In the past, I've only began to hit the surface of the implications of the tactics used through this method. That being said, this concepts used also require the most server economy knowledge of all my blog entries thus far. Through this method, I purchased several Volatile Airs for around 15g each and re-listed them at around 19g each, netting a 4g profit per Volatile Air - but that is only doable with the knowledge I have of my servers economy.
In the case of Volatile Air, I have broken it down into several steps to make this process easy to imitate on any server - so long as it's possible.
- (Optional Step) Download Auctioneer and get in the habit of scanning 2-3 times per day. This allows you to database information of all items on the Auction House including average price, median price, number of times seen, etc. While I do think that it helps speed up the time of this process and make it useable for more markets than just the Volatile Air one, it is doable without the addon as well.
- Search for Volatile Air on the Auction House and keep note of the price at varying times of the day (Morning, Afternoon, Evening, and Night). You don't have to actually write them down (unless you'd like to).
- After several days of both scans and special attention to the Volatile Air market, it's time to start getting your feet wet. If you've seen an average price of around 16g, let that be your price floor. From that point on, purchase all Volatile Air you see on the Auction House below 16g and re-list for at/above 16g. This will give you quick feedback to see if the price you have set as your floor is too low or too high.
- Watch your Auctions on the Auction House. If you have the Gold to invest and people start to undercut your listings, buyout all stacks that undercut your Auctions and allow your stacks to be the cheapest available.
- Take a look at the results and adjust. If you attempted to set the price at 16g to no avail (implying that people just continuously undercut you to a point where you could not keep up or simply no one was willing to purchase them for that price), it's time to experiment with lowering that price until you find a "sweet spot" that you can set your price floor at. On the flip side, if the Volatile Airs were selling very quickly and without much trouble at 16g, it's time to start trying to push your price floor to see how much you can profit from your server's economy.
- Depending on your analysis of Step 5, raise or lower your price floor on Volatile Air repeatedly until you can find the most efficient price floor for your servers economy.
The above steps are the exact steps I took to find the "sweet spot" of 17g per Volatile Air on Stormreaver Horde; and, in all reality, this method does take time. Once you've got one market down, however, it's time to move on to another one. That's not to say that you forget about Volatile Air once you've finally honed in on that price you were looking for, but that you now do that and start to expand your eyes to, say, Volatile Fire or Water. The exact same steps can be applied to most all in-demand Trade Goods; and, once you've gotten comfortable with manipulating the Auction House for one market, the transition to subsequent markets becomes a lot easier. It's also assumed that you've managed to amass a bit more Gold in the process, putting you in a prime position to take more risks to learn about potential markets faster - in turn, resulting in a higher profit in the long run.
It's said in real life that time is money. The same goes for Azeroth. Time is Gold, and the quicker you learn to master markets, the sooner you can use that knowledge to your advantage - furthering your market domination and increasing your Gold total exponentially.
I hope this write-up has helped to add clarification; and, as always, good luck!