How to Make the Most of the Diablo III Auction House

For the first time ever a game has included a way for its players to earn real money by selling their digital gear at the real money auction house. If you've been playing games for any amount of time you are familiar with the auction house concept. Games such as World of Warcraft, Rift, Guild Wars and almost all other MMORPGS (massively multiplayer online roleplaying games) have been using the Auction House system for years to allow players to buy sell and trade items and materials between one another. Blizzard's previous game with an auction house, World of Warcraft, ended up having a problem with gold farmers who would create bot routines and farm piles of gold to sell for real money off of websites. This process of buying gold from third parties not only destroyed the economy for the players who were following the rules, but also took away from the achievements of players who actually spent the time to collect their fortunes.

Blizzard's approach to staving off this problem with Diablo III was to include a real money auction house where players can buy and sell items for real world currency. There is even an option to purchase gold in game, legally, which means that third party gold farmers are going to either be forced to sell their currency through the provided Diablo III system or they will have to compete with lower and fluctuating prices from the game's system. This also provides Blizzard a way to earn money from the game beyond the $60 it costs to purchase. In my opinion it will also keep people coming back to the game to play for the hopes of selling an item or two for $250 and earning a paycheck from Blizzard. People who cash out their Blizzard accounts can choose to do so via PayPal but will be charged a 15% tax by Blizzard. Some people are upset by this tax, but if such was not the case the amount of transactions being performed from blizzard account to bank account would be enough to crash servers.

So how do you earn money on the Auction house? You can spend hours upon hours farming the game for great items and selling them for prices that will move quickly. This is definitely viable and the only overhead you have is the time required to get those great drops. For some of us we want the quick and easy approach, though, and for that I highly recommend learning how to become a "Diablo day trader." As of writing this article there is still no set price on gold on the auction house. However eventually you'll be able to quickly and easily see the real money price for 100,000 gold. This will be the base of your profit system. If you need to create a spreadsheet or download a pre-built one from the web.

The next step is to simply find a few items that you know sell for a good amount. Then what you will do is, keeping in mind the real money conversion rate, search on both the real money and gold auction house for those items. You are looking for items that will sell for more then what you paid for them on the opposing auction house. For example, if you find a rare ring that is selling for $15 on the real money auction house and then check the Gold auction house and see that the same ring is selling for a minimum of 1.5 million gold then you might have the potential to earn money. Take a look at your gold to currency conversion rate that you already checked. If 1.5 million gold is worth more then $15 then you are making a profit by buying that ring and selling it for the gold. You could easily turn around and sell the gold made for real currency. You must keep in mind the tax rates for both selling an item on the gold auction house and for cashing out!

Another way to turn a profit on the auction house is by sniping auctions that are set with no buy out price. A lot of players are looking for the quick and easy solution so they don't wade through hundreds of pages of auctions with no buy out price set. You can frequently find mediocre to great items being sold for well under their value. I have found items on the gold auction house being sold at a starting bid of 500 gold and no one bids until the last minute. Its easy to snipe these auctions and then post them for a more appropriate price that will still sell fast. I always price my items to sell fast instead of going after the higher price rungs. Its more rewarding and I can sell more items quickly this way instead of having 10 items in my auctions list that just sit there and force me out of the buy and sell game until space frees up.



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