Tuesday, October 8, 2013

Auction House Report - Tuesday, October 8, 2013

Happy maintenance day! Since Tuesdays are typically slower days in terms of gaming for me, I figured it would be a good day to roll out my auction house report. Now this past week was a rough week for me personally in terms of just having a lot of real world stuff to do. In addition to just being busy, I also lost my internet connection for a little over 24 hours. Naturally that hit on my day that I typically spend posting auctions. Well, even with all of that stuff, I still managed to post some auctions up.

Typically I just bid on low priced items and whatever I win (that I do not need personally), I then turn around and relist the item at the price I feel it warrants. We tend to refer to this as "flipping" the item. (I tossed the term in there for those of you out there who may not care about the auction house or how people work it.) This is my bread and butter business! A lot of flippers though like to turn around and take a quick profit. So they create lists with a price range, usually with the assistance of an add-on, and then go about buying low and then pricing to under-cut their competitors around 3-5%. This is a great strategy for turning a quick profit. The downside to this though is that you end up getting into the realm of having to list an item, watch the competitors, cancel an auction when they under-cut you, and then relist the item once more undercutting them. On a highly competitive server, this can take up a lot of time. I would recommend that if you pursue this method of working the auction house, then you will most definitely want to pick up the mobile app that allows you to handle your auctions while away from your computer. It is almost a necessity if you plan on actually competing for the market share.

A long, long, long time ago, I use to actively list the way I just described. The only problem with it is that the more items you are listing, the less time you actually get to play in game and that kind of sucks. That is why I prefer using a fixed price method. I believe I referenced it last week, but did not really go into a lot of details about it. What I basically do is look to buy items at extremely low prices and then set them at a price which I consider to be fair based upon the rarity of the item and how long I will I have to hold onto the item. In the real world, we refer to this as an intrinsic value. The downside to this method though is that you do not typically get a quick turn around on your investment. So in my case, I am currently running around 3,000 to 6,000 items on a daily basis between all of my characters. Over the course of a week, I may only sell around 100 items. Due to this low turn around, I have to consider the expense of listing multiple times over a long period and then add that cost into the price of the item that I am selling.

So you are probably wondering why I just gave a low level economics lesson right? Well, I want you to understand the thought process behind how I choose to list. It is surprising to me how many times I receive in game mail and messages where people are rather quite rude regarding my pricing. The in game mail and messages do not really bother me, but I simply do not have the time (nor space for in-game mail) to respond to each individual and explain the process behind the listing; however, I do have the time and the space to do so here. Well, with that said, let's take a look at what sold over the course of this last week!

Arcane Dust
Buyer(s): Pjbutter, & Zzimmer
Listed Price (per item): 30G/0S/0C
Deposit Price (per item): 0G/1S/0C
Auction House Cut (per item): 1G/50S/0C
Net Profit (per item): 28G/51S/0C
Total Number Sold: 17

Blue Sapphire
Buyer(s): Roxsanna
Listed Price (per item): 55G/0S/0C
Deposit Price (per item): 0G/42S/0C
Auction House Cut (per item): 2G/75S/0C
Net Profit (per item): 52G/67S/0C
Total Number Sold: 1

Citrine
Buyer(s): Dedaelus
Listed Price (per item): 40G/0S/0C
Deposit Price (per item): 0G/4S/80C
Auction House Cut (per item): 2G/0S/0C
Total Profit (per item): 38G/4S/80C
Total Number Sold: 2

Copper Ore
Buyer(s): Brocsmash & Brysco
Listed Price (per item): 5G/0S/0C
Deposit Price (per item): 0G/1S/0C
Auction House Cut (per item): 0G/25S/0C
Net Profit (per item): 4G/76S/0C
Total Number Sold: 3

Elementium Ore
Buyer(s): Klaymore & Moonbearcat
Listed Price (per item): 41G/50S/0C
Deposit Price (per item): 0G/13S/44C
Auction House Cut (per item): 2G/7S/50C
Net Profit (per item): 39G/55S/94C
Total Number Sold: 2

Handstitched Leather Boots
Buyer(s): Electricp
Listed Price (per item): 4G/0S/0C
Deposit Price (per item): 0G/1S/0C
Auction House Cut (per item): N/A*
Net Profit (per item): 3G/81S/0C
Total Number Sold: 1

Handstitched Leather Pants
Buyer(s): Othor, Xrazzi, & Zulamba
Listed Price (per item): 5G/0S/0C
Deposit Price (per item): 0G/1S/0C
Auction House Cut (per item): 0G/25S/0C
Net Profit (per item): 4G/76S/0C
Total Number Sold: 3

Heavy Brown Bag
Buyer(s): Holykatt
Listed Price (per item): 12G/50S/0C
Deposit Price (per item): 0G/30S/0C
Auction House Cut (per item): 0G/62S/50C
Net Profit (per item): 12G/17S/50C
Total Number Sold: 3

Hessonite
Buyer(s): Scorpiosyce
Listed Price (per item): 81G/0S/0C
Deposit Price (per item): 0G/30S/0C
Auction House Cut (per item): 4G/5S/0C
Net Profit (per item): 77G/25S/0C
Total Number Sold: 1

Huge Emerald
Buyer(s): Opoop
Listed Price (per item): 60G/0S/0C
Deposit Price (per item): N/A*
Auction House Cut (per item): N/A*
Net Profit (per item): 57G/60S/0C
Total Number Sold: 3

Imbued Netherweave Bag
Buyer(s): Allmighty, Dawong,  Jezus, Meylin, & Onigiri
Listed Price (per item): 250G/0S/0C
Deposit Price (per item): 0G/60S/0C
Auction House Cut (per item): 12G/50S/0C
Net Profit (per item): 238G/10S/0C
Total Number Sold: 7

Infinite Dust
Buyer(s): Dallegribble
Listed Price (per item): 35G/0S/0C
Deposit Price (per item): 0G/1S/0C
Auction House Cut (per item): 1G/75S/0C
Net Profit (per item): 33G/26S/0C
Total Number Sold: 1

Large Opal
Buyer(s): Iseestarzsx, & Rhogral
Listed Price (per item): 55G/0S/0C
Deposit Price (per item): 0G/42S/0C
Auction House Cut (per item): 2G/75S/0C
Net Profit (per item): 52G/67S/0C
Total Number Sold: 2

Mageweave Bag
Buyer(s): Holykatt
Listed Price (per item): 17G/50S/0C
Deposit Price (per item): 0G/15S/0C
Auction House Cut (per item): 0G/87S/50C
Net Profit (per item): 16G/77S/50C
Total Number Sold: 2

Malachite
Buyer(s): Rikorn & Wahshiyya
Listed Price (per item): 7G/0S/0C
Deposit Price (per item): 0G/1S/0C
Auction House Cut (per item): 0G/35S/0C
Total profit (per item): 6G/66S/0C
Total Number Sold: 3

Netherweave Bag
Buyer(s): Acutulus, Aylisuuon, Cellal, Daalabank, Doppers, Franangr, Kinkersqt, Megatronic, & Pandemmic
Listed Price (per item): 50G/0S/0C
Deposit Price (per item): 0G/60S/0C
Auction House Cut (per item): 2G/50S/0C
Net Profit (per item): 48G/10S/0C
Total Number Sold: 26

Nightstone
Buyer(s): Voodot
Listed Price (per item): 81G/0S/0C
Deposit Price (per item): 0G/30S/0C
Auction House Cut (per item): 4G/5S/0C
Net Profit (per item): 77G/25S/0C
Total Number Sold: 1

Red Leather Bag
Buyer(s): Engoron
Listed Price (per item): 7G/50S/0C
Deposit Price (per item): 0G/5S/16C
Auction House Cut (per item): 0G/37S/50C
Net Profit (per item): 7G/17S/66C
Total Number Sold: 1

Silver Ore
Buyer(s): Daae
Listed Price (per item): 10G/0S/0C
Deposit Price (per item): 0G/1S/0C
Auction House Cut (per item): 0G/50S/0C
Net Profit (per item): 9G/51S/0C
Total Number Sold: 7

Star Ruby
Buyer(s): Miltholm
Listed Price (per item): 50G/0S/0C
Deposit Price (per item): 0G/30S/0C
Auction House Cut (per item): 2G/50S/0C
Net Profit (per item): 47G/80S/0C
Total Number Sold: 3

Strange Dust
Buyer(s): Haaze, Iggnite, & Kartin
Listed Price (per item): 5G/0S/0C
Deposit Price (per item): 0G/1S/0C
Auction House Cut (per item): 0G/25S/0C
Net Profit (per item): 4G/76S/0C
Total Number Sold: 6

Strange Dust (x5)
Buyer(s): Iggnite
Listed Price (per item): 25G/0S/0C
Deposit Price (per item): 0G/1S/0C
Auction House Cut (per item): 1G/25S/0C
Net Profit (per item): 23G/76S/0C
Total Number Sold: 2

Tigerseye
Buyer(s): Cherimoya
Listed Price (per item): 15G/0S/0C
Deposit Price (per item): 0G/1S/0C
Auction House Cut (per item): 0G/75S/0C
Net Profit (per item): 14G/26S/0C
Total Number Sold: 1

Traveler's Backpack
Buyer(s): Furi
Listed Price (per item): 100G/0S/0C
Deposit Price (per item): 0G/52S/44C
Auction House Cut (per item): 5G/0S/0C
Net Profit (per item): 95G/52S/44C
Total Number Sold: 1

* Indicated that these figures were either blatantly wrong or simply not taken down properly. Sorry for any inconvenience this may cause to you.

Last week I mentioned that I would try to provide some pictures/screenshots to show that I am not making this stuff up (because Light knows I cannot believe what people pay for some of this stuff!), so please enjoy the insane amount of images below!
















































































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