Quote:
Originally Posted by Torik
[You must be logged in to view images. Log in or Register.]
This is the business model I try to run with and it has served me well. When I have the opportunity to buy an item well below the EC average, I do it and I price it at the low end of the EC tunnel price. This allows me to sell the item quickly, and reinvest the pp I made into other items.
For example, a few weeks ago I had the opportunity to buy a Skyfury Scimitar for 3k. I put it up for auction and relisted it at 4k (well below the EC average). Another reseller bought it from me an hour later and immediately put it up for 5k. It took him two weeks to sell it after lowering the price to 4.8k. I made 1k off the investment in one hour. It took him two weeks to make 800pp.
In that two weeks I was able to reinvest my earnings and more than double my 1k profit. I wonder how long it will take the other reseller to double his 800pp.. maybe another two weeks?
|
Exactly... everyone wins. The person selling gets to sell quickly and leave tunnel, you get to make a good profit on resale, and the buyer of your item is thrilled at the cost below market and will remember your name. People remember gougers names too, but for other reasons lol... that's why they have to keep cycling toons. Idk why they can't see that an honest, friendly approach is better for their bottom line as well. Oh well /shrug