How to know your market, when you have no world market?
So you want to sell in AoC, but you don't know how to price your goods? Make it to high, and people will walk away, make it to low, and you cheat yourself from making a profit. So what will work in AoC?
Building your resources:
No matter what your going to make, you need the resources to do it. So be it your doing it for yourself, gathering up what you need, or you buying it off others. That means you still have to make money, and in the beginning you need to go out and kill stuff to get the coin your need to buy from others. At the end of the day, you should have a good beginnings to what your going to make for your in game business. Most of this time your basing it on what you know of past games market history with players.
Making your items.
At this point your making whatever you picked to make, and getting it ready to sale. What do people need, and what is needed over all. You have to find out what is in demand at the start, and gain as much of coin you can on the next day. You might find what is needed based on past games, or you might miss the mark and get set back. But all in all you will have a few coins on the next day. At this point your taking the current market orders to fill on the next day.
Finding your market.
You should at this point have Identified all the items people are looking for, and your picking what your going to make to gain the coins your looking to make from those items. At this point the market is set for new questing gear, so it's what you need to make while this market is still young. You should keep this trend in mind for later future orders.
Retires of failure.
Ok you might have missed the mark on your 1st and 2nd orders, but it doesn't mean you give up, and you find what will work for you right now. Do you just get the resource for others to make things? Do you provide a service to process items? Or do make what is needed and sell the finish product?
Knowing your market
After a few days of hard work, you have a growing business in game. People are buying from you, and your making good coin. So now you want to expand a little. This is where you have to watch what your doing next. It's all about location, location location. If it be a freehold or a spot in the towns market square, you have to be the person people remember that come back too. If you played your cards right, people will be looking to buy from your 1st, so you need to make sure your keep your bags full. At this point you should know what sells the best, and what don't make the coin.
Now this is going to be the bear of the game. You know your areas market prices, what sells best, but what about the next node town over. Maybe your trying to get a foot hold in a new market, but you don't know what the prices at before you get there. So you can do a couple things.
1. hire a scout - send this person out to report on the pricing in the next town, let them tell you want the local prices are set too.
2. Take a sample - You go to the new town on your own, and you have a sample of what your selling. This trip is mainly to scout for yourself the prices in the new area. So you might take a hit on your sales, but you get a feel for the market at hand.
Keeping a record.
If your going to be selling in other towns, outside of your own town, you must keep a record of the prices of each town. We have no global market, so you can't see what is selling at what price in real time. You have to spend time to keep a log on what the prices were doing a week ago, and what was selling good over the few weeks of your sales.
Ok I am just tossing ideas out there, but if someone has better idea, I would love to hear them. Maybe what I said can work or not, but in AoC when your buying and selling whatever, the world will be a huge place to do business in, and we do not have a global market to help figure out prices. City A at level 6 might sell items at a very high rate of exchange, where you have Town B at level 3 selling the same items at a discount. We who play the role of merchants need to find the right mix, and keep the buyers happy, or face losing in game business before it starts.