Finally! I broke the damn RMAH ice and made a sale. I was beginning to believe that no one actually bought items on the RMAH and that everyone who I've been talking to about making money in Diablo 3 had been playing a huge joke on me. Now, I've got a renewed confidence in the game and am going to see how I can expand upon my one GIANT $1.99 sale.
Here's what sold and how I sold it...
I've been experimenting in several markets on the gold auction house, primarily for Barbarian gear because that's the class that I know well. I use a bidding strategy to try and scoop up deals for gear that I know will sell quickly if priced right - so I normally have a lot of gold tied up in bids. What I'm trying to do is build up my gold supply so that occasionally I can invest in an item on the GAH to flip and sell on the RMAH. I've heard of players getting as much as $20-$30 per million gold spent on the gold auction house in real money when they sell items on the RMAH - but I know that number is drastically dropping.
Right now my stash hovers between 2 and 4 million depending on how many bids I have going. I'm spending a little bit of my gold investing in a long term strategy (that I'll write about once I figure out if it will actually work) and then I also have been keeping an eye out for items that I think would sell on the RMAH and are in my price range. That's how I found the item that I sold last night.
I was looking through level 60 Barbarian shoulders with 100+ Vitality, 100+ Strength, and any Resist to All. I found a low (ish) bid on a really nice piece with 150+ Vit, 140 Strength, 30 Resist All, and 16% Magic Find. I scooped it up for about 400K gold. I tried to sell the item a few times on the RMAH for $10.00, then $5.00...then I dropped it to $1.99, which is where it sold. Now, I know that the gold to money ratio isn't that great on it, but the concept that I learned from this sale is valuable - items with high quality stats will sell on the RMAH if the price is right.
I had the money go to my Battle.net balance to avoid the high pay pal fee. My idea is to build up a little balance in my Battle.net account and then use the money in that account to bid on/buy high cost items that I know will sell and re-sell them to cash out through Pay Pal. I'd like to find a bunch of small markets where I can flip items like the shoulders and build up a nice little revenue stream.
For now - I'm working on getting to level 60 so that I can start building my farming set. I'm level 55 and can just about taste it! Now I've got about 45 minutes before I need to get ready for work - level 56 here I come!