Auction House Basics
The auction house is a place where you can buy and sell items to other players. You can find anything on the auction house, from weapons and armor to consumables and trade goods! You can also sell any item as long as it is not bound to your character. The auction houses are conveniently located in each faction's capital, and they can be accessed by simply talking to an auctioneer.
As a seller, you can create an auction by going to the My Auctions tab and dragging an item that's in your bag into the auction house window. Before you can post the auction, you must set the auction duration as well as the minimum bid. You can also set a buyout price which will allow any player to instantly purchase your item at that price instead of waiting for the auction duration to finish. However, the services of the auctioneers aren't free and you will be charged a small deposit fee as well as a percentage of your earnings.
As a buyer, you can search through other players' auctions by going to the All Auctions tab. Here you can search by item name, type, level, quality, current bid, and buyout price. These options can be found at the top of the auction house window.
You can attempt to purchase an item by selecting it and clicking on "Place a Bid" or "Buyout". If you choose the buyout option you will win the auction instantly, and if you choose to place a bid you will win the auction if you are the highest bidder when the auction duration finishes. You can view all of your current bids by going to the My Bids tab.
Receiving Your Winnings
You will receive all purchased items and earnings in the mail along with an invoice of the transaction. You will also receive notices that you have been outbid on an item, and will receive any items that did not sell.