Jul 13th 2008 7:54AM Ok, i've made quite a lot of gold off the AH so let's see if i can summerise some ideal ways to make gold.
1. You need to know the market for each individual server, as everyone says... it does just come down to supply and demand, if you want to make gold you need to find popular items that FLUCTUATE OFTEN.
i.e. Primals for instance, i know for a FACT on my server that primal fire will stabilise to ATLEAST 30g at some point so i have no problem buying for 28g and under. (Auctioneer helps know all this also)
On certain items you may need to hold onto the goods for weeks till the market comes back to the normal price for whatever reason so generally if you want to make gold you need to be willing to stock quite a bit according to how much you want to make.
Many times i've had 8k gold worth of items and i have been near broke but i made a lot more back when i finally sold the items.
2. You need to learn to diversify, my main is a jewelcrafter and if the gem prices take a dive you won't hear me crying, i will just be buying and selling something else, you don't need a profession to make gold but it can help if you have the right professions.
I'm also a miner and if i have a lot of adamantite ore and gems are down or are just flooded i will rather make bars or hardened adamantite instead of prospecting and being prospecting overstocked with gems because im not willing to sell for so low.
3. As someone mentioned, if someone is undercutting you badly, awesome! Buy them all and resell them even on the same day, people like this make your life easy if you know the true value of an item.
4. If you have a large stock of certain items you can do research and find out what you can use them into to make extra gold, like many times i've had 50 - 100 primal mana so I ended up finding crafters to make spellthread and put that up on the AH instead of selling the primals.
5. If you are on multiple servers and you see a trend on a more progressive server like when the sunwell was released, you can be pretty sure the same thing will happen on other servers in a similar fashion, like when Large Prismatic Shards dropped from 25g to 18g- 20g on my server 2 months later it happened on the other server and similar trends also followed on that server matching my main server.
6. Don't be fooled into thinking that making money off the AH is quick and easy, when i started playing the AH more often i spent 1 - 2 hours daily buying, selling, having things crafted and checking mail, my bank alt made about 10K - 14k a month just buying and selling but it still took constant effort.
7. When buying and selling on the AH you need to factor in the 5% fees, i rarely bought anything that wasnt under 75% off the usual price, as items go higher i was ok with a smaller percentage profit, but basically if i wasnt making 4g or more i wouldn't bother.
8. If you want to undercut someone, you only need to undercut them buy a few cents, why crash a whole market by putting up items 30% lower than anyone else and then having other people undercutting on that amount, its not smart for anyone especially yourself.
The standard Auctioneer amount is 5% but if everyone is undercutting by 5% a market can go down very quickly. Fine by me, i will just buy it all, your loss.
Hope this helps.