Help with undercutting/controlling a market

[Squadz]

So, I have a predicament.

I tried to control Eternium Ore (I know, mistake #1) and set the price at 10g per unit, threw in a couple of stacks and some singles and let it be. People kept undercutting by MASSIVE margins (like 5g per unit, 4g per unit) so I bought them up and posted them at my price. Then people undercut by pennies, and more undercutting, and now it's back to 4g for the cheapest one.

Do I really need to be online all day to fix this? How do you handle this? I don't have enough cash flow to buy the undercutters ore each day and the ore's don't sell quick enough for me to live on it. I tried making Eternium Bars, which sold, I'm thinking of converting the rest for that purpose (there were no bars in the AH so I got to set the price for the market, which was nice).

Any ideas? I also have about 10 stacks of Adamantite that I need to know what to do with (those are at 1-2g per unit)

[Deleted]

Undercutting implies you being online all day to fix this.
Controlling implies having the cash to buyout everyone.

Why you would want to control such a low demand / low supply market is beyond me though. But considering it's low supply you could buyout everyone; shouldn't be more than a few thousand golds.

[Deleted]

Your problem is you're trying to controll the wrong market tbh. Also, no way are you gonna keep the prices that high, especially not with something botted so much.

[Squadz]

Sorry I should have said that I want out of this completely. I want to get rid of my supply without taking too much of a hit. This was my first time trying to actually do something with the AH and I realize what I've done wrong.

[mustacheride]

It's very hard to control a market that is easily flooded by bots.
My advice is to do the shuffle

might still be able to come out ahead

[Jeleh]

You made a beginners mistake trying to control something that is so easily obtained. When you want to control part of the market it's best to start small with something that is in high demand on your server with low/limited supply.

You should be able to prospect all the ore you have and sell/cut valuable gems for gear/craft jc items and then de them to minimize losses at least. Start small learn the market, learn your server, then move into new areas.

Typically spend at least 2-3 weeks of good daily play watching the ah, seeing what sells undercutting and getting a feel for the market, then go from there.

[Blackmist]

You can't control this. I've seen bots on my server pumping out 7k ore PER DAY onto the market. You're really going to buy all that to relist it?

If you need to shift it all do the ore shuffle. You're going to take a hit, because you've been a muppet.

[Squadz]

You made a beginners mistake trying to control something that is so easily obtained. When you want to control part of the market it's best to start small with something that is in high demand on your server with low/limited supply.

You should be able to prospect all the ore you have and sell/cut valuable gems for gear/craft jc items and then de them to minimize losses at least. Start small learn the market, learn your server, then move into new areas.

Typically spend at least 2-3 weeks of good daily play watching the ah, seeing what sells undercutting and getting a feel for the market, then go from there.

How can I figure out how profitable this will be? I'm interested in this approach.

You can't control this. I've seen bots on my server pumping out 7k ore PER DAY onto the market. You're really going to buy all that to relist it?

If you need to shift it all do the ore shuffle. You're going to take a hit, because you've been a muppet.

Sorry for the newbie question, but what is the ore shuffle?

[Deleted]

You need a jewelcrafter and an enchanter to do the shuffle. Prospect the ore-save the more valuable blue gems for cutting-- make rings and necklaces with the greens and disenchant those. Should be able to make some money back doing that.

[Squadz]

You need a jewelcrafter and an enchanter to do the shuffle. Prospect the ore-save the more valuable blue gems for cutting-- make rings and necklaces with the greens and disenchant those. Should be able to make some money back doing that.

Cant prospect Eternium ore, at least from what I've read. The only uses for it are Eternium Rod, Felsteel or random blue/epic quality armors, which disenchant for a lot less than I would get just selling the ore. I could try the Rod, they are going for 260 a piece for some reason.

[Vargur]

Eternium ore.. thought you're reffering to Elementium -.-

[Gurbz]

Since you said you already know where you went wrong, I won't bother going into that.

You are probably going to take a pretty good hit no matter what. Post a little bit at a time in the 4-6G per unit range and sell as much as you can in there. If it doesn't sell or you are still getting undercut, watch the prices for a few days and post in the range you see them going for.

[Viled]

you cannot control a free market. Try all you want it is near impossible

[netherflame]

Ore isn't something that is easily controlable for the reasons above, some suggestions that I have done in the past involve herbs particularly veil because people hate vashar, even bots.

[Squadz]

It just makes no sense to me why you would undercut a 10g item by 5g.

[brirrspliff]

It just makes no sense to me why you would undercut a 10g item by 5g.

to control the market!

[Callypso]

It just makes no sense to me why you would undercut a 10g item by 5g.

Psychology.


" Hey I want to sell this, but some other dude is selling it for 10g, so I need to put it up cheaper..... 9.99 is almost the same, so let's make it 9g! "
(Not the most logical reason, but no one said people are smart)

" Oh man, I really don't want to get this item back in my mail..... Let's put it up for 5g to make sure it sells! "
(Actually a valid reason, this person is willing to take a potential cut on his price to increase the probability of the item selling)

" What?!? no one is gonna pay X for this item.... That's a stupid price, let's put it up for Y "
(Sortof the same as above, not believing ppl are likely to pay a high amount)

" I think this is a fair price, I don't really care what all those goldleechers are thinking, I'll sell my stuff at a fair price! "
(I actually used to do this with glyphs, since i figured I was making plenty of profit @ 200g / glyph. I got bored of all the hatemail from the competitors tho)

There's some other reasons I could list as well, but I think those are the most common. Remember, not everyone is on the AH to make the most amount of gold they can make. Some are happy with just about any amount of gold they get. Some have no AH addons or any clue about what stuff is worth (I got my disgusting oozling for 500g....) and are still happy with the price they are getting

I know that in my 'noob' period, I would be extremely annoyed if I got as many as 10 items back unsold. Cus, you know, I had to relist them 1 by 1. I really didn't mind cutting the price in half if that meant they actually sold the first day.

Oh, I was so cute back then.

[Squadz]

to control the market!

Negative. Doesn't look like a familiar name. I'm looking at the prices right now (different people):

40 @ 22.50g per
20 @ 19.99g per
4 @ 9.99.99g per
4 @ 8g per
1 @ 7g per
3 @ 5g per
6 @ 4.98 per
1 @ 4.90g per
5 @ 4g per

Is it so hard to undercut by a copper? Why must it go by a full gold?

I'm just going to make bars and sell those. There's absolutely 0 on the AH right now.

---------- Post added 2011-10-31 at 03:59 PM ----------

One more thing. I remember reading a guide about someone who started a character without outside help and was able to turn basically a copper into 1000g (detailed posts etc.) Does anyone know where I can find it? I'm just curious as to what the person did etc. I can't find it online, but I don't really know what I'm searching for.

[Exodeus]

personally if i see that some one has undercut but coppers or even silvers i will buy the more expansive stacks

[mustacheride]

Negative. Doesn't look like a familiar name. I'm looking at the prices right now (different people):

40 @ 22.50g per
20 @ 19.99g per
4 @ 9.99.99g per
4 @ 8g per
1 @ 7g per
3 @ 5g per
6 @ 4.98 per
1 @ 4.90g per
5 @ 4g per

Is it so hard to undercut by a copper? Why must it go by a full gold?

I'm just going to make bars and sell those. There's absolutely 0 on the AH right now.

---------- Post added 2011-10-31 at 03:59 PM ----------

One more thing. I remember reading a guide about someone who started a character without outside help and was able to turn basically a copper into 1000g (detailed posts etc.) Does anyone know where I can find it? I'm just curious as to what the person did etc. I can't find it online, but I don't really know what I'm searching for.

There was a lengthy discussion on this topic back in July.
(search for thread and read all 20+ pages)