Ask A Gold Guru - 1/6/11

Posted by The Lost Meeple at 11:00 AM

Today starts the gold guru column at JMTC, and I'm very, very excited about this, I'll start things off with a reader asking when the market will turn out to be that finished goods sell for more than the unfinished good.

" Currently on my server, raw mats for many professions are more expensive than the finished material. We know this is because of people leveling up their professions. My question is: When will this turn around? I know it's very server specific, but any estimates as to a general time when people will focus more on buying the finished products instead of flooding the market with them?

(A little more info) My main crafting focuses are JC, alchemy, and engineering. After some gathering, it's very hard to justify making anything to level myself right now. I can sell the uncut gems for more than the cut, the herbs for more than the potions, and the ore/bars more than engineering products (other than the pets). My JC isn't maxed yet, but I can sell the uncut meta gem for 600g. If I cut it into a meta, it instantly depreciates to around 150-400g. As a lover of gold, I end up selling the uncut. So that is why my question comes into play. It would be kind of nice to know a turn around point when I won't lose as much money, if not make money by doing a profession. Thanks for all the great help, and look forward for things to come! "

- Tyler

My response to this e-mail is as follows:

" It's very hard to tell when the turn around will be, my best guess is that whenever your server starts raiding, the prices of items will slowly start to rise as there will be a bigger demand for gems, potions, flasks and everything raiding.

Selling the uncut product isn't bad, if it's making you more gold than selling the unfinished product, I don't see anything wrong with in my eyes. Profit is profit, I understand where you're coming from but, I've been selling some of my common gems for 30-45g per, when the cut ones go for barely 10g. It's great gold, it's very easy gold, sure it brings down the price of cut common gems, but I really could care less as I'm making a profit off the uncut ones. Are you losing gold selling the uncut? By that I mean, is it costing you more gold to CRAFT the item than for what it sells for unfinished?

Do keep in mind, that you can't be in every market, it's very hard to do so, and not every market is profitable ( flasks are a great example right now - no raiding on my server, low demand, high supply, flasks sell for less than what they cost to make ). Also keep in mind that sometimes, on some items people are able to acquire materials for cheaper ( perhaps a farmer, or self farmed ) and they think that selling an item at 25% market value is profitable, after all, they did obtain the materials for free ( which is completely incorrect ).

I can't really tell you when your server will turn around, but like I said, my best guess is when your server starts raiding. "

Best of luck,
Mageshadow

Next up, we have a reader asking on how to make gold while still leveling enchanting. Many people think that while leveling enchanting takes a ton of gold and it doesn't have good returns while leveling, well I'm here to prove otherwise :)

" Hey Markco, I started reading your blog Just My Two Copper a few weeks ago, and I would just like to say that I love with all of the available information that you have. I have been playing wow since early BC xpac and have always had problems making gold. The most i ever had at one time was the 5k for my Epic flying and I achieved that just from Daily's and not spending any of it except for ammo/arrows and repairs..... Currently in LK I have never been able to stay above 2k for very long till just recently as I am not really playing my main Hunter so I have a little over 3k now on him and started to level a Shaman to be my Auctioneer char with Enchanting and Mining with thinking that both of them should give me some decent profits. and so far it seems to be working but most of it has been from mining ore and smelting them to post on the AH or living it as ore so JC's can prospect it. However, I am wondering what would be the best way while leveling to sell, either enchants or Mats from enchanting?? I am grinding for my Crusader enchant right now on my Main to see if can get that to drop but no luck so far.... Do you know of any low level enchants that would be good to sell or should I just stick to Mats and sell them. "

Thanks.

- DragonNightz

My response to this e-mail is as follows:

" Enchant Chest Major Health & Mana are also good enchants to craft, as they're used in BOA Chest pieces often. The profit margins on both of these are huge.

The Gnomish Coin did a post about BOA Enchants long, long ago but it's still useful as most of the listed enchants still sell very well and for huge profit margins. While some of them do require reputation grinds, it's worth putting the time into them. The ones I personally love selling are Enchanting Weapon - Strength, Enchanting Weapon - Mighty Intellect and Enchant Bracer - Healing Power, mostly as not many people have them and their profit margins are outrageous.

If you can get your hands on the new Enchant Cloak: Stealth grab it. It requires reputation with the Cenarion Expedition. This will be one of the top sellers in Cataclysm due to the new BOA Cloaks coming soon. This enchant can also drop off bosses in AQ 20 & 40.

Also, Enchant: Boots Minor Speed, Enchant Weapon: Crusader, Enchant Weapon: Mongoose and Agility to 1H & 2H are also great sellers. "

Best of luck,

Mageshadow

Last but not least, we have a reader asking for help on how to handle Saronite ore, as well as make gold with alchemy and herbalism, read below!

" Hello Markco & Mageshadow!

I am so glad I came across your blog many months ago and I love your tips that get emailed out. I've been able to grasp some of what you are trying to teach - but mostly I'm still lost.

The good:
First of all, since reading your blog, I went from 12kgold to 21k gold since Cata began. While that may not be a huge amount - if you knew how long it took me to get to 12k you'd understand how this IS huge to me.

I'm an Alchemist/Herbalist and have been making good money on Cata herbs and a select few potions, flasks and elixirs, namely, Mythical Mana potion (50g/ea) and Flask of Strength and of the WInds.. Not to mention that heartblossom, twilight jasmine and whiptail go for around 200-400g/stack on my server.

Another money maker is in Smuggler's Scar (i believe?) A vendor sells plans: adamantite rod and plans: Eternium Rod for about 5-10geach. I've been able to resell them for about 40g ea. So far that's all I've been concentrating on.

The Bad:
I bought a LOT of Saronite Ore after reading a pre-Cata post of your explaining that this would grow in price after cata. I bought the ore at about 19-30g/stack and so far on my server it's been sitting at 21g/stack. What to do?? Sit on it and wait?

The only addon I use is Auctioneer and I don't even know how to use most of its functions.
I need some help - some baby steps I guess so I can make more gold, keep my eye out for XX or YY, etc.
Can you help me?? I would be much appreciated. "

- Jerry

My response to this e-mail is as follows: 
" Ah, Saronite ore, The good ol Saronite ore. I did a post about how to Diversify Saronite Ore back in December, it has all of the proper ways to use the ore, while still yielding the best profit. I have found out that recently, Saronite bars have sky rocketed ( they're sitting at 190g/stack ), so this might a be good option to check out. There is still some ore left on my server, it's being posted at 17-20g, so you're better off either smelting them and selling them in the raw bar form, or prospecting and doing the old Saronite shuffle.

For making gold with alchemy: use your transmute: living elements cooldown, it can turn 15 volatile life ( generally it's cheap ) into any other volatile. I turn mine into airs, as they go anywhere from 45-60g per. Also, check the price of truegold and determine if it's profitable, on my server, you can yield a profit of about 200g per truegold, meaning the living elements transmute is the way to go.

 I have been making a killing selling potions ( mana/healing/dps stuff ) and the potion of illusion as well. ( make them and spam in trade something like - hey want to be somebody else? Now you can be with [ Potion of Illusion! ] )

If you're having problem with Herbalism, go farm whiptail in uldum, it sells for about 220g per stack on my server, you can farm tons of it as well, in uldum. Check out this JMTC post. "
Best of luck,
Mageshadow


Well that's it for this week guys, keep sending in those "Help me" E-mails and I'll try to respond to them as fast as I can, and if it's good enough, it might just make it in next weeks, Ask A Gold Guru post.