Friday, July 30, 2010

Glyphs, Market Value, Gold Per Hour, Goblins Oh My!


I was very intrigued by a post from yesterday, over at the Greedy Goblin, that discussed the reason why we can make so much gold on the auction house is because of the large amount of idiots in the WoW community. I couldn't agree more with this point because it is very true. The M&S are buying ridiculously marked up goods and have no idea that you can buy a vanity pet from a vendor but will pay double for it on the auction house. They also sell items for much less than market value so what do wise players like our selves do? We buy them up and resell them for a profit. The M&S will still be happy and oblivious to what happened because they just got 100 gold for something that should have sold for 200g. So they are happy they got the sale and are like a toddler who gets a toy and is patted on the rear. They walk off thinking they got rich and they are on their way till the next time they make their 15 minutes of fame on the auction house.

What I didn't agree with in the post is that Gevlon claims that he will not work for 1000g per hour. So he will not sell glyphs below his threshold of 7g. So let's say he does post 300 glyphs and they all sell at least at his threshold that would be a total sales of 2100g. Cost of glyphs is 1.8g x 300 = 540g, so that is a profit of 1560g. Now let's say he drops his threshold to 4g and he ends up selling another 100 glyphs that he normally wouldn't be selling, with a 2g profit per that's 200 more to add to his totals. (Just an example, not that he would sell every glyph anyways and there is close to 500 glyphs available to make) He claims that crafting these additional glyphs will drop his gold per hour but yet he says this, "You can use addons for posting and getting mail, making these processes AFK, costing you no time." You are spending almost the same amount of time crafting and posting these lower selling glyphs so this would only boost your gold per hour.

"However it shows the reason why capitalism is good: it decrease(s) prices." This quote doesn't explain for simple supply and demand. There are many factors that can apply here and paying 60g for a glyph is not M&S. Sorry, just don't agree. There can be scarcity in the market place where a certain glyph can have a limited supply and large demand. When this happens you will have the large price upswings. Just the same you can have a flood of supply and no demand. That is where real price thresholds should be put in place, not "I don't want to waste my time with these lesser glyphs". Really? I'm pretty sure the companies that make the value brand foods at the grocery stores are making a pretty damn good profit.

If the above statement about capitalism was true, WoW Capitalism != Real World Capitalism. There is too many missing factors in the comparison between the two. There is no differentiation between quality of goods. We all sell the same goods and there is no difference in quality or branding. The only thing we fight for is supply and cheap materials. That is about as realistic as it gets.

Actual equilibrium is for example, when supply and demand meet. There is plenty of supply to meet said demand. But when a disequilibrium happens and a shortage is created either in demand or supply then prices are adjusted. If demand spikes and supply does not meet that demand then prices increase. So Gevlon is right for the most part with equilibrium point except, that saying that if there are goblins working in every market then prices would fall, that is where I disagree. This still doesn't take into account for limited supply, depending on the market or materials, these goblins are fighting for at specific times throughout a month. Demand can only be speculated and hopefully predicted. It's easy when you know a new raid dungeon or expansion is coming out that you are going to make a killing and you build up a stock pile to prepare for such a killing spree.

Thanks for checking in!

Thursday, July 29, 2010

Inscription Macro & Some Alchemy Xmutes


Short post today but wanted to share some gold making tips that have helped me out lately.

Inscription Macro
Since I have gotten into the inscription business it just drives me nuts the amount of time you have to invest into it. Milling, making inks, crafting glyphs, then posting(even with it automated) just takes too much time. Here is a macro that I use to help me mill all of my herbs without clicking on each one.

/cast Milling
/use Adder's Tongue
/use Icethorn
/use Lichbloom

You can add whichever other herbs you want to the macro that you need to mill. Just clicking this macro over and over will mill all the herbs in your bags. This is the best you can get since blizzard's API doesn't allow automation of milling, disenchanting, and prospecting.

Alchemy
Since I have recently made my alchemist transmute spec I have been churning out skyflare diamonds. It costs me a grand total of 14 gold to make one of these. (Eternal Air 10g, Bloodstone 2g, & Chalcedony 2g) At times I can get these mats for even cheaper.

Skyflare Diamonds are selling for 50g on my realm so I am making huge profits. I sold 10 of these last night at a profit of 350g, excluding auction house fees. On average I have been selling 5 per day since last week. It's a nice gold maker on top of transmuting your daily epic gem.

Thanks for checking in!

Wednesday, July 28, 2010

Weekly Update 7-28


Here is my weekly recap...a day later than usual, I really wanted to get that limited supply guide out.

Sales:
Jewelcrafting - 7,800g
Enchanting - 450g
Inscription - 2500g
Alchemy - 350g
AH Flipping - 2000g
Vanity Pets - 250g

I really spent a lot of time building up my inscription business buying pretty much all the glyph mastery books I could get my hands on. I was limited making gold with it at first since all the initial glyphs you get from the trainer are low demand glyphs for the most part so you have very limited profit margins. The last two nights I made the bulk of my profit off all the new glyphs I learned.

Jewelcrafting saw a little boost in demand, especially in Cardinal Rubies, and now my supply is starting to dip. I did invest another 5k in gems but in the grand scheme of things I really need to invest another 15k to keep myself above my competition.

Auction house flipping has been slow as of late, it's been difficult to find deals besides flipping eternals and orbs. I flipped only one epic, a item level 219 cape for a 300g profit. Other flipping I have done involved limited supply and vendor items.

Total Liquid: 53,177g
Total Invested: 23,000g
Total Assets: 76,177g

It's a big achievement me for me breaking the 50k gold barrier. Being a casual player who really only gets about 2 to 3 nights of actual play time a week, I think I have done pretty well. I am really starting to see gold flow in now that I have inscription going, alchemy transmutes turning out, still making a killing in jewelcrafting, and making a little bit on the side with flips and tailoring. If I had those other professions when I first started I would easily be above 100k.

I didn't focus on selling enchants this week since I was spending almost all my time building my inscription business. It still amazes me how much time it takes to mill -> craft inks -> craft glyphs -> post w/ QA3 -> cancel as needed & repost -> wait for 300 glyphs to pull out of your mailbox. Even with this all streamlined with quick auctions and postal mail mod I am still thinking there has to be a better way.

Dalaran vendor pets still are selling, if you are not flipping these you are really missing out on some easy gold. I've still been lazy and have not made a trip to netherstorm to buy the pets out there to rebuild my stock.

Thanks for checking in!

Tuesday, July 27, 2010

Dalaran Limited Supply Guide


This is a simple guide to reselling limited supply, vendor pets, and common trade items from vendors in Dalaran. This method can be done in a matter of 20 to 30 minutes from buying all goods and listing them on the auction house. You should always be looking for more opportunities to open up other gold revenues and this is a great one. If you have been already reselling vendor pets then just add this to your list of items to buy.

Angelo Pescatore
Aquadynamic Fish Attractor - cost 2s 50c, sell 1.50g
Strong Fishing Pole - cost 9s 2c, sell 12g

Bryan Landers
Bronze Framework - cost 24s, sell 3g
Bronze Tube - cost 8s, sell 3g
Coarse Blasting Powder - cost 48c, sell 40s
Copper Modulator - cost 2s, sell 2.50g
Copper Tube - cost 4s 80c, sell 50s
Rough Blasting Powder - cost 16c, sell 40s
Schematic: Titanium Toolbox - cost 8g, sell 19g
Silver Contact - cost 1s, sell 50s

Endora Moorehead
Copper Rod - cost 1s 24c, sell 19g
Runic Mana Potion - cost 2g 40s, sell 9g
Strange Dust - cost 8s, sell 50s
Tome of Polymorph: Black Cat - cost 2500g, sell 4000g

Edward Egan
Herb Pouch - cost 10s, sell 3g

Breanni
Albino Snake - cost 50g, sell 99g
Calico Cat - cost 50g, sell 99g
Obsidian Hatchling - cost 50g, sell 99g

Ainderu Summerleaf
Pattern: Primal Mooncloth - cost 4g, sell 49g

Lalla Brightweave
Pattern: Spellcloth - cost 4g, sell 29g

Linna Bruder
Pattern: Shadowcloth - cost 4g, sell 29g

Angelique Butler
Runic Healing Potion - cost 2g 40s, sell 5g

Larana Drome
Scribe's Satchel - cost 50s, sell 4g
Resilient Parchment - cost 50s, sell 10g
Technique: Glyph of Eternal Water - cost 3g, sell 14g
Technique: Glyph of Quick Decay - cost 8g, sell 16g
Technique: Glyph of Rapid Rejuvenation - cost 8g, sell 16g

Ildine Sorrowspear
Lesser Magic Essence - cost 8s, sell 99s
Formula: Lesser Wizard Oil - cost 40s, sell 3g
Formula: Minor Wizard Oil - cost 5s, sell 3g
Pattern: Enchanted Mageweave Pouch - cost 60s, sell 5g

Chameli Banaphash
Purple Turban - cost 99g, sell 199g
Violet Hat - cost 55g, sell 149g

Total Costs: 2850g
Total Sales: 4903g

Total Profit: 2053g (Excludes AH fees)


So look at that, 2053g profit for 20 to 30 minutes of work and that is based on only selling 1 of each of the items I have listed. This can become a very easy additional gold stream to your gold making business. Also people for some reason do buy Resilient Parchment off the auction house. Yes, I know what you are thinking, their idiots right. Well it does happen and it sells for 5 to 10g. I am also working on an outland supply guide so be on the look out for that in the near future.

Thanks for checking out my limited supply guide!

Monday, July 26, 2010

Leveling Inscription


As I was quick to find out lately is that inscription is a major gold maker. As many of you may know leveling it can be a major pain. Lower level herbs are hard to find and are really expensive on the auction house. Some low level herbs run for 60 to 100 gold a stack!

Now I am all about maxing out the amount of gold making time I have available and going out farming these herbs are not top of my priority list. Now in Dalaran there is an NPC, Jessica Sellers, who allows you trade ink of the sea for various lower level inks. The problem low level scribes run into is they cannot mill northrend herbs so they are unable to get ink of the sea. But there is a solution, find a high level scribe to mill herbs for your. I was fortunate to have a guildie who was able to mill all of my northrend herbs since they are much cheaper on the auction house. I was then able to take all of the inks he milled for me and trade them into Jessica. With lightening speed I was able to power level inscription quicker than Lebron James jumping ship to Miami.

If you don't have a guildie or friend who is a scribe you can always ask in trade chat for a scribe. Offer to pay 50 to 100g for them to mill your herbs. Heck you would have paid that much just for one low level stack of herbs.

Thanks for checking in!

Saturday, July 24, 2010

Starting from Scratch - Week 2


This is a weekly series where I detail my gold making adventures of my new alt warlock while I level to 80. It's a project that I am doing not only for myself but also for all of you to see how much gold can be made while leveling. I will receive no financial support from my other characters. The only support he has is three BoA items chest, shoulders, & staff. This will be a learning experience for me as well! Armory Link Here

Only reached level 20, so about a level and a half. I had very little time to level this character but I did spend some time getting his mining up so there was plenty of copper ore to sell.

Here is the breakdown of what I sold this week,
green 1 h mace - 11.41
green 2h axe - .97
Delicate Copper wire x5 - 3.81
ruined leather scraps - .10
linen clothx2 - 1.90
Pattern: Red Linen Robe - .10
Wool Cloth - 19.1
green mail pants - 5.71
shadowgem - 1.91
Copper Ore x6 - 119.46

Total Sales: 164.47

Bought
Riding Skill 3.50
Mount .90 (Yes I got the dreadsteed through skills, but I wanted a wolf =] )

Total Gold: 425.63

Copper Ore is easy gold, it's always in demand. I will try to put some effort next week in leveling the lock up. I'd like to get into the next zone and see what I can find to sell.

Thanks for checking in!

Friday, July 23, 2010

Snatch Tool


If you want to make yourself into a powerhouse and own the markets I highly recommend using the snatch tool. The snatch tool is built into auctioneer and its main purpose is to find items you need at low prices. For example, I want to buy up all stacks of northrend herbs at the price of 15g or less. Using the snatch tool it will give me a list of herbs that have fallen below this price threshold. Then I can buy up all of the herbs and sell my glyphs or flasks with nice profit margins.

Buying up cheap materials allows you to control markets and take serious market share from your competitors. If you have a great profit margin you can keep undercutting your competition to the point where they can no longer make a profit all the while you will still have gold coming in.

Here are the steps,
1. Run a Fast Scan (Double Blue Arrow)
2. Click on Search Tab
3. Click on Snatch (Left Hand Menu)
4. Add an Item (If you don't have an item on you to add you can whisper your self the link then shift click the link)
5. You must enter the individual price of the item, not the stack, so for a stack of herbs you would enter 75 silver if you wanted stacks at 15 gold.
6. Hit Snatch
7. If any herbs show up for 75 silver or less snatch will list them for you to buy.
8. Purchase up your items and collect them out of your mailbox!

Now go snatch your way to riches!

Thursday, July 22, 2010

Inscription Tomes


If you are looking to boost your gold making in inscription I would recommend making epic off-hands along with your glyphs. The two tombs you can make are [Faces of Doom] & [Iron-bound Tome]. There is always a demand for these tomes because for new characters starting out it can be difficult to find epic off-hands prior to raiding.

The cost of making either one of these tomes is around 35 to 40g. It can be even lower if you find a good deal on a frozen orb. On my realm these sell for 250 to 270 gold. Wowhead data shows an average realm price of 215 to 250. Just making a couple of these per day can make you a 400g profit or 2800g a week! I never have an issue selling these tomes as they are always in demand.

Thanks for checking in!

Wednesday, July 21, 2010

Runecloth in Cataclysm


If the current reputation turn in system stays the same runecloth will be a very wanted item come expansion. Currently you can turn in runecloth over and over at any capital city to gain exalted reputation with that faction.

So I am planning on at least loading up an entire mule's bank just with runecloth. If a player turned in cloth from honored to exalted they will need around 220 stacks of runecloth. Right now prices for runecloth are sitting at 5 to 7 gold but if prices spike to meet this incoming demand then you could see possibly upwards of 20g a stack or more. Even if you had 220 stacks to sell at a high price of 20g that would turn into total sales of 4,400 gold.

If you are looking to farm runecloth I would recommend farming Stratholme or Expedition Armory in Hellfire Peninsula. Either will pull around 300+ cloth an hour but I personally will be farming Stratholme because I'm an enchanter plus you make pretty good coin selling all the trash. Check out my post on farming Strat as an enchanter Here.

Now this could all change if blizzard decides to change the way reputation will work in Cataclysm. I have searched for blue posts on this topic but have found nothing so far. For now we can assume that the current system will stay the same and goblins & worgens will have cloth faction turn ins too. If this holds true then this will be a very lucrative market to make some serious gold.

Thanks for checking in!

Tuesday, July 20, 2010

Weekly Update 7-20


Well here is a recap of my last week in gold making. Bling Bling!

Sales:
Jewelcrafting - 6200g
Enchanting - 1200g
Inscription - 1200g
AH Flipping - 1100g

Not a great week, I wanted to focus more on gold making but I had to work a lot of late night this week at work so I only focused on jewelcrafting since it's my main money maker.

Total Liquid: 45,388g
Total Invested: 15,000g
Total Assets: 60,388g

Two nights ago I found a player selling off his stock pile of epic gems. I dropped 10k on uncut epic gems that cost me 80g each. This was a great find because I was buying most gems for around 90 to 95g since demand had risen and now this will give be a huge advantage against my competitors. I will be able to really undercut them and still make a profit if I need to go lower than my normal profit threshold. I was also very low on my gem stock pile so buying up around 125 gems really helped.

Spent the last three days playing with inscription and I made a little bit of gold. I am still trying to streamline the whole process but once I get into the swing of things I should have no problem cranking out some gold on this profession. I need to spend some time this week trying to get all of the glyphs available, I think that will really open up some opportunities.

This week was a tough week when it came to auction house flipping. I literally found very few deals and the ones that I did find were for low profits. Mainly I flipped some eternal life, frozen orbs, and crusader orbs. I found very little leather, ore, and herbs this week to flip. I've noticed more competition in auction house flipping because I am finding it more and more difficult to win minimum bids like I had in the past.

Thanks for checking in!

Monday, July 19, 2010

iLevel 264 Gear - Price Drop, Don't Be Fooled


Over the weekend I noticed a market crash on all iLevel 264 gear on the auction house. Normally these items were selling from 4k to 8k depending on the piece but now I am seeing prices have fell to 2k to 3.5k gold.

The great thing about this is you can get your gear score up very quickly with this cheap gear if you have a new character. The bad news is you can be stuck in a bad deal if you were planning on flipping these because your auctioneer data is now skewed. I would recommend not buying 264 epics to flip until the market stabilizes. Since we are on the tail end of the expansion I find it highly likely that these prices will not return. You also have the issue where the crafted 264 items are increasing in competition as more and more players enter the market.

Side Note:
I am really excited because I am very close to have 50k liquid gold. This is a big milestone for me considering I am a casual player and normally only have 3 nights a week to really play the game. I of course am worth more than 50k in total assets but it will feel great seeing the actual number. I would have had this accomplished already but I did spend gold building a retribution set and buying a epic belt of the lonely noble for my holy set. I got it for a steal! 1.5k buyout on the auction house, I couldn't resist.

Thanks for checking in!

Sunday, July 18, 2010

Wish I Had Been Doing Inscription Sooner


I finally got off my lazy butt and started working inscription. By using quick auctions and a snatch list for herbs it has become very easy money. I don't even nearly have all the glyphs yet and it is still sick gold. I'm dumb for not doing this sooner but being a casual player I can't get too mad at myself.

I ended up setting quick auctions 3 to a post limit of 2, 3 gold price threshold, and a 60g fallback. I am going to have to send all the glyphs to an alt though and have that toon do the posting because I am running out of inventory space between all the glyphs and the mats to make them.

I really thought competition would be tough on my realm since it's mid to high population but I haven't encountered anyone who uses quick auctions. I make every single glyph I have but I am only being undercut on 1/4 of the auctions I post. I think I have a real opportunity to own the glyph market on my realm and make a killing. I just really hope that inscription is still profitable come cataclysm with the changes where you only have to buy a glyph once and keep it forever.

I'll post an update later in the week detailing the amount of gold I've made. Thanks for checking in!

Saturday, July 17, 2010

Starting from Scratch - Week 2


This is a weekly series where I detail my gold making adventures of my new alt warlock while I level to 80. It's a project that I am doing not only for myself but also for all of you to see how much gold can be made while leveling. I will receive no financial support from my other characters. The only support he has is three BoA items chest, shoulders, & staff. This will be a learning experience for me as well! Armory Link Here

Lock is at level 19 now and very close to 20. I tried out the random dungeon at low levels and it is amazing! I had 2 to 3 minute queues and was getting a level every 2 runs. I found another person looking for guild signatures so I earned another 5g from that.

Here is the breakdown of what I sold this week.
Copper ore 8.56g
Light Leather x2 2.37g
Green mail pants - 3.57g
Buckskin cape - 9.51g
tribal Pants - 4.76g
feral bindings of stamina - 3.81g
rough stone - 10s
small red pouch - 13s
guild sig - 5g
Shadow Gem - 5.91g
Shadow Wand - 14.26g
malachite - 97s
hunting tunic - 3.81g
hunter's muzzle loader - 1.91g
Delicate Copper wirex6 - 2.86g
copper barx20 - 13.31g
green tunic - 1.91g
green AP dagger - 3.81g
green cloth leggings - 3.81g
Tribal vest - 1.91g

Total Sales - 88.45g

So I'm up to 207 gold now and I haven't bought anything this last week besides talents. The downside to doing the randoms is I get less items to sell so I am going to return my focus to questing for the time being.

The only item I flipped was a stack of delicate copper wire that I bought for 10 silver and I have been selling for 3g each. I am not going to focus on flipping with this character but if I stubble across one while I'm on the auction house I am still going to pick it up.

Thanks for checking in!

Friday, July 16, 2010

The Exchange System


Here's some tips on making gold when you're raider/pvper and you need no more gear. I currently fall into that category on a couple of my characters where I can use my emblems and honor to make gold. I do love the fact that you can play the game all while making money and you really are not even thinking of that facet of the game while doing so. So ask yourself, what the hell am I doing with all these emblems and honor? If you have been hoarding them for later use you may find that you have had a hidden gold mine this whole time.

Using honor to buy gems is a very common practice for hardcore pvpers who have nothing else to use honor on. 10k honor will net you 1 gem, so typically one wintersgrasp where you complete all of your quests will give you enough honor for 2 gems. So 200g a week just off doing 1 wintersgrasp (If you are reselling the right gems; if you are a JC your cuts are going for much more).

I've been using emblems of triumph to buy crusader orbs in exchange for 15 emblems. These typically sell for 120g and it's so easy to get 30 emblems in a day. I normally buy two of these each day just by running some randoms with guildies. You can use 23 emblems of frost to buy one primordial saronite. Depending on your realm these can sell from 500 to 700g, that's some serious gold. If you are a raider you should have no problem buying two of these a week. It does make me sad that the price on these have plummeted, when I first did this method months ago I was getting 1300 per primordial!

You can also trade in frozen orbs to the Dalaran npc, Frozo the Renowned, who trades various eternals and orbs. You may be able to trade in for eternal fire or life and get a great deal selling them on the auction house if prices are right or just lowering the costs of craftable items to increase your profit margins. I like to trade in frozen orbs for runed orbs because I can normally make a 30g to 50g profit since it only costs 4 frozen orbs to trade in.

Thanks for checking in!

Thursday, July 15, 2010

It's Good to Have Business Relationships


You may have read my post the other day where I was complaining about the lake of supply on uncut epic gems which was due to the increased competition I've seen in jewelcrafting markets. Last night I was finally able to build my gem stockpile back up!

I keep everyone I buy bulk gems from on my friends list and I ask them to do the same. Letting them know that I will always buy their gems if they have some for sale and that they can C.O.D them to me if I am not online. Over the last 3 to 4 weeks I hadn't bought any gems off these usual sellers, for whichever reason. But last night the floodgates opened! All these players starting whispering me asking to sell large quantities of gems and I was more than happy to buy.

With a little social networking you can build yourself a nice supply chain. I always do my best to joke around and b.s. with these sellers in hope that they will remember me and put me on their friends list. You have to build a relationship with these players, if not they will just sell to the first person that whispers them or opens a trade window. I've learned from watching trade chat that players selling in bulk will sometimes just sell to the first person who opens a trade window even if they told you that they would sell to you. It's aggravating but now I do a /target [their name] and find them as quick as possible, then open a trade window. This guarantees me that I will get the buy.

Thanks for checking in!

Wednesday, July 14, 2010

Quick Tips


Short post today but here are a couple easy gold making tips.

Delicate Copper Wire: I hadn't even thought of making this till the other day my friend who is an engineer was needing some and asked me if I could make it. Jewelcrafters can make this at level 1 and it is needed for repair bot 74a by engineers. This bot has to be made first before you can make the Jeeves repair bot. This wire is literally an untapped market because no one even bothers to make this wire and post it on the auction house. If you can find good deals on stacks of copper then you can easily sell these wires for 4g to 10g each!

Elementium Ore: This is a great item to flip on the auction house, it is needed to craft the legendary Thunderfury which players still want either just to have or for their twink alts. These sell for anywhere from 300 to 500 gold! Most players who pick these up from a black wing lair achieve run have no idea how much these are worth and will sell them for 50 to 100g.

Thanks for checking in!

Tuesday, July 13, 2010

Weekly Update 7-13


I only played three nights this week since I was gone for vacation most of the time. It was pretty low numbers as a result.

Sales:
Jewelcrafting - 4500g
Tailoring - 1800g
Auction House Flipping - 4000g
Enchanting - 2000g

I didn't even touch my other professions if you are curious where those numbers went. I also spent around three grand gemming and enchanting my new ret set I built for my paladin and I loaned a grand to my friend who got hacked. When they finally restore his account I will get paid back.

Total Liquid = 42,200
Total Invested = 10,000
Total Assets = 52,200

I found some really good deals this week on crusader and frozen orbs. Someone posted a stack of frozen orbs for 180g and I resold each of them for 20g. It was a quick 220g profit. I also bought 5 crusader orbs that someone posted for 45g each! I guess they were needed gold quickly for posting at that price. I resold the crusader orbs for 120g each for a profit of 375g. (Excluding AH fees)

I also did my usual epic flipping, a few blacksmithing plans and found a couple great deals on epic gear. I had a hard time buying up cheap low level items, like ore and cloth, seemed like someone else kept doing auction house scans after I went to bed bidding on all those items.

Thanks for checking in!

Monday, July 12, 2010

The Negatives at the End of an Expansion


We are all seeing it now, demand falling, prices plummeting, and more competition. To me that's when you know you are at the end of an expansion. It's my fault for not trying to reach gold cap earlier in the expansion but now I am stuck in a period where my opportunities to make gold are going to be even more restrictive.

I can see this now in the jewelcrafting markets, I see so many new competitors all because they eventually worked their way up to all the epic JC plans finally. So you have this situation where demand has fallen for epic cuts but demand has increased for raw epic gems. How so? This is a direct result of competition increasing in the market place. These players are trying to build their stock as well so everyone is buying up uncut epic gems. But since demand for cut gems has fallen the profit margin between an uncut gem and a cut gem is very slim to none. This has strained my stock pile as well. Even with me posting in trade every night, using my honor to buy gems, and messaging my typical bulk uncut sellers, I have not been able to maintain a descent stock pile. I find myself running out of certain gems frequently. For example, on my realm Bold Cardinal Rubies sell for 105g all while uncut cardinal rubies sell for 105g as well.

It's tough right now and will be till Cata releases. That's why it's critical to have as many professions as possible to make gold with.

How have some of you dealt with these market crashes? I'd love to hear your stories.

Thanks for checking in!

Saturday, July 10, 2010

Starting from Scratch - Week 1


This is a weekly series where I detail my gold making adventures of my new alt warlock while I level to 80. It's a project that I am doing not only for myself but also for all of you to see how much gold can be made while leveling. I will receive no financial support from my other characters. The only support he has is three BoA items chest, shoulders, & staff. This will be a learning experience for me as well! Armory Link Here

Well I leveled my lock last night to 13 for 4 hours played, I screwed around before vacation with the fire festival activities if you are wondering where the time went =]. I really lucked out last night as a player was paying 25g for guild signatures. By the time I got over to him he only needed one more signature for his charter and when I signed he payed him 50g instead of 25! This was initial boost I was looking for! Also a reminder, my professions are skinning and mining.

Here is a list of items I bought,
Netherweave bags x3 11g = 33g
Green Wand = 2g
Common items to fill slots = 80s
Total Spent = 35g 80s

Items sold,
Copper Ore stacks x3 = 42g
Linen Cloth stacks 4x2 = 8g
Peacebloom x5 = 10g
Light Leather stacks x2 = 12g
Rough Stone stacks x4 = 4g
Shadow Crystal = 2.5g
Total Sales = 72.5g

Total Gold = 93g

I really believe I could have made so much more gold if I spent more time mining. Copper has ridiculous demand since it is always needed for leveling blacksmithing and engineering. But with that said I only mined nodes that were near me while questing, I did not go looking for any nodes. I may have to later just in case I don't have enough skill points when I move to the next zone.

So excluding the 50g I received from a guild charter I still made 43g just off selling items I collected on the auction house. That's really good money for a level 13. We will have to see how many levels I can pull this next week. Maybe I can get another guild charter =p.

Thanks for checking in!

Friday, July 9, 2010

Auction House Flipping - All The Areas I Cover


In todays post I will be staying out of the Markco vs Gevlon spat and will be talking about some other areas you may not have thought about when it comes to auction house flipping. The tips I am offering up today are excellent tips for players that want to jump right into the auction house markets and may not have professions available to make gold.

Eternals
Flipping eternal fire and life is probably the the biggest area of flipping that I currently do. These markets continually get flooded from time to time and when this occurs I can create large stock piles to sell later. For example, eternal fires normally sell for 20 to 35g each depending on market fluctuation but there are times when the market is flooded with fires and prices plummet to 9 to 15 gold each! I will wait for markets to reemerge and resell them all at a handsome profit. Another great method I use is breaking the eternals down into crystals and sell them each for 3 to 3.5 gold. On my realm there is very low competition for crystals so it's easy gold.

Enchanting
You will need a few auction house scans built up so you have some data to work with on this method. Once you have some price histories built you can begin flipping enchants. There is many twink enchants out there that can be bought for 100 to 200g and resold for 400 to 700 gold! Also be on the look out for the enchant healing power to weapon, it's +29 SP, this is an enchanting plan that drops in Molten Core. PuGs looking for achievements usually don't know the value of this enchant and will sell it for nothing! This is a very rare twink enchant that can be worth over 1000g.

Epic Gems
There is so much fluctuation in epic gem markets that if you are patient you can make some serious gold. If you look at my What I Sell list you can view the most demanding gems to work on flipping. You can do this for cut or uncut gems. There can easily be a gem market that can plummet in an evening, especially mid day before raids. For example, Fractured Cardinal Rubies on average sell for 130 to 170 gold but there are times when demand drops and prices will drop as well. I have seen prices dip all the way to 100g which make for a very good profit margin on a flip. Buy up these gems and wait till the next evening where prices will recover quickly and repost these gems up for 20 to 50g profits!

Glyphs
When it comes to glyphs you really have to know what you are doing. Auctioneer data can be really skewed when it comes to glyphs because there is such heavy competition and undercutting wars can really break loose. I suggest that you only flip glyphs that are in higher demand. I wanted to at least write about this aspect of flipping but I no longer flip glyphs on my auction house toon. I have in the past but it was probably my most unpleasant part of the auction house.

Epic Gear
I've made a few posts on flipping epic gear in the past and it is a great money maker if you can find the deals. Lately I've found that BoE ICC gear has been a target market for me. I think I am finding soo many deals because players get impatient with getting the gold. I have been able to buy these epics for 1.5 to 2k, some off minimum bids, and resell them for 4 to 5k!

What areas do you flip? I would love to hear what other players are doing.

Thanks for checking in!

Thursday, July 8, 2010

Vanity Items in Cata


This is more speculation than anything, I began thinking that vanity pets and other vanity items that are needed for achievements will be in huge demand come expansion. My reasoning is that players will create new characters and want to match their main's achievements.

A good example of a pet that could possibly be worth farming for is [Azure Whelpling]. This pet may no longer drop come cataclysm since the mobs it drops from will be removed. I am still waiting for confirmation but this could be worth farming or staking out on the auction house for some good deals. This pet could bring in several grand if it turns out to be removed from the game. If anyone has confirmation on this please let me know.

Another thought I've had is the [Reins of the Crimson Deathcharger] that only high end raiding guilds can obtain. When expansion launches this item will be very limited in supply as raiding guilds will quit ICC content. It will be difficult for players to put together groups to go and farm these items in cataclysm. I rarely see anyone putting groups together to run old TBC raid content so I figure it would be the same for wotlk content. You could possibly be able to buy this mount for 20 to 40k gold now and resell it for 80 to 100k after expansion launches. Again this is all speculation but this is very realistic scenarios. Let me know what you think.

Thanks for checking in!

Wednesday, July 7, 2010

I'm Back


RL
I got back from vacation around 4:30 this morning, 0.o, and the 14 hour drive was killer. But the week on the beach and coming back with a nice tan was good. Maybe next time I will fly, not sure if I can do that drive again. If you're wondering, I drove from St. Louis to Myrtle Beach.

WoW
Obviously there isn't a weekly update this week but I did log in earlier and checked my existing auctions I had posted when I left last week. Only pulled about 700g out of my mailbox and my remaining stock of gems and enchants. I notice that my epic gem auction house camper is still at work. I can tell this person has no life to speak of, they are online damn near 24/7. If they do have a life then I assume they are using a bot. Hopefully this is just a high school kid off for the summer so this may be temporary.

This player is constantly undercutting my gems within 5 minutes of me posting. It is getting really irritating so I may have to build a stock pile and start undercutting by 5 to 8 gold each time to force them out of the market. They are only undercutting by 1 copper. But I like a good challenge so it should be fun.

Thanks for checking in!

Tuesday, July 6, 2010

Blind for so Long


No Weekly Update Today, still on vacation.

Yup I was blind. Like the teenage couple that thought they were in true love. Oh how they found out how the real world works. Just crushing isn't it ;) I was blind too, on how to make gold and keep. I was always in this vicious cycle even since I started wow years ago where I would get a few hundred gold and blow it. Then I was always stuck not being able to enchant my gear or buy upgrades. Heck in several of the raiding guilds I was in it was a struggle just be able to pay my repair bills. I was embarrassed to borrow gold from guildies and friends just to pay my repair costs.

I feel foolish now and can only wish I was doing what I am doing now years ago. I would have millions of gold now if that was the case. In vanilla I always farmed to make gold, eventually you want to hang yourself after several days of that. When dailies finally came out I thought that was the way to make gold. I did as many dailies as possible each day and I was like "Cool!! I got a few hundred gold!" that I would instantly blow on whatever. It was frustrating to always be in that situation and I always thought there was some magic method that people were using to be rich in WoW. Isn't that what everyone thinks when they don't understand something? That there is some secret that you don't know of.

The gold making secrets...well are not secrets, but are right in front of you as soon as you create your level 1 character. Who would have thought that capitalism and real economics would ever come into play in a virtual world. That's how dumb I was years ago.

Over the years I NEVER had over 6k gold at any point of playing WoW before I went on this gold making journey. The times I had that much gold were to pay for epic flying. It was the only thing that I would actually save gold for because I didn't want to be left behind. Talk about keeping up with the Joneses right?

If you have had issues making gold in WoW like I had, just think about what I've been talking about the last couple months. Think about how supply and demand can work in your favor. Think about how things are sold in the real world and how those ideas can be applied in WoW. I've seen some very creative methods over the last year and I'm sure we will see even more when cataclysm comes out. So go make some gold, get rich, and bling out your character =]

Thanks for checking in!

Monday, July 5, 2010

Starting from scratch


I am going to write a series each week detailing my gold making process with my warlock. I am interested myself on how much gold can be obtained without any help from my other characters just by leveling 1 to 80. Since I have so many crafting professions I am going to make my warlock a miner and skinner. These will be easy to level while I'm trying for 80.

I shouldn't have to bother buying much gear at all, he currently has the BoA shoulders, chest, and staff. I will only buy upgrades off the auction house when there just hasn't been an upgrade in the past 10 levels from quests. I figure that after 10 levels obsolete gear would be a hindrance to my leveling speed. Currently he is at level 5 with about 4 silver after buying the level 4 talents.

I am going to sell any materials I collect on the auction house and sell off all the leather and ore I collect. The mining will come in handy for jewelcrafting later once I have it maxed.

If you have any suggestions on gold making while leveling I would love to hear! This will be new for me since in the past my main focus was just getting characters to 80.

Sunday, July 4, 2010

Finding Work


You may have leveled all these professions to become an auction house master but there are other ways you can make gold with your professions. Using trade channel as an additional revenue source is great! You can use professions like jewelcrafting and enchanting to find work at the same time that you are working the auction house.

So many players over look trade chat postings for people looking for an enchanter or jewelcrafter. Either for a couple of reasons, they don't want the hassle of dealing with someone directly or they think they will get shafted on the tip.

While I'm posting my auctions I always make myself available for these trade posts. I will see people requesting over and over in chat common cuts or enchants without every getting someone to do it for them. That just shows how much my competition is not even working that corner of the market. Most players will tip 10g to 30g for a cut or enchant. Yes, occasionally you will encounter a player who doesn't tip or gives you 2 to 5 gold. When this happens I just keep my mouth shut and say thank you. It's still a few more gold that I didn't have and it's only taking a minute of my time if that. If they don't tip I write their name down on my blacklist so I don't waste my time.

In a given week I can make several hundred gold by doing this while doing all my auction house work at the same time. For example, this last weekend I made a few hundred gold just by helping people in trade chat. There was some serious demand for gem cuts all weekend and I was doing my best to help =]

Thanks for checking in!

Saturday, July 3, 2010

Starting Out - Limited Capital


Short post today but I wanted to talk about starting out with gold making. It's amazing how easy it is to make gold. Even if you have zero professions you can make descent gold playing the auction house. Regardless of what server you play on it can be done, even low pop.

Starting off with low capital, do auction house scans and look up trade materials with low minimum bids. Heck I still bid on this stuff! Everyday I put bids on copper ore, wool cloth, low level herbs, and various leathers. These items can usually be bought for very little silver and flipped for 10 to 20g a stack.

Once you build up some gold from these auction house flips you can start investing in vanity pets from dalaran or netherstorm. These pets can be flipped for serious profits. Then you can move into flipping even bigger items such as orbs, primordials, eternals, etc. It all takes some time but in the matter of a couple weeks you could easily earn enough gold to flip even epic gear! Then you will be flipping battered hilts and...you see where I am going with this.

Anyone can make gold in this game, it all depends on how you want to play the game. Do you enjoy playing the auction house? farming? crafting via professions? gathering? dailies? Any of these are great ways to make gold but do what you enjoy doing. It's your $15 a month anyway. I offer a lot of great methods and strategies on this blog but I don't tell you how to play the game. I just hope you pickup these ideas and find the one that fits best for you.

Thanks for checking in!

Friday, July 2, 2010

Killing the Competition


Sometimes I think I can just push out my competition with deep undercutting based on my own stock. But sometimes that just isn't enough. I know, I am becoming more and more cut throat as I play the auction house game but I want to be number one.

Depending on the market and how cheap I can get my materials from farmers I usually have very wide profit margins. That being said when I encounter an auction house camper that undercuts me every damn 10 minutes I pull out the guns and start doing some deep undercutting. I begin by cutting by 4 to 5g each undercut. Eventually they won't be able to make a profit and they will give up. It happens, they don't have the supply nor the profit margins to keep up. I find it hilarious when they continually cancel their existing auctions to undercut me all while I have a quick supply on hand to repost.

Sometimes it gets nasty. Yup, I start throwing uppercuts and roundhouses all over the place! I will undercut as far as taking a loss. I don't care. If it drives my competition out of the market I will remake those small losses. This is something I learned a while back from Stockpile and I was skeptical at first but then I tried it, it worked. Grant it you need to be competitive like myself to get your self into this mentality but it is quite invigorating when you pull it off.

Something I had to do recently was own the netherweave bag market. It started getting really competitive and it seemed like I could do nothing to kill the competition. It looked like they had ridiculously big profit margins to work with. I was selling bags at cost and still couldn't get rid of them. Then I had an idea, I will start farming the cloth my self since supply was low anyway. I can farm 640 cloth in one hour on my paladin running outside of black temple. That's 32 bags an hour. Now my time does not equal free gold, I'm not that dumb, but it does allow me to push these clowns out of my market.

I began posting bags at super low prices, prices that were impossible for them to make a profit on. After doing this for three days...they all quit posting. I then was the only person on the realm selling netherweave bags! I of course jumped the price way up and had my run of it for a while. Anytime my competition comes back for more I just post more up at super low prices again! Rinse and repeat. I know dirty right? It's what I really enjoy about gold making, competing and winning!

Thanks for checking in!

Thursday, July 1, 2010

Running out of Supply


What to do when you run out of supply? This is a very important issue when it comes to gold making. There will be times where you will walk into some serious demand in certain markets. When this happens you may easily clear out 20 to 30k of inventory in the matter of a weekend and be completely tapped out. It's all good, you made some serious gold but how are you going to keep on having a revenue stream coming in from those markets?

Sometimes there will be no supply left on the auction house and spamming chat looking to buy in bulk can take some time to find a seller with a large quantity of mats. When this supply drops normally the amount of crafted items will be limited as well and prices will sky rocket. With a little speculation you can buy crafted items, for example a cut epic gem at 120g all while raw gems are selling for the same price. Eventually the cut gems will increase in price and you will be able to flip the crafted items for some descent profits.

I've done this quit a bit in jewelcrafting and enchanting markets. I've been able to buy up patterns that have very small profit margins if any at all, if I made them myself, and flip them later as demand spikes so will the prices. Some patience is involved but this way you can maximize your gold revenues while supplies are down.

Another point is there will be times where some materials will cost more than the rest of the materials you are currently making. When this occurs you can use the same method as above but just sell off your other materials. You can use that capital to invest in the items you are going to flip. I highly recommend that you have some experience in the markets you are wanting to work in and have an idea of how market fluctuations have been at least over a month's time. This experience will help you immensely when flipping crafted items.

Thanks for checking in!

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