Figuring out auction pricing?

[Sakeru_Kyori]

Ok so I just won a Woodland Paint Brush from the Wheel of Extravagance and I want to sell it. So how would I put the prices in the auction thing? I want at least 4.7 Mil for it. So that goes in the first part like that right? Then what is the Min. Increment thing? I didn't actually do this auction yet....

Start price - 4,700,000

Minimum Increment - 1

Auction length - Nine hours

[Angeló]

you could do that

 

or you could put it up for 5k less with a 1k increase ..

 

btw .. many congrats :D

 

i haven't played this one in a long long time

[Sakeru_Kyori]

you could do that

 

or you could put it up for 5k less with a 1k increase ..

 

btw .. many congrats :D

 

i haven't played this one in a long long time

 

 

Yeah but what I'm wondering is what the Min. Increment does. Like after someone bids does the asking price go up however much is in the Min. Increment spot?

[Angeló]

yes ... so the next bidder will have to pay the last bid + (the increment amount)

[Crimson]

For example, if you put

Start price - 3,700,000

Minimum Increment - 1,000,000

 

then the first bid has to be 4,700,000 or above.

 

The next bid must then be 1,000,000 higher than the previous bid...and so on. :)

[Sakeru_Kyori]

Sweet! ^__^ Never done an auction before, sorry :P I must sound really retarted to you guys lol.

[Angeló]

nah it's ok ... no one was born knowledgeable on every thing

 

i learned with trial and error

 

lots of error

 

:D

[Sweetdang]

Just a tip: Don't put it as 1np only.

 

It's even better if let's say you start at 4,500,000, and then put the min increment as lets say... 100k. And then people will bid! Because they want it, it'll take a min amount of two people to get 4.7mil. After that, it can only go higher, and by the 100Ks! :D If you aren't happy with the price, let's say only one person bids, you can get someone else to buy it for you, then repay them the same amount of nps. E.g get someone to bid 10mil, and no one will go above that, cause it's absurd. So they get it, return it to you, and YOU give them 10mil. :)

 

The trick is not to have too high an increment. If people really want it, an extra 100 or 300k above the price is fine, but I doubt an extra 2mil above is price is good for them. :P

 

I think. I've been to the auction house a grand total of once, bid a grand total of once, and put up an auction a grand total of zero times. :P But that's how my mind say's it'll work, so yea. :D

 

BTW: I'm very, very jealous of you. VERY. A woodland grundo is my ultimate dream pet.