How do you set the sales price

[Papaschtroumpf]

So I have 3 characters with 80+ enhancements each that haven't moved in a week. They were posted mid-last week (and for some weeks ago) so they were on sale over the weekend 

 

When I look at the price history, some are priced too high for current going prices (2.8mm for items that barely each 2mm for example). Others I see sales that are at or higher than my sales price, so that means either the system if bugged or more likely they were enough posted at a lower sales price that got prioritized above mine.

 

My pricing strategy has been to pick something slightly lower than the highest sales if I see something that appears to be consistently selling at that higher price, or slightly higher than the current selling price of all of them are at the same price.

 

For example if all previous sales are at 2mm, I might post at 2,000,111.

If on the other hand sales have a couple 2mm, 2.6mm, and several 3mm, I might price it at 2.8mm

 

I also tried the experiment if posting at 11 inf when the last sales were all in the low 2mm and lost because the enhancement sold at 155k or something. 

 

 

Any advice? I don't mind being patient but if inventory is not moving for several weeks on end (which is the case for some here), then I'm running out of item spaces in the market 

[justicebeliever]

As a real life investor, the answer here is based on your answer to this question:  How soon do you need the money?

 

If you have a lot of high dollar stuff you know is going to eventually sell, then it makes sense to set the price towards the high end of the pricing history and wait it out...

 

If you need stuff to move, price it on the lower end...I'm not trying to be snarky but there is no universal answer...

 

For me, when I am selling a LotG or a PVP Enhancment, I price high, because I know I'll eventually get that extra million for it...

Some of the high healing/resist damage ones, I price toward the high end to squeeze out that extra 500K

Everything else I want to move so I price it at the low end, because getting an extra 250K isn't worth a slot that I might be able to fill with something that'll reliably sell for $3-8M

 

I am assuming your are taking about Set Enhancements...

Because I pretty much sell everything else for 1 inf just to help out the economy...But even then, if I am out of slots, I'll go sell a store (I'll make more honestly).

[Yomo Kimyata]

I usually price to sell it soon(tm).  If all previous sales are at 2mm, I really don't have enough information.  But I would probably post between 1mm and 2mm and hope to sell it before the end of my gaming session.  I'm sorry I can't be more specific than that, but it really feels like an art rather than a science.

 

If last 5 were 2mm, 2mm, 2.6mm, 3mm, 3mm, and I knew nothing else about the item?  I'd probably post between 2mm and 2.75mm.

 

Things to look at are: how many are for sale; are all last 5 trades from today; is this an item I personally find useful; etc., etc.

[justicebeliever]

That's a good point Yomo...And I don't check it enough - the supply and demand...No one's bidding for and lots for sale...either prepare to go the long haul, or put a bare bones bid...

 

Lots bids, no sellers...go high baby, go high!

[Papaschtroumpf]

Yeah set enhancements. Crafted/converted to avoid the low selling stuff, but not chase a particular item like LoTG.

 

I have caviar tastes for enhancements, but too little time to play the game that I don't want to spend my time watching/playing the market. 

In fact I started looking into farming as another way to find stuff, possibly less effective but I can do it while listening to an audiobook, etc..  and get in a Zen mode.

 

But the market is still a tool that I'd like to understand better.

 

I'm raising funds for 3 alts worth of purple/ATO/WIO builds. In one of those people that helps the demand going.

[justicebeliever]

I cannot say enough good things about this guide:

 

[Yomo Kimyata]

It also really helps if you have an idea of how it has tended to trade over the last few weeks.  One of my rules is KNOW WHAT YOU TRADE AND TRADE WHAT YOU KNOW.

 

If the last 5 are all 2mm and it's a LOTG proc, you don't want to be listing at 1.5mm.  And if it's a Scirocco's Dervish triple, you don't want to be listing at 2.5mm.

[DSorrow]

Depends on several things, really, but here's my main question: if I intend to list new things tomorrow, I'll price towards the lower end of the last 5, if I'm pretty sure I won't list new things until much later, I'll set my prices towards the higher end. Other than that it's a combination of knowing the item's "going rates" (e.g. something that usually goes for ~4mil and is now at 2.5, I'll probably list at 3.5 and wait) and looking at individual statistics such as how many are for sale (listed > bids, I'll set price towards the lower end, very few for sale, I might list higher than any in last 5).

 

Also people tend to be pretty lazy when they set bids. If there's an item that's going for a pretty steady 2M, I'll usually list at 1.6M because most people move from 1 or 1.5M to 2M without trying anything in between. This ensures that my items move (= cash flow) and fetch the market price. Sometimes I'll lose out a bit of money on random 1.65M lowball bids, but because I list in bulk I can just put the next ones for 1.66M and get my 2M sales.

[Shinobu]

 

First, if it's a very popular IO with not a ton for sale (say, less than 100 for sale, or less than 50) and I don't care if it sits a while, I will price it close to the going price or above the going price.

 

Certain things I'm just stubborn on.  When Miracle +recovery are selling for 4 million or less, I will still list for 4.7 million or 4.9 million or whatever, with an eye to sell for 5 million,  I figure it deserves to sell for that and I can wait until the price rebounds.  Similarly I refuse to list Performance Shifter Endurance IOs for less than 2 million, even though mine might not sell for a great while.  I often list them for 2.1 million even though I know the going price is generally no higher than 2 mil.  I'm only like that on certain IOs though, and I admit it's being stubborn.

 

For regular IOs I will often list up to half a million or 9/10's of a million below the going price, depending on how many are for sale.  For example, something that sells for 3 million I might list for 2.6 million or 2.1 million.  Something that sells at most for 2 million, I'll generally list for 1.5 million.  My goal is to sell, and I make my big money on the special IOs.

[Six-Six]

I think after a while, you get a feel for the market. You get familiar with what sets and which pieces of the set sell higher than others. The AH is a mysterious place. I tend to take the History more of a loose guide. For example, you have something you know is worth squat and post it of 2 mil, you're going to be waiting a while. A lot of the common in-demand things will usually go for within a range, that I've found depends on the time of day and the day of the week; the market reacts to live players, not AI. so a LotG might sell less on one day than it does on another. That said, it will never really sell for less than 2 or more than 5 mil. Similarly, that rare salvage of yours will sell for 450-500k even if you just sell it at 2 inf.; Good luck seeing it move if you post it at 600.

Unless I'm selling in-demand items, I'm not greedy. I just try to make roughly 1 or 200 more than what it cost to craft it (salvage cost, crafting cost, recipe cost -- although salvage and recipe, I get for free). Some of the cheaper things, I run through the conversion lotto once or twice as any more would be counter productive in terms of cost and profit. Some things I just try to get rid of. And if it's really not selling, I email it to one of my lower level alts who can put it to use.

[molten_dragon]

I post stuff to sell quickly.  I'd rather sell it today and make 2 million profit than sell it a week from now and make 3 million.  It keeps my money and auction house slots free for other things.

 

My pricing strategy is to look at the average selling price, then price mine just above the next lower "logical breakpoint".  For example, if all the recent sales of something have been for 8 million, I'll post mine for 7,500,001.  That way it sells before the people who posted theirs for 7,999,999 or 8 million, but won't go for 7.5 million.

[Murcielago]

I take an average of the last five, ratio of bids to available quantity, and then I list it. Usually if the bids are way more than the quantity I will list it for the highest last five price and it usually sells within a day. 

[Yomo Kimyata]

There are (at least) three things I've noticed and I try to use to my advantage when selling:

 

1.  People like round numbers.

2.  Buyers generally don't like to bid creep, and will usually only place 2-3 bids.

3.  People tend to believe the last five, and assume that the next buy/sale will be in context of that.

 

None of this is rocket science, just a type of behavioral economics, but it may lead you to some conclusions. 

[Robotech_Master]

On 7/25/2019 at 4:19 PM, Papaschtroumpf said:

Any advice? I don't mind being patient but if inventory is not moving for several weeks on end (which is the case for some here), then I'm running out of item spaces in the market 

My own rule of thumb is to price just above a million less than the current going rate.

 

For example, Luck of the Gambler Global Recharge IOs tend to go for 7 million, give or take. So I price mine at 6,111,119 Inf. (The "9" at the end is so that people lazy enough to hit 6 and then just six ones have to be a little more creative than that.) Does this mean my item might sell for 6.5, or even 6.2 million, instead of the 7 million I'm hoping for? Sure! But it only cost me a million or so to craft and convert the thing, so I'm making a hefty profit whether they pay me 6.2 million or all 7. Never set your asking price below what you would actually be willing to take.

 

As a previous poster said, you kind of get a feel for it. You have to look not just at the last 5 bid prices, but how many buyers there are and how many sellers. If more people are selling than buying, you might as well resign yourself to waiting a while, or else reconvert to something else. If more people are looking to buy than are selling it, then you can price a little higher—including going above the going rate, if necessary.

Edited August 12, 2019 by Robotech_Master