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In Training
Group: Members
Posts: 12
Joined: 27-September 09
Member No.: 1,010,003
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Joined: 26 Aug 2009
Posts: 10
re: Auction House Tutorial
by Dralig on 27 Aug 2009 07:39 pm
The Lotro Auction House is a great way to make money and clear out some bag and vault space. Also the Auction House will help you to figure out what to farm to make the money the fasters and most efficent way. First i have some guide lines I follow just to make it fair these are not mandatory but I belive is a fair way of doing buisness, and then I will tell you the greedy way. You make your own choice abotu which one you would like to use.
Fair Way
I have been told the fairest price to post items is 4-5 times what the vendor would buy for. There for a item selling to vendor at 5 silver would sell at Auction for 20-25 sp not a bad profit. But my oppinion 7 times not to bad either specially with the auction house prices these days, most people sell at 10-20 times the vendor price. Also selling at these low pricest your items will sell almost imediatley and you dont have to worry about the guy /girl on other end of computer saying this is ridiculous. (if that matters to you)
Not to Bad
This way is my common advice, before selling your item/s search the inventory of Auction see what other people have posted the same item for. Now find the lowest price for the curent number you have subtract 5-10 silver from it and thats what you post your item/s for. Your just a little cheaper then the other guy so your item is almost for sure to sell first assuming the person hunting is not click happy and dont check for lowest price.
Now also if there is one item that is at least 40% lower then the rest of them and market is good (hides,gems,crafting items ext) go ahead buy them out if the math comes out so you can drop price 5 below the other guys and end up maing more in the end, Great investments.
Greety (Do Not Recomend)
Dont be that guy out there that post items for outrageous amounts, youll know whats outrageous. You wont sell much and I know you hate it when you need something and check Auction house and everything is high priced, Think of how you feel and then post items.
Now Farming Tip
I would recomend befor going on farming trip run by and check the Auction House, search for common items like hides, gems, crafting items, and see what they are going for. If you know for sure you can kill these mobs fast by yourself and prices are up, then go right ahead, Sure beats running off to farm stuff and make it to auction house and realize the market is low today. Check each one and see waht has the best price to time ratio. Not to mention will save you that 30 minutes wondering what to farm.
Once you feel comfortable and get to know the Auction House well you can start buying and selling to make a profit.
The trick is to find some common items you fiond there everyday, such as hides,ore,shards,flakes which all sell on a regular basis. Now watch these for a week or so and see the common prices. Once you see abotu what they go for and you see somone post one for alot less, you can buy it out and resell it for a nice little profit. Even 100sp extra adds up quickly. Example below I run into the most.
Example:
Dwarf-Iron ore sells commonly for 800-900 dilver pieces for a stack of 50.
Now every other day you see someone post it 700-800 for a stack of 100. (Happends alot) Buy it out and turn around and split stack to 2 stacks of 50s and repost for say 600-650 silver pieces. Your Price is way lower then competitors and usal prices. Now youve made about 400 silver profit without having to farm a thing.
Like i said above hides,ore,flakes,shards, all sell on a regular basis, stick with those items and you shouldnt loose money, well at least i havent yet.
PLEASE VOTE OR APPROVE OF MY POST
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Auction House Tutorial, Learn to Play the Market
Sep 27 2009, 11:26 PM
