Well like most people that were in the cloud market yesterday and today I was riding on cloud nine. Prices had been sitting at around 70-100g each on gems and I took the liberty of resetting all the good, and even tangibly good, gems to 350g a pop, and proceeded to sell them like got cakes all day.
Priceline Negotiator (tell me someone gets that reference):
I've heard varied results but as of 10am going from 12pm when servers came back up yesterday I've had sales of 29,780g with most of that coming from the gem market. This was well and good until about 11pm when I saw someone spamming "[Gem] in AH". This started to worry me after about the 20th gem had been linked so I checked out a few of his prices. Every single gem had been undercut by 30-50g, and I knew I had maybe 2-3 hours until the guy that does a blanket undercut at 2am popped on and locked in the prices. Crap. So I messaged the seller and suggested he repost at higher prices, as buying him out would have cost me a good 40k, to which he replied that he was transferring his guild to a different server in 2 weeks and was liquidating the guild bank contents to make some cash for when they hit the new server. After chatting with him for a bit I decided to wait for TUJ to update and give him a quote to buy all of his gems in a package deal + 300g to reimburse his posting costs, to which he was interested but had no idea what TUJ was. When I gave him the quick and dirty on what TUJ is and said it'd update in roughly 30 mins he said that unfortunately he had to get up for work in and wouldn't be able to stay on that long. Crap x 2. After contemplating my options for a bit I looked over his auctions again and found that most of them were the same as the ones I was selling (aka the good ones) so I asked him exactly how many gems he had on the AH to which he responded 134.
Me: "Well for 134 I can do....lets say 10k, for the lot of them"
*5 mins of no response*
Me: "Actually considering the effort you'd put in to cancel em, lets go 12k"
Seller immediately responds: "Ok 12k sounds good."
So hoping I hadn't just shot myself in the foot I emptied my bags and made my way to Stormwind while he cancelled all the auctions and traded him 6k up front 6k after. He inquired as to whether I bought raws, which I was of course interested in for the right price. He presented me with:
River's Heart (booo) x 51
Primordial Ruby x 51
Sunstone x 75
Wild Jade x 36
Imperial Amethyst x 14
Vermilion Onyx x 14
+160 green gems, 90 of which were mixed colours
Make or Break:
Although the blues aren't my cup of tea they would sell....eventually, and the rest were always in high demand. Though mixed colours are my favourite buys they made up the minority of the transaction, but I offered him 14k for the lot. Unfortunately he's good at math and realized he wasn't exactly getting screwed, but that he might be sore for a few days anyway, and offered 18k, to which I got him to agree to meet me in the middle at 16k. After trading most of the gems he tossed in 2 cut vermilion onyx, that he said he'd forgot in the first sale, I'm always one to appreciate honesty even if I'd likely never buy from him again so I tacked an extra grand onto the second sale and wished him luck with the transfer.
Long story short after chatting for a bit I found out he was an old acquaintance and we ended up talking for another half hour (of which I admit I spent half of nervously glancing at the variety of cut, perfect cut, and raw gems in my bags just waiting to be audited) before he logged off. Looking at the gems afterwards I found that he must have vendored all the crap cuts and only sold the relatively good ones, as the lowest selling gem I could find was going for 120g, considering I'd paid an average of 89g for them it wasn't half bad. On reviewing the blue quality gems I found an average buy price (including my tip) of 70g, which is about my crafting price if I don't count transmute proc's, plus around 1600g in green quality gems.
Overall I stand to double or triple my cash invested, although it'll take a while. I anticipate that this gamble will pay off as demand should spike within the next 4 days as people who'd held off on leveling their 85 characters till 5.3 will start hitting 90, raising demand on enchants, crafted dreadful and gems. Considering I kept prices from falling 30-50g across the board, and the point that I sold around 80 gems on the first day, if sales hold I just saved myself an additional 4000g.
I'll call it a win, although I might take a leaf out of GoblinRaset's book and go make myself a drink.