Friday, June 22, 2012

Flipping Items on the Auction House: 6 Golden Rules

Flipping gold on the auction house is an awesome way to make money. In fact, with this new patch with repair costs through the roof, it's pretty much all I've done. I've made probably around 20 mill in the past 3 days through nothing but auctioning, and also keep up 10 gold and 10 RMAH auctions at a time; this lets me do other things I enjoy, such as play League of Legends.

So what have I learned from flipping?

1. Flip what you KNOW and research what you don't.
    - Monks and DHs like Dex and Crit
    - Wizards like Int
    - Everyone's okay with more Vit/All resist
    - Attack speed is good, but out of style
    - See where I'm going with this? Buy things you'd buy for your own char.
    - Research the forums for what's in style!

2. It's okay if you miss some deals. 
    - There will always be more deals. Don't be upset if you miss one.
    - Next time you'll know that time of item is a hot deal!

3. If the time left is 1 day 11 hours, think quick, if it's not, think slow
    - You should always put some thought into your flip, but the time is important too
    - Recent auctions tend to have a better chance of being a good deal.

4. Search in reasonable increments when pricing
This is a common mistake people make. They have a 67 dex ring and find that the lowest for a 65 dex ring is 2 mill and price it for 2 mill. Meanwhile, 60 dex rings with identical stats are selling for 200k. Oops! It's not going to sell.
Increments of 10, 50s, and 100s are most common.

5. Maximize your turnover and reserve slots.
    - You should always have 1~2 slots dedicated to high turnover, high demand, cheaper products.
    - Selling big ticket items is nice, but don't ignore the smaller profits too.

6. Keep a Cheap Set in Reserve! Don't Put all your Eggs in one Basket!
    - Since inferno's farming sucks, it might be tempting to sell all your gear.
    - Keep some gear in case you get bored/out of funds
    - There's nothing worse than deciding to tie all your money up into a big-ticket wizard item
    - When you only have a monk and a DH with no gear left.
    - At least keep a set of gold-find gear, 30 minutes of farming Nightmare Arreat Crater should be enough to net you enough money to start your AH flipping job from 0 gold.

Hopefully these tips were helpful! If you have any other tips you'd like to share, post them below!
Stand firm to The Golden Rules!

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