Well, becoming a billionaire in D3 is rather easy, as long as you have enought time to spend on the AH.
After trying several things, I think the next tactic is the most easy:
1. Select All Armors (for example)
2. Set a suitable buyout (10m, 50m, 100m)
3. Set level to 60
4. Set type to legendary
5. Sort the table on freshness (so 1d12h on top)
6. Hit ENTER
7. Scan the top items that have just entered the AH system 8. Spot the items that are underpriced heavily
9. Buy them within seconds, but be aware for AH bots that buyout the more obvious snipes (mempo with socket and CHC for example), the less obvious snipes will be sniped less quickly by bots
10. Resell your snipes for about 75% of their market price - this way they almost sell instantly
11. Repeat step 6 to 10 untill your eyes hurt or untill your bank accounts hits zero
Your point #8 assumes a lot, and point 9 is irrelevant - how is one supposed to be aware of a bot? The AH is not a fps. If a good deal is nabbed by someone before you, you won't see it listed. Simple.
Point 8 assumes that the player knows his trade. So he should be able to recognize underprized items.
Point 9 is relevant because the player should realize that multiple bots are scanning popular items with certain affixes on certain price thresholds. The bots normally work with 5 to 30 second refresh intervals. This knowledge should make the player realize that when he spots a zunimassa pox with CHC for under 10m, that there is no time to check other affixes or items because the item will be sniped within seconds.
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Point 8 assumes that the player knows his trade. So he should be able to recognize underprized items.
Point 9 is relevant because the player should realize that multiple bots are scanning popular items with certain affixes on certain price thresholds. The bots normally work with 5 to 30 second refresh intervals. This knowledge should make the player realize that when he spots a zunimassa pox with CHC for under 10m, that there is no time to check other affixes or items because the item will be sniped within seconds.