Definitions for this post:
- threshold is that price that you are willing to sell an item (glyph) (If you are not willing to sell at your threshold - then it is too low)
- fallback is that price you want to sell an item (glyph)
These definitions apply regardless of the tool you use to post auctions and regardless of the numbers you put into those tools.
I will cope with 'my' market going below my threshold and hence being knocked out of it. What gets me irritable is the constant sniping where other scribes are obviously prepared to sell for less but try to maintain an overpriced market.
So: I asked the other scribes where their thresholds are : That cheapest point where they are still willing to sell glyphs. I did not however ask them personally. People lie or simply do not really know what their threshold really is (and I am not- I used the AH for that. The answer was that the fiercest of the competitors was prepared at the time to log out at 18g.
Since then they have reconsidered their positions and decided that they really can do glyphs for 15g. That makes sense to me: Even buying my herbs I price the most expensive glyphs around 6-8g each in mats; so 15g is double that. For farmers (both the herb and inferno ink milling variety) that place zero value on their time or byproducts their 'cost' price is even lower.
Sometimes a competitor wants some (or all) of your market. If you wish to 'own' a market at any cost; you will need a low threshold. If you are willing to work for your threshold for longer than your competitor is; you can own it. Nothing personal; the competition is simply working for their own interests to get the best they can for themselves. In trying to own the market - for them - you are the competition doing the same thing.
Anyone can have a 'sale' below their long term threshold. Sometimes the results of that sale can make you reconsider what your threshold should be. Sales can drive competition out of business. In WoW where players can have many alts with different skills, we can put a business section on ice, to be brought out when prices rise back to our real thresholds.
I showed the market that 14g 50s per glyph was achievable. In turn it showed me that people's belief was that their thresholds are actually lower. There are several players all scrambling to post glyphs at the 14g.
|Names hidden to protect the guilty|
Players can set their threshold wherever they like and can afford. They can post as often or as rarely as suits them; I have little direct influence over their behaviour.
What I can influence is setting the price in such a way that maximises my total earnings. Failing that I can ensure that the heavily fought over glyphs that will be immediately undercut are below my threshold, so I they don't consume my time collecting unsold auctions.
I made more horde glyph profit in 24 hours by crashing the prices than I had in the previous month. The market has decided that for the majority of glyphs the price really should be 14g. I merely showed scribe the water; they chose to drink from it.
However, if you want prices to rise, you have to let them. Yes you will miss out on a sale and will no longer 'own' the market. Set your threshold closer to your fallback (i.e. where you want to sell glyphs); get it right and you will in turn make more gold.
By then raising the prices I again make more profit. Apart from when I crashed the glyphs, this too represented more profit than I had for many days.
|Profit at last|
I got these prices by walking away from the market for 3 days, letting others work themselves into a frenzy to defend 'their' patches and forgetting (or not being able to) re-craft replacements.
P.s. for those that are wondering - yes I am using my blog to talk to competitors. However this conversation applies to most realms and factions.