This article was written by Preston; if you are interested in reading more articles from Preston then please let us know in the comments on this post!
Tonight I was skimming through the JMTC forums when I came across an interesting post. The post seemed simple, and was, until I really thought about it. The subject line. What items should I buy and sell? The guy had 32g to his name and had just server transferred. So he most likely only has the one character on this server. I read through a few replys and was taken aback when no one really helped the guy. That made me harken back to when I first "REALLY" started making gold. Way back...about a month ago. Ok maybe not so long ago but hey it sure does feel like it now that I'm much better at it. I didn't know where to start. What websites to use. I didn't have any AH add-ons. I was kind of...lost. I knew how to resale items from Wrath and BC but that's pocket change compared to what I make now. So I decided to create a simple 5 step list to making gold in Warcraft.
Like I said earlier. I started about a month ago with about a 1000g and now have about 200k. Even though it was 1000g I could of done it with no gold...without a doubt...no problem. Right now according to my appraiser in trade skill master I make 11k a day PROFIT with about 2-3 hours work. More time than most others spend but I like my grind and I'm out of school for the summer...but 3.5-5.5k an hour? I'll take it...
This would be my priority list:
1. GET TRADE SKILL MASTER - study it, dissect it, watch guides, gently carress it with tender loving care, buy it dinner, than inseminate it with your man love and create your golden army. One example site to go to for help with this addon is 20k Leveling and watch their tutorials on setting up everything you'll be well on your way.
2. Get Auctioneer / Auctionator - these add-ons are extremely useful. USE THEM!!
3. Watch your servers market - watch the items your gonna get involved with for about 4-7 days and scan your AH using any of the add-ons above to create a market value and min buyout for these items. This will help you know how much people are paying for an item and also how to set your prices to profit. Once you start selling trade skill master will save your purchase price and sell prices than save all this information into appraiser to show you your profits.
4. Level alts - this might be more of a long term addition to your gold making efforts but trust me when I say that this is where you'll start making REAL chunks of gold. Right now I have maxed out: Mining/Blacksmith...JC/Alch...Eng/Ench, and I NEVER farm. Time = Money and I can make more on the AH than I can farming. Basically I buy ore, smelt it, craft stormforged gear with BS, send to ench to DE into Heavenly Shards and that profits anywhere from 20g-100g per piece. Combos like this pay off really well. I can also prospect ore on my JC....craft Jasper/Alicite/Hessonite rings and ammys than DE them on my enchanter and sell the mats or sell high end enchants for even more profit. I mean ALOT of profit. If you can afford it get your level 75+ alts on the same server or just level more. Remember leveling pays REALLY well also. 70-85 is easily 15k in gold just from quests and sold quest items if you actually quest.
5. Buy low...Sell high - use your addons and look through herbs/ore/ench mats at least once a day and buy anything that's priced low than sell it for more when you know the markets right. If you setup your add-ons right you'll be able to quickly see a percentage of market value and buy. I try and aim for around 40% of market value, but only on items I KNOW will sell. Sometimes this takes experimenting with markets but you'll learn what sells and what doesn't within time. If you do this consistently you will effectively create a threshold for that market that you can reset at least once a day and you'll always be getting that item when it's the cheapest. Than that one day when there's none on the AH guess what? You use your stock to set your own prices and make a KILLING. When you're always buying items cheaper than anyone else it's easier to still profit but also underbid when you need to. If you bought it cheaper than the next guy resaling than you can effectively push him out of the market or cause him to lose gold on the transaction.
Always remember anything worth having is worth working for. If you want quick cash go solo Firelands trash until they fix it and you'll be left with no way to make gold beyond that. You'll truly be the man with the fish instead of the man who knows how to catch the fish. Sooner or later you gotta eat. Than what? Patience equates to buying a certain product when it's cheap and waiting until its stock rises than selling it off. Yeah you can sell it now for a gold profit per item. Or you can wait a day and make 10g profit per item. This is why you need to know your market because sales like that are well worth the wait. The last and most important tip is to have fun. I love working the AH. I still raid and still pvp, but honestly I LOVE earning gold off of smart, savvy, gold making strategy. Knowing I'm competing for someone elses gold makes me love waking up every morning and checking my mail for gold. It's like Christmas every day. GAME ON!
11 comments: on "5 Tips for Wow Gold"
Lifedream of Black Dragonflight said... July 8, 2011 at 8:42 AM
Hi guys,
Recently I have been tripping of the phrase, "do the basics excellently"! That is what this article is saying, "do the basics excellently". I think this article pinpoints the "basics". I couldn't agree more.
Yes, I liked this guys article and yes I would like to see more from him.
Lifedream of Black Dragonflight
jimmyolsenblues said... July 8, 2011 at 9:18 AM
1) Google 22 steps to auctioneere
2) if TSM trade skill master is too hard , i keep ZeroAuctions works great. not as complext as TSM
3) Get a second account, I make more gold cross faction trading trade materials than anything else, it doubles your crafted buyers.
4) iphone remote auction is fantastic for picking up cheap mats whereever you are
5) learn undermine journal nothing is better than getting an email that essence of air just went on for 2g each or primal might for 5g just got put up on the ah.
Silverthorn said... July 8, 2011 at 9:44 AM
While there's good advice in this article, it seems to have missed the mark somewhat. It's a little hard to be certain, since there's no link back to the original post in te JMTC forums (the link in the post was simply to the forums themselves).
There are some important questions to ask before a strategy can be recommended.
Number 1 is: what is the level of your highest level character on this server and what are his/her professions? Number 2 is: what faction? Number 3 is how much gold do you need? And last, but not least, how much time are you willing to spend on gold farming?
How much starting gold they have is important, but these other questions help narrow down the scope as well.
At this point, all we know is that the player has more time than money. Some specific, simple, low-level strategies may be more to the point. Those can be used to get to the point where the AH flipping and crafting strategies can take over.
Sapu94 said... July 8, 2011 at 11:33 AM
1) Best TSM guide I've seen is:
http://consortium.stormspire.net/showthread.php?1724-The-Consortium-Addon-Series-TradeSkillMaster-Addon
There are a bunch of other good ones linked at http://tradeskillmaster.wikispaces.com/Tutorials
Stede said... July 8, 2011 at 11:41 AM
Another TSM guide can be found here:
http://consortium.stormspire.net/showthread.php?1625-Guide-Trade-Skill-Master-Addon
Chris said... July 8, 2011 at 3:04 PM
Unfortunately, I don't much care for this article, at least not without an editor.
The sentences, aside from having the occasional wrong version of a word used, tend to ramble and have more than a little convolution, which makes the writing a bit tiring to read. Also, some of the recommendations are a bit on the generic side. Most of the people that are reading JMTC already have the basics down; they're looking for ideas they haven't heard of before.
As a whole, I'd say that the author shows a little promise, but this particular article fell a bit short.
scottiegazelle said... July 8, 2011 at 6:13 PM
Vendor recipes in major cities for either faction can be flipped with low lvl alts and minimal effort. Running around the city sux when you're on foot, but that kinda thing makes for the quickest, easiest gold. And I'm talking cheap things
/cough cooking recipes /cough
Adam Paul said... July 8, 2011 at 6:31 PM
I thought the article had a lot of great content in it. Its kinda unfortunate that people can't read these articles and look at it for the content and not bust the writers balls for their writing ability.
Lifedream of Black Dragonflight did you by chance get hooked on the saying "do the basicls excellently" from my article early last week?
Dicci said... July 9, 2011 at 3:26 AM
Although these are common tips, they are (as Adam said previously) getting back to the basics. These sorts of points are crucial to maintaining a good flow of income. The point about knowing your market is regularly overlooked. People go in guns blazing, and expect to make easy gold when this is not always the case. Knowing your server is half the battle!
I do agree with one of the other comments that Preston started out writing about "what you should buy and sell" from the forum post, and instead went off to talk about your gold making setup. I suppose he kind of linked it back with the "buy low, sell high!" part... But this writer shows promise.
Anonymous said... July 9, 2011 at 7:52 AM
repost of a repost of a ... you get the point.
Preston said... July 9, 2011 at 10:02 AM
Thanks for the feedback guys. Good and bad it all helps. I tried helping the OP in the forums in the short term, mid term, and long term. Yes there were a few questions I could of asked the OP to maybe get a better feel for their situation, but I felt it was trivial. Old Character, New Server, 32 gold. Honestly, I don't even need that much info to set him on the right track. If I had a night to sit down and break it all down I would but we'd still start with these 5 steps and move on from there. It's not called 10 steps to getting started ;) Most of our lists would be different but like my dad used to say. "There's more than one way to skin a cat." Hopefully I can have more articles coming your way very soon so keep checking in!!
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