Celtic Heroes

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Re: Your quick guide to being a merchant

#61
1. Buy 4 less, sell 4 more
2. Be polite
3. Make a price that you will not go above or below when buying and selling
4. Say thanks after if you ever trade again
5. RKO them outa know where just for kicks
:lol:
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Re: Your quick guide to being a merchant

#62
As the post above but also

1) Friend every single person you trade with, even if they don't buy. This helps them locate you when they want to buy again. It's invaluable for bringing customers and helping word of mouth business. (This causes a lag bug in the mail system once you go past a page or two but i hear it's being addressed at some point - still worth it).

2)Always offer a refund if its done within a reasonably short amount of time (i would do it from a few hours to a day). This is great because as a merchant the last thing you want is customers with buyers remorse. Surprisingly I've had to refund very few items but this helps customer satisfaction and can help sales with "well if you do find it for less in a day I'll buy it back for the same price" which helps close the deal.

3) try to make a single toon (if you have multiples) the front for your merching. It helps simplify things.

4)Buy low if you can, but do not do it in a way people feel they have been taken advantage of and sell for a medium to medium high price. This is especially important if you are trying to move a larger volume of items. Setting the sale price too high reduces the number of sales and can hurt your total bottom line. Instead seek to maximize your profit per day not per item.
Member of Aeon - Taranis - 24 boxer
220+ toons
Ravenleaf druid - Silverstring ranger
Stormsong warrior - Nwerb Mage - Eventide Rogue

Toon histogram:
Level_____|200+|150-199|100-149|50-99|20-49|1-19|
# of toons|_5__|___16___|____3___|__11__|__21_|407|

Re: Your quick guide to being a merchant

#63
As the post above but also

1) Friend every single person you trade with, even if they don't buy. This helps them locate you when they want to buy again. It's invaluable for bringing customers and helping word of mouth business. (This causes a lag bug in the mail system once you go past a page or two but i hear it's being addressed at some point - still worth it).

2)Always offer a refund if its done within a reasonably short amount of time (i would do it from a few hours to a day). This is great because as a merchant the last thing you want is customers with buyers remorse. Surprisingly I've had to refund very few items but this helps customer satisfaction and can help sales with "well if you do find it for less in a day I'll buy it back for the same price" which helps close the deal.

3) try to make a single toon (if you have multiples) the front for your merching. It helps simplify things.

4)Buy low if you can, but do not do it in a way people feel they have been taken advantage of and sell for a medium to medium high price. This is especially important if you are trying to move a larger volume of items. Setting the sale price too high reduces the number of sales and can hurt your total bottom line. Instead seek to maximize your profit per day not per item.
This is the strategy if you are merching a lot of items. Step 2 especially is key to get someone who is not sure to buy. Maybe I should use this to keep you from sellers remorse of dat fork of yours. jk :D Seriously though, all these steps are very important if you want to sell a ton of items. :)
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level ---- Hybrid mage - taranis
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Re: Your quick guide to being a merchant

#64
As the post above but also

1) Friend every single person you trade with, even if they don't buy. This helps them locate you when they want to buy again. It's invaluable for bringing customers and helping word of mouth business. (This causes a lag bug in the mail system once you go past a page or two but i hear it's being addressed at some point - still worth it).

2)Always offer a refund if its done within a reasonably short amount of time (i would do it from a few hours to a day). This is great because as a merchant the last thing you want is customers with buyers remorse. Surprisingly I've had to refund very few items but this helps customer satisfaction and can help sales with "well if you do find it for less in a day I'll buy it back for the same price" which helps close the deal.

3) try to make a single toon (if you have multiples) the front for your merching. It helps simplify things.

4)Buy low if you can, but do not do it in a way people feel they have been taken advantage of and sell for a medium to medium high price. This is especially important if you are trying to move a larger volume of items. Setting the sale price too high reduces the number of sales and can hurt your total bottom line. Instead seek to maximize your profit per day not per item.

this sounds decent how much have you made off this strategy? and out of 10 buyers how many refunds do you do? also are they small refunds or large ones?

Re: Your quick guide to being a merchant

#65
this sounds decent how much have you made off this strategy? and out of 10 buyers how many refunds do you do? also are they small refunds or large ones?
Definately over 10m as I have been playing over 2 years. Because of my pricing I don't even have to do one refund every 10. It's more like 1 in 20 or 30. Well worth it though every refund gets you a better reputation. I've refunded items unto about 500k but it's never really been a problem I just sell it to someone else.
Member of Aeon - Taranis - 24 boxer
220+ toons
Ravenleaf druid - Silverstring ranger
Stormsong warrior - Nwerb Mage - Eventide Rogue

Toon histogram:
Level_____|200+|150-199|100-149|50-99|20-49|1-19|
# of toons|_5__|___16___|____3___|__11__|__21_|407|

Re: Your quick guide to being a merchant

#67
this sounds decent how much have you made off this strategy? and out of 10 buyers how many refunds do you do? also are they small refunds or large ones?
Definately over 10m as I have been playing over 2 years. Because of my pricing I don't even have to do one refund every 10. It's more like 1 in 20 or 30. Well worth it though every refund gets you a better reputation. I've refunded items unto about 500k but it's never really been a problem I just sell it to someone else.
Oh ok cool and definitely a respectable amount 10mil is a yuge(Donald trump style) number. Congratz bud is this your main form of income?

Re: Your quick guide to being a merchant

#68
this sounds decent how much have you made off this strategy? and out of 10 buyers how many refunds do you do? also are they small refunds or large ones?
Definately over 10m as I have been playing over 2 years. Because of my pricing I don't even have to do one refund every 10. It's more like 1 in 20 or 30. Well worth it though every refund gets you a better reputation. I've refunded items unto about 500k but it's never really been a problem I just sell it to someone else.
Oh ok cool and definitely a respectable amount 10mil is a yuge(Donald trump style) number. Congratz bud is this your main form of income?
It's probably been quite a bit over 10m profit on just buy/sell not total volume, I just never kept track. Most of my income used to be merchant, then went to farming/selling items and some buy/sell merching.

I can make quite a bit more gold now farming directly, but this might change with an auction house. Also I've slowed down on selling anything as I play 30 some toons so everything pretty much goes into the army armory.
Member of Aeon - Taranis - 24 boxer
220+ toons
Ravenleaf druid - Silverstring ranger
Stormsong warrior - Nwerb Mage - Eventide Rogue

Toon histogram:
Level_____|200+|150-199|100-149|50-99|20-49|1-19|
# of toons|_5__|___16___|____3___|__11__|__21_|407|

Re: Your quick guide to being a merchant

#69
Thought its a timely point to add that the absolute BEST time to merch is the day before to three days into a new event. People will be desperate to sell perfectly good items to get the new shiny stuff.

so many people wait and all sell at the last second the market is glutted with far too many sellers and few buyers. Desperate to sell they will sell to you for the vendor price or slightly above which is a no risk to low risk buy. I've even had people sell under the vendor price because they have no gold to use the vendors that buy at full buyback price and are far far far too impatient to wait till they do get the gold. They want instant gratification and you want to merch, it's benefical to both of you.

Prices of the new items are astronomical in the first few days, if you open chests and get a rare its a prime time to sell.

Overall it's key to have a large pile of gold going into a new event as a merchant.

If you are noob and want in on making money, if you farm the event fashion / item quests hard you can make awesome gold in the first few days, doubly so if you are lucky. On my world people were paying up to 20k a foxglove, for example, which is a huge amount to a level 10 or even lvl 50.
Member of Aeon - Taranis - 24 boxer
220+ toons
Ravenleaf druid - Silverstring ranger
Stormsong warrior - Nwerb Mage - Eventide Rogue

Toon histogram:
Level_____|200+|150-199|100-149|50-99|20-49|1-19|
# of toons|_5__|___16___|____3___|__11__|__21_|407|

Re: Your quick guide to being a merchant

#70
Thought its a timely point to add that the absolute BEST time to merch is the day before to three days into a new event. People will be desperate to sell perfectly good items to get the new shiny stuff.

so many people wait and all sell at the last second the market is glutted with far too many sellers and few buyers. Desperate to sell they will sell to you for the vendor price or slightly above which is a no risk to low risk buy. I've even had people sell under the vendor price because they have no gold to use the vendors that buy at full buyback price and are far far far too impatient to wait till they do get the gold. They want instant gratification and you want to merch, it's benefical to both of you.

Prices of the new items are astronomical in the first few days, if you open chests and get a rare its a prime time to sell.

Overall it's key to have a large pile of gold going into a new event as a merchant.

If you are noob and want in on making money, if you farm the event fashion / item quests hard you can make awesome gold in the first few days, doubly so if you are lucky. On my world people were paying up to 20k a foxglove, for example, which is a huge amount to a level 10 or even lvl 50.

I agree with a large stack of gold I keep around 30milish gold on me. Fash can also skyrocket but it depends tbh it's a bit trickier picking the right ones

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