Ironforge, Auction House - When looking for items to resell, you'll often see a situation where there are two of the same item listed at a good price. Most of the time this is a good thing and occurs because someone posted an auction at a very low price, then someone else came along, frowned, and undercut him. In a competition like this gold challenge, you'd probably rather see a variety of resalable items, but you can't just walk away except that I found a spot where maybe I should have: Aviary Guardsman's Hauberk . A few days ago I purchased 3 of these for roughly 15g a piece. Sold one for about 35g, but now there are no fewer than 5 of them priced at between 15 and 20 gold. If I was truly brave, I would buy them all out. However, I just don't know that I can move that many in the time-frame I want. And who knows how many are still lurking in bags out there. The added dilemma is that this item requires a very high deposit, so even taking the 2-3 gold profit if I undercut them isn't as simple as it looks. What I'm going to hope for is that the market clear itself on its own (though I'm not sure there is enough demand) or, and this goes to the glut, price should come down even further. Given that the item already has a 9g vendor tag, if the price dips anywhere below 15g, I'll just snatch them myself and store them away knowing that the most loss I'm going to take on any of them would be 5 or 6 gold. Then, once the market has cleared itself, I can go back to posting in the range it ought to sell for: 35-45 gold.
And, speaking of multiple items of the rare-ish variety, I found another Signet of Edward the Odd , this time priced at 150g. And again it was a must-buy, even though my original signet still hasn't sold. The price is now below 500g. My guess is that this weekend I'll get a nibble, and now that I've got two of them, I'm going to go even lower just to make sure one of them moves. Maybe I'm overestimating the desirability of this item, but it seems like it is the perfect ring for a Hunter, Rogue, or Feral Druid. And it even fits with one of my theories of World of Warcraft: players love procs. And to have a ring that procs isn't all that common.
I think I might try tampering with the Goldclover market. I've been watching the high-end herb market hoping to pick one that looked enticing, and it *seems* like Goldclover on this realm is being supplied erratically. Sometimes there will be many stacks at about 75% of market price, sometimes there will only be a few at 120% of market price. I probably don't have the liquid gold yet to go all out, but I'm going to try to acquire 10 or 15 stacks at the lower price and see if the window continues to open up toward the 120% zone. If it does, I'll get more aggressive with it. This is another of the big risks of the Auction House though: Is there a botter out there (or just someone with a Goldclover picking obsession) who is going to pop onto the scene and set the market price. If there was no such thing as botting (and for those who might not know what botting is, it is simply a program that will play your character for you. Among the things it can do tirelessly well is gather herbs/ores), it'd be much, much simpler to predict supply. Unfortunately, the big x factor is whether there are aggressive botters working on your realm. And given the need for gold-sellers to maintain their stocks of gold, you can bet there are. It's just a matter of whether they are exploiting the specific niche you are trying to capitalize on.
On my old server, the Saronite Ore and Titanium Ore market was dominated by one player for weeks with thousands upon thousands of stacks of Saronite and hundreds of stacks of Titanium. He'd list Saronite ore several gold *below* its smelting value (meaning that all someone had to do was buy the ore, smelt it, and make a couple gold per stack smelted). It's one of the unfortunate problems with the World of Warcraft economy, but, the way I've looked at it is like this: it's just a variable that needs to be accounted for. Unless Blizzard gets a lot stricter about botting (in other words, spend more money to stop it reliably faster), it's just going to be a reality of the marketplace.
Total Assets at the end of 11 hours: About 3100 gold
Go to Hour 12 of the Alpha Competition