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Enchanting Mats - Is It Buy Out Time?
I look at the price of Greater Cosmic Essences / Abyss Crystals and I wonder... is it buyout time?
With the release of Ulduar and Arena Season 6, many players will be boasting their new gear with shiny enchants sparkling from every bladed sheet of metal. These enchants cost lots and lots of greater cosmic essences / Abyss Crystals, but will the demand be enough? Also, won't greater cosmic essences just return to their current value or even less after 3.1?
Thanks to blog writers and forum posters like myself, many players have found ways to create tons of greater cosmic essences.
After pondering about buying out Greater Cosmic Essences / Abyss Crystals for weeks I've finally come to the conclusion...
BUY THEM NOW BEFORE IT'S TOO LATE!
Here's why:
3.1 will release and demand for these items will sky rocket, prices will be flying high for a few days before things calm down, but in that time period you should easily sell 100-200 greater cosmic essences. The trick will be to get in early and also get out as soon as possible.
This market is doomed to CRASH seriously hard after the patch, so please understand this before you go off and buy a thousand of these items. Only buy what you believe will sell on patch day, so if there's a greater cosmic essence baron on your server controlling prices, don't expect to sell too many before he cuts you down.
The reason this market will crash is that all players have an innate sense of what items should go for in the game. They recognize unfair pricing and usually react by posting with huge undercuts. It's a foolish business practice but really just human nature. Do your best to prevent undercutting by posting with lower bids but not lower buyouts should someone undercut you by say a gold or two.
Personally I will be posting 25 greater cosmic essences the day of the patch and will then replace them as soon as they are purchased. Same goes for abyss crystals. I am hoping for a 150-200% gold return on investment based on my server and the demand I foresee on patch day.
On a side note, the day after I purchased all these items and created a hole in the market (almost 0 supply but demand stayed the same) I managed to resell 25% of my purchased items for around 250% profit. Not bad and it's not even patch day yet
What happened was something I like to call the selling blues, but I will discuss this in a later post!
Good Luck!
If you're sheepish about purchasing items via buyout in bulk then try this post:
Just My Two Copper: How to Time Your Bids - A World of Warcraft Economic Blog
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