Strategic Plan for the Wealthy Auctioneer

Posted by Markco at 8:00 AM

The large majority of players using the auction house are one time shoppers/sellers who are unaware of the eb and flow of the river they are temporarily traveling. Nor do they understand the dangers of attempting to cross without understanding the factors involved. Luckily, you are not one of those people. You came to this blog and the hundreds like it because you wanted to unlock the 'secrets' to making gold but mostly because you want to understand.

There are three 'pieces' to making gold that you need which mirror the factors required for success in real life:

1. Motivated to Learn
2. Organizaion
3. Determination to Stick to a Plan

Being motivated to learn is what will begin your quest for gold domination as well as keep it healthy and growing. If you ever stop learning you will soon fall prey to the person that didn't stop. When you first start out you want to be a voratious reader and be like a sponge to a current of knowledge. Experimentation is also part of being motivated, so feel free to take big risks and remember that even if you lose out you still learned something in the process.

Organization is what seperates two well learnt auctioneers from each other. If you have everything planned out into a system then you will not only save time but your customers will come to expect your goods. Organization is the key to creating a consistent income, as well as helps you learn your own markets because you are always present in them.

Determination to stick to your organized and motivated plan for success is what allows you survive tough times. Don't mistake determination for stupidy however, as a wise man once said: Consistency is a virtue if you aren't a screwup!

What should you do with this post?

First, get a piece of paper out and organize everything down to running to the mailbox for all your characters. Create a day by day to-do list as well as organize any cooldowns you might have on various cycles. Try to focus on a Tuesday to Tuesday cycle that you can follow along and repeat. Write down everything including which characters you log on, what you will sell and in what quantities, time you will spend farming, etc. In other words become a well oiled machine following an intricate plan for success.

Second, stick to your plan and ride the tough days out. Think long term, and always look to take advantage of those that aren't. Look for price gougers, people dumping stocks, etc.

Finally, keep learning and experimenting. You'll find that the time you save with your organization will allow you to mill around the auction house looking for deals or taste markets. Find farmers, play in trade chat, or do anything else you can think of to continue learning and exploring.

Most importantly... HAVE FUN!