I have been using auctioneer 1 hour per day to try and see if I could come up with the best ways for you guys to use this addon for making gold.
I gave my alt 1000 gold and sent him on his way to make his first scan.
I set the profit margin to 5 gold and searched under resale.
THAT WAS A MISTAKE.
Over the course of three days I was making very little money and investing way more than I was making because items that net you a 5 gold profit each are often very expensive to buy initially.
I lowered the profit margin to 50 silver and instantly started making much more gold per day.
The first two days searching at 50 silver I made up my 1k gold investment. By day three I was making 400-800 gold a day with just one hour's worth of using auctioneer. Not to mention the fact that the number of auctions I was posting went up around 40-100 per day.
Why does the 50 silver profit margin work so well? First off the majority of items selling for 5 gold or more profit are weapons, armor, some flasks, and other high value items that do not sell as frequently as other cheaper items on the auction house.
Items not selling well and being expensive to post can really hurt your earnings.
By setting the profit to 50 silver I was able to target the cheaper goods which sell better, and therefore bring in more profit. You might be thinking to yourself, well, self, weren't the items worth 5 gold profit also showing up in the 50 silver profit search? Yes, yes they were, but they were no longer the only option available.
What items was I purchasing?
I gave my alt 1000 gold and sent him on his way to make his first scan.
I set the profit margin to 5 gold and searched under resale.
THAT WAS A MISTAKE.
Over the course of three days I was making very little money and investing way more than I was making because items that net you a 5 gold profit each are often very expensive to buy initially.
I lowered the profit margin to 50 silver and instantly started making much more gold per day.
The first two days searching at 50 silver I made up my 1k gold investment. By day three I was making 400-800 gold a day with just one hour's worth of using auctioneer. Not to mention the fact that the number of auctions I was posting went up around 40-100 per day.
Why does the 50 silver profit margin work so well? First off the majority of items selling for 5 gold or more profit are weapons, armor, some flasks, and other high value items that do not sell as frequently as other cheaper items on the auction house.
Items not selling well and being expensive to post can really hurt your earnings.
By setting the profit to 50 silver I was able to target the cheaper goods which sell better, and therefore bring in more profit. You might be thinking to yourself, well, self, weren't the items worth 5 gold profit also showing up in the 50 silver profit search? Yes, yes they were, but they were no longer the only option available.
What items was I purchasing?
- Herbs
- Flasks/Potions
- Metal and Stone
- Cheap Greens for Disenchanting
- Enchanting Mats
- Cloth
- Meats
- Glyphs
21 comments: on "Auctioneer Resale Profit Guide"
Anonymous said... January 21, 2009 at 8:45 AM
What an addon i have been using it since you posted it on you blog and have made a ton of profit i also look for flasks/potion/elixers that a raid would use as these sell really fast and every raid needs a boost.
On a bad note i use the vendor section on the addon with 1 copper profit i have noticed that some of the items that say you are going to gain profit are wrong eg Fel Hide auctioneer says it will sell for i think 50s but this is wrong i started a lvl 12 horde to try see if i had lreaned to make profit for a low lvl i started of with 25s got it up to 75s i 20 mins and then i went and had a look a vendor search i bought fel hide for 55s sold to vendor and made a loss yes a loss of 40s i was very unhappy but i didnt mind as i still had items for sale. So the point is dont trust everything you see i might be best to check items before you buy them.
Anonymous said... January 21, 2009 at 8:53 AM
Great blog and it has helped me alot. Found out a nice way to make money now after the 3.0.8 patch: On my server the normal price per Ink of the Sea is about 4g, price per Snowfall Ink is about 70g. Do the math and you can earn a lot of money. Just don't flood the market.
Anonymous said... January 21, 2009 at 10:42 AM
Very nice post, gotta test it :)
Markco said... January 21, 2009 at 1:40 PM
Let me know how it goes :)
Markco said... January 21, 2009 at 3:36 PM
In response to Bearr:
GREAT IDEA :)
Definately should take advantage of this before other people catch on.
Anonymous said... January 21, 2009 at 6:39 PM
I've been using Auctioneer since pre-TBC before SearchUI was even introduced.
These are settings I use on Resale:
Minimum Profit: 50s
Minimum Discount: 50%
Minimum Seen Count: 100 (to be accurate on prices and profits I set this very high)
I check for both bids and buyouts but generally bids. I also filter it so only white items show up.
Anonymous said... January 22, 2009 at 6:18 AM
Great guide. A video would go along great with this guide, a quick helping hand on how to search for the most profitable whites in the shortest time etc.
Anonymous said... January 22, 2009 at 8:53 AM
Euhm just a wierd quick question... I can't seem to find out how to search the function to find
"These are settings I use on Resale:
Minimum Profit: 50s
Minimum Discount: 50%
Minimum Seen Count: 100 (to be accurate on prices and profits I set this very high)"
How do you make it search for that?
Markco said... January 22, 2009 at 10:20 AM
You need to use the appraiser tool. If you mouse over the little yellow vertical bar just under your minimap you will see a horizontal list of tools appear. Click on the magnifying glass that is the second one from the right. This is your appraiser tool for searching the auction house based on your last scan.
eyeball knight said... January 23, 2009 at 10:17 AM
I'm confused, what does PCT stand for? Do I want the highest orlowest % PCT? I tried to look up a definition on the auct. wiki, tried to figure it out for myself.. I just want to make sure how to read it.
Markco said... January 23, 2009 at 10:23 AM
PCT just stands for percentage. When you search by PCT you are searching by the percentage value of the item compared to the market value (as determined by auctioneer). The lower the PCT, the better the deal.
Naspoh said... January 25, 2009 at 6:56 PM
What is the name of the Mailbox addon that you use to take all your actions?
Markco said... January 25, 2009 at 11:10 PM
Go to google and search "warcraft open mailbox addon." You should be able to find several that way and pick whatever one you feel will work best for you. I like going for the simpler ones that just open the mail.
Anonymous said... February 5, 2009 at 11:09 AM
i have a quick question. do you limit your bidding based on time left? i find myself skipping over the auctions with 48h and sometimes even 12h time remaining because there is so much time left to be outbid/bought out before i get the deal. should i toss this mindset out the window?
Markco said... February 5, 2009 at 5:53 PM
Bidding is a no-risk practice so I bid regardless of the time. If you don't have the play-time or money to bid on everything you see then limitting yourself to time left is a very good idea.
Anonymous said... March 30, 2009 at 2:51 PM
Ok this seems like really good guide to follow but at the same time what do you really sell? new world or old world stuff? It seems to me if you sell old world mats they will not sell as well as eternals, saronite /titanium bars, or any other Northrend drops do. This method just seems to be a big risk investment. I do not know what to do.
Bill said... March 30, 2009 at 4:23 PM
Certain old world mats are used for leveling professions. Do a search for various profession's leveling guides. They will give you an idea of what people will buy. Even look at different guides of the same profession, as they differ.
Start small. Watch the market a bit. Buy a few stacks of certain cheap mats. Watch when the market dries up for that item. Usually when 1 or more people are leveling a profession. I learned a lot about JC mats because I leveled a JC. And I remember when a particular item ran out it got EXPENSIVE. But I wanted to level NOW and damn the expensive. I had the money.
Weimar said... April 8, 2009 at 8:46 PM
I have been trying to get this resale option down. It seems my server is just full of junk.
So first a question. There is a column that says Reason. Mostly it is filled with Resale:bid. Is it telling me to big on the item or what exactly does that mean?
Next, I sort by PCT and find things like Solid Stone. Here is a stack of 20 for a buy out of 48 silver 75 copper. I can resell that stack (supposedly) at 1 gold 37 silver. We shall see, I doubt it will sell.
The other issue is I have a lot of junk selling. Meaning stuff like a Skinning Knife, and just stuff you can buy off any vendor.
I am still trying to figure out what is the best thing to grab here and resell. Starting slow I guess.
Markco said... April 8, 2009 at 9:27 PM
Weimar: if you select purchase it will follow the recommendation such as bid or buyout. The reason tells you to resell it, vendor it, etc.
Anonymous said... April 9, 2009 at 8:43 AM
Marcko,
Great guide. I will definitely try it. I've been using auctioneer for a couple months now. Have made over 8K gold, but my search is on 8 Gold minimum profit and 80% minumum discount.
I buy cheaper items like mageweave cloth, ores, bars, herbs, but since they usually don't pop up in that scan, I just have to find them more manually.
I have never spent much time with the appraisal tab. I'll give that a shot.
Weimer - In general, don't buy anything a vendor sells. (unless you're buying it from the vendor). An easy way to get some gold flowing in is to buy some recipe's cook books/fishing books from vendors (when only one or two vendors sells it) and resell on the AH. Diversify.
Thanks again Markco
-James
Weimar said... April 9, 2009 at 10:38 AM
Markco,
Ok thanks. Now just so its clear, on the resale searcher, I'm hitting purchase and it's either bidding or buying out based on the Reason column. If I end up winning or buying out an item, I would relist it on the AH and not sell it to the vendor?
The one I sell back to the vendor for at least a minimum of 50 silver profit, is the vendor searcher. That one I just bid, not buyout, everything. What I win I usually just sell to a vendor for a profit.
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