AH Prices

[hongman]

Just need a bit of info on how AH prices on bidding are interpreted!

When u go to the AH and bid on something and check the Price History, what do those prices reflect?

I.E when UI go to the AH and bid on somehting (for arguments sake let me choose the Yew Wand which I bought last night)

The Price History was full of 1000g upwards, but I onyl bidded 500g and I got it.

Also, I use the Histroy a lot to judge how much to sell my stuff for.

A little trick I have noticed is to stock up on spells in Bastok, and sell them in the AH at Sandy, makes a bit of profit

Crystals x12 I sell for abotu 1000 normally, and they go quick, same as Hare Meat, sheepskin, G Sheet Meat, etc...but on Cure II, I saw the price hisotry with like 11,000G - I thought blimey, so I auctioned mine for 8,000g, undercutting but still a huge profit.

It hasnt sold, namely becuase I think because I think (from chatting to other players) it goes for around 4-5k.

So now I am confused at what the History actually represents?!

[Feenicks]

Re: AH Prices

AH History represents the previous sales of an item. It's perfectly normal to sell your items at a price based on the previous sales - but remember to note the frequency of sales as well as the price.

Basically when you set a price on an item, that represents the minimum price that someone can bid before your item sells, but remember that the item which was put up for at the lowest price will sell first. For example, lets consider Goblin Armor:

Price History says that they have sold for 1k each in the past, but you want to sell yours quickly so you put it up for 600gil. There are three other Goblin Armor's on sale with the following prices listed (you can't see these usually by the way):

Fireman 550gil
Hongman 600gil
Waterboy 950gil
Toolbag 1210gil

So say RandomPlayer goes up to the AH and wants to buy Goblin Armor. He sees that there are a few available and tries a low bid. He bids 500gil and gets nothing, because no one is selling that low. He re-bids at 600gil and buys Fireman's armor for 600gil because he was selling at the lowest price. He bids 600gil again and buys Hongman's armor for 600gil. He tries again but his bid is unsuccessful because the next highest is selling for higher than 600gil, so he rebids at 1k and buys Waterboy's armor for 1k. If he wanted to buy more, then he would have to bid at least 1210gil since that is the minimum selling price of the last remaining armor.

Another example - that Yew Wand you bought. The Price History shows that people usually bid 1k for it (and get it) but you tried 500gil and got it because someone tried to be smart and make their stuff sell quicker by undercutting and placing it at a lower price.

Hope that helps you in figuring out how the AH works!

[hongman]

Re: AH Prices

Perfect - Thanks!!!

[Ameroth]

Re: AH Prices

The auction house can be your best friend... or your worst enemy. Just gotta learn the tricks of the trade; which Feenicks laid out for ya. :]

[Jarre]

Re: AH Prices

I have always found that undercutting a few hundred on less expenvie items or a couple of grand less on really expenive items, gets a quick sale. I have only had a couple of instances when i get what price i put it up for, msot of the time people pay the average amount shown int eh AH history, so i can put say a stack of zehrun Powder average price is 10k, there is 6 in stock i sell for 8.5k someone buys it for 10k but I beat the other 6 people trying to sell it, so item goes, price is good. It is a gamble liek all auctions in real life, you benefit from some and loose out on others, though in my experiee of benefit/loose ratio its about 90/10 and the benefits value outwieghs the loss.

When buying I always bid the lowest figure first then slowly increase the amount. I ahve made some great bargins and saved myself money doing this.

[hongman]

Re: AH Prices

Great stuff, I have wondered too sometime why my money from the AH is more than what I put it up for!