Wednesday, 21 March 2012

Making Even More Gold from Transmog Part 1

1 How to deal with competition
2 Customers: Doing the Dance
3 Haters gonna Hate

1 How to deal with competition
You need to identify what sort of competition they are, I use TUJ to figure out what sort of competition they are and see how many  and at what prices they are posting items.

Are they:
a) The Real Deal
 Good spread pricing the rare and good looking stuff is high, in all markets plate/mail/leather/cloth.


I have not come across anyone like this myself yet but it would come down to supply, buying up more items and being able to post a wider variety of items. Having a competitor like this might actually help you with sales on high end/rare items as a buyer may be able to combine your items and those of your competitor to make a full set.

b) Copy Cat
 They have seen your stuff on AH and want in on the action, has no clue really but he/she is going to try and price match you, price random bits of plate at 5k and hope for the best. They may only stick  around for a week or two then there will be a huge price drop things they were trying to sell for 5k are now 500g, go over the inventory when prices drop and pick up anything  good, most likely very little.

c) The Supplier who thinks he is competition
 They have seen your stuff on AH and want in on the action, he is buying up a lot of stuff and posting it at a “fair price”, 100g, 200g, 500g. Maybe he doesn’t like your high prices and is trying to fight back by providing more affordable items for the masses.
You want this guy in the market, he is another barrier to entry, he is buying random items and selling them at a flat rate, they might get lucky and match one of your items, don’t worry if your item is 2k and there’s is 200g you are as likely not less to sell yours. You want to go on another toon and start sifting through his items and pick up the gems and move them over to your transmogg seller. 

2 Customers: Doing the Dance
 You have an item, they want the item. Lets Dance!

How rare an item is it? Is it something that pops a lot then I’d be more likely to get a deal done? Is it something with a very low drop rate/ hard to farm then more likely to stick it out. The buyer may have spent certain amount of time working on a set and this I the item that took their fancy. Armoury is your friend, look them up! Is this last or first item they are looking for? This will impact on how you negotiate with them. Be direct, give the buyer the info they requested and let them think it over. Generally don’t respond to hate mails/whispers.
You may have heard “ if I cant buy it I’ll go farm it”, well a good example of this was a guy who wanted a piece of the overlord set think it was chest, he wasn’t willing to pay 4.5k – 5k that this item was floating around. From initial offer we started chatting he was sure that he was gong to farm it at that price, but six hours of farming later he was getting down, feeling sad.
Farming specific green drops can be rough. So he came back and we got chatting, I said to him in 6 hours you could have got enough gold together to just buy the item, hell you could have made 12k just mining thorium for 6 hours (he was a miner). A week later I got the item on alliance side for 12g, we ended up doing a deal, 2000g and around 5k worth of items for the chest he wanted.

3 Haters Gonna Hate

On my realm the RP community was getting pretty mad at me for posting all nice looking items at high prices for months. Lots of hate etc. I sent 4 items off to people that were the most calm in there appeals/requests for me to stop, I asked them what they wanted (as long as it wasn’t 5k stuff I sent it off to them for free), well I tried . The next day they had all sent me some gold back and it came to 1k in total.
After this and my promise that I would listen to and try to compromise on any items that people in the RP community wanted the hate/ uproar has vanished. For me it makes sense to try and make a deal and save myself the AH fee and get the sale so I am more than happy to negotiate, making 4k instead of 5k on an item I picked up for single figures is still cool.

Older Posts you might find useful:

Transmogg A General Overview

Selling Transmogg Gear

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