Hello Again! I'm back with an update on Rifampin's progress. Afterwards, I'll explain why stack size is important like I promised in my previous post. For reference, I am up to 6g 65s in my bags, and 435g worth of items on the AH.
So after having made a decent wage from the items I bought earlier, I decided to invest MORE (tough choice, huh?)
Here are some of the items I bought:
As you can see, most of my investments are commodities, such as cloth and ore. They tend to sell well and sell OFTEN. Prices fluctuate, so you can grab cheap items and then relist them immediately, or one or two days later when prices rise (depends on your server's economy.) Be careful with these investments, though. You NEED to scope out the market fluctuations first so that you know when to buy, and when to sell.
An excellent AddOn for this specific purpose is Market Watcher. It'll allow you to scan and save data for items that you specify, and then view the market prices in a convenient graph form. Obviously you need to have scanned for at least a week or two (more would be ideal) before you begin to trust its data, so go pick it up now! I will let you in on other AddOns I use as time goes by.
Anyway, after those investments, I threw my remaining stock and the new items all on the AH for a marked up price:
I believe I also had some ore up on the AH that is not pictured. You should be posting a few, small stacks (generally) of each particular item up when there are fewer of that particular item on the AH. You should also make sure not to post when prices are low for that particular day. The less auctions up at the time the better. If there are none up at the time, and the item is in high demand, you can really gouge prices, so keep that in mind.
Here is my progress as far as sales go (the daggers sold!):
What this image doesn't show is what hasn't been selling for me. I had to relist the two daggers, leather, and enchanting mats several times before they sold. This is okay! As long as you have money in your mailbox, you're doing it right!
You are almost definitely not going to sell everything, and you will probably end up relisting most items at least once before they sell. This is why I suggest that you set your default auction time in Auctioneer to 24 hrs. I prefer this setting because I can manage my auctions at the same time everyday, and I'll be able to match prices more consistently than if I were putting them up for 48 hrs.
Now I'd like to explain why stack size is important. For items like ore and herbs, selling in stacks of five is ideal because this is the stack size required to prospect or mill these items. Think of it as the lowest common denominator; if someone wants to purchase 40 of a particular item, they will still buy your stacks of five. However, if someone only needs to prospect or mill for one more gem or pigment, they will not want to purchase an entire stack!
For other items, like bars, spider's silk, or crafting parts, people almost invariably need less than a full stack to craft or use for their purpose. They do not want to sell the excess, and so they would rather pay a bit more per item for their stack, at a lower total cost to them. You can use this perception for your own gain, and not simply when setting prices. If you need a particular item, you can always buy a full stack and gouge prices for the excess to make some of your money back!
The reason I do not sell cloth in small stacks is because most items that require cloth are either crafted in bulk, or require an entire stack per item. It's much better to simply sell stack by stack than to try and fiddle with a lower number, especially considering how common cloth is.
If you have a differing opinion, extra advice, or any comments, please feel free to express them!
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