Laugh and regard me as a server newbie all you want, but I have much more experience with marketing and trading than most people on this server.
You are absolutely right. I'm not taking any of your advice as a crutch or even remotely useful. Me coming to this server is like an experienced CEO of a large multi-billion dollar fast food chain coming to a small town and establishing his restaurant. The opinion of the locals barely matter. It's irrelevant if there's a small family owned mom and pop restaurant with burgers half the price on the other side of town. There is a reason for his success, and there is a reason for mine.
My recipe prices were adjusted based on two factors:
1) TUJ average.
I use TUJ average rather than actual current market price because it is a world wide average based on what EVERYONE is selling that item is at.
When it comes to items that are low saturation, such as my recipes, I do not base my prices on current listed price.
The reason is because, alongside with the average price being a fair price, I rely on the low saturation to sell my item.
It's relying on the notion of 'the right buyer at the right time', meaning that at any given moment, my item could be the ONLY one on the AH, and at that given time, there is a buyer who is seeking that item and purchases it. When this occurs, I will receive the actual market average rather than the lowest listed price as of 3 days ago.
This method does not work for high saturation items such as gems or ores. For high saturation items, you must rely on current market listed, and not current market average.
In the long run, I sell low saturation items at a fair average price, getting more gold than if I had of sold it at a much lower price that was as of 2 or 3 days ago.
When it comes to highly rare items or downright discontinued items, TUJ prices are far from relevant. Price is now determined by what the buyer and seller negotiate on.
Yea, you may have x discontinued item listed on TUJ on some other server for 1/2 the price. In such cases, the person interested must ask themselves if they are willing to dish out $50 to transfer a character to and from that server, along with working around the gold transfer limit, to get that item. Or, is it better just to pay a little more here to avoid paying real life money?
There is a reason why I have gained over 500k since the release of MoP. It's because I know my !@#$.
I appreciate your input regarding the previous overpricing of recipes, and I do admit I had blindly slapped prices on them.
But, your insults and continuation of flaming after me taking your suggestions and bringing the prices to a fair average is quite an embarrassment on your behalf.
Yes, I CAN put a price on rare or discontinued items, because *I* have the item and someone seeking the item does NOT. I have seen people pay 100k, no questions asked, for discontinued items. No, my prices are not fixed, and can be negotiated within reason.
Edited by Rainbowdash on 1/16/2013 2:36 PM PST