Currently I am purchasing netherweave cloth in large quantitys and crafting bolts. I am doing this begin expanding my pressence in the bag market. Recently I dropped out of the market due to undercutting bringing the profit margin down to 1-2g. I sold my stock then let the other players have free reign content with my daily transmute and bid low sell normal income. Recently though I have felt the urge to re enter the bag game and push bag prices higher.
I plan to purchase netherweave for the next few days with 10g being the max that i'll pay for a stack. Keeping the supply of cloth low will allow me to end the rampant undercutting. This happens because the other bag makers will not have access to more cloth to continue undercutting eventually their stock will run low and prices will rise. I estimate that if i can keep netherweave cloth supplies low that in 5-7 days bags will raise to around 15g-16g. At this point i will slowly introduce bags int othe market. while doing this ill continue to keep netherweave cloth supply low . Hopefully this will drive out some of the smaller competition and allow me to sell my bags for 4-8g profit.
Monday, November 9
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I have been buying up the cloth for the last week and have over 1500 bolts on a bank alt.
ReplyDeleteThe problem is the netherweave cloth keeps coming in! Heaps of it too.
My comp are still making bags for around the 8-9g mark. I'm buying all the cloth under 9g twice a day.
I've been listing the bags for 15-18g. The funny thing is they are selling, even with the other competition.
Cameron
I'm also trying this as of about 5 daus ago, and checking back here to see how others are doing. It's a nice "smallish" expeirment. I find that I'm also frustrated when cloth keeps getting posted, as I'm beyond the point of needing it(at 9g at least...lol). I'm not buying over 9, but my big sellers have mostly pilled on the cloth at 10 and higher, attempting to take advantage of the inflation. I'm worried that this won't last long though.
ReplyDeleteSelling bags well at about 13.5 so, so far so good here as my back-stock is not out of control (yet). Not a lot of (attentive) competition atm.