A look at how supply and demand influences World of Warcraft in game pricesModern Finances Azeroth Style

You're a human paladin standing in your bank vault in the bustling city of StormwindThe shelves surrounding you are full of various weapons, armor, potions and other miscellaneous items that you have picked up throughout your many journeys and battles across the lands of Azeroth.

All of the items that you use day to day, you tend to carry around with youSome of the things you are storing in the bank are useful to you at times, so you keep them where they are safe knowing you can retrieve them when you need themHowever, the majority of what litters your vault you have no personal use forWhat is a Paladin to do?

The Auction House

It's time for a little house cleaning and to earn some extra World of Warcraft goldSo, like the trusty paladin that you are, you gather up your various things and head down to the local auction houseNow, since you are a well seasoned paladin, you know that the first thing you need to do is scope out your competition.

So you walk around the Auction house and check out the prices that other people are charging for the same items that you want to sellOnce you get a good feel for the market value it is then time to set up shop

The Three Marketing Approaches

If you're a paladin with a bit of a rough edge to you, you might take the items that you have for sell and undercut your competition by a few wow goldAlthough this strategy will guarantee that your item sells the fastest, you might make a few enemies because if enough people lower the price, then the market value will drop in timeYou have the power to drastically effect the economy.

Now, if you are the run-of-the-mill straight laced kinda paladin, you might want to consider selling your item for the mid to low range that other people are selling them forYou may not make your money right away, but it eventually will sell and no one will throw rocks at you as you walk by.

The third strategy is for people who are not in any hurry to get their moneyThis strategy is all about controlling the supplyYou sell your item for the high end of its price rangeUsually you will have to wait for the other vendors to sell out of their stock, firstThen once they do, your item will be in demand

An addition to this strategy is to find something that has more demand than supplyThen work out a way to accumulate multiple of that itemHowever, even though you will have multiple of the item, you will only sell one at the auction house at a timeBy doing this, the average market price for that item will sometimes even steadily creep up.

The Down Low

The players in World of Warcraft have a lot of influence over the economy and market prices of wow gold and other wow itemsIf enough people sell a particular item at a lower than normal cost, that price will become the normSo, the bottom line is, you can just run through the regular game mechanics and sell gold that you get from your kills to the npc merchants and slowly gain gold that way

However, like the paladin, if I were you, I would spend some time learning the ins and outs of the auction houseIt's fully automated and you don't have to be online for your wow gold or items to sellThe wow economy is made for you the playerTake advantage of it