The Auction Trap: How not to screw yourself and the economy over!

It has come to my attention, that there are those of you who are unfamiliar with how an economy functions. Prices are collapsing on things that should not become TT food and I am going to do my best to help you prevent that from happening.

It wouldn't be so bad if supply and demand were strictly what was governing the auctions on Entropia... Well... So some degree, I guess it is. But there is something you need to know and realize:

It isn't just Entropia that is having a sluggish auction. eBay is functioning just as badly as Entropia right now. You can list hundreds of items and if one or two sell you are lucky... And it isn't just at market prices, it's even if you slash your prices.

You see... If no one is buying what you are selling, you won't sell it for any price. There is a grave mistake being made in thinking if you price something low enough it will sell quickly. That is clearly not happening. Molisk teeth and buttons have suffered a full 100% slide in the last week or two since Halloween Mayhem started. Why? There just aren't many people using them right now, but all of you molisk grinders are desperate to sell your teeth because loot is so bad. So, what do you do? You post yours for 20 points under the going rate, or even 50 points. The next guy desperate to sell his does the same, pricing below yours which is already ridiculously low. Now, we have the reverse of a bidding war. At some point, yes, people who normally use a bunch of them will start buying them up for peanuts maybe.. But that is a big maybe.

It is ok to undercut the competition by a ped or two or a few percent. But it is reckless to undercut it by a ridiculous margin trying to force a sale. Just accept the fact that if no one needs what you are selling, it isn't going to sell. There are more people after a quick ped, than there are people willing to speculate or gamble on buying cheap stuff to resell later. Why do you think traders like giving 150% for molisk teeth? Because they know even at 200% they will make something on them.

It will take just as long to sell your goods at the lowest price on AH as it will to sell at a ridiculously lowest price on AH. Markup is THE ONLY way you are going to come out ahead in EU. Well... There's a bit more to it than that, but I can't tell you much. Just know that if you can do everything in EU at TT costs, you are probably going to do great in the long run. And yes, after 8 years in the game you learn a few things. And if I were going to share the details it would be in a guide and it would cost you a few bucks, afterall, it takes money to make money.

Just understand that the auction isn't what it used to be. Just like eBay isn't what it used to be. Those people who paid 100's of thousands of dollars for a grilled cheese sandwhich with the virgin mary on it aren't around any more. Those ridiculous things that used to sell all the time don't sell any more. Entropia, is having much the same problem. Ubers are getting pinched by loot, and when the hofs are only about as big as the cost to kill a mob it comes from, you know it's only a matter of time until everyone is in the same boat.

If you are going to sell cheap and quick, filling orders will do more for you than wholesaling what you have to sell on the open auction, and it won't destroy the markup so badly.