First understand the product you are selling:
Then understand how you will sell and price:
For fast selling goods the boards tend to be quite active. You can try and drop your price but likely you will be undercut, or pitch your price such that after some time those below you will be bought out and it will be your turn. I also find that the price on these goods varies wildly over the week, and takes a huge drop at the weekend.
For slow selling goods you have to just stick it out, and consider if you want to match someone undercutting you for the sale. Provided I am still making a healthy profit I will generally drop the price to just below the other's.
Price for competition is a bit more than undercutting. provided the goods are selling at a reasonable rate you don't have to undercut everyone. Look at the spread of prices, quite often there are some very high ones, some mid range ones and then some low ones where the price cutting churn is going on. Consider pricing to undercut the mid range ones but be above the low low ones fighting it out. I often find that the low price items sell out and the price resets to the mid range over night (or at least in a couple of days) and you sell at the price you are happy with.
Stacks, or mass production offers you more choices. Selling as a single that is more expensive than the stacks works when buying just one of those items makes sense, and this is especially good for high cost items. Selling a stack of a useful number to match a hand-in, or usage, it makes it affordable and convenient. Selling a large stack and undercutting the smaller stacks makes it easy to those who don't care so much about gil.
Consider who is buying and why. Just be aware of things in the game and what drives demand. Events that hand out new gear can lead to a rush on glamor as well as clothing that matches well with those given out or that match the season. The Expansion will see prices of certain good rise quite a bit, have a think what they might be. Even RP events such as balls lead to increased activity on certain clothing items.
After all that it's really watching the board for what sells and adjusting to suit, along with a lot of patience. Remember it is a buyers market and being undercut is just the nature of things.
- How much does it cost to make
- How much could it sell for (high & low)
- How active is the market for it
- Making an excessive profit - often on rare hard to craft & high cost goodsÂ
- Making a reasonable profit - where most of the things you sell will be, but this can still be cost x10
- Selling to recover what costs you can - probably because the market collapsed
Then understand how you will sell and price:
For fast selling goods the boards tend to be quite active. You can try and drop your price but likely you will be undercut, or pitch your price such that after some time those below you will be bought out and it will be your turn. I also find that the price on these goods varies wildly over the week, and takes a huge drop at the weekend.
For slow selling goods you have to just stick it out, and consider if you want to match someone undercutting you for the sale. Provided I am still making a healthy profit I will generally drop the price to just below the other's.
Price for competition is a bit more than undercutting. provided the goods are selling at a reasonable rate you don't have to undercut everyone. Look at the spread of prices, quite often there are some very high ones, some mid range ones and then some low ones where the price cutting churn is going on. Consider pricing to undercut the mid range ones but be above the low low ones fighting it out. I often find that the low price items sell out and the price resets to the mid range over night (or at least in a couple of days) and you sell at the price you are happy with.
Stacks, or mass production offers you more choices. Selling as a single that is more expensive than the stacks works when buying just one of those items makes sense, and this is especially good for high cost items. Selling a stack of a useful number to match a hand-in, or usage, it makes it affordable and convenient. Selling a large stack and undercutting the smaller stacks makes it easy to those who don't care so much about gil.
Consider who is buying and why. Just be aware of things in the game and what drives demand. Events that hand out new gear can lead to a rush on glamor as well as clothing that matches well with those given out or that match the season. The Expansion will see prices of certain good rise quite a bit, have a think what they might be. Even RP events such as balls lead to increased activity on certain clothing items.
After all that it's really watching the board for what sells and adjusting to suit, along with a lot of patience. Remember it is a buyers market and being undercut is just the nature of things.
Char:Â [Nebula Stardancer] Â FC: [East Eerie Trading Co]
Link Shells: [Hugs & Cakes] Â [Witches' Wyrd Web]
