That price could be sales.
“You’re crazy Mogul,” I hear you shout through your platinum-plated sapphire-studded megaphone, “I’m selling plenty of stuffz! Look at all my goldzz. Look at mah hog!”
Oh but are you? The less competition you have the more you creep your product prices up – and the less likely you are to move that product.
Here’s an example: Cobalt sets are a must have for all 70s plate-wearing tanks. I stock these and they sell. The demand is constant but not high. I stock two of each piece of the cobalt set at all times. For those of you who don’t BS here’s a breakdown:
So what price do we sell these at? Okay, here’s where it gets a bit fuzzy. Put yourself in the shoes of a level-70 tank. Assume they don’t have your financial backing, assume it’s a standalone toon.
WOW, it’s cool in here… strategies, weapon skills, situational awareness, a neurotic concern for keeping my healer alive – umm… a bit dark – but roomy! Focus Mogul – hone in on the issue at hand… I’m excited about tanking Wrath instances – goood – and I’ve got some gold – excellent! – do I want to pay 900g for a tanking set I’ll replace relatively quickly – No! – for a full set I’d pay a max of 500g I reckon. It’s not too crippling and I can get tanking NOW which is what I want.
Now I like price-gouging just as much as the next guy and when demand is high it has its place. But there is great opportunity over the next 6 weeks to move product with little competition as periodic posters fade out running up to Cata. Price like you were going to buy it and you’ll catch the “charge of the alts” and move more units and make more profit overall then you have in a while.
Stay liquid guys,