Think of the auction house as a unique blend of Ebay, and your local convenience store. At Ebay, you can bid on items, sometimes finding a real value. At your local convenience store you can pick up items you need right away, although you are likely to be charged a premium price for the service.
If you are shopping for an item you need right now, expect to pay more then market value. If you plan ahead and shop for good deals, expect to pay much less. Sometimes I shop at the Auction House five minutes before a raid to pick up a few mana potions or flasks. Yes I pay a lot more for them, but thank heavens someone put the items up for me to buy when I needed them. Yes I could wait and buy the components and find someone to make the potions for me, but if its 6:55 and my raid starts at 7:00, I have few choices.
Plan Ahead
If you can plan ahead, expect to pay 10-20% below market value. Keep at least a one to two week supply of the items you are most likely to need. Sure you may still need to pick up an occasional “right away” item, but at least most of what you buy will be at a fair price. If there are items you need that can be crafted, consider buying the components and having a friend or guild mate craft them.
Don't Crash the Market
If you need to buy a certain item on a regular basis, try not to buy out the entire stock of the item. If you leave some of the item up in the Auction House, the next player who goes to post an auction is likely to undercut the existing inventory, keeping the price relatively stable. If no items are for sale, the next seller may decide to raise prices due to the lack of competition. Just like at Ebay, you do not have to use the “Buyout / Buy Now” option. You can save a tremendous amount by bidding on items you don’t need right away.
