And this is why undercutting is retarded. You're just shooting yourself in the foot. Some people have multiple characters with one always by the wards so when you undercut them you'll find yourself undercut soon after. So it becomes an annoying game of who can sit by the wards the longest and relist their crap the fastest. This is why I'm more for a price history style AH like XI than a current price listing.
But hey this is benefiting me right now, the casuals don't have multiple characters logged in and nor do they have the time to camp the wards. Flooding the lowest 20 with NQs is fun too when someone undercuts your HQs from the wrong ward. They either move their retainer or get pushed out the market completely since people will only check the correct ward. Shitty tactics to combat shitty players. :P