Right now with the launch of WOTLK prices can be quite volatile. While Auctioneer has a great resale function when market prices are stable, many items are rapidly changing in value, which can invalidate this. Instead, I'm doing this by hand, looking at a few items that I know are relatively stable, and using Auctioneer as an assistant.
Getting Started
Download Auctioneer (The Suite) from Auctioneer addon for World of Warcraft
Extract to your WoW/Interface/Addons folder
Log onto WoW and make sure the whole suite is enabled.
Building Search Data
In order to get accurate market values and information, you need to let Auctioneer scan the AH. I scan at least once a day. Scan as often as you like. Within a week, you will have a good amount of data.
If you know prices on your server, you may be able to start right-away after your first scan.
http://i179.photobucket.com/albums/w304/tsincaat/simple%20money%20making%20auctioneer/scanningauctionhouse.png
Finding Good Markets
You now need to find some items you can make a profit off of. Items that are in high demand and move quickly through the AH are good choices. These are commonly materials, like Cloth, Leather, Essences. The more of these you know, the better.
One of my favorites right now is Cloth, like Frostweave. When Eternals like Eternal Fire and Earth are stable, they are good to watch too.
Making the Money
You are looking for auctions that are going below the market value. This is indicated by the "Pct" to the right of the price when viewing auctions.
I went and took a look at Runecloth
http://i179.photobucket.com/albums/w304/tsincaat/simple%20money%20making%20auctioneer/buyingrunecloth.jpg
The auction at 32% of market value can be bought and sold for full market value, or a little below if necessary. I went ahead and purchased it.
When Reposting it from the "Appraiser" tab, I can check that I am "Price Matching", beating the competition, and see the total value that I will be selling for.
After a few hours, I checked back.
http://i179.photobucket.com/albums/w304/tsincaat/simple%20money%20making%20auctioneer/soldrunecloth.png
While this certainly wasn't a big ticket item, I still managed to sell this for almost 300% of the original price.
With this method to make a lot of money, you need to watch as many items as you can. On the search tab, you can open "Snatch" and use this module to watch for items at a certain price and below. With this you can easily control a whole market, or simply use it all your items to find those with a value below a percentage with just a single scan of the Auction House.
Undercutting
In many cases in fast moving markets it's okay to let others undercut you. I generally try to sell for close, or just a little under the market value in these markets. When people undercut you, in many cases their auctions will be bought out, then yours will be. Because the market value tells me that auctions on my server sell for that price on average, I know that as long as the market value remains the same or goes up, my items will surely sell.
http://i179.photobucket.com/albums/w304/tsincaat/simple%20money%20making%20auctioneer/gettingundercut.png
A few hours later…
http://i179.photobucket.com/albums/w304/tsincaat/simple%20money%20making%20auctioneer/soldfrostweave.png
This is a relatively simple method, it's probably not going to pay for your epic flight mount. Regardless, it's a good start to auctioning. Look forward to more advanced methods posted in the future. If I can, I'll also post a few of my sales in this thread as they're made.
by tsincaat