Learn to Mark up your crafted items

97 Night Elf Hunter
7450
Some crafters don't make a killing because their competitors don't understand when to mark up.

mats = 12G; value = 200G.. then sell it for 200 G
mats = 190G; value = 200G.. then sell it for 200G

Charge what the market will reasonably bear and make your money off of the items that have a low mat cost.

Let someone else make the collosus enchant which usually sells for a loss.

Don't list an item for 1g if the deposit is 50s and the sell chance is about 10%. You will lose money. Instead you may want to just vendor the item for the 85 silver. I am talking about green gems in particular.

Don't rely on a stupid addon to tell you what it should sell for. The addons don't have a brain.

Edited for spelling..
Edited by Xorno on 4/21/2013 6:24 PM PDT
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90 Pandaren Monk
10695
while your intentions are admirable no one selling for a loss is likely to read this.

They are the people farming mats and think that makes them free. So you and I see mats cost 100g item is selling for 90g thats loseing 10g. They see i got mats free and that sells for 90g, 90g profit.
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90 Human Paladin
11825
Some crafters don't make a killing because their competitors don't understand when to mark up.mats = 12G; value = 200G.. then sell it for 200 Gmats = 190G; value = 200G.. then sell it for 200GCharge what the market will reasonably bear and make your money off of the items that have a low mat cost.


As you can tell by my name, I'm not in this game to make money or charge ridiculous prices for items that are won by lucky roll, random drops while questing or crafted with mats you were going to farm anyway.

The only reason you care, is you're not selling your items for whatever you think it's worth because others are selling them for less. If I get a blue that randomly dropped from a Mob, I undersell the heck out of it on the AH. Heck, I undersell everything I put on the AH.

I was selling crafted 476 items for 5-10K less than AH prices. I was skinning anyway and picking up the motes as well.

Though I'm curious, how did you come up with your formula? Is that an established breakdown listed in the Blizzard Terms of Service? Or World of Warcraft rulebook?
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100 Human Paladin
17090
04/20/2013 01:16 PMPosted by Sellforless
I was selling crafted 476 items for 5-10K less than AH prices.


Why would you do that? Unless you're gold capped there's no need just give things away. People are capable of paying, and everyone needs gold for other things.

PS. don't ever open a business
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97 Night Elf Hunter
7450
I always put my bid prices at about cost so that those without gold and a little patience can still get the item. believe me; I am not greedy. I just get annoyed when i make an item just to find out that the selling price is suddenly 1/2 of mat cost because some farmer is crafting when they should stick with selling mats because that uses less brains. I have plenty of gold right now and don't need anymore.
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I always put my bid prices at about cost so that those without gold and a little patience can still get the item. believe me; I am not greedy. I just get annoyed when i make an item just to find out that the selling price is suddenly 1/2 of mat cost because some farmer is crafting when they should stick with selling mats because that uses less brains. I have plenty of gold right now and don't need anymore.


If somebody is selling an item at half mat cost buy it and relist.

That kind of thing happens all the time. Just use it to your advantage.
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97 Night Elf Hunter
7450
Some farmers prefer a guaranteed sale at 50% over an iffy sale at 150%. Sometimes i buy their stuff and other times I let it go because I know they have 1000 more stacks of the crap and are trying to farm it off to me.
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100 Human Priest
13880
I sell at a loss for two reasons: (1) tired of having something in my queue that is clearly not selling even with lowered pricing (e.g., some cheap enchants), and (2) prices have bottomed out and I won't make the gold back on it (e.g., crafted items made with haunting spirits that were purchased two weeks ago).

The flip side is that you can over price stuff such that it doesn't sell or that you only sell 1 per week when the market can bear more sales for lower prices (e.g., choppers). Sure, I might be able to sell a chopper for 25K, but I'll sell 2-3 for 20K. I sell some 80 level tanking gear for a lot of markup, similarly some BoA enchants are great markup, these have decent margin, but there value is somewhat low (50-200g ea item). I make up for that in volume.
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90 Human Paladin
11245
A "thing" is only worth what a buyer is willing to pay.

The only reason you care, is you're not selling your items for whatever you think it's worth because others are selling them for less. If I get a blue that randomly dropped from a Mob, I undersell the heck out of it on the AH. Heck, I undersell everything I put on the AH.


I blows my mind when I see AH derps post 20x at half the price I sold the thing the day before.
Yes, sometimes I will buy it up and profit from their awareness but it still blows my mind the way some will consciencely say "....no, i dont want you gold...take all my stuff for lower prices..."
Edited by Blackbriar on 4/20/2013 8:29 PM PDT
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100 Blood Elf Warlock
16395
I sell at a loss for two reasons: (1) tired of having something in my queue that is clearly not selling even with lowered pricing (e.g., some cheap enchants), and (2) prices have bottomed out and I won't make the gold back on it (e.g., crafted items made with haunting spirits that were purchased two weeks ago).


As Cataclysm came to an end people were unloading Elementium and Obsidium for seven or eight gold a stack. I bought thousands of stacks. I sell them for 70-80 gold per stack. I am selling Hypnotic Dust that I purchased for 70s for 17 gold each and it sells as fast as I list it. Sometimes it does actually pay to be patient.

While there are certainly some things that drop in price, I purchased hundreds of cheap enchants at the beginning of the expansion and am selling them off now for huge profits over my cost for them as people now have the gear to actually use them.

The two most important things to understand in the gold game is that you don't ever have to be in a hurry to sell something for which there is or will be a demand and that time really is money, friend. Time and margins. That's it.

That being said, I don't actually invest in anything that I don't think will bring me a profit.
Edited by Higeki on 4/20/2013 10:36 PM PDT
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95 Blood Elf Paladin
4850
^^
True,

As you say, I bought about 40 collosus enchants for 50G when the mat cost was 300G because peeps were leveling their enchanting and dumping their chants on the market. They still don't sell for 300G but at least now they usually sell for 200G. That is just one example. early on mirror scopes sold for about 25 gold from peeps leveleing engineering, and now they sell for closer to 200 G usually. I have not had good luck with cata gems that i thought i was buying at a discount though.
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100 Blood Elf Warlock
16395
I was investing in items that were used for leveling. I knew that they should see use again. Cataclysm uncommons can bring good profits if made into jewelry. I don't have a real use for Cataclysm rares. What twink market there might be is already being served but I still make a profit if I prospect Elementium. However, I usually just try to get the gems that I need off of the Auction House for cheap and make bigger profits that way.
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90 Gnome Rogue
15455
[quote]If I get a blue that randomly dropped from a Mob, I undersell the heck out of it on the AH. Heck, I undersell everything I put on the AH.


Which is fine with me because I'm the one that buys it from you and relists it for 2-3 times what I bought it for. You think that you're all noble but you aren't really saving anyone any gold, you're just losing a lot of gold that you could have had yourself and giving it to people like me.

Thank you btw.

Keep it coming.
Edited by Jawaka on 4/21/2013 10:57 AM PDT
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95 Blood Elf Paladin
4850
04/21/2013 10:56 AMPosted by Jawaka
[quote]If I get a blue that randomly dropped from a Mob, I undersell the heck out of it on the AH. Heck, I undersell everything I put on the AH.


Which is fine with me because I'm the one that buys it from you and relists it for 2-3 times what I bought it for. You think that you're all noble but you aren't really saving anyone any gold, you're just losing a lot of gold that you could have had yourself and giving it to people like me.

Thank you btw.

Keep it coming.

LOL
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04/21/2013 10:56 AMPosted by Jawaka
[quote]If I get a blue that randomly dropped from a Mob, I undersell the heck out of it on the AH. Heck, I undersell everything I put on the AH.


Which is fine with me because I'm the one that buys it from you and relists it for 2-3 times what I bought it for. You think that you're all noble but you aren't really saving anyone any gold, you're just losing a lot of gold that you could have had yourself and giving it to people like me.

Thank you btw.

Keep it coming.


This. Flipping the AH is a great way to make gold if you are patient and willing to spend some gold to profit. I have no problem giving new players a hand getting going in the game, and helping those that are naive at making gold get things rolling as well. Whatever I sell I try to list at what I think is a reasonable price, especially if I am out gathering cloth, herbs, ore or leather. Time is money, and if you decide to buy off the AH instead of gathering your own materials, be prepared to pay a convenience fee. Simply business, just as it is in life.
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90 Night Elf Hunter
14225
you don't like my lower prices then buy them and resell it what ever price you want it.
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100 Human Warlock
7690
I like to try and crash the market on high priced stuff with low cost items just for fun. It is short term effect and bigger pic this is just a game so why care about pricing.
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100 Undead Rogue
10235
Some farmers prefer a guaranteed sale at 50% over an iffy sale at 150%.


Some people are complete morons, then. Nothing is guaranteed except vendor price.
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you don't like my lower prices then buy them and resell it what ever price you want it.


I do, all the time. And I thank you for it.

Goblins thrive on impatience.
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90 Night Elf Druid
6080
i'll statr marking up my prices when blizzard starts finding a better way to utilize the damn AH besides endgame gear and mounts/gems. Im a fricken inscriptionist and I cannot even sell my glyphs under 10g even the good ones. currently have idk maybe 50 glyphs in the AH none has sold for the past week now. people rely on their alts for mats for the most part or friends for free mats.

we all known majority of the glyphs are not even useful and we all know glyphs are pretty much character bound which makes it extremely useless for an inscriptionist to even sell glyphs for the most part. it's not like a ton of people play this game like it used to making new characters constantly. herbs also isn't very hard to farm potions are not very hard to come by especially since you can buy golden lotus easily from the vendor. Selling herbs is just as useless as selling glyphs. so really no sense in marking up prices when the AH is just dead.
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