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Market research

BigBadEdward's Avatar

12.26.2011 , 12:37 PM | #1
How do you folks do basic market research? I don't play the market or spend a lot of time on selling, in WoW, I would see what other people were selling an item for and price mine a little lower but I'm having a hard time with that in SWToR, mainly because the market isn't easily searchable.

How do the rest of you figure out what price to set?

VenomByte's Avatar

12.26.2011 , 01:49 PM | #2
Assuming virtually no competition (true for most items currently) put something on at about the 'default' price. See if it sells. If not, give up. If it does, next time put two or three up and increase the price 10-20%. Repeat if they keep selling. Stop and reduce volume or price if they don't.

The aim is to find stuff that
a) Sells fairly regularly
b) Sells at a decent enough profit to be wothwhile

Abandon everything that doesn't, and build a stockpile of everything that does.

SoNofHuD's Avatar

12.26.2011 , 01:54 PM | #3
Despite the weird sorting mechanics it is still possible to filter searches on GTM. Right now, a lot of the armor pieces I'm selling (mainly purples) are the only similar items on my server. I basically am just pulling an arbitrary number that I think it will sell for that makes a profit. I'm kinda a stat tracking nerd so I have an excel sheet set-up and Im tracking what price things sell for and increasing prices by 500-1k depending on how quick items are selling.

Really depends how much time you want to put into it. Im trying to figure out a formula I can use on the various tiers of items I sell such at Blues, Purples, and Oranges but haven't finalized anything yet.
== wHo-DAT Kardashian ==