Today we are going to be looking at one of the great ways to obtain items at awesomely low prices, and as you might guess from the title i am talking about bidding on the auction house.
The reason why i called this a dying art is because it is kind of a thing that stuck around from Vanilla and to a degree from TBC where gold was much more valuable, what i mean by this is that back then everyone was trying to get more gold ( higher buyout price ) but were happy to get a normal price for it as well even if it meant waiting a bit for it ( normal bid price ).
As you might see on the image above, the price that we see in green is the bid price and the one in red is the buyout price. The difference between those two is about 50% and that is where this gets to be a sweet deal. When i saw this pricing it had the same pricing structure as a normal auction has where the bid price is normal and the buyout price is above the normal price range ( as you can see at 142% price ), but unlike this guy you will find countless others that don't know what the bid system is for, and those are the people that will make you thousands of gold in easy profits.
As i said there are many people out there that don't realize how the bid system is supposed to work so you will see auctions with a buyout price at 5000g, and then the most ridiculous 100g bid price next to it. It is auctions like this one that will put a smile on your face every time you see them. But like all good things there has to be a drawback at using this strategy and in this case it is the wait time that for some reason the majority of the people choose to go with the 48h post time.
Now even though 48h is a long time you don't have to wait for it because you can simple browse the auctions by time left. This is actually the core of the strategy because all you need to do is go to the AH and check for prices that are posted with a low bid and a short time remaining on them and simply put your bid down. The best thing you could do is to bid on multiple items due to the fact that there will be other people doing this same thing as well and you might get overbid on some auctions, that is why it is best to look at this as a fishing net, the bigger the area is that you threw the net in ( the more items you bid on ) the higher the chances are that you will actually win.
One of the best deals that you can find with the bidding system is in the Transmogrification market where many of the people do the mistake of posting their high value items for 10g bid prices and 8k buyout prices. And when you buy an item for 10g and then flip it for 5k, that is when you feel awesome.
One last thing, after you are finished reading this and you might think "Meh i already knew this" do yourself a favor and check your auction house and i am sure that you will find deals that are staggering.
So, like always, keep an eye out for good opportunities out there.