Wooooahhhh I went there! Buying low then selling high makes perfect sense in economics class but it is NOT the most effective way to make gold on the auction house. The phrase should read as follows...
- Bid Low -> Sell Normal
Yes buying low and selling high does make sense and it is possible to make all your wow gold doing this. Typically You will buy something out for 80-90% normal price and resell for 95-120% when demand is high but supply is low. You might also be buying items in stacks of 20 and then you can resell them individually for more overall. These are both legitemate ways to make money in wow, but they are not the BEST way. This being said, I still encourage you to buy low then sell high when it's advantageous for you to do so.
Before I move on I'll say this again for emphasis:
- Bid Low -> Sell Normal
If you follow this simple guide (and the fastest path to success is usually the simplest) then your auction bid section should be filled every day with low bids on items that you will resell for several 1000% profit. Trade goods are notorius for being put up for several silver bids when they normally sell for much more.
My level 17 orc... LEVEL 17!!! on a DIFFERENT SERVER from my main made 100 gold in 48 hours doing this and he started with 5 gold 60 silver 29 copper.
He would bid 1 silver on an herb such as bruiseweed or gromsblood and resell it for 50 silver. Every bidding cycle (mostly medium bids so around 8 hours) he would double his money. In 48 hours he easily cleared 100 gold with about 140 in his bags and 50 in the auction house placed on bids.Bidding Advice:
If you get outbid by someone and there is less than 30 minutes left then the timer is reset to 30 minutes. So wait around fifteen minutes and then rebid the
item. Never ever rebid an item within five minutes of being outbid yourself as it will result in a bidding war which will ruin your profits. In fact I usually ignore an item if someone outbids me until several hours have passed. Also keep in mind that a majority of your bids will not be successful, so bidding on every single deal you see is the best way to ensure you get atleast a handful of wins.
How to search for items you wish to bid on:
- Example #1. Search Trade Goods, Herbs. Sort by Current Bid in ascending order. You will see herbs with low bids and sometimes very high buyouts. Look around
and if you see an herb that fit this description then do this: Shift click the herb, press search, sort by current bid in ascending order. Be sure that the
item you're bidding on is worth it at that bid price and then clear your search. Repeat until you are done bidding on Herbs.
- Example #2. Search Gems. Select Red for starters. Type the word 'Perfect' into the search phrase. Search and sort by current bid in ascending order. You will
see in the search panel the decently valuable perfect red gems which also sell remarkably well on most servers. If you see say a perfect +ap gem for a cheap
buyout then shift click the gem and check to see if that bid is worth taking. Repeat for all gems and their colors.
Many gold selling guides focus on this method as THE #1 WAY to make money in wow. In fact, you would of paid atleast sixty dollars for a wow guide to teach you this strategy. After all, if my level 17 can do it with no help I'm sure you'll be able to as well.
If you have any questions please leave a comment and I will attempt to answer you as soon as possible.