There are so many ways to trick people on the auction house that I could sit down and write 5,000 words in about an hour on the subject. One of these 'tricks' is something I like to call the Artificial Ceiling. Perhaps someone more astute and in line with marketing jargin can reveal the proper name for this method in the comments section.
It's elementary my dear watson... first you get on a toon and post items for 200% market value. Just a couple as you are not trying to sell these items. Next, you get on another toon and post the same items for 120-150% market value. If there isn't much competition you are creating the stage for someone to come along and think that they see a great deal. Sure someone can undercut you but they also look like a great deal as well! If a new person running auctioneer or even just a noob browsing the ah sees your goods they will possibly buy them out as well as anyone who undercuts you.
Not a foolproof method but still an interesting way to make gold. I used to do this frequently with mammoth meats and it seemed to help me sell about 25% more meat when I set up the artificial ceiling. People just love deals, even if it's only a perceived deal.
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13 comments: on "The Artificial Ceiling"
Sajaglol said... December 10, 2009 at 8:29 AM
I am currently doing that very thing but with 3 toons working very well.
Main thing i am doing this with is crystallized fire, but am going to branch into the crystallized life and crystallized shadow for the new ammo's I stocked piled about 50 stacks of each in eternal form before the patch. I have notice shadow has took a almost 200 percent jump in price for individual eternals life seems to be holding steady for the time being.
maybe this weekend things will actually start jumping up in price.
To add the runescrolls are definitely starting to take off I sold 200 5 stacks tuesday night.
Anonymous said... December 10, 2009 at 9:04 AM
I think you should put out all 5k words for us it would be intresting.
Heywood Djiblomi said... December 10, 2009 at 9:53 AM
Three simple words:
Perception is reality.
The easiest exploit in the game, is it not?
Kizanth said... December 10, 2009 at 10:34 AM
I have only done this a few times, but it definitely works, especially if you want to force a shift in the price of an item that normally doesn't have a lot of competition. Interestingly enough, this worked with Frostweave Bags on my server, and they're now resting at about 80g each - a fairly decent amount of profit for all the frostweave cloth I get as a tailor. :)
Unknown said... December 10, 2009 at 11:44 AM
Almost the same method as i wrote about on the forums. (The Wool Cloth Way)
Maybe you took a look at that and remembered this :P
Its a really good idea and great way to make som easy gold.
Markco said... December 10, 2009 at 12:50 PM
Sorry Mastermindab I've written on this before... perhaps you looked at my write up!?
Just playing :)
Anonymous said... December 10, 2009 at 2:12 PM
It's called "anchoring".
You "anchor" the value by stating it, and even if no one else agrees with you, they tend to use it as a reference point because it exists.
Let's say we both find a battered chest, and have no idea of the real value of the contents. If I jump in and say, "I'll give you 1g for it," I've anchored that as a reference point. If you say, "I won't take less than 500g for it," you've set the other reference point.
So now an object of unknown value has reference points "anchored" at 1g and 500g, and our haggling will go toward one or the other reference points, but not beyond them. (e.g., I won't offer MORE than 500g, and you won't take less than 1g.)
Anonymous said... December 10, 2009 at 2:53 PM
I think the marketing term is "price anchoring." Here's a pretty good article exploring the concept:
http://www.washingtonpost.com/wp-dyn/content/article/2008/06/21/AR2008062100149.html
I'm a longtime reader, first time poster... but huge fan of your work. Thanks for all the time and effort you put into this.
lawlz said... December 10, 2009 at 3:28 PM
Markco you should make a PVP video with you vs Swifty the warrior ;)
Anonymous said... December 10, 2009 at 5:42 PM
Price ancoring is the kind term for it, the actual term in the trade commission is insider trading :) although in this case your both parties the idea is you have inside knowledge about the commodity and use it to unfairly profit from the knowledge. Still fun though in wow
Anonymous said... December 10, 2009 at 8:07 PM
"200% market value. Just a couple as you are not trying to sell these items. "
why would you be concerned if they sell you just made 200% profit any way... awesome!
Grump said... December 10, 2009 at 10:28 PM
You're obviously not concerned if they sell. However if they don't, you're eating deposits, so the less deposits you eat, the better.
If they're selling at what you consider to be your ceiling, you need to add a second story.
Whitewolf said... December 13, 2009 at 2:30 AM
Price anchoring is one name for it.
Another term for it would be "Manufacturer's Suggested Retail Price" or MSRP.
It's used to manipulate a consumer's impression of the value of a product. (Think DVDs.) Any store that sells to consumers can usually safely knock 40-50% and still not lose money.
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