Friday, June 25, 2010

Mistakes and Some AH Flipping

I never really share the mistakes I've made in the past with all of you so I thought it would be good to show my failures and the learning experiences I've had.

I always heard that flipping battered hilts was really good profits depending on the going price of course. On my realm I had always seen hilts going for 12 to 13k on the auction house. When I obtained my first 12k gold I decided I wanted to give this a shot, so I found a hilt for 10k in the auction house. I thought to myself, "this is great! I can resell this hilt and make at least 1.5k profit." Well I was wrong, weeks went buy and I still had this hilt. All of sudden it seemed that I was competing against 5 other players with hilts that were constantly undercutting each other. Even when posting in trade channel all the offers I received were for 6 to 8k gold.

I became frustrated and figured that I could be making much more gold right now if I had the majority of that gold back to make investments in my stock piles. So I finally received an offer for 9k gold and I took the loss. It worked out because I did in fact make much more gold because I re-invested that 9k into professions and stock piles and made returns very quickly. So I learned my lesson and I have since successfully flipped battered hilts but it's only when I find great deals for around 6 to 8k gold. This was a perfect example why you shouldn't always trust auction house prices.

Any who, I've been having really great success flipping epic blacksmithing plans. I have found soo many plans of late that have very low minimum bids. I have been making amazing profits from 500 to 1000 gold on each plan. My eternal fire market finally returned and I've been making a killing this week selling fires for 22 to 32 gold each! Most of the eternals in my stock pile I only paid 9 to 15 gold for.

Thanks for checking in!


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