It's been a while since I gave an update on my primary and most reliable source of income: the auction house. For a few weeks there, Traveler's Backpacks were a steady source of income. At most there were only 3-5 packs up for sale at a time with most people putting them up for 22-25g each. It was a simple matter to buy out the lowball packs and resell between 28-30g. I consider myself a Traveler's Backpack specialist at this point and I'm able to identify the highs and lows of the market as well as quickly spot good deals for people selling over the trade channel. Over the past few days, the supply of the backpacks on my server has far outstripped the demand and prices have plummeted to 19g. I've decided to hold on to my inventory of 4 packs until conditions improve.
The point of all this is to become a specialist in a few items to become intimately familiar with the ebbs and flows of the market. Auctioneer is a great tool to start building some familiarity with price points of items on your server, but does not replace the human touch gained by specializing in a particular item. I've also specialized in Deviate Fish and Stonescale Eels as I've become a proficient fisherman and sell these items often. The Deviates run from 50s-75s each and the Stonescales are usually 1g each on my server.
A new way I've found to try and get my feet wet with a new item to specialize in is using the broker feature in Auctioneer. By typing '/auctioneer broker X' in the chat window (make sure auctioneer is loaded), where X is the amount of potential profit in silver, I can try to break into a new item market at an attractive price point. Essentially the tool looks at the current auctions and compares the buyout prices to historical buyout prices. If it spots a difference between a current and previous buyout price greater than the amount of silver you specified it will list the item out. I usually go with 1000 as my minimum which would be a potential profit of 10g. Again, this is a powerful tool to spot deals on items you may not be familiar with but beware - previous items recorded by Auctioneer may not have actually sold, or the market demand for a particular item may have dropped since then. The key here is to scan often, and take a risk on new items flagged by the broker feature that you are willing to potentially have to sell later at a loss. Like anything, be smart with your risks and don't invest all of your money on one long shot.
Using the techniques I've outlined in this post and throughout the blog I'm up to roughly 400g with my level 39 hunter and an alternate auction character
on a total of about 8 days of gameplay. At IGE prices 400g would sell for about $35 and with 8 days of gameplay that's $0.18/hour. Looks like I won't be quitting my day job anytime soon. As usual I'm always looking for great new ideas on making money, so post comments if you have any. I'm still hopeful that I can push up the $0.18/hour as a lot of my time up until now was spent leveling my hunter and learning parts of the game. In fact I'll be in that mode for a while until I hit level 60. Only 21 more levels to go!
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If you have a little time to waist wait for Little Timmy to spawn (North of the canal at SW harbor). He spawns about once every 1 and 1/2 hours. Buy the kitten off of him and sell it on the AH buyout should be 400G costs 45silver. On a good day I'm making about 1200G. I wish I'd known this before I bought my epic mount :(
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