Money Making - Using The Auction House To Your Advantage

First of all; DOWNLOAD AND INSTALL AUCTIONEER ADDON AND LEARN HOW TO USE IT

You can get it here

Note; to make it all easier, make a alt and take it to the AH, mail it some gold, and use it to make all the monay ^^

Now, let´s take a look on what auctioneer really does.

With it, you can scan the item imformatin thingy at your local AH and use it to see; How many time the item has been on the AH, it´s common sell prices, recommended price of it.

By compiling lots of information thingys, you can seel when items on the AH is sold for to little, or to much and that kinda stuffs. When you see a item that is listed to low, buy it, and relist it higher.

Important! Scan often, auctioneer is only as good as you make it!

Look at the picture. When you open the auction house, you will notice some extra tabs, as well as the scan bottom on the first page. To start off, click it, and go do something for like 10minutes, then return and, well, log out and play on some other character, or just simply go to bed or something

Try to scan as often as possible! Once a day if possible!

Look at the image below. When you have some information thingys, you will get a extra box with information and stuffs about the item, kinda handy, huh?

When you have compleeted some scan, and have pretty much information thingys, then you can start making the money. To start off, you want to go to the "Search Auction" tab and look at the results

Take alook on this image, there you see the options for this window.

On the left side you can see pretty many options, including profit margin and item quality.

Keep in mind that this is only the result of waht you have scanned! Don´t buy ANYTHING until you have atleast scanned for a week! And, don´t buy anything unless you have seen them on the auction house a acceptable number of times!

Let´s do a basic search.

Set the top option to "buyout" and leave everything else. Now you should get a pretty big list of profitable items. Now, click "profit" so you see the most profitable in the top.

Reagents and trade supplies are the best, as people need them every day! If you buy a sword that would amke you 10gold, but you end up listing it 8times before it sells, it ends up costing you money. Don´t buy the most expensive things unless it´s a insane profit and you have seen it on AH many times!

When you think you got a good item to buy, you want to check one thing.

How many times has this item been up on the AH before?

Only a few times? Careful, as it may have been overprced before!

Now, look at this picture.

Auctioneer has scanned this [] x many times, then I know this price should be accurate.

Now, look at this.

Auctioneer has only scanned it s few time before, so be careful with items like this.

Now, auctioneer don´t only help you find good deals, it also helps you decide what you sell your item for.

Example, have a stack of ore? Auctioneer will list them for a fair market price depending on what information you have gathered.

Even better, you can tell auctioneer waht you want to list items for.

A few examples and my li'l opinion on them.

Mark up vendor by 300%
For items yet to be seen on a auction. What it does. It looks up vendor price and amrk up that price by 300%.I leave this alnose, as it works great for most items. Unless it is some rarely seen or seems more valuable. Then try visit allakhazam and chesck their median price for the item.

Undercutting by a percentage
This is for when other items same as yours are already listed on the AH.You want to undercut them but not hurt the market or lsoe much gold. Default this is 5%. In my opinion this is to much. People will buy even if it is 1 silver less, as long it is the cheapest. I recommend to lower this to 2%.

No competition
If your item is the only one of it´s kind at that time, this will let you know. If that´s the case, mark up the market price by 5%, you control the market, why not?

Cannot match lowest price
You don´t want to see this. it means some guys are undercutting the market. Don´t list the item now, unless you like losing gold. Or you can always buy thiers and relist it ^^

Competition is above market
This means everyone else has overpriced. List your item at the curreny market price and you will sell first, and make nice money

Using current price
If you have listed an item before, and this price still the best at the time, this will let you know.

Great, now you knwo how auctioneer works, and have set up the option to what you want, then it´s time to start.

What I recommend buying and selling;

1. Herbs.
2. Mana and healing potions, the bigger the better. Always needed.
3. Enchanting supplies. Huge demand.
4. Cloths cloths and cloths. Buy the stack, stay away from bolts.
5. Reagents. Like fish oil and light feathers. Daily needed items.
6. Low level greens. Cheap to buy and people buy them often.
7. Quest items.
8. Recipes. Especially tailoring and alchemy. Buy vendor recipes and relist them. You can make lots of money on this.
9. Low level ore. Iron, copper and tin.

This would be a good start. Later on you will learn what is good for your server and that thingys. Good luck making your money!

Tip. Specialize in one area!