Hello,Long time no see. Lately with the release of Runed Orbs i tried to get a hold of a few at low prices to get a boost of a few k gold on my stash. I've got 2 for 2500g and another 2 via bid with 1100g each. The problem is that 2 days after that some guy flooded the AH with 6 orbs at 1000g bid 1200 B/O.
There are several facts about these types of goods (they are into an extent the Sunmote of Wotlk):
1. There will allways be someone selling them each week (raids and pugs are made each week)
2. There will allways be someone buying them
a) Casuals that dont have time to raid , but want the gear :)
b) Raiders that want to consume DKP on some rare items rather than what can be crafted with orbs
c) Other business men
So i have several options here:
1. Sell them with little to no profit (even a loss) at 1199 g or something
2. Wait with them for a while to establish when is the highest request and the lowest offer (risk of the price fall even more)
3. B/O all of them and control (attempt to) the market
4. Just put them in AH with an extra 100 -> 150g profit for 2 weeks and hope they will sell eventually
5. Advertise on Trade, escape the AH cut, and sell with little profit
Out of these options 2 is the one with most chances of success, however this means ~ 5k gold that are on hold for undetermined time.
This was my mistake because i got greedy over a trade with someone and bought them with not a lot of chances of profit.
What i also noticed with this experiment is my lack of interest for low /small profit. I used to "transport" items, bid for 1-2 g profit and so on. With more gold the more greed, the more risks, and less interest to actually make a steady income.
So i finally concluded that this should never happend again, and i will slowly and steady start again transporting, and biding for small profits.
Have fun playing and remember that nice profits are not allways what they look like.
3 comments:
A very good lesson that teaches us to never forget the basics of the trade business. :)
Booty Bay Merchant
http://bootybaymerchant.blogger.com
Well I think it also depends of the item demand and price... For example I was selling wispcloaks (http://www.wowhead.com/?item=41609) for 500g at some point...sold about 4-5 of them, then suddenly some1 put 1 on the AH at 400g...while I had 1 at 500g too...so I bought his, and put it immediately for 500g like my other cloak and they both sold for 500 on B/O...
I make all my money from nickle and dime stuff. I found the big things, maybe they will sell, but it will take a long time to do so. I'd rather sell 100 of an item and make a gold, than wait, repost, wait, repost, and finally get a 100g profit. Just my thinking.
People really need to consider the flow of the item, and if prices will come back. The later is really a gamble; for example now Ti ore is going through the roof. Will it payoff? Who knows. I'm sure the guys who have a ton of it and can prospect/cut it on the first day will make tons.
Another example, I made a bunch of infinite dusts when the market was 5g each. Now it's 4g each. Will it bounce back to 5g in the next patch? Who knows. Generally its best to ditch stuff as soon as you can, because the supply is infinite and eventually prices will get lower. However, 5% of thigns the price may get much higher due to development changes.
Also never forget what you are in the market for. For me, i just want my professions leveled and my last epic mount. Once i get that gold I see no point to waste more time getting worthless gold.
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