I got our first blue (rare) item today and it was quite exhilarating. I was in Thousand Needles taking down some water elementals and much to my surprise one dropped a mace called the Looming Gavel. I hurriedly mailed it to our auctioneer character in Orgrimmar. After a few hours I logged into the auction account and received the item. In my excitement I began hawking it on the trade channel (shift-left click the item when typing a message in the trade channel). I started asking for 7g, but no one was biting. I quickly modified my call to "[Looming Gavel] 7g or best offer". I got a couple of bites at 5g, and I negotiated up to 6g. Not bad I thought. As an afterthought, I logged into wow.allakhazam.com to check on the latest auctioning process for the Looming Gavel. Oops. Looks like in my excitement I had sold it way low. Average price was 15g at the auction house! I felt like a total newbie, and I actually went against some key lessons we had already learned, but clearly not well enough. Here's the summary:
- If you don't know the price on an item, look it up at wow.allakhazam.com. Average, median, high, and low prices over a couple weeks are listed. No need to ever sell yourself short - especially on rare or better items.
- Patience. If your item doesn't sell right away for the top price, wait it out. Re-list if you have to, it will be worth it. Also remember to list at peak weekend times.
Update: Got some good advice from one of our readers, check the comments. Looks like we have more to learn. We'll post a follow up after we try out the Auctioneer add-on as suggested.
3 comments:
Prices vary by server. New servers will have lower prices than old servers. Allakhazam could therefore be wildly off.
Download the Auctioneer add-on and scan the auction house regularly to build up a price database for your server.
Awesome advice, we'll definately try it and post our results. Do you know how to identify the age of a server - other than looking up the ones that are no longer accepting characters?
Sure - ask.
Note that the money supply on a server increases with age - more players have more time to kill monsters and accumulate gold. More money supply means price inflation which means gold is easier to come by - which means farmers, who compete with each other, have to charge less. So you can auction items for more on older servers, but should you try to sell the gold for actual money you'll get less.
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