Tip #5: Investing Long Term and Selling Short Term
Initially, there will be a huge rush for items and you should try your best to get everything you can up there for maximum profit. Relist your stock a lot and often. You don't have to get into bidding wars, but watch for people pushing your stock by multiple pages of items. Setup QA3 and go nuts during cataclysm's release.
You will want to keep about 20% of your stock (unless you are just making an absolute killing) for inflation. Although you may think you are making killer amounts of gold, there is a chance that inflation will set in and become even better than what you're selling during release week. I sold fade leaf for 45 gold a stack during the crazy days of inscription's release week, and yet now I see it sell for 50 gold + some days. Inflation is an amazing tool, use it and don't ignore the possibility of it occurring over time. By making 80% of your sales early on, you will cut all your investment losses and be healthily in the black. But trust me on this... what you think is a lot of gold at the start of cataclysm will be a small amount of gold, however you have to take advantage of the demand and sell off most of your stock or you'll be left with mats until the end of cataclysm! Especially if you are planning on stockpiling like I am.
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2 comments: on "5 Tips to Making 1 Million Gold in Cataclysm - Tip #5"
Editor of SF Tech Beat said... April 5, 2010 at 2:59 PM
you forgot oppurtunity costs. You can make teh gold and invest in stuff to make more gold.
What you are sayig is in 3 month the price of fadeleaf went from 45g to 50g, that means a 5g more profit in 3 months times X amount of fadeleaf stacks?
You could obviously make a lot more money by taking the 45g initially and reinvesting in that cause Heck wiht most professions you can return 5g more in a few days.
And also inflation is BS, because everything get inflated not just your items, sell early and hard, reinvest.
Anonymous said... April 5, 2010 at 10:34 PM
The only problem I see is what should we set are prices at? 500% 300% 200%, i mean theres obviously going to be a lot of demand, so setting up QA3 with all your stock at 300% or more should be ok right? I'm just worried about what to set prices at.
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