Thanks to Sinshroud's
idea with the [Bold Inferno Ruby]
market. I decided to post about resetting the [Ebonsteel Belt Buckle]
After [Ebonsteel Belt Buckle]
had been listed bellow 200g for over a week (where they're usually between 250-350G price range) i decided to try and reset the market.
The biggest problem i faced was the person who started the downfall of its price, he had been tanking the market with 20+ belt buckle's.
To be honest it was a risky investment, i had no idea how many he had left in his inventory or how much mats he still had left.
By buying everything out i might cause a chain reaction where he will continuously post large amounts of belt buckles for sub 200g.
This is how the market looked before i made my move.
As you can see i had to buyout a total of 42 belt buckles for a total price of 8325g
I immediatly started distributing several buckles to alts so i could post from different characters and make it look like there wasn't one person trying to monopolize the market.
After posting from all of my alts this is how the AH looked, note that every buckle at the AH at that point was mine. Posting at 2 different prices (both the most expensive and the cheapest) from my BS alt to make it look like i'm actually competing against other people. (No idea if this works, but i figure i'd do it as people will more likely post allong the new prices then when they see only a few posted. This to try and prevent people from comming in and think they should heavily undercut it back to the old price.)
12Hrs later the market went down to 499g a piece, At this point i'm happy nobody bumped in and posted a whole bunch for a very low price.
After a few days the market continuously went down to the price I feel is a good price, 250-300g, and where it will stay thanks to supply-demand.
Now exactly 1 week after i originally reset the market i've sold 37 out of the 42 buckles i bought, making a total of 10373g.
And after one week the market has stabilized to this:
Would i call this a succes?
Time will tell, if prices stay this way then it definatly was.
Not only have i managed to sell nearly everything i had to buy out, i was able to sell them for an average of 80g more then i bought them i also managed to restore the prices back to where i feel they're worth crafting/selling.
With 5 buckles left to sell and a total of 10373g of what i've sold so far i managed to make 2048g profit and i still have 5 buckles left to sell before i have to craft anything.
If i forgot to add anything or you have questions about what/how/why feel free to ask them.