 100%, if you feel comfortable going over 100% then knock yourself out, but that is something that you have to decide for yourself. At first when I would buy stuff to resale there was a lot of times that I had only a few silver to my name when I got done buying and posting my auctions. I did this time after time until I reached about 1000 gold and then I would set my limit for the day. I would sit down and say to myself that I wasn’t going to drop below 300 gold, and as I would get closer to my limit I would start wrapping up my auctions and post them. Then it was just simply a matter of sitting back and waiting for things to sell.

Strategy 3: Learn What Sells
I experimented with my server. The one thing I did is I focused on things that come out of Northrend, more over I targeted trade goods, items that are used in the professions/ On Thunderhorn I learned that all the elemental items sold pretty good. So I made sure that when I scoured the auction house I would look for elemental shadow, fire, life, and air, I tired elemental water but didn’t have that good of luck with it. I made sure that I looked for frostweave cloth, titanium ore, and as I started to earn more gold I starting looking at the flasks to sell for the raiders. You can use flasks two fold one of course is earning gold to line your pocks with; and the second is you can learn it to see when the majority of the guilds on your server run their raids. I found with my server they primarily run on Thursday nights. I can tell this because come Friday morning I very rarely have any flasks that didn’t sell. My tips for Flasks is when you find out what nights the guilds on your server raid use the days before raid night to build up a stock pile of various flasks so starting the day before raid night you post your stockpile and start earning gold. The reason why is on raid night the flasks are going to be marked up by other sellers. If you bought your goods cheap before raid night you can match or undercut their auctions and still make gold. On a side note also experiment with your stack size and see which stack sizes sell the quickest. Example is I have a toon on the server Zul’Jin that I’m using to teach this guy I know how to earn gold in the auction house. Well one night I had bought these eternal shadows in the stacks of 20, I had two stacks of 20 if I’m not mistaken. I went like 4 days without these things selling. So I tried a new approach and broke them into stacks of 5 and sold every one of them before the night was through. Since that experiment it’s very rare that I don’t have Eternal Shadows sell on that server since I started varying my stack size.  The biggest thing I can suggest here is that you watch the people on your server and see what they want. Once you find out what they want get it and sell it to the, for what they are willing to pay.

Strategy 4: Stick with it and learn.

No matter how bad it gets stick with it, don’t give up on yourself. There are going to be days where you don’t sell crap, and sometimes maybe even a few days. There were a couple of times I was worried I was going to open my mailbox and see a bill because I owed someone gold because I wasn’t making any gold in the auction house. Regardless of how rough it gets just stay with and repost them auctions and they will sell. It may take them awhile but it will sell.  Over all the biggest thing you want to make sure of is that if you buy 300 gold worth of auctions that when those items sell and you collect your money that you collect more than 300 gold, even if you collect 301 gold it’s still 1 gold more than you had when you started.

Above are the four biggest strategies that I used to make gold on the auction. Every gold I make I get closer to the gold cap and being able to get my toons what and where I want them to be so that my gaming experience in Azeroth will be more pleasurable. Please try these out and let me know how they work for you and feel free to ask any questions you may have about your auction house woes. I am willing to help in almost any way I can so that you making gold may be a little less hectic as my experience has been. As well please tell your friends and guild mates about me, come back often.

Get to Sellin!

Revdun

4 comments:

  1. Nice beginners guide to the Auction House! I especially like that you talked about the less-mentioned way to make good money - simply selling stuff cheap. Usually WoW-gold blogs talk about either dominating a market or "flipping" items, but just selling alot of stuff for a nice price will make you good money as well.

    ReplyDelete
  2. Thank you I'm glad you enjoyed the article. My thought was let the other people play by the Wow gold blogs ideas of market domination. I just want to make gold. I hate seeing items way over priced because someone is trying dominate and make gold fast.

    ReplyDelete
  3. I agree with Zinn, VERY good guide! This sums up pretty much everything I do at the auction house!

    My auctioneer ended up being buggy so I uninstalled it =( It really was a PITA and I suppose I sort of worked backward...I chose my niches and then set out to be the primary supplier in that niche...such as cooked dragonfin....I am always the only person with fishies up =) I can easily buy out the 55g a stack fish and cook it and repost for 100g a stack (or 5 for 30g). I need a heavy, heavy duty tutorial to learn how to use Auctioneer properly! *pokepoke* Hehe...

    I think I'm in the middle to late part of the "stick with it" phase. I've learned what works for me/what people want and have stuck with it =)

    ReplyDelete
  4. Thank you I'm glad you enjoyed the article. I have been working on a more in depth guide to auctioneer to really show how to use it and feel comfortable and be able to interpret that information that auctioneer gives you.

    ReplyDelete