I gave my alt 1000 gold and sent him on his way to make his first scan.
I set the profit margin to 5 gold and searched under resale.
THAT WAS A MISTAKE.
Over the course of three days I was making very little money and investing way more than I was making because items that net you a 5 gold profit each are often very expensive to buy initially.
I lowered the profit margin to 50 silver and instantly started making much more gold per day.
The first two days searching at 50 silver I made up my 1k gold investment. By day three I was making 400-800 gold a day with just one hour's worth of using auctioneer. Not to mention the fact that the number of auctions I was posting went up around 40-100 per day.
Why does the 50 silver profit margin work so well? First off the majority of items selling for 5 gold or more profit are weapons, armor, some flasks, and other high value items that do not sell as frequently as other cheaper items on the auction house.
Items not selling well and being expensive to post can really hurt your earnings.
By setting the profit to 50 silver I was able to target the cheaper goods which sell better, and therefore bring in more profit. You might be thinking to yourself, well, self, weren't the items worth 5 gold profit also showing up in the 50 silver profit search? Yes, yes they were, but they were no longer the only option available.
What items was I purchasing?
- Metal and Stone
- Cheap Greens for Disenchanting
- Enchanting Mats