Of course, use Auctioneer.
I don't produce anything. I just buy low and sell high. I only work in trade goods and only in raw materials. Primarily ore, bars, and herbs, and some cloth.
It's taken me the last two weeks to figure out which items are profitable and which are not. I've found that middle level (lvl 30-60) herbs, ore, metal and cloth are the best sellers. I try to watch for when the AH gets flooded with something, buy it and hold onto it for a week or two and then sell it when the supply evens back out. Sometimes it works and sometimes it doesn't.
I have my Appraiser set up as follows.
Minimum cut of 25%
Maximum markup of 40%
I never buy above 60% market value unless I'm buying out a few in the 60-100% range so that I can list at 100% market price. I avoid things that have a very high presence because the price is likely going to be dropping for a few days. I find Khorium bars make me a TON of money very often.
I tend to avoid some of the high end lvl 70+ herbs and ores. Their deposit prices are generally higher than I'd prefer. I recycle A LOT of un-successful auctions. I make up for it in bulk. I almost always have 200+ auctions up on the AH.
In 4 words. Buy low, Sell high. Just have to figure out what makes money.
Oh, and coverting things. I made 500g this weekend converting fel iron ore to fel iron bars and selling them. Done similar with knothide leather scraps which seem to go WAY cheaper than knothide leather. Even after tipping the blacksmith/leatherworker to convert like 20 stacks for me, I still make bank.
http://www.youtube.com/watch?v=EVBsypHzF3U <----- No penis
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