20 Days of Gold Making – Day 16
Thanks to Nev of Auction House Addict for coming up with this idea.
Flipping! Do you flip stuff regularly or sometimes? Big ticket items or smaller high volume stuff?
When I teach friends on how to make gold in WoW I strongly advise them to avoid flipping. Of all the ways to make gold in the game I view this as one of the most dangerous. It requires an extensive knowledge of the auction house that most people do not possess.
Having said that, I must admit that I do flip auctions. I will almost always stay away from high priced items. Very few times do I profit from high priced items. On are rare time you might find an item that was priced low because the seller made a pricing mistake or simply did not know the true value of the item. However most times a seemingly low priced item is priced low for a reason. Usually because the seller knows something that you do not. Stay away from high priced items. If you choose to try this I recommend you not spend more gold than you are willing to lose. From my experience I have had more high price items flip for break-even or loss than I have had for profitable sales.
Most items that I buy to flip fall into the 50-250 gold range. I will buy rare armor, weapons, rings, and necklaces at low cost and will flip them for twice the price of what I have paid. I also have a list of transmog items that I search for daily on the ah. I can buy transmog items for 10-20 gold each and re-sell them for 200-500 gold each.
Some markets I would recommend caution with trying to flip. Jewelcrafting is a good example. Many times I have tried to reset the gem market only to have my competition undercut me so drastically and rapidly that I ended up losing gold. Inscription and Alchemy are two other markets I have found to have low profits for flipping.