Beat the best selling price - in detail

BullionVault is a dynamic, competitive market where buyers and sellers of gold compete on price.

As a seller you want the highest price. You can accept the best bid, to try to sell quickly if you think the market is moving down soon.

If, on the other hand, you are patient, and want to try to save the market 'spread', you can advertise your price to the next buyer and wait, hoping that a buyer on the market arrives before someone offers gold cheaper than you. With this strategy you are less likely to sell quickly, but might sell at a higher price. It all depends on there being a buyer of gold at the price you offer at in the reasonably near future.

Following this strategy you will become the market's new best price for buyers, and you will see your offer appear as a gold coloured brick on the order board, attracting buyers. This can take a while to get your head around. You are a seller advertising to buyers, so your advertised price is placed on a gold button, waiting for a buyer to click it. The lower you offer at the narrower you make the spread, and the more attractive your price becomes to potential buyers out there.

Step 1. less detail	Make sure you are Logged in. Another thing you may need to do is check on your resources. You will need to have enough gold available to meet your sale order. From the front page select the order board by pressing the MARKETS menu button, then selecting the ORDER BOARD sub-menu option.
Step 2. less detail	Look at the prices in your chosen vault, in the currency you've got. You'll see a spread between the green button's best selling price and the gold button's best buying price. You want to attract a buyer with an attractive price - in other words you want to narrow the spread in favour of buyers by offering gold cheaper.
Step 3. less detail	Click the 'Best Bid' green brick. This loads the order panel with the details of the best bid, in other words the best terms offered by a current buyer, with you as the seller. Let's try and tempt him by offering at very nearly what he's prepared to pay!
Step 4. less detail	So, instead of going on to sell immediately on his terms now adjust your price limit / kg upwards on the order panel using the arrow key. Pressing it just once leaves a narrow price which may be compelling to many gold buyers. Each additional press increases your selling price one mark at a time and deters potential buyers, but earns you a fraction more. Now remember to adjust the quantity to the amount you'd like to sell.
Step 5. less detail	When you're happy with your order press the SELL/OFFER button, and CONFIRM , as for a normal order entry. Then look below for what happens next.

What happens next ?

You will probably receive a response in the order panel saying 'Your order is now open'.
As the best offer in the market you will probably see your price come up as the new lowest offer gold brick for your chosen vault and currency. You are selling, so you are advertising to a buyer.
The reason we can only say probably is because you might have entered your order at almost exactly the same time as a buyer bidding for gold at your price, in which case you will already have dealt. Or possibly someone has already bettered your price, in which case you're on the board, but not currently at the best price as a gold brick.
Remember there are trading bots out there. It's quite possible that someone's computer is making a market too, and when it sees you beating it on price it starts to compete with you to offer gold cheap. Don't be too surprised if you're not the best offer for long.
One thing that's fun to do now is to view the new market spread. What you just did was narrow the spread on the gold price for the whole world. You can see the effect by pressing the MARKETS menu button, then selecting the MARKET SPREAD sub-menu option. You reduced the size of the white gap in your chosen vault and currency.
As usual you can monitor the success of your order from the HISTORY ORDERS screen. Sometimes it's best to monitor what's happening on the ORDER BOARD itself, because you'll see if anyone is offering gold cheaper than you.
If you decide you want to push the sale through you'll need to withdraw your offer by killing it from the HISTORY ORDERS screen, and replacing it with one at a lower price.