Merchanting for the regular player
by, 02-20-2012 at 04:20 AM (2989 Views)
I wanted to start this blog mainly to help people to become better merchants. From what I have expierenced it is hard to make money when you start out and even at high end levels if you do not know what you are doing.
Heres my take on how to make money through merchanting.
1. I never buy collectables unless they are extremely underpriced because I think of the amount of time I will spend on having to sell that thing, whether through asking around or through the cs. Yes, there is no time consumption besides the 30 seconds to list it when it comes to the cs but it is still a space that can be used to list other things (me personally I only have 37 cs slots which sounds like a lot but when it comes down to it they can get filled quit easily)
2. I always think about the time vs. profit factor. To go into more depth on this I think of how the item can be sold as quickly as possible even if i do make a lesser profit because in the run of things being able to able to sell in volume is more important than selling to make huge profits especially when your first starting out (1-4 mil)
3. I personally believe in buying lv 50, 60, and 65 sets only because these are all things that people are willing to spend more on due to the fact that they will keep them for longer and know they can turn around and sell when the time comes.
4. I try to keep my customers happy because in the long run this will lead to more trading oppurtunitys because they will have a sence of "loyalty" to you because of how you have helped them in the past and because they know you are good for it. No, I do not suggest letting someone scam you or rip you off just to keep them happy but I do strongely advise against trying to work somebody over the nickle and dime. Like I said previously time vs. money.
5. If someone has an item(s) you desire to resell and not to use do not try to hound this person for it. Meening if you can't agree on a price that you are both happy with remember you can always walk away from it and in my experience this actually works well because 20 minutes later i get a pm asking if im still interested in the piece(s)
6. Do not get scammed. This is quite self explanatory but I have seen many of my friends try and rush into a deal because it is to great to pass up and it does not turn out like they had planned. Do not allow this to happen to you.
7. On a lighter note though rember that there is a wide variety of people that play this game so your tactics of buying/selling with one person may not work with the next down the line. Try and stay vigilant to how somebody acts/talks because this can give you tells on just how to get them bite.
8. BE FRIENDLY!!! I can not stress this one enough. Now obviously it is merely curtious to act as such but on top of that people will always be more willing to barter if they are being treated nicely. I am not saying to kiss there... butt, what I am saying though is that if you are treating people well (especially using humor!) they will be more prone to the trade.
9. Do not be afraid to use the Consinement Shop, it works wonders because while you are offline it is still selling for you, and it also makes it so you don't have to have your harder to sell things in your inventory. I have also found that occasionally people put things on the cs for pretty cheap in an attempt to merely get the money fast so don't be afraid to check every once in a while to see if there is any good deals. I personally have messed up by putting things on for /10 of what there worth (ie: 100k vs 1mil) because the amount of zeros is dislodging xD which sucks to be me but I have also seen it happen be4 with others and can say that I have scooped those up in a heart beat but i suggest not being that guy cuz its a painful go about lol. I also suggest using the 3 day choice because yes you are spending a bit more to list them but you can than list things and feel safe when someone undercuts you.
10. My last and final point is this: Keep in mind that these are actual people. Some people I know loose track of this thought because they see the avatars of alterra and see them as nothing more then a paycheck (for lack of better examples) and this can lead no were but down.
I hope this helps anyone whos reads it and if there are any unanswered questions feel free to pm me ingame or on the forums