Hey guys, Alerick here again with another gold-making strategy for you all. This week, I am going to be discussing an important part of every WoW economy; Bind on Equip items. These are pieces of gear, usually epic ones, that can be used to make colossal amounts of gold, and can sometime be regarded to as an investment as they may or may not take a long time to sell.
Now on to the good stuff. These are some things you should either have know before dealing with BoEs.
1. Know your market.
Before making an investment in a BoE item, know the population on your server, is it large?how quickly can I move this item? What type of consumer base is there on my server? Is your servers economy doing well? If so, people will be more willing to spend their gold on items like this, or pay more for an item they would have bought otherwise. Know the value of the item your selling. Don't make a blind investment. How much has it sold for in the past? Do some research on the item before buying it. BoEs can also change drastically in value from server to server, so I can't stress enough how important it is to know the market you're dealing with. Be conseverative with your purchases. Don't run off and buy a bunch of BoEs that are decent investments but might take months to sell for a profit. BoEs are high risk, high payoff items, so a good move could lead to major profits, but a bad move could make you lose gold.
2. Know the demand
Know the demand of the item your considering buying or selling. The last thing you want to do is step into a market, and invest in a BoE that's two patches old, and wasn't even a good seller then. Know which BoEs are the best for certain classes. Maybe a best in slot item is BoE, this would be an excellent investment if you can get it for a good markup price. Know what items there is a shortage of in heroic dungeons, and early raiding tiers. Basically, know your demand. If there is no really good item that drops in heroics or t11 raids, a player would be prompted to buy one off the AH, and thats when the time is right for you to be the one selling that item. Know what classes you're aiming your sales at, and make sure the itemization is right. If the stats aren't ideal, the item may not be worth an investment.
3. Use trade chat.
Trade chat is one of the best sources in-game to find excellent deals. Many entrepreneurs and goblins alike choose to filter out trade chat just because of it's foolishness and immaturity. What goes mostly unnoticed though, is that it is one of the best places to find deals. People selling items off the AH in bulk for a discount. Uninformed players trying to get rid off an item they deem to be worthless but is in fact the opposite. This channel can be an excellent gold maker, and if you take some time to look at it more in depth once in a while, it could be worth your while. Also, unlike the AH where there is an unchanging price, buying from a person in trade chat usually allows for some negotiation with the seller. Use whatever style or tactics you want, this is when real world bartering skills come in handy. Anything goes.
If you ever see someone in /2 chat selling something your interested in, don't hesitate to stop and send them a tell. More often than not you will be blown away by the asking price, but if you learn to negotiate, you can easily come to a decision that will net you heaps of gold. If you see an item on the auction house that has been up for a while, or just want to give it a shot and see if you can get the seller to listen to you, send the auctioneer of the item a thoughtful well written in-game mail asking a lower price or negotiation. This tactic has proven itself over and over again for me. You can achieve great deals by doing just this to the seller of an item, and creating more profit in turn.
4. Examples of good items to look for
These are few of the items I keep an eye out for at a good price:
Both pairs of the ilvl 359 tanking shoulders; Heaving Plates of Protection and Pauldrons of Edward the Odd. There aren't many pre-raid tanking shoulders available. Unless you want to spend countless ZA runs trying to get the ilvl 353 12 percent drop rate shoulders that "never drop" (I know from experience), picking these up for a good price is an excellent investment. Both pairs of shoulders are visually appealing, and are almost identical stat-wise. They are very well itemized also. Fresh level 85 Pallies, DKs, and Warrior tanks will be going after these if they can get their hands on a pair. These fetch anywhere between 15 and 25k on my server currently and just two weeks ago I picked up a pair and flipped it for 10k.
The ilvl 378 Obsidium Cleaver 1h axe that drops off of trash in Firelands. Even throughout the regular version of the raid, this is a best in slot item for dual-wielding DKs. This axe also serves the purpose of being a well itemized tanking weapon for both Paladins and Warriors. These are in EXTREMELY high demand, and picking one up cheap will result in an easy to move, profitable(if you can find a good price for one), investment.
Darkmoone Faire volcano and tsunami cards and decks are still profitable. Know the market values of these on you server. Since both have been around for quite a long time now, there should be some solid market information on them. If you can pick one up cheap using a tactic listed above, go for it. Also be sure to know whether or not the faire is in town, because the value of the actual cards is at its highest right after the faire is over because it won't be back for another month. You can usually find cheap decks during this time because they are useless until the faire comes around. This is a great time to make smart investments. The tsunami card with intellect is an amazing PvP as well as PvE healing trinket. The volcano trinket is also excellent. Through two patches, this trinket remains one of the very best for a lot of caster classes especially an arcane mage. It is better than every other Firelands trinket for an arcane mage except for the one off Ragnaros which recently got buffed, and didn't used to be any good. Both darkmoon card investments are worth a shot. Follow these rules and you will be set for making some gold with BoEs!
For more interesting gold tips, or if you would like to contact me, you can get in touch through my twitter @AlerickF
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