Auction House

FFXI was one of the first MMO titles to introduce a stable and entirely player controlled economy. The Auction House system (commonly referred to as the AH) provides the means for thousands of players to trade with each other without direct contact. 
In the auction houses of FINAL FANTASY XI, sellers designate an asking price when they put items up for bid. The first bidder to offer a price higher than the asking price gets to purchase the item. These places are a magnet for players, since it's possible to get a better deal here than at the shops run by NPCs.	__TOC__
== History ==
After the severe supply shortages during the Great War against the Dark Lord, the black market of Jeuno prospered even as common people suffered; but lately, with increasing number of adventurers looking to sell items which are useless for them but crucial for others, the auction house has become a pivotal part of Vana'diel society. These auction houses are the brainchild of private investors who used them as hubs of commerce in the heart of each nation. Auction houses have really promoted the circulation of goods, which is vital for the success of new adventurers.
The benefits of this system are not restricted to the main cities only, remote and far off areas also benefit through the new revolutionary delivery services and management utilizing linkpearls.
== FFXI Auction System ==
According to the rules governing the auction houses, a seller places the items in the Auction House for sale and the highest bidder in the auction takes the goods home. The goods that are not sold over a period of 30 Vana'diel weeks (9 1/2 Earth days) are returned to their owners through the delivery box of their Mog Houses.
== FFXI Auction Security ==
Vana'diel is not a perfect world; there are bad people around as well as the good. So with the security of the employees of the auction houses in mind, the authorities devised some interesting rules to protect the auction house staff from enraged bidders. They ensured that the windows of the FFXI Auction Houses are designed in such a manner that the employees are not visible to the outsiders. This measure also serves well as a deterrent to keep robbers and thieves away, as they can't even see their intended victims. This security feature serves the employees well; but is not always enough.
== How To Use ==
The following is a step by step guide on how to buy, sell or browse the Auction House. To use the auction house, you will need to locate an Auction House counter or an AH NPC in certain locations of Vana'diel, Before the May 2011 Version Update there are 4 Auction House systems in FFXI, each corresponding to the 4 major nations: Bastok, San d'Oria, Windurst and Jeuno; afterwards all Auction Houses have been unified. 
===Finding an Auction House Counter===
Zone 	Type/NPC Name 	Position (pos)
Bastok Mines 	Auction Counters	(H-8)
Bastok Markets 	Auction Counters	(E-8)
Norg 	
*Atrevaux 
*Zoldba 
*Gofufu 
*Agatsum	(G-6)
Southern San d'Oria 	Auction Counters	(I-9)
Port San d'Oria 	Auction Counters	(H-10)
Rabao 	
*Cavalgrinne 
*Hyesun 
*Smiling Rat	(K-7)(J-7)(K-7)
Windurst Woods 	Auction Counters	(K-12)
Windurst Walls 	Auction Counters	(I-11)
Kazham 	
*Cha Chalco 
*Cophi Ricuub 
*Sulo Mouzho	(D-8)(E-7)(D-7)
Lower Jeuno 	Auction Counters	(I-7)
Ru'Lude Gardens 	Auction Counters	(F-8)
Port Jeuno 	
*Basmus 
*Kouang 
*Rilve-Hitolve 
*Sapladrepoin	(H-8)(I-8)
Upper Jeuno 	
*Indika 
*Shama Pikholo 
*Ulesa 
*Wise Wolf	(H-7)(G-9)(H-7)(G-9)
Aht Urhgan Whitegate	Auction Counters	(E-6)
Al Zahbi 	
*Sojan-Tamjan 
*Yando-Memondo 
*Goyuyu	(G-11)(H-11)(H-11)
Nashmau 	
*Momoroon 
*Pupuroon	(G-6)(H-9)
Tavnazian Safehold 	
*Eliot 
*Ferocious Artisan 
*Senvaleget	(F-10)
Western Adoulin 	Auction Counters	(E-10)(F-10)
Eastern Adoulin 	Auction Counters	(H-10)(H-11)
=== Browsing ===
The Auction House consists of the following categories:
Main Categories	Tier 2 	Tier 3
Weapons 	Hand-to-Hand	Hand-to-Hand
Weapons 	Daggers 	Daggers
Weapons 	Swords 	Swords
Weapons 	Great Swords	Great Swords
Weapons 	Axes 	Axes
Weapons 	Great Axes 	Great Axes
Weapons 	Scythes 	Scythes
Weapons 	Polearms 	Polearms
Weapons 	Katana 	Katana
Weapons 	Great Katana	Great Katana
Weapons 	Clubs 	Clubs
Weapons 	Staves 	Staves
Weapons 	Ranged 	Ranged
Weapons 	Instruments 	Instruments
Weapons 	Ammo & Misc.	Ammunition
Weapons 	Ammo & Misc.	Fishing Gear
Weapons 	Ammo & Misc.	Grips
Weapons 	Ammo & Misc.	Pet Items
Armor 	Shields 	Shields
Armor 	Head 	Head
Armor 	Neck 	Neck
Armor 	Body 	Body
Armor 	Hands 	Hands
Armor 	Waist 	Waist
Armor 	Legs 	Legs
Armor 	Feet 	Feet
Armor 	Back 	Back
Armor 	Earrings 	Earrings
Armor 	Rings 	Rings
Scrolls 	White Magic 	White Magic
Scrolls 	Black Magic 	Black Magic
Scrolls 	Songs 	Songs
Scrolls 	Ninjutsu 	Ninjutsu
Scrolls 	Summoning 	Summoning
Scrolls 	Dice 	Dice
Scrolls 	Geomancy 	Geomancy
Medicines 	Medicines 	Medicines
Furnishings 	Furnishings 	Furnishings
Materials 	Smithing 	Smithing
Materials 	Goldsmithing	Goldsmithing
Materials 	Clothcraft 	Clothcraft
Materials 	Leathercraft	Leathercraft
Materials 	Bonecraft 	Bonecraft
Materials 	Woodworking 	Woodworking
Materials 	Alchemy 	Alchemy
Materials 	Alchemy 2 	Alchemy 2
Food 	Meals 	Meat & Eggs
Food 	Meals 	Seafood
Food 	Meals 	Vegetables
Food 	Meals 	Soups
Food 	Meals 	Breads & Rice
Food 	Meals 	Sweets
Food 	Meals 	Drinks
Food 	Ingredients 	Ingredients
Food 	Fish 	Fish
Crystals 	Crystals 	Crystals
Others 	Misc. 	Misc.
Others 	Misc. 2 	Misc. 2
Others 	Misc. 3 	Misc. 3
Others 	Beast-made 	Beast-made
Others 	Cards 	Cards
Others 	Ninja Tools 	Ninja Tools
Others 	Cursed Items	Cursed Items
Others 	Automaton 	Automaton
=== Buying ===
To purchase an item from the Auction House, locate the item you need, select it and the options to Place a Bid or View Price History will appear. Make sure to view price history to see what the current popular selling price is on the item and then place a bid for the appropriate amount.
=== Selling ===
To sell an item, select the Auction House and go to "Sell". A list of items in your inventory that can be auctioned will appear. Select the item you wish to sell and the option to price the item will appear. The game system will confirm twice if you'd like to sell the item and if you're willing the pay the appropriate transaction fees on it. 
===Transaction Fees===
To sell something on the Auction House, a seller will have to pay a transaction fee. 
As of the February 2014 Version Update, Auction House fees have been standardized worldwide
Location	Quantity	Formula
*Windurst
*San d'Oria
*Bastok
*Kazham
*Rabao
*Norg
*Western Adoulin
*Eastern Adoulin
*Lower Jeuno
*Ru'Lude Gardens
*Port Jeuno
*Upper Jeuno
*Tavnazian Safehold
*Nashmau
*Aht Urhgan Whitegate
*Al Zahbi	Single 	1% of asking price + 1 gil, with the maximum being 10,000 gil per item.
*Windurst
*San d'Oria
*Bastok
*Kazham
*Rabao
*Norg
*Western Adoulin
*Eastern Adoulin
*Lower Jeuno
*Ru'Lude Gardens
*Port Jeuno
*Upper Jeuno
*Tavnazian Safehold
*Nashmau
*Aht Urhgan Whitegate
*Al Zahbi	Stack 	0.5% of asking price + 4 gil, with the maximum being 10,000 gil per stack.
== Auction House Mini game ==
The Economy of FFXI can be considered a 'mini game' in its own right. Countless hours can be spent playing the Auction House equivalent to the real life stock markets. The following section will serve to outline certain 'gil making practices' which have emerged over the years.
=== Supply and Demand Calculation ===
With the onset of RMT and now the Special Task Force reactions to RMT, supply and demand for items are becoming increasingly erratic. It is common practice amongst players to predict demand for certain items depending on time of month, seasonal events and how many RMT were banned at any given time. 
Non-RMT crafters will step in when a huge decline appears in the supply of certain consumables, for example, or farmers will jump in with ingredients for crafters. Watching auction house trends has been made easier by the emergence of a new online tool called FFXIAH, an online Auction House tracking system created by the community. 
Sometimes crafters will pick specific items with which to make gil. Once they have settled on their choice items, they will attempt to control the market for pricing and availability. If a certain crafter has monopoly on an item, they are capable of creating an artifically short supply, thus exponentially increasing the price that they can successfully sell the item for. (Price Gouging) 
On the other hand, there are also situations where players will attempt to create a high demand at high price situation. Examples of this can be seen on certain items where the seller buys from him/herself and attempts to 'wipe' the older bid history, thus making their desired price, the precedent. This is generally considered price manipulation and the STF has been known to ban accounts for flagrant use of this tactic.
Because of the way the Auction House system works, it is sometimes impossible to tell what the 'true' worth of an item is, as value for everything sellable in the game will fluctuate according to current player style/fad/situation.
=== Undercutting ===
When some sellers are disatisfied with the rate that their product is selling, they will occasionally place their items for significantly less than the current going rate. As the first set of RMT crafters began to effect the game for normal players, Market Flooding (and undercutting) became much more prevalent.
For Example:
*an Item has a steady price history of 10,000gil
*Seller A places several of this Item on AH at 10,000gil each
*Seller B notices there is already a nice supply of the Item on AH; but, wanting to clear his inventory quickly, places his store of Items on the AH for 9,000gil each.
*If a buyer places a bid of 10,000gil for the Item, Seller B's inventory will be sold first, compared to Seller A. This is because the lowest priced item sells first.
*Along comes another buyer and he places a bid of 9,000gil for the Item. Again, Seller B's inventory will go first, then Seller A. But this in turn causes the recent sale (and perceived value) of the Item to fall by 1000gil. 
*Seller B is undercutting to sell faster, but in return, risks ruining the profitability of producing or farming the Item.
Done on a wide scale, this can be used to drive competitors out of a market. Once the prices are no longer within their 'acceptable' profit range, they will move on to something else. This has historically been one of the primary tactics of both bulk synth crafters and RMTamong st, both of which can afford smaller margins to show reasonable profit over time than the typical hobby crafter.
=== Buy for Less, Sell for More ===
This term refers to buying from NPC/Bazaars for less then relisting on Auction Houses for twice to three times as much. In the early days of FFXI and during the major inflation of 2005, players stood to gain millions of gil from this type of AH farming. Though not so prevalent now, it still exists to a certain extent for certain items such as spells. This is more common in the starting town auction houses and when moving materials between starter towns and the main Jeuno system (especially low level equipment)
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Category:Item
Category:Game Mechanics