SELLING

INFORMATION

Selling your bot is a pretty simple process. If you have a bot and are wanting to sell it you will know about the marketplaces you can do this so we wont go into detail about those.

Ideally when your selling, much like buying you will want to look at 5 statistics for your bot.

1. Asks

2. Bids

3. Sales

4. Demand

5. Time

ASKS

Asks for bots can often be much higher than what the bot is actually worth. This is pretty obvious as people wanting to sell the bot want as much money as possible. In general we will see bids low, asks high and sales somewhere in between. When selling your bot you will want to ask your self how badly you want to sell. If you want to sell quickly you will need to sell at a lower price than others aka becoming the lowest ask. This means you will have to undercut other people selling the bot which is generally not a good idea. What you should aim to do is match the lowest ask and wait until it sells however there are always going to be undercutters and be prepared for people to even undercut you. However there is absolutely no need to undercut the lowest ask by more than $5-$10 depending on the value of the bot.

BIDS

Bids are a good statistic to get a general idea of how much people are willing to buy for however they are often pretty low. This is also pretty obvious as people buying want to get the best deal possible. Bids and Asks tie into a section called demand which we will talk about next

DEMAND

The demand for a bot plays a significant role on weather sales are happening closer to asks or closer to bids. For example, after x bot cooks x release the demand is going to drastically increase so those looking to buy are going to be seeking out the lowest ask, perhaps try to negotiate down closer to a bid price then land a sale. If demand is somewhat low, sellers are going to be seeking out the highest bid, perhaps negotiate up to a price closer to other asks and land a sale. In general like we said, sales will happen at a price somewhere between asks and bids. A great way to see actual data on this is to use the bm bot name command or the !tidal bot name command in any channel in DreamCook. This will give you a bunch of valuable data which will help you understand more about the market price of your bot.

TIME

Timing when to sell your bot can be hard. Your bot might be one drop away from domination creating a surge in value. Its hard to say, ideally when your selling a bot it should be for a reason such as buying a new bot that you believe will bring you success. Read up on the updates and announcements put out by the developers and ask your self if now is a good time to sell. If you find your self jumping to conclusions and focusing on 1 point, always sleep on it and think again tomorrow. The price of the bot is unlikely to drastically change over night.