Price resets

Wednesday, December 29, 2010

It's time for a well known trick used by auctioneers to increase their profits. Resetting the price of an item to be able to sell your own supply for a larger profit margin. I've been sitting on a decent amount of Greater Celestial Essence from disenchanting Carnelian Spikes. Which I'm still expecting to be fixed soon btw, an Item Level 317 weapon which disenchants reliably in 2-3 Greater Celestials doesn't seem to be right.

The supply I had however had been created during the weekend when Obsidium Ore was quite cheap. Unfortunately during the weekend the Greater Celestials were also at about 60% of normal market value with loads of them posted. I figured I just had to wait untill Monday or Tuesday for them to rise to their normal price again. On Monday the lowest buyout was 60g and Tuesday prices had risen to 68g. This morning there were still a couple of them listed for 70g buyouts, but only about 15 of them.
Since there was a large gap between the 70g ones and the rest, which were a little above market price, I decided to buy out all 70g buyouts and re-list those and my own for 85g.

If all of them sell, which they will over the coming days, I didn't make 225g (15 x 15g) from relisting the 70g buyouts but 1.125g from relisting them and increasing the price of the 60 I had in my bank.

This applies to every item for which the price fluctuates during the week. If you want to sell them for the normal marketprice you can choose to not wait for the cheaper ones to automatically drop off the Auction House. Buy them out and reset the price to increase profits.

Disclaimer: I could have bought out as many Greater Celestials as possible during the weekend and re-sell them once the price had risen again. Once the market has settled a bit after Cataclysm I will do that but right now I'm being very careful with buying to re-list. Prices are all over the place, it only takes one or two other Jewelcrafter / Enchanters to start doing what I'm doing and prices will drop significantly. I'm not going to risk having a stack of Greater Celestials which I'm going to have to sell for a loss.


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