Chapter 443 - 438 : Auction House

In cities in IR, the auction house was the contrary existing figure to trade houses that existed in towns but with more features and was also more profitable for players.

Trade houses were buildings that sold items at a cheaper price than the market rate. While this was advantageous to buyers, it wasn't the same for sellers. The only advantage it had towards those who sold their products was that it allowed them to quickly convert the item or equipment into money.

When a player was to sell a certain good at the trade house, it would be done so at price cheaper than the market rate and sold at a price slightly above that but still 

Cheaper than market rate to others. In other words, those who sold their products or items in trade houses, actually took a loss when comparing the price to other places whereas those who bought from trade houses profited the most. 

This sounded wrong but there was an advantage that laid within this concept for producers. When a player blacksmith, alchemist, or scribe wants to sell their product to an NPC store, they won't always be successful. The success rate of selling their product depends on the fame of the player in regards to their subclass. The more famous the player is as a blacksmith, alchemist, or whatever, the easier it would be to get their item sold. While there still existed cases where a player who was new to the industry managed to get their goods sold to an NPC store, it always had to go through stringent checks to ensure its quality, as well as the bargaining process where a [Merchant] class holder would prove to be very useful. In summary, it was stressful for producers to have their products sold through NPC stores unlike in trade houses. 

Also, as more and more players and NPCs purchase the items in trade houses, the player's popularity as a producer would increase so long as they left an insignia belonging to them on the product. Most players didn't know of this and few placed theirs just to satisfy their ego.

So in summary, trade houses were like the nursery for lifestyle class holders to sell their products. Auction houses, however, were something else.

In IR, just like in reality, businesses could be owned by both players and NPCs hence there wasn't just one auction house but various ones. Some were operated officially by the kingdom, empire, or even a city lord's office while others were either owned by an individual NPC, a chamber of commerce, or a guild like the Blacksmith guild; which organised auctions once in a while. 

Generally, auction houses operated rather similar to an NPC store but not exactly. Just like the average NPC store, each auction house passed the consigned item through various quality tests before being put on sale. In some auction houses, the item would need to reach a certain grade before it could even be sold in the auction. In this regard, trade houses had the advantage of the ease of sale of products. However, these regulations made it such that players were assured of finding an item of good quality in auction houses, unlike in trade houses where any rick and morty[1] could be found.

However, since auction houses sold goods in auctions, only the highest bidder could get them. Therefore, chances were that the item could be sold above market price unlike in trade houses where one could get an item below market price. As for the producers, since their items didn't really have a price cap, they could make more off it than they would in a trade house or an NPC store.

In summary, trade houses were important for players who needed to quickly sell an item while auction houses were for players who needed to buy an item of high quality or one that was urgently needed. Also, trade houses were more advantageous to buyers as they could get an item at a cheap price while auction houses were more advantageous to sellers as they could make more than they would in an NPC store or a trade house. Essentially, these were the major differences between the two houses.

"You're here already." Sato smiled as he walked towards the entrance of the auction house.

The entrance of the auction house was both noisy and rowdy due to the large number of players gathered in front but Sato was still able to spot someone familiar.

"Yeah. I was already done before you sent me the text so I decided to head over quickly." Xue Yan shyly replied.

"No problem. Let's wait for the others."

Compared to the trade house, the auction house was a lot more elegant and luxurious. It was to be expected since this was an auction house operated City lord's office. Black Rock City was a home of minerals and materials so the number of such items shipped in and out of the city was a lot. Most of the minerals mined from Black Mountain Town were usually brought into the city then sold in either auction houses, stores, or to merchant groups and chambers of commerce. Therefore, the number of minerals and the amount of money being processed every day was unimaginable to current players.

Also, due to the large influx of minerals and materials, Black Rock City was home to a lot of lifestyle guilds. As a result, the number of items being produced daily was a lot. Therefore, the auction houses usually had a lot to sell and were stocked full, especially for special auctions like today.

Since they processed a lot of transactions and they organise frequent auctions, the auction house in Black Rock City was built to look grand and stylish. From the groundwork to the rooftop, everything was valuable and expensive. The building could be said to be the definition of high-class.

The huge white pillars that held up the pediment were made from high-quality 2-star Pristine white-stone with various colorful gems indented on it. Golden gates made from actual gold, wooden doors made from 3-star Beril Oaktree wood supported with metal frames from 2-star Silver core, just the exterior alone was intimidating to the pockets of every player present much less the interior.

"As expected of the auction house operated by the City lord. Black Rock City is indeed a city in gold." Sato sighed with amazement. As a blacksmith, he knew a lot about materials compared to other players so he was able to easily identify the materials used in the construction of the building located close to the city's centre.

"Indeed. And a lot of lifestyle class holders would be hoping to capitalise on this." Xue Yan added as she saw the large numbers of players registering for the event.

As this was the very first general auction being organised, attendance was at a high and players were expecting to see a lot of impressive works on display. Even the lifestyle class holders had decided to sell some of their products in the auction since if it were up to standard, not only would they make some cash off of it but they could gain fame from it and be able to rake in a lot of cash constantly.

To a lifestyle class holder, being popular as a producer was much more important than killing monsters, and events like this were the perfect spot for increasing their fame.

"Move out of the way."

A cry suddenly interrupted the cacophony of voices from the players.

Following that, a group of players in black gowns with an aura filled with arrogance and pride began making their way towards the auction house. Wherever they went, the players close by would give way for them while some would stare in awe and others would send fawning smiles their way. 

Among this group of players happened to be a certain individual Sato was familiar with.