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Monday, February 14, 2011

Creating Your Market

Have you ever had an item that you knew was worth something but you just couldn't move?  While others were cutting and vendoring old gems with their capped Justice Points these past several weeks I decided I was going to go a different route.  I ended up with about 45 Primordial Saronite at the end of it all.

My intent was to make a very long term investment.  Even without any extra rewards people like myself still go back several expansions later and make Sulfuras, Thunderfury, etc.  I know the same will be true of Shadowmourne and the interest in that will be even higher for as long as the "vanity items" like the mount and tabard remain available.  My intent was to hold onto any Saronite I had available to me for possibly over a year until everyone had forgotten about JPs and Saronite. Then I'd sell them for 100-300g a piece; not tons of gold but still, more than I could make vendoring. Plus I just like the idea of having old materials on hand. (Go ahead, ask me about my Sunmotes.)

I had gone into this knowing this was a long-term investment, but was curious about how I might one day unload these; I doubt some bosses like LK and possibly Putricide or Valithria would ever be solo'd, so the future demand for these items would be largely dependent on if people continued to run ICC 25.

Enter the plan.  I've put together a weekly ICC 25 HM/Meta achievement run on my server which surprisingly had a full 25 this past Saturday and we'll be going again on Saturday. Now, the intent wasn't actually to create a Saronite market, I actually just want to finish my Shadowmourne and my meta achievement, possibly get a Light of Dawn kill, and spend more time in ICC. (You read right: I want to spend more time in ICC. I liked it!)

This has had an interesting side-effect though. I have artifically created a market by creating a demand that wasn't there before.  Before pretty much no one would go looking for Saronite.  Suddenly, though, every week we run there will be someone who needs 25 Saronite, assuming we make a Shadow's Edge every week.  I've actually decided not to sell my Saronite but to instead donate it to completing Shadow's Edges for those that run with me; I'd like to give more to the raid.  But it got me thinking.  


No one was sitting at home last October thinking "God, if only there were something in game, some sort of mysterious card; perhaps one with a fortune on it upon which I could blow all of my gold."  What actually happened was someone saw the item and wanted to cash in, knowing there would be a market if only people knew about it.  That person created the knowledge of the product by barking and advertising and a demand for the item; thus they created the Mysterious Fortune Card market.

Just because an item isn't selling does not mean it is worthless.  Certain items may have been "forgotten" but still desired, such as Rituals of the New Moon. Not many will probably go seeking this out, but if you inform people there's a book that turns you into a wolf and people become interested you've created a small demand for your product and a market begins to emerge.

If you have an item that's not selling but you think there may be interest in it you must expose your target audience to the market.  Create a demand for Primordial Saronite by facilitating people building Shadow's Edge; drum up interest in shapeshifting items by advertising in Trade, get people laughing at your Potion of Illusion or focusing lenses by using them during peak hours in popular hangout spots like Orgrimmar or Stormwind.

Do you all have any items you have to drum up interest for in order to sell?

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If anyone's interested in getting involved with the ICC 25 run check it out here.

Youtube has been causing me serious issues today; there likely won't be a Faidian Slip this week.  If Youtube continues being a real pain I'll look into making some sort of Podcast, though I've never made one before. (Feel free to share any information/resources you have!)  Until Faidian Slips are back up and running I will instead be trying to put out a more-insightful-than-usual post on Sundays in its place. =]

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3 comments:

  1. Having recently found a few recipes from world drops I have just started trying to sell a few of the origami items made with inscription. So far I have the origami rock and origami slime.

    As so few people know about these items (on my server at least) it often takes several whispered explanations each time I release a heap of slimes in the center of Stormwind. I've been seeing sporadic sales which will hopefully grow into something more down the track as people begin to learn that these items exist.

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  2. I have sold so many potions of illusion by just using them myself in the middle of Stormwind. It still amazes me how many players have no idea that this potion even exists. It is so much fun to use. I only wish it lasted longer than 2 minutes. But it has been a steady gold maker for me.

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  3. Hey! I didn't know I was part of you plan!

    But that's okay, it's a fine plan. Respect.

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