Now that I'm finally digging into MoP, I wanted to post today about Living Steel. Thanks to Mike (@MSherretz) and Cold (@SSmith0911) from the Auction House Junkies podcast for letting me in on the Living Steel trick. Because I'm well late to the party, I won't sit here and try and explain the process for Living Steel but it's pretty simple. Ghost Iron Ore>Ghost Iron Bars>Trillium Bars>Living Steel on CD with each transmute spec Alchemist you have. (I have four!). With that out of the way, I want to get to the meat of the subject, the Living Steel market it's self.
Two days ago, my Living Steel Market was at a solid 700g per unit and moving as quickly as things were being listed. When I came home yesterday after the patch, my auctionator informed me the price had dropped to 500g. My first assumption was well, Ore must have came down in price, and I almost went ahead and listed anyway. However, I decided I'd take a look and see what was going on. Upon review, the majority of the market was still hanging out at 688g. However, one seller had listed three bars and dropped his price to 550g, while the other had undercut him even deeper with 4 bars at 500g. Rather than following the downward trend, I decided I would stop it and make a profit with it.
Knowing how much demand out weighs supply right now and how fast these bars are moving, I quickly bought out all 7 bars, and relisted them, along with the 5 I had just made (Hell yea, LS Proc!). I worried a bit at first, but two hours later, all 12 bars had sold for the 688 price that I listed them. So on top of the profit made from just using my transmutes, I made an additional 1166g by simple moving the market back in an upward direction.
Long story short, Living Steel has a gated supply. There is no reason at all to lower the pricing. This is one of those examples, that even if you list higher then the lowest item the demand will buy back into your price bracket as well. Be smart with what you're doing, especially at this point in the expansion. Markets are volatile, but Living Steel is a great example of being able to ride a market upward.
When Markets Attack! [Link]
7 hours ago