Whether you’re new to the Auction House or have been trading for a while, players often make these same five trading mistakes. Cure these mistakes and you’ll be trading like a goblin pro.
Forgetting to Trade
A common mistake for those players new to WoW is to forget to trade. The Auction House is your friend and trading a little every playing session helps to keep the WoW gold flowing in. Those herbs sitting in your bags or in the bank are worthless unless you list them. Think of the Auction House as a ‘Daily’ and make it part of your regular game-play. For those tied to their desks during the day then the Remote Auction House is now free and will allow you to re-list expired auctions and trade a little during breaks around the water cooler.
Death by a Thousand Undercuts
Players lose gold by constantly undercutting each other on the Auction House when they don’t have to. Take the example below:
Player 1 lists Potion of Luck for around 97g. Player 2 comes along and undercuts player 1 by a massive 12g gold. Time passes and player 3 comes along and undercuts player by another 1g. Whats wrong with this picture?
Well, Player 2 may have thought that only a massive cut in price will shift his Potion of Luck. This may be a valid strategy on low population servers where there isn’t demand, but why undercut by so much? Player 3 has simply followed suit and blindly undercut by another gold – probably because his Auction Addon is set up that way. Given that Player 2 auctions are expiring, it would have been better to list closer to the price of player 1. Player 3 could even have listed above the price of Player 1 if there were few listings of Potion of Luck on the server and demand remained high.
Not Listing At The Right Price
Players often sell their items at prices determined by previous listings, as in the example above. Hence, Player 3 lists his Potion of Luck for 84g. This may be a poor strategy as the value of 84g may well be far from the market price, that is, the price most frequently traded. It’s the price that most players expect to pay, given the cost of reagents to craft the item plus a small premium. Most Auction House Addons will work this out for you, but many players configure these incorrectly or don’t maintain the pricing data leading to widely varying prices. Keep auction data refreshed and set a price limit, below which you won’t sell – at least until the market improves.
Trading is a bit like golf (or baseball if the cap fits): timing is everything. Get this wrong and however hard you come out swinging, you’ll miss the ball. Trading, to some extent, also relies on good market timing. That is, to trade successfully it’s best to sell your items on those days when demand peeks. This is normally at the weekend or on certain days of the week depending on your server. World events such as the Darkmoon Faire will also influence demand for certain items. If you really want to get into some detail and follow the market demand closely then check out these sites:
Players often sell items that have little demand and end up spending a fortune in auction fees, listing the same items over and over without success. To trade successfully you must sell those items that are in demand and have a good turnover. In general these tend to items needed for crafting. These fall under the general Auction House category of Trade Goods. Sure, you’ll want to craft the occasional Epic Chopper, but demand for these will be low compared with say a bar of Trillium. Again, check out sites like WoWuction.com and look at the reports listing those items rising in demand on your server.
If you found this article useful then you might also like:
- Gold Secrets of The Goblin Traders
- The Remote Auction House – Tips and Tricks
- The 5 Goblin Principles of Auction House Trading
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