Minimum Profit Potential.

Posted by J.E. Douglas at 12:35 PM

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Mommar here.

Yesterday as i was puttering around Orgrimmar a player was emptying out their guild bank.   Items they were selling were mostly junk items,  some even from the beginning of World of Warcraft time.

As they were listing items some gems came up.   Mostly gems from Wrath (Alicite,  Dark Jade etc.).   Now one of my favorite old markets was the Wrath version of the shuffle.   Taking a combination of Alicite,  Dark Jades or the other gems during that time frame and craft rings/neck pieces.   At that point you could decide either to vendor them or to sell them.

In today's market most of these items sit on the AH with the occasional sale.  Quickly they become vendor bait or Disenchanting bait.   Still even with those decisions made an interesting profit can be made with a few non thinking crafting decisions.

But it did bring up the mental Roll-a-Dex to decide just what the limit in my quest for profit would be.  In everything i have shared with you,  one of the biggest decisions that a gold goblin has to make is determining what is worth their time.  Is crafting an item to sell for 100g just as valuable as crafting one for 1000g.

I dislike immensely being non productive when I'm playing WOW.  Either I'm doing dailies on my main or my alts,  crafting for others in my unofficial clan,  sorting through items to sell or gazing longingly at the auction house and new mounts showing up (500,000g for a Feldrake brought a little drool).   The continual question for me is am I using my minimum profit potential on all I sell.

Next time that you look at something and say 'that's not worth my time',  decide whether that small amount of profit might add up to a large fortune.   Every little step gets you to the top of the gold pile.

Good Luck and Good Hunting


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Don't Fret Young Farmer

A Perfect Circle Of Goblin Life

Posted by J.E. Douglas at 8:00 AM

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Mommar here (again,   someone else is going to be writing these things?   You've miss me too much)

About a week ago I entered an article called Profit Calculation 101 - GPH.   It was chuck full of math parts, digits,  symbols that only fed to the small math nerd in all of us.

But there was one thing that I hope you caught that was wrong with the calculations.   A couple of people wrote to me about them.   The math was correct,  but it was all dependent on a perfect circle between crafter and purchaser.

Think of this as the Gold Goblin version of the circle of life (No,  I will not be singing the song thank you).  A crafter obtains the raw materials. This is done via the auction house,   contacts with your own cartel or farming them yourself.   The crafter makes and prices the item for sale on the open market.   These are the only parts that are directly effected by the crafter.  

The problem with the GPH equation I offered and our perfect circle of life is the need for buyers.   Value is a subjected issue when it comes to crafting.  Any real life collector knowing what their doing will tell you that an item is only worth what someone is will to pay for it.   You can have a 100,000 dollar baseball card according to the Beckett's baseball card manual.  But unless someone writes you a check for the money,  it's worth nothing.

The same idea applies to everything that a Gold Goblin crafts.  A Gold Goblin producer can make neat items from all of the expansions.  From Mechano-Hogs to Copper Bars can be produced continually if the materials are available.  But the value is only worth what someone is willing to pay.  You have a minimum amount that a vendor is willing to pay for an item.  So that can be considered your base value for an item,  but do that too often and you will be a poor Gold Goblin.

So our perfect Circle of Gold Goblin life has to be developed with not just the production of items,  but the knowledge of who is going to purchase the item.   There are certain items that you can list over and over it's a relative guarantee they will ultimately sell.   But as an expansion continues,  the profit margins for each of those items become less and less.  Demand becomes less and less as players purchase vanity items and upgrades.  

That knowledge that we search for,  knowing the ebb and flow of people buying is what sets our standing on the food chain.   The idea that we can list the right items,  at the right price and continue to produce gold out of raw materials.  

Okay,  I admit it,  I started whistling the song as I was finishing the entry.  Ignore the writer,  he got a little dust in his eye.

Good Luck and Good Hunting


Want to get in contact with me? . Email me at Dragonbearjoe @ gmail. dOT com or find me on twitter at "@JMTCMommar" You can find me hanging out on the Shandris Server, chat me up and I will buy you a glass of juice. 

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Profit Calculation 101:  GPH
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Old World Farming

Posted by J.E. Douglas at 7:00 AM

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Mommar here.

One of the most important parts of having a well oiled crafting machine is materials.   Many times it is easier to buy materials from the Auction House and craft items for a profit.

But as expansions start to grow older,   materials from those expansions become more and more rare.   After the surpluses of materials such as Netherweave cloth and illusion dust have been burnt through by crafters,  these items start to get a little bit more expensive.

As a gold goblin,   the words expensive can generally be turned into our favor.   Soloing dungeons in Burning Crusade or in Wrath of the Lich King areas are continuing to be profitable.   3-4 drops of green items for the non enchanter and cloth drops can add a hefty sum of profit.   Having a tailor available to make bags brings the profit margin even higher.

Most level 85+ toons can blow through Burning Crusade and Lich King dungeons without the need to slow down.   Classes with AOE attacks can make short work of these dungeons.   With the simplicity of group looting available looking large amounts of mobs takes a few seconds,  where before it took minutes to look for the sparkles on dead bodies.

So in your weekly search for materials,  plan a few old school runs for materials and get a jump start on your crafting profits.   And while your at it,   enjoy a few gloats of dominance over the bosses that gave you the biggest headaches.

Good Luck and Good Hunting


Want to get in contact with me? . Email me at Dragonbearjoe @ gmail. dOT com or find me on twitter at "@JMTCMommar" You can find me hanging out on the Shandris Server, chat me up and I will buy you a glass of juice. 

Previous Entries


Shake Off The Bad Days
Secret Of  My Success.html
Know Their Roles
Flipping Off The Competition
Kyparite: The New Pyrite
Pilgrim's Bounty For The Educated
Is Your Cartel Happy?
Brawlers Guild: Your Killing Us Here
Change of Scenery
Mists of Pandaria in 5 words

Steel Negotiations

Posted by J.E. Douglas at 11:01 AM

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When travelling through the twists and turns of tradechat,  many times players will see advertisements to sell their Living Steel alchemist transmute.

This can be a lucrative business by itself.   Prices ranging from 200g to 450g using their materials.  It's a quick profit that doesn't require the use of the auction house.   But there are always a few questions that pop up from time to time.

If your a transmute specialist you have the chance of transmuting more than one Living Steel each time.   Many players will watch on their general category tab to see what is actually transmuted in the chance that theirs is an extra item produced.  In some players mine they feel that the extra item is theirs since it was their materials used to produce the Living Steel

As the crafter of the item you have every right to offer them the item they paid for and keep the proceeds.  Whether in a production setting 24 candy bars are produced or 36 candy bars are produced the price remains the same per candy bar.  The same with other options in a production setting.  The consumer is paying for the item itself.  

But there is a train of thought that continues to the idea that the buyer is paying for your time.  The production item is the reward for paying for your time.   As the Gold Goblin code says,  time is money.

The best idea is to make sure that you have this understood ahead of time before you transmute anything.  If you are barking in trade chat to sell your transmute,  use the idea that any extra items transmuted can be sold to the player at a discount.  They pay for the timer at 400g,  any extras would be available for sale to them at 250g a piece extra.   This may seem like a loss to some.  But in a highly competitive market,  any extra gold can add up quickly. (This applies specifically to Transmute specialists)

The other key to being successful in this area of sales is to keep an eye on the competition.   Players will start a quick bidding war for the transmutes.  Rates begin to drop like stone from 500g to 400g to 300g attempting to get a consumers attention.   Don't get caught in a bidding war so that you start to cut into profits.   Your baseline profit margin should always be available.  If you can get 350g profit from the auction house from listing your item,  that should be your cut off point to sell the timer itself.   Otherwise you are letting someone else dictate your profit margins.

Barking your Alchemist timer in trade can be very beneficial to your Gold Goblin Profit line.  Knowing the balance between profit and ease can put you on top of the negotiations.

P.S.   Xsinthis from the Consortium forums is sponsoring a Warcraft gold census.   Take a few minutes and add your voice.  http://xsinthis.net/survey/index.php

Good Luck and Good Hunting


Want to get in contact with me? . Email me at Dragonbearjoe @ gmail. dOT com or find me on twitter at "@JMTCMommar" You can find me hanging out on the Shandris Server, chat me up and I will buy you a glass of juice. 

Previous Entries

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