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Best Price to auction your stuff?
vee7272
Member, Neverwinter Beta Users Posts: 28 Arc User
Hey guys, I was wondering what would be the best price of an item if you want to auction it in game?
How would you decide, What should be the price of a particular item?
Are the Starting bid and Buyout price suggested by auction house appropriate or can you get more than that?
I know its very subjective but, I don't wanna give my stuff away for dirt prices and I don't wanna overprice it either.
How would you decide, What should be the price of a particular item?
Are the Starting bid and Buyout price suggested by auction house appropriate or can you get more than that?
I know its very subjective but, I don't wanna give my stuff away for dirt prices and I don't wanna overprice it either.
Gregg Silverkin, TR on Mindflayer
Guild: Rising Star
Guild: Rising Star
Post edited by vee7272 on
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I havent messed with the ah much cuz my gsme crashes every few mins in PE, but im told the recomended prices srent always accurate. Your best bet is to just search whatever youre selling and undercut the lowest price by a little bit. If you really want to make the most though, youll want to scan the ah often and see what times/days things go for the most. UssuLly on like a weekend theres more ppl playing, so items will sell quickly but also for less because of the huge influx of players posting items.
If you wanna keep it simple just search items your selling and base your price on current auctions, and wait to sell your expensive stuff till weekdays when there arent as many ppl constantly posting and undercutting the items.
Jf youre interested in playing the ah to make a lot of money there are a lot of great WoW sources out there that should convert similarly to this game.
Rising Star, fun friendly, community focused guild on mindflayer. We strive to help each other and enjoy the game together. Talk to me for info, or feel free to check and join our community at risingstarneverwinter.enjin.com
I always search in the Auction House to check what other players are selling items for and then, me being a less than greedy person who would rather sell something than not sell something, I tend to under-cut the competition....a lot.
I don't like people like you.
Coming back to a post I made, only to find someone has undercut me by 50k and someone else has undercut them by 90k is annoying enough. Losing my posting fee because of people like you dropping the price is the icing on the HAMSTER cake.
Maybe you shouldn't have priced your item so high to begin with! You can hate people like me all you want that's fine I just want to unload my stuff and move on not work the AH. If someone is undercutting by a crazy amount you could buy their item and try selling it at a markup.
If an item is priced high, that means there is a high demand, a low supply, difficult supply(harder to obtain), luck supply(lower chances of it dropping), or a combination of the four. The fact that the price is around there means that there is enough people that want to buy the item that they'd spend their hard earned AD to get it.
What you described is just considered being lazy and devaluing items for the sake of your laziness. You don't have to "work the AH" to keep the item in that price range and in turn make a decent amount of currency from it. Also, buying and reselling items is a huge gamble with both the posting fees and the 10% taxes. It's very rarely a smart choice to make.
@ Topic: Spend about 30 seconds of research into the items you're selling. Undercutting by a lot means you're basically paying to be lazy.
Ex: If the lowest price on an item is worth 300k AD and you put it up for 240k, then you've effectively payed around 55k to be lazy. It doesn't exist in actual currency, but it exists in potential currency.
It's best to undercut depending on how much the lowest price is:
-An item worth 1k AD should be put up for 900-990 AD
-An item worth 10k AD should be put up for around 9.4k-9.9k AD
-An item worth 100k AD should be put up for around 95k-99k AD
-An item worth 1mil AD should be put up for around 960-990k AD
Or maybe the people putting it up there originally just pulled a price out of their ***. Call it lazy if you want I'm fine with that. Especially if I price my item around everyone else someone will just undercut me. I'm just there to get HAMSTER out of my inventory. If that causes consternation amongst the AH elite so be it.
The guy has a point, though. There's no logical reason to undercut by ridiculous amounts. You're making less money than you could have made by undercutting reasonably, and you're HAMSTER over everyone else not trying to lose money by artificially driving the cost down.
There's no "working the AH" involved, at all. It's just called using common sense.
Hence the reason a Bag of Holes sells for anywhere from 5k to 100k. Prices are pulled out of thin air based on what the seller thinks its worth. I am another one of those that will do an AH search for the item and undercut the lowest price by 15-20% just to move the item. Its all about Supply and Demand. I don't Demand it so I Supply it at a price to move it as quick as possible. Supply & Demand works both ways you know.
I put something on the AH to sell not to sit around for 5 days. Guess that is way nearly all of my auctions are sold/buyout within the first day.
I sell my items for 1AD below lowest listed buyout, and I've never had an item hang around in there for longer than half an hour. So I must respectfully insist that prices aren't the only thing being pulled out of thin air around here.
People are going to buy whatever is cheapest. They don't care if it's 1AD cheaper or 20%. The notion that massively undercutting the other guy is going to make yours sell that much faster is a false one that isn't grounded anywhere at all in reality or logic.
As for the bid price, that should be the minimum amount of AD you would be okay getting for the item. In some cases it may be just one AD less than the buyout. In some cases it will be way less than the buyout. It all depends on what you are okay getting for the item.
Guild: Rising Star
1. Sell my stuff
2. Force the guy with the higher price buy my stuff
That's just a quick way to lose money.
Yesterday I was selling a pair of boots, everyone was clumped around the low to mid 300s. I put mine in for 325k, right under a nice string of guys selling for 330. A bit of an under-cut, but nothing drastic. When I came back to post up new items from the DD, I noticed someone had thrown in a pair of the same boots for 240k, a massive under-cut. I just shrugged, posted my stuff up, and logged for the night. In the morning, my boots had sold (and his too I'd wager), but I made about 27% more profit for the very same item. This happens a lot.
The problem hits when one idiot decides to massively undercut, and people throw away the idea of value for instant gratification and create a temporary bottom-out of the pricing. When that happens it's usually best to just withdraw the item and wait for it to clean out, then post the item up and make your normal profit. I had that happen last week with a Rogue dagger (we greed on AH items, need on equip) and held onto it for a few days because people were trying to sell it for around half of it's value just to get it sold. Sure I didn't have the money right then, but I did sell it a couple of days later, and I made more than double what they got for the same item.
It's less greed and more just being smart about value.
Edit: Although knowing what a reasonable price is for an item helps as well. I can and will put something in for a large chunk lower if the current gear on the AH is priced in a way it will practically never sell. You see it all the time, someone putting an item up for 50% (or more) than what it's worth, or people attempting to trade an item or two worth a third of the item they want.
One person could put an item up for 300k and someone else put something up for 150k. It's not right to say automatically that the person undercutting is being lazy, as his item might sell but the original item was just over priced and totally failed to sell.
Hah! I got an edit in just a few minutes before your post saying just that.
But for the most part, people are just lazy and impatient. They want the money now, so they take much less than the item's worth and just hurt themselves in the long run.
It is lazy when you automatically write off an amount as being overpriced as a justification for why you're bottoming-out the market without any knowledge of what the value of the item is and why the items are priced as they are.
If you look in the high-end of buyouts you can truly see some overpriced stuff, but on average the prices are actually rather low thanks to exploits and undercutters. There isn't some massive conspiracy to fleece everyone out of their money no matter how much people try to convince themselves that this is the case.
If the thing you put up for 40k buyout doesn't sell over the course of 5 days then it clearly isn't worth 40k to any potential buyers and you deserve to lose the posting fee. On the other hand you could probably have gotten more if the thing you put up for 2M buyout sells within 5 minutes.
Do note that using the default 5 days auction length is IMO only a good idea if you a) don't mind waiting and b) want to test your pricing. I've had far better experiences with 3 days and 24 hour auctions.
24 Hour auctions are good if you want to sell something fast as long as you don't set the initial bid far lower than what you feel is an ok price. It's mostly useful when you have a lot of stuff to dump and you just want some AD.
3 day auctions have some time to get people into what they hope is a sniping position and due to 5 day auctions being the default, there's a psychological effect of "this has been running for a while without many bids, I could score something cheap here" even if it has just been put up. It's also somewhat resistant to a couple of cheaper lots getting dumped compared to the 24 hour auctions.
Entitlement issues ftw.
This... +1
I've never been a fan of the people who undercut by 1 copper. When I see that, I tend to buy the next higher one, just on principle.
I admit to doing the same. Maybe it's like a professional courtesy to other 'wheeler and dealers' ;P
I (usually) do exactly the exact same.
>>>>> +1 <<<<<
If you have an item, it is your choice what you sell it at...so you sell it cheap, who cares? so you sell it overpriced, that's your prerogative! this is all part of a natural economy! it won't really affect HAMSTER unless it is happening in high amounts which only happens if supply/demand shifts, so get over it :P
Threads: Part 1: Rising of the Dragons (NW-DNGIC6AJC) | Part 2: Abyssal Pursuit (NW-DESQ9HQAZ)
This is exactly why we do it too. Not only does our item sell instantly and we get our AD right away, but the joy of knowing that doing this somehow angers some players out there is kinda funny.
It really depends on the market you're playing. With keys, for instance, odds are good you'll be undercut within seconds of posting. Other high volume / high demand areas (esp. things from the Zen market) are similar. There are hawks watching constantly to ensure that it is *their* product moving, and not yours.
Speaking of auctions, though, and a bit OT - why do people list Jewelled Idols for anything less than 44,000AD? I've bought a few at 40k just to cost the seller money (40,000 - 10% AH fee = 36,000). Why would someone wait to make less than they could have had?
Listings that have buyouts are how people obtain high-demand items they intend to use. Long-term auctions with a ridiculously low starting bid and no buyout/too high of a buyout are how patient people score deals on stuff to flip for tidy profits. The wait doesn't matter if you're not going to use it.
What I really don't get is people who repeatedly yank their own listings so they can repost cheaper because somebody undercut them by a bit, losing their posting fee each time and really bottoming out the market on whatever particular items they've listed. I've seen it happen.
Neverwinter Census 2017
All posts pending disapproval by Cecilia
that's the nature of business. undercut to sell. quit over pricing your stuff.