Happyface Falls From Grace

Happyface Falls From Grace

A very unhappy Happyface has been forced to admit he failed to predict a complete collapse of the Auction House market for enchanting, which began with a downturn two weeks ago, intensified into a panic and is now in free fall.

Savage Blood, routinely selling at 300 gold each, can be had in gross for 90g apiece

Sorcerous Earth, once snapped up at 60g each, are trading at 25g now. The three other types of sorcerous mats (air, water, fire) are trading at under 15g each.

High end weapon enchants costing as much as 2000-3000g each are being undersold by frantic sellers for 1500g and less.

The continued resilience of temporal crystals is the only faint positive, which traded all week at a strong 100g plus price. As the markets open on Saturday morning, however, prices have already fallen to 84g. Happy snapped all of those up. Price are still hovering in the 88-93g range, but should the panic spread to temporal crystals, enchanting mat prices may descend to worthless.

The always volatile bag market has also been affected. The hexweave 30 slot bag typically sells at 1500g plus but over the last two days has fallen to under 1200g and will likely continue to fall
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Embersilk (22 slot) and Frostweave (20 slot) bag prices are jumping all over the place, but Happy has been modestly successful at keeping profits up due to a large hoard of mats to make the bags. The up and down of bag prices also benefits Happy since he can still buy up low ball sellers and resell them at a higher price as the market veers back and forth. As this is being written, Happy sold three embersilk bags for 425g each. The buyer didn't notice that Happy had recently dropped his price to 370g to counter another seller.

Happy is also predicting that as the weekend raiding starts to ramp up, weapon enchant prices will rise. Happy took advantage of the current drop in prices and has several of the four key weapon enchants (Bleeding Hollow, Frostweave, Warsong, and Thunderlord). Even the lower level enchants could make a little extra gold since the key cost, Luminous Shards, have dropped from 50 to 40g. Ten minutes later, the price dropped to 29g.

It will take the full weekend to assess Happy's response to the sell off.