Day 6 of 20 Days of Gold Making.
6. Which market has made you the most gold over the years?
This...is a tough one. I think I'd have to go with Jewelcrafting, but Glyphs would certainly be second.
My main has been a Jewelcrafter since it became my main in Wrath, but I also made her a scribe at the start of Wrath as well (and have Realm First! Grand Master Scribe to prove it too!).
In order of total profit, I'd guess:
Jewelcrafting
Glyphs/Shoulder Enchants
Enchanting (tied)
Darkmoon Cards (tied)
Pets
Elementals (Stuff like Volatiles, Crystallized Fire, etc)
Crafted Gear
Overpowered MoP Blues (stuff like Bjam's Door Breaker)
Transmog Gear
Miscellaneous
Glyphs can be an extremely profitable profession, but takes a lot of time to maintain and create stock, even in the best conditions (little to no competition). In the worst conditions (AH White Knights and/or lots of competition), it can drive you insane. White Knights will not only uncut you, they'll undercut by large amounts, often below crafting cost. Heavy competition will constantly undercut you, often by small amounts, but extremely frequently. You'll fight to make precious few sales, and possibly question your sanity after cancelling and reposting 300 auctions 10 times in 1 hour. Not saying I've done that or anything...
Jewelcrafting, by and large, is consistently profitable. Obviously competition plays a factor here, but right after big (read Raid) patches, people are buying gems so fast that undercutting isn't an issue. As a matter of fast, buyers sometimes drive prices up by buying all of a particular gem up, allowing the first seller to restock to effectively set a new price point.
Enchanting is steady as well. Max level enchanting scrolls almost always sell above crafting cost. And like gems, they've sold like wildfire since 5.4.
Time is money friend!
Oh, and the title? It's a quote from O Brother Where Art Thou?
Friday, October 25, 2013
Friday, October 18, 2013
Combo Post - Bank Alts
Day 4/5 of 20 Days of Gold Making.
I don't think I have enough to say about these two individually to make a solid post. So, combo post!
Day 4. Do you use a banker alt/guild? When did you start doing that & why?
I definitely use a bank alt. It was created back in BC in order to have a central place to mail all my materials/stuff to sell. As I got more "advanced", it was helpful to just have auction mods turned on for one bank toon, rather than all of my characters.
I created an alt guild for the character shortly after, and started using the guild bank immediately after it was implemented. Guild banks were a huge boon to gold makers. The ability to have all of your items accessible on one toon was a game changer.
Day 5. Do you keep the same banker alt or do you change them up occasionally? Why?
I've had the same bank alt since it was created; I don't change them. It's probably more due to laziness than anything else. I just don't want to take the time to set everything back up for them. And on my server, I don't find a need to. No one talks much about the big sellers, and we very rarely talk amongst ourselves. I don't think most people even look at the seller's name when buying. I use Auctionator for buying, so the seller name isn't ever displayed. (Note, I use TSM for nearly everything. I just find Auctionator more effective for buying).
At one point, I used my enchanter/scribe as a second auction toon, simply for convenience, for glyphs and enchant scrolls. At that time, both toons were in the consistently among the top sellers on The Undermine Journal. However, I've since exited the glyph market (mostly), and now I just sell everything under my "main" bank alt.
Cheers!
Sunday, October 13, 2013
We Interrupt Your Regularly Scheduled Blog Post...
Another Milestone hit! Double gold cap; 2 Million on one side of one server. I knew it was coming eventually, but very happy to be here.
Around 6 months ago, I was sitting on about 1.5 million gold. And then, a Mimiron's Head showed up on my server's BMAH. While I contemplated gold capping it, I took the risk and didn't. I ended up getting it for 525k, which honestly, seemed reasonable. Back when Ulduar was current content, my guild was doing Alone in the Darkness (and we got server first on it). We got probably 10 Mimiron's Head, and about the same amount of Invincible's Reins. Unfortunately, not only did I not get either one, but several people in the guild got BOTH mounts. Which honestly, was incredibly selfish of them. But so it goes. The next Mimiron's Head that showed up on our BMAH went for gold cap. And I don't think another one has shown up since.
Anyhow, after I won Mimiron's head, I spent another 200,000 or so buying a bunch of vendor mounts to get over 200 mounts for the upcoming achievement. I slowly starting building back up. But then a Rocket Chicken showed up. Boom, 150k gone. A Hippogryph Hatchling showed up, goodbye 60k. Oh look, a Dragon Kite, sayonara 50k. So the spending spree knocked me down quite a bit, and I started working my way back up.
5.4 has been amazing for selling. I can hardly gems and enchants stocked. I blew through my stockpile of Golden Lotus and Ghost Iron like it was nothing. Lotus is up to 60-70g now, primarily due to the gem market being so active. Ghost Iron is slightly above normal, but the supply is pretty low.
I had leveled an extra engineer prior to 5.4, bringing me to 3. Now granted, I wasn't counting on a huge profit from the mount and pets. But I knew I wanted a mount and the 2 pets for myself. I figured having another to sell a couple pets or mount would be a good idea. I made a mount and learned it the first available day. Then I made a couple pets. Reason being, mounts aren't selling, and people are undercutting each other faster than a hooker's panties drop on payday. But the (admittedly overpriced) pets aren't selling either. At least there's little to no competition there.
Best of luck in your gold making adventures!
Around 6 months ago, I was sitting on about 1.5 million gold. And then, a Mimiron's Head showed up on my server's BMAH. While I contemplated gold capping it, I took the risk and didn't. I ended up getting it for 525k, which honestly, seemed reasonable. Back when Ulduar was current content, my guild was doing Alone in the Darkness (and we got server first on it). We got probably 10 Mimiron's Head, and about the same amount of Invincible's Reins. Unfortunately, not only did I not get either one, but several people in the guild got BOTH mounts. Which honestly, was incredibly selfish of them. But so it goes. The next Mimiron's Head that showed up on our BMAH went for gold cap. And I don't think another one has shown up since.
Anyhow, after I won Mimiron's head, I spent another 200,000 or so buying a bunch of vendor mounts to get over 200 mounts for the upcoming achievement. I slowly starting building back up. But then a Rocket Chicken showed up. Boom, 150k gone. A Hippogryph Hatchling showed up, goodbye 60k. Oh look, a Dragon Kite, sayonara 50k. So the spending spree knocked me down quite a bit, and I started working my way back up.
5.4 has been amazing for selling. I can hardly gems and enchants stocked. I blew through my stockpile of Golden Lotus and Ghost Iron like it was nothing. Lotus is up to 60-70g now, primarily due to the gem market being so active. Ghost Iron is slightly above normal, but the supply is pretty low.
I had leveled an extra engineer prior to 5.4, bringing me to 3. Now granted, I wasn't counting on a huge profit from the mount and pets. But I knew I wanted a mount and the 2 pets for myself. I figured having another to sell a couple pets or mount would be a good idea. I made a mount and learned it the first available day. Then I made a couple pets. Reason being, mounts aren't selling, and people are undercutting each other faster than a hooker's panties drop on payday. But the (admittedly overpriced) pets aren't selling either. At least there's little to no competition there.
Best of luck in your gold making adventures!
Friday, October 11, 2013
Once More, With Feeling
Day 3 of 20 Days of Gold Making.
This fast turning into 20 Months of Gold Making. So much going on for me in real life, I rarely take the time to try to blog/write anything that isn't assigned/required. But I digress.
Day 3: What were the first techniques/tricks/tips you used when starting out?
Early on in Vanilla, all my auctioning was done manually. While mods existed, I wasn't aware of or even knew to look for AH mods. I'm not exactly sure when I started using Auctioneer, but it had to be sometime in Burning Crusade.
There weren't any dailies in Vanilla, so that wasn't an option. Flipping wasn't even on my radar. So I either had to farm stuff to sell for gold, or get gold directly from mobs. I chose the former.
For me, that mostly meant farming fire elementals in Un'Goro Crater. As a matter of fact, that farming at least partially inspired the first WoW video I made. Be warned, this video is 7 years old now.
I spent a lot of time farming Essence of Fire, Elemental Fire, and Heart of Fire. While doing so, I made a few acquaintances. Gold farmers. You see, back in the day, gold farmers actually farmed gold and items. Truth be told, I'm conflicted about that kind of farming. If someone is willing to legitimately farm items, and someone else is willing to pay real money for them, the capitalist in me is ok with that. However, I know it's against Blizz TOS and the condition in which gold farmers lived was abysmal. But since gold farmers don't actually do this anymore (I guess they still farm raids maybe?), it's no longer much of a question.
While not focused on much by gold bloggers anymore, this still actually works pretty well. Farming high demand items is quite profitable, even looking at the time it takes and opportunity cost. It's probably worth your time to farm ore these days, though herbs not so much. Herbs have tanked in 5.4, save Golden Lotus.
In past expansions, farming elemental items could be especially lucrative. But in MoP, that died with Spirit of Harmony. There's pluses and minuses to that change, that's probably a good topic for a separate post.
I hope you enjoyed this little trip down memory lane. Sorry I don't have many early tips/tricks from when I first started. Gold making wasn't on many people's radar back then.
This fast turning into 20 Months of Gold Making. So much going on for me in real life, I rarely take the time to try to blog/write anything that isn't assigned/required. But I digress.
Day 3: What were the first techniques/tricks/tips you used when starting out?
Early on in Vanilla, all my auctioning was done manually. While mods existed, I wasn't aware of or even knew to look for AH mods. I'm not exactly sure when I started using Auctioneer, but it had to be sometime in Burning Crusade.
There weren't any dailies in Vanilla, so that wasn't an option. Flipping wasn't even on my radar. So I either had to farm stuff to sell for gold, or get gold directly from mobs. I chose the former.
For me, that mostly meant farming fire elementals in Un'Goro Crater. As a matter of fact, that farming at least partially inspired the first WoW video I made. Be warned, this video is 7 years old now.
I spent a lot of time farming Essence of Fire, Elemental Fire, and Heart of Fire. While doing so, I made a few acquaintances. Gold farmers. You see, back in the day, gold farmers actually farmed gold and items. Truth be told, I'm conflicted about that kind of farming. If someone is willing to legitimately farm items, and someone else is willing to pay real money for them, the capitalist in me is ok with that. However, I know it's against Blizz TOS and the condition in which gold farmers lived was abysmal. But since gold farmers don't actually do this anymore (I guess they still farm raids maybe?), it's no longer much of a question.
While not focused on much by gold bloggers anymore, this still actually works pretty well. Farming high demand items is quite profitable, even looking at the time it takes and opportunity cost. It's probably worth your time to farm ore these days, though herbs not so much. Herbs have tanked in 5.4, save Golden Lotus.
In past expansions, farming elemental items could be especially lucrative. But in MoP, that died with Spirit of Harmony. There's pluses and minuses to that change, that's probably a good topic for a separate post.
I hope you enjoyed this little trip down memory lane. Sorry I don't have many early tips/tricks from when I first started. Gold making wasn't on many people's radar back then.
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