I feel like sharing a progress report. I definitely have 2 competitors in my bag market currently. I have been purchasing and bolting netherweave for the last few days. I have been paying around 10-11g for a stack which is what i used to sell the bags for. This has helped keep the price of bags elevated one of my competitors had bags posted at 15g and another at 14g. I had half a tab full of bags made to sell on the AH at the beginning of the weekend. I sold 20 bags for around 13g 75s which undercut my competition by 25s.
Although they are selling i believe my netherweave stock pile is reaching critical mass. My bank tab is getting full and I'm going to have to unload some bags soon. The problem with this is if i don't moderate how many I post there is a risk of crashing the market. Ive also started just bolting the netherweave and storing it for a rainy day.
If i keep my buying up for the next few days i hope to see my competition fall out of the market from lack of cheap cloth and back up stores. Currently cheapest netherweave was around 15g a stack which means the bags will stay high. While their supplies will dwindle then i plan to step in to start selling. One reason i can sit on the mats to make bags and take a hit to the wallet constantly purchasing is because i also work other markets. This means that even if i just stockpile for a while i don't run the risk of going broke cause i have gold flowing in from other markets. BTW I almost hit 5k this weekend but spent a good portion on buying netherweave cloth and Saronite ore. I'm currently sitting at 4,300g not to bad for only 30 minutes of work a day.
Monday, September 28
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I'm also trying to dig up that mine. SO far bags are selling between 8g and 9g per bag, I'm getting mats around 4g, so it leave me with a 4-5g profit / bag. Not a lot, especially I only post 4 bags at a time refreshing / reposting as I have the time to.
ReplyDeleteI don't want to flood the market as it seems that there is already 2 solid vendors in that nice (I've seen them post 35-50 bags at once on a few occasions).
So rather than flooding over them and crashing the price, I prefer to list only 4 have them sold quickly, then relog later on to sell them at my price. Worked fine so far. Each time I log on, my bags have sold and at a 'stable' price. Sure I'm missing some sales, but not that much if I look at how many bags my competitors still have listed :P
Yeh when i post mine i sell all of them while the competitors sit. Im trying to build stock and starve the competition of mats so that i can take over.
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