Wow Black Market Location

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The Black Market Auction House (or "BMAH") is a type of Auction House that gives players access to bid on items normally not sold by NPCs. It has relocated to the west side of the Ring of Blood in northern Nagrand (it was located just southeast of the Tavern in the Mists at the Veiled Stair [63.8, 75.8]).

Where is the black market in Legion?

When first introduced, the Black Market Auction House was located in Veiled Stairs, in Pandaria. In Warlords of Draenor, Madam Goya moved to Nagrand, the Ring of Blood. And because she's such a traveller at heart, the Legion expansion makes no difference.

Where is the black market in Dalaran?

For the Black Market Auction House in the Veiled Stair of Pandaria, see Black Market. The Black Market [61, 15] is located in the far northeastern room of the Underbelly in Dalaran. Rogue supply vendors can be found here.

The Black Market Auction House [54, 15] allows players to bid on special items that are not normally sold by NPCs. Run by Madam Goya, she was originally located at the Black Market, near the Tavern in the Mists on the Veiled Stair of Pandaria.

In Patch 6.0.2, she decided to move her operation to the Ring of Blood on Draenor for more lucrative markets. In Patch 7.0.3, she left Draenor and relocated to Dalaran above the Broken Isles, setting up shop among the lawless elements in the Underbelly.

In Patch 6.2.0, a representative of the black market auction house was introduced, Zhang Yeoh will become a resident of your garrison upon completing N The Missing Manifest. Which comes from [Waterlogged Manifest] rewarded from the shipyard mission Black Market Journal. She allows you to browse the current active auctions, but no bids can be placed.

How it works

Instead of buying items from other players like the regular Auction House, items on the Black Market are generated and listed by NPCs. The items are listed for one day only. The items for sale vary from items that were made unobtainable, to rare drops and TCG items. All items are listed infrequently, so it should not be seen as a reliable way to farm rarities.

Mount bids start at 20,000.
Companions bids start between 1 and 20,000, depending on the original source and how hard it is to get.
Vanity/misc items start between 10,000 and 15,000.

Bidding works like the regular Auction House. There is no buyout price. The sky (or the gold cap) is the limit when competing with other players for the final bid. With a successful purchase, the item is sent in the mail. Normal Bind on Pickup rules apply, so you must bid on the correct character.

The supply of items is realm-based. Each realm will have different items for sale at any one time and prices are likely to vary wildly from server to server.

If empty, the item window will list "There are no items at this time. Please check back later."

Some NPCs

Gear up a character

No one should count on this even being close to a viable option for gearing up a character. If you can raise that kind of gold in the game, you're going to have much better success paying your way into raids for gear than hoping the right items appear for you in the black market AH (which doesn't include set pieces), hoping you can afford to outbid everyone else on your realm, and hoping you're the last one to bid before the auction ends.

Sure, it'll have some of the best rewards for sale. But that doesn't mean it'll be remotely reliable for one person to gear up quickly. It's the black market, after all. :)

Ultimately the system is going to benefit the extremely wealthy and the extremely lucky. But in all likelihood the benefits won't at all be consistent, even for those who can pony up the gold.

Placing a Bid on the Black Market Auction House

Each Black Market Auction (with several exceptions) is up for 24 hours. Length is the same as the regular Auction House - Very Long, Long, Medium, and Short.
Items on the Black Market Auction House are realm-specific and open to both factions.
Users cannot put items for sale on the Black Market Auction House--instead they are at the mercy of what Blizzard decides to display each day!
Users can bid up to 999,999, and you must increase the previous bid by 5%. However if you bid 954,000 (thanks Elvine for the tip)) then you are safe since nobody can outbid you by 5%.
There is no buyout option so be prepared to make some quick last-minute bids on popular items other users are after.
Each type of item has a different pre-set starting bid range, with fairly-common pets at 1,000, tabards and shirts at 5,000, Tier 3 transmog items at 10,000, uncommon pets and toys at 15,000, and mounts at 20,000.