After an item is bought by someone, another item is not added to the auction house immediately. All auctions last for more than 12 hours. The bidding works similar to the other auction houses bids. Vanity/misc items start between 10,000 g and 15,000 g. This means that if you really want an item you will have to win it by bidding on it. This is how it currently works on the Beta realms at least. There are about 10 items in the auction house at all times. Be prepared for a contested zone, so you can expect a lot of ganking on PvP realms. You need a lot of gold, as the lowest bids start at 10,000 g. Get to the Veiled Stair, a level 87 area. You'll need the Mists of Pandaria Mists of Pandaria expansion. The number of items that are up for auction is not the same across all servers. After winning, another item is not added to the auction house immediately. The auctions last for more than 12 hours and return your gold to you when outbid or the item upon winning. Mounts seem to start at 20,000 g, armor at 10,000 g, companions/pets at 10,000 g, and misc items at 10,000 - 15,000 g. The sky is the limit when competing against other collectors for items. īids start in the 10,000-20,000 g range and there is no buyout option. The items for auction vary by server, as other servers are able to bid on various items. The plan is that the market will not be a safe zone, making it an extremely dangerous place for those playing on a PvP realm. 
The Black Market is run by the mysterious Pandaren female Madam Goya. It is located within the Tavern in the Mists at the Veiled Stair. The Black Market Auction House (or "BMAH") is a new type of Auction House that gives players access to bid on items normally not sold by NPCs. Were you looking for the Black Market in the Underbelly of Dalaran?
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