I posted a thread on the Unstability of the market, and I must say that I was not aware of how unstable it truly was. We need to break down the rule of thumb here for a stable market, and discuss what makes a market...
Supply and Demand is the first thought that comes to my mind. Items that are rare, or items that are needed are pretty much the ones that will sell the highest. Lord of the Rings has a specific color code to help us understand what may be a little rarer than the next...
Here is the color code as far as I can tell for items, ranging from least to rarest:
If there are more, then I have not encountered them yet, and thus, am not aware of them. Now for a quick synopsis on how you can make some dough on the items.
White Items: These items are pretty much trash items. There are the few exceptions, such as the items that are "farmable." Some examples of this are Cabbage, Blueberries, Strawberries, Green Onions, Rhubarb, and Yarrow Root.
Any time that I happen to see Yarrow Root, I pick it. Why? Because in my particular server, yarrow root sells for around 50 silver each. I had three in my bag and put them up for Auction for over 100 silver. To gain this item took no more than seeing it, and spending around 3 seconds to gather it.
The Yarrow Root is a white item, which means that it is pretty much a trash item, however, it is a needed item for people. I am not sure at this time what craft needs it, but I see people on the trade channel looking for it all the time. A perfect example of Supply and Demand. The item is demanded, and not too many people have it, thus, a nice profit can be made from it.
The trick is to learn what is demanded, then you, become the supplier.
Now, for the main purpose of the post. I believe that you can make a killing off of the Auction House. In other words, I believe that it is possible to simply sit at the Auction House, find items for cheap, and sell them for high.
The other day, I died roughly 10X. I spend a ton in repair bills. However, by the end of the day, I had around 600 silver, and by the next morning, after selling, I had over 800 silver. I had NO idea how this happened, but then it hit me. The Auction House! I AH'd alot of my goodies that I had been keeping in my bag. Anything that wasn't a trash item, I vendored it, and I made a ton.
This morning, I found some "power" potions, a stack of 20 to be exact, for only 10 silver. Every other auction had the stack for over 200 silver. So, I bought it out, and resold it for that much. We will see what happens.
Basically, because of the unstability of the market, if you want to bank on silver, find out what is needed. Search for it in the Auction House, and buy it out if you think it is a good deal. Because the game is new, it is very easy to find new players auctioning stacks for close to nothing. I almost have my first 1g already, simply by doing this as well as some other things.
Here are a few other tips:
1. Keep your bags as empty as possible before going out.
2. Use your vault.
3. Supply/Demand the Auction House.
I believe that with these three tips, you can have a nice steady flow of income. You only have so much space in your bags, and if you are like me, then it fills up quick with craft supplies and such. Use a mule if you would like, but be smart in how you use your time.
Supply and Demand is the first thought that comes to my mind. Items that are rare, or items that are needed are pretty much the ones that will sell the highest. Lord of the Rings has a specific color code to help us understand what may be a little rarer than the next...
Here is the color code as far as I can tell for items, ranging from least to rarest:
- White
- Yellow
- Purple
- Blue
If there are more, then I have not encountered them yet, and thus, am not aware of them. Now for a quick synopsis on how you can make some dough on the items.
White Items: These items are pretty much trash items. There are the few exceptions, such as the items that are "farmable." Some examples of this are Cabbage, Blueberries, Strawberries, Green Onions, Rhubarb, and Yarrow Root.
Any time that I happen to see Yarrow Root, I pick it. Why? Because in my particular server, yarrow root sells for around 50 silver each. I had three in my bag and put them up for Auction for over 100 silver. To gain this item took no more than seeing it, and spending around 3 seconds to gather it.
The Yarrow Root is a white item, which means that it is pretty much a trash item, however, it is a needed item for people. I am not sure at this time what craft needs it, but I see people on the trade channel looking for it all the time. A perfect example of Supply and Demand. The item is demanded, and not too many people have it, thus, a nice profit can be made from it.
The trick is to learn what is demanded, then you, become the supplier.
Now, for the main purpose of the post. I believe that you can make a killing off of the Auction House. In other words, I believe that it is possible to simply sit at the Auction House, find items for cheap, and sell them for high.
The other day, I died roughly 10X. I spend a ton in repair bills. However, by the end of the day, I had around 600 silver, and by the next morning, after selling, I had over 800 silver. I had NO idea how this happened, but then it hit me. The Auction House! I AH'd alot of my goodies that I had been keeping in my bag. Anything that wasn't a trash item, I vendored it, and I made a ton.
This morning, I found some "power" potions, a stack of 20 to be exact, for only 10 silver. Every other auction had the stack for over 200 silver. So, I bought it out, and resold it for that much. We will see what happens.
Basically, because of the unstability of the market, if you want to bank on silver, find out what is needed. Search for it in the Auction House, and buy it out if you think it is a good deal. Because the game is new, it is very easy to find new players auctioning stacks for close to nothing. I almost have my first 1g already, simply by doing this as well as some other things.
Here are a few other tips:
1. Keep your bags as empty as possible before going out.
2. Use your vault.
3. Supply/Demand the Auction House.
I believe that with these three tips, you can have a nice steady flow of income. You only have so much space in your bags, and if you are like me, then it fills up quick with craft supplies and such. Use a mule if you would like, but be smart in how you use your time.