Sell your junk...
Items you pick up that have gray names are considered Poor quality items, also called "junk" or "trash". As a rule, this means they have no use besides destroying or selling. Some of this stuff can be sold for decent amounts of money, but much of it just wastes bag space.
Take a careful look at the junk you accumulate and sell it as soon as possible. In some cases, the bag slot it takes up may make it worth destroying rather than hanging on to to sell later.
Some criteria to decide what to destroy:
- Very low value (total stack value at levels 6-10, less than 1 silver; levels 11-20, less than 5 silver; levels 21-40, less than 20 silver; 41-60, less than 1 gold; levels 61+, less than 2 gold).
- It doesn't stack well (one item takes one back slot or the stack count is less than 5).
- Probably won't drop again before you get to a vendor.
- Your bags are full and a high value Common (includes trade ingredients) or higher value Uncommon or better item drops or is gathered.
Make sure to investigate AddOns that can help you by giving you the vendor price of gray items. Some AddOns will even auto-destroy or auto-sell gray items based on criteria you give to them.
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