Post at 1-2 gold above the lowest undercutter on your market for a 24 hour period. See if/when your item sells.
Not all items are going to sell at a 1-2 gold marketup so look to increase by 3-5%instead. You'll be shocked to see that eventually your items can sell for more than the lowest current price, just don't flood when posting or else you'll encourage more undercutting.
Example: For abyss crystals (currently at an all time low of 65-80 gold each) I post stacks of four at 75 gold each eventhough the market is undercut down to 65. Within 36 hours all three of my stacks of four sold.
I highly encourage that you attempt to do this with enchanting mats so that you won't lose money from the auction deposit fee should your items not sell.
For all tips, click on the "21 Tips in 21 Days" label below this post.
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12 comments: on "21 Tips in 21 Days to Auctioneering: Tip #4"
kokushibyou said... June 10, 2009 at 8:54 AM
Enchanting mats don't have a AH deposit fee.
kokushibyou said... June 10, 2009 at 8:56 AM
... Woops misread that last line
please ignore my previous comment
Anonymous said... June 10, 2009 at 9:16 AM
How big is the AH cut?
Anonymous said... June 10, 2009 at 9:29 AM
"How big is the AH cut?"
5% on your faction AH and 15% on the Neutral AH I believe.
Regards
Glinda
Indy said... June 10, 2009 at 10:58 AM
This is probably a semantic quibble... but I consider the 'AH cut' to be the 5% "tax" it takes from the sale price. The 'fee' or 'deposit' is what you pay when listing, and get refunded if the item sells.
Using one term to refer to the other is a bit confusing, at best.
Morane said... June 10, 2009 at 12:33 PM
I think this is one of the most under-appreciated tips you have. It's simply not necessary to undercut just to sell stuff.
Markco said... June 10, 2009 at 12:44 PM
I reworded it for clarification
Anonymous said... June 10, 2009 at 2:02 PM
I agree with the above. Undercutting is not always necessary, especially not if there's strong demand. If you don't lose anything by listing (for example low or no deposit fees) always try listing your stuff higher than market price, at least once or twice before giving in. Even though sometimes you'll be unlucky and be caught on a downward price swing, more often than not, you'll sell the items for higher profit.
Wiggin said... June 10, 2009 at 3:47 PM
Definitely a good tip. It all comes down to knowing your markets and checking before you post. If I'm posting an item, say Thorium Ore, and the lowest available is 30g, but there are only 2, and it then jumps to 5 auctions of 35g and 10 auctions of 40g, I'll set my to a 35g BO with a lower bid price. It's amazing how it "tricks" people into thinking it's cheaper.
Markco's tip is even more important depending on how active the market it, the more turnover, the more potential you have to set your prices higher.
Anonymous said... June 10, 2009 at 4:18 PM
I call this "overcutting". It's not always necessary to have the lowest price if the sales volume is high enough to eat through to your higher-priced item.
Darth Solo said... June 10, 2009 at 9:27 PM
Depending on a variety of factors I use this tactic frequently. For example there are some dumbasses who insist in selling glyphs at slightly over 3G while undercutting everyone else who's selling them at 19G or above. If there are only 1-2 glyphs at 3G I will undercut the 19G auction by a bit and wait for the dumbass to sell his stuff.
Goth said... June 11, 2009 at 4:54 AM
@ Darth
I have felt the same thing about undercutters, however I am attempting not to take their tactics to personally. If their price is a "real" bargain I have found that it is easier to just buy-out their stocks and relist on Monday or Tuesday. Weekend warriors want to make gold as quickly as possible so the sooner you get them out of the market the less chance they will have of making a negative impact to cost. The same concept goes for my profession as a disenchanter I buy low cost greens and blues for profit, selling the mats, while having a positive impact on my servers economy. The more gold that changes hands the more likely the sellers will in turn have the gold available to buy my enchanting mats and scrolls.
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