Here are some tips from players that have made thousands of gold by selling crafted items to others. We hope you find these tips useful. Make sure you've learned the basics at our Auction Houses page before reading this page.
Determine Item Demand
Find out what items players will buy. You can do that by simply listing a bunch of items at the auction house. If an item does not sell, re-list the item at a cheaper price or try the same price again. If you are unable to sell the item after multiple auction house listings, you will need to either drop the price some more or just quit trying to sell it. Some items, such as grey-colored items, should be sold to the vendors. Some profession-made items are only meant to be used to raise your skill, and other players will not wish to purchase them. You'll have to determine which ones they are through experience.
Check Other Sales
Before selling an item, check the price other players are selling it for. That way you'll have a more realistic idea of what price to set for your item. You should set the item's minimum bid at a similar or cheaper price. If you set the item at a more expensive price, it will not sell unless someone else buys out the cheaper ones. If you price it lower, people will buy your items first. However, if you set the price too low, you might drive the cost of that item down and make less profit.
Suggested Price vs. Real Price
When you place an item in the auction tab for sale, the auction house lists a suggested selling price. This may or may not be close at all to what the item is really worth. Some items may have a very high price that players would never pay. Other items may have a really low price that is far below the items market value. You need to determine what the "real" price of the item should be.
What Determines Price
There are many factors so it's difficult to nail down, but these are some general guidelines:
- Demand - How bad do players want or need it
- Rarity of the item - Items that are more rare will typically sell for more. Be on the lookout for various items that are sought after by many professions, such as Heart of Fire, Wildvine, etc.
- Level of the item - Higher level items sell for more money
- Cost of sale to the vendor - If the vendor will pay a lot for the item, players will set the item price above the vendor cost.
- Auction house availability - If there are a lot of the items in the auction house, it may drive the price down.
- Trade items - If the item requires rare or expensive components, the item will typically be sold for more money.
- Level of the person who will be using the item (i.e., listing a level-10 item for 20 gold may not work as few level-10 players have 20 gold)
Always have a buyout price. Many players want the items now and don't want to wait. Many players are willing to pay the higher buyout price just to get the item now. Try not to set a ridiculously high buyout price. This will cause buyers to say "what is that guy thinking " and they might not even bid on your item based on that buyout price. Buyers are easily offended. It is better to not have a buyout price than to set one too high. The exception might be extremely powerful items such as purple items or items whose worth is completely unknown.
Timing can be very important for selling items. If the auction house already has a lot of the items you are trying to sell, you should wait until another time. You can also just lowball the current prices by setting your price below all of them. There are also good and bad times for auctions. A good time is when a lot of people are playing, such as during the evening or weekends. A bad time would be very late at night.
You can disenchant some items and then sell the resources to enchanters for a bigger profit in the auction house. You can also make more money by enchanting an item before selling it.
Create a Sales List
If you're selling profession items that you create, you can write a list of the ones that you will be selling. You can include what components are required to create those items as well. You should also include your current price list. This list will help you be more organized and let you spend less time selling your items. You'll need to continually update your list as you add new items for sale or remove items that do not sell. You'll also need to modify the prices as the market for those items changes. You may find spreadsheets are very useful for this purpose. You can also print them out easily.
When you sell an item, place a check on your list so you know to restock that item in your store.
Purchase the biggest bags you can for your bank slots. Buy as many extra bank slots as you are able to. Organize your bank with all of the profession components in their proper place. If you're a tailor, one bag can be for mageweave, one for runecloth, and another for thread, dye, and other special ingredients. If you keep everything organized, you can gather the components more quickly, create the items, and sell them in the auction house.
Some players make a profit by buying items that are listed too low and reselling them at their "proper" price. Their profit is the difference between the price they paid for the item and the price they sold it at. This method is for experienced traders only, as you need to really know the prices before attempting this. Sometimes players place an item in the auction house and set a really low price because they don't realize what an item is worth to other players.
Memorize a bunch of different search options so you can quickly check what is for sale. Examples:
- Select epic quality only and hit search (lists all epics)
- Select weapons, level 50-60, check usable items, and hit search (lists all weapons level 50-60 that you can use; you can change the levels)
- Repeat the above search with armor selected instead of weapons to list the wearable armor available for your level range
- Select recipes and check usable items (shows all available recipes that apply to your professions)
- Select recipes, select quality uncommon, and check usable items (shows recipes that are green or better for your profession, if any)
- Select trade goods and type in mageweave to list all of the mageweave cloth for sale.
Use the Number Pad
You can use the number pad on your keyboard to more quickly enter the prices of items as you list in them in the auction house. Make sure your "num lock" key is on. You can also press "tab" to scroll between the price boxes.
Gems now searchable in the Auction House under the heading of Gem with the gems then broken up by color so you can search for all gems of a specific color.
You might find a PDA (personal digital assistant) extremely helpful for running an auction house business. You can take notes, read lists, and so on. You can also alt-tab out of the game instead of using a PDA to update your lists. Then there is the classic piece of paper and pen!
You can hit control-s to disable the sound effects if someone is making really annoying sounds in the auction house. Don't forget to re-enable them after you leave.
Auction House Campers
Some players do nothing but sit at the auction house and buy and sell items. It can be a lot of fun because buying and selling items is a fun alternative to fighting.