Just My Two Copper - WoW Gold Guide

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Long Term vs Short Term Profits

Posted by J.E. Douglas at 1:05 PM

Your Friendly Neighborhood Mommar here.

We're all looking forward to the Panda Invasion with Mists of Pandaria opening its gates. Every expansion brings new opportunities and new ways of making gold. Along with the classics that bring in the gold into the coffers.

Players are centering in on areas of market exploitation with new players leveling toons, as well as experienced players who want to try something new. All of them need items, items that the gold goblins on each server want to sell.

But with every investment you must look at when will it truly sell to make a profit? Certain items will be a no brainer when it comes to sales. Cloth, Ore, Bars, Dust and products that are in high demand will sell quickly and often. But some items it will be different, because they are dependant on how quickly new players will have the excess gold to spend.

Many players are chugging along in the Cataclysm expansion, picking up items such as pets, and vanity items. The adage of 'if they really want it, they already own it' is the bane of any gold goblin. The truth is that many investment items we are looking to sell, will be dependant on how much gold new players have. The expansion of markets of the old world will need this influx of players and their demand for products.

Players are becoming more and more intelligent when it comes to making gold in Warcraft. There is an influx of quality guides and forums that can give you step by step on how to make gold. The Trade Skill Master add-on even creates the opportunity to Semi-Automate gold making with professions. Gold will become more and more prevalent

The twist is that many investments, especially Vanity items such as pets will end up being a longer term investment. There will be sales of course to established players who on flights of fancy buy an item they want. But the new sales will take a longer time to become available.

When looking at your investments, categorize them into who your target sales will. Planning based on time and gold availability will set you up for more sales over a longer period of time

Good Luck and Good Hunting

Previous Entries

Two Accounts.. Twice the Profit
Thanks Uncle Scrooge McBlizzard
Goblins, Pandas and Blood Elfs O My
MOP Prep: Prepping the Farmer
MOP Prep: Get to the Points
MOP Prep: Reduction in Inventory
MOP Prep: Stuff to Gold, Gold to Stuff
MOP Prep: Setting the Lineup
MOP Prep: Setting up the Cartel
MOP Prep: Zero Balance Investment
The Secret For Investing for MOP
I know what the Rock is cooking (in PVP Gear)
How Much Effect Do Bloggers Have?
The Death and Life of Truegold
Time vs Gold Investment
Return to your Essence
Harmony - We Don't Need Harmony
Jewelcrafting dailies or something
Its All Attitude
It's the Little Things
The Doh Club
Psychol ogy of Selling

I know what the Rock is cooking (in PVP Gear)

Posted by J.E. Douglas at 1:17 PM

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Babysitting markets can become a tedious experience. As we progress to the opening of the gates of Mists of Pandaria, it's important to know what is still selling in a market and what sales can be slowed down and discontinued.

I personally have sold a lot of PVP gear with my Leatherworker and my Blacksmith. Between buying inexpensive materials on the Auction house, and my cartel providing materials. Production has been continual over the past year and a half. It was easily the #1 continual seller on many servers.

Even now PVP gear sells, and it brought into my mind exactly why it's still selling. We are still almost a month and a half from the expansion release. Most players are taking their wowcations due to being bored with the repetition of questing or dungeoning. Others are taking their family vacations, spending more time with their children and friends.

But there still exists a dogged community of players that are leveling up new toons, getting them PVP geared and beating the pixels out of each other. These are our target audience when it comes to sales of PVP gear. Where the days of 4000g sales per piece are long in the past, there are still good opportunities of producing items for 150g or less. The main pieces (Chest, Pants, Helm) many times can still sell for 750 to 850g.

There is a caveat when taking advantage of this. Going out and crafting 10 pieces of [Vicious Pyrium Breastplate] takes a chance that you will sell those for a profit before the release of Mists of Pandaria. If your server is still very active in PVP events then it isn't an impossibility. But many servers you may sell one or two, ending up with 8 in your inventory looking for a home.

To me the best strategy would look at what is selling on your server. Through the magic of TheUndermineJournal.com you can look at your individual server needs, and plan accordingly. Also look at just how many are listed by your competition. It's a safe bet that a undercut war could break out at any point. Being back to babysitting duty on a new money making progress can add just one more chore with little reward.

There is a skill in downsizing production to maximize profit while minimizing risk. Research will be your best guide towards that. Research on what your server is doing, and where it's plans are between now and the Panda Infestation.

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" or leave a comment here. You can find me hanging out on the Shandris Server, chat me up and I will buy you a glass of juice.

Previous Entries

How Much Effect Do Bloggers Have?
The Death and Life of Truegold
Time vs Gold Investment
Return to your Essence
Harmony - We Don't Need Harmony
MOP Prep: Get to the Points

MOP Prep: Reduction in Inventory

MOP Prep: Stuff to Gold, Gold to Stuff

MOP Prep: Setting the Lineup

MOP Prep: Setting up the Cartel

MOP Prep: Zero Balance Investment
Jewelcrafting dailies or something
Its All Attitude

It's the Little Things

The Doh Club

Psychol ogy of Selling

Jewelcrafting Dailies.... or Something Similar

Posted by J.E. Douglas at 9:00 AM

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The powers that be at the Blizzard control center have released the second part of their master plan for the Jewelcrafting profession. Along with the Zen Jewelcrafting token there will be a daily mechanic to produce the possibility of new patterns.

The whole thing seems to be revolving around having 3 of a specific color of raw gem. After you have gathered this, then you perform the spell based on the color of the gem.

There also is a wildcard Jewelcrafting transmute based on the BOP item Spirits of Harmony. The Transmute called Secret of the Stone ignores the normal Jewelcrafting timer so it can be repeated based on how many Spirits of Harmony you have (it requires 3 each time) So that gives you the possibility of multiple attempts to gain access to new patterns. Look for a lot of money to be sunk in this, and the base gems to get expensive from the start. Once the new Elementium Shuffle for MOP is found, this is going to be a huge advantage to Jewelcrafters.

The BOP nature of the Spirits of Harmony crafting material also gives a huge advantage to players that quest and enter into dungeons. It allows them to be able to craft items that other players can't due to the requirement.

The target gems needed for the Jewelcrafting transmutes will be:

Wild Jade (Green)

Vermillion Onyx (Orange)

Imperial Amethyst (Purple)

Primordial Ruby (Red)

Rivers Heart (Blue)

Sun's Radiance (Yellow)

With the big three gems coming from the Red Gem Camp

Delicate Primordial Ruby (+160 Agility)
Brilliant Primordial Ruby (+160 Int)
Bold Primordial Ruby (+160 Strength)

These will be the three that will be in demand the most. So grabbing these as quickly as possible and posting products for sale will be your first priority.

As with any new mechanic, something like this could change in a moments notice. Including whether there will be a guarantee recipe each timer period, or a "chance" at one. Both the token purchasing and the random pattern generator option will allows players to get into jewelcrafting quickly.

Good Luck and Good Hunting

Past Entries

Out of the Market Too Early????
Welcome to the Cult
Born to be Mild
Its a Date

Its All Attitude

It's the Little Things

The Return of Portal

The Rod Giveth and Blizzard tTaketh Away

The Doh Club

Wowcations

Psychol ogy of Selling

Value for the Buck

The Return of Vendor Prices

MOP Prep: Get to the Points

MOP Prep: Reduction in Inventory

MOP Prep: Stuff to Gold, Gold to Stuff

MOP Prep: Setting the Lineup

MOP Prep: Setting up the Cartel

Its the little things

Posted by J.E. Douglas at 9:12 AM

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Goblins who take a look at what they have sold over their gold making careers would be surprised at the different markets they have been involved in. From Epic weapons to blacksmithing rods. Reselling cloth to ore, the limits of where to make a single piece of copper is extraordinary.

With the removal of Blacksmithing rods from the game with MOP, this brought to my mind just what other items that were going to be small, but powerful sales in the future. To me finding these small niche items determines whether you are just a seller, or have reached gold goblin status.

I've preached the benefits of Netherweave bags simply for their popularity. They are the easiest to double your money on if you're a tailor. But other items that get lost in the shuffle include Salt Shakers from Engeineers. The Salt Shaker being used by Leatherworkers to craft Refined Deeprock Salt for professing lower level hides. This is one of those items that many leatherworkers won't go and try to find, until they need it. And that's when a gold goblin smiles and says thank you when they take the gold.

Other items such as Engineers and their Flying Machine (with it's bigger brother the Turbo Flying Machine). The farther that we get to the materials, the more valuable these items become as they are crafted. The key is to find items that a player could gather the materials for on their own, but find it's easier to just pay more gold for the item.

Engineers may seem like they are the only ones that have these items, but all of the professions have items that where small in nature, can have a big reward is sold right. From crafted mid level rings from Jewelcrafters. To Low level enchants from enchanters. All of these "small items" can add up to big profits as Mists of Panderia matures.

So as your winding down your sales for cataclysm, look to see what items in your profession crafting that will be in demand by new players, or players that forgot they needed these items. This is where your sales will grow.

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 "@Dragonbearjoe" or leave a comment here. You can find me hanging out on the Shandris Server, chat me up and I will buy you a glass of juice.

Past Entries

The Return of Portal

The Rod Giveth and Blizzard tTaketh Away

The Doh Club

Wowcations

Psychol ogy of Selling

Value for the Buck

Pokewow Goes to the argent Tournament

Blah Blah Blah

Don't Drink the Orc Aid

Whats the Frequency Mommar

The Return of Vendor Prices

MOP Prep: Get to the Points

MOP Prep: Reduction in Inventory

MOP Prep: Stuff to Gold, Gold to Stuff

MOP Prep: Setting the Lineup

MOP Prep: Setting up the Cartel

The Psychology of Selling

Posted by J.E. Douglas at 12:01 PM

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Psychology plays a huge role in how someone plays the auction house. There is a mental angle to being able to work the system. How you list items, resell items, flip product and advertise your trade items is determined on how you set up your mental processes.

Planning how you present your item and how you manipulate the auction house system determines exactly your sales options. Here are a few types of processes you will find players using:

The Home Run seller posts up auctions at the highest prices they can imagine. Their goal is to get someone who doesn't understand how to do a basic search on the auction house. So they see an item they really want, pay the cost of the item and then never realize that they have overpaid for an item. This many times skews the aggregator websites such as Theunderminejournal.com. Already high priced items end up becoming overpriced items if a gold goblin doesn't research more than one place.

The Grinder seller will continually post and reset auctions as they are undercut. So the auction poster will list 10 of their Bold Inferno Rubies hoping to sell one or two at a time. Rechecking to see if they are undercut, the player will repost undercutting the lowest posted item. The idea is to grind as much profit as possible out of an item. Most players end up falling into this category, especially in the Jewelcrafting and Enchanting professions. Grinding out profits is the base for many players goblin fortunes.

A minimizer will sell their product at the smallest amount to empty as fast as possible. Many times this type of seller will undercut everyone by 50%, figuring that they will pocket their profits quickly with less hassle. This again tends to skew the system, especially with semi automated posters. Auction House players find this type of seller the most annoying. The entire inscription/glyph profession on many servers crashed due to posting of glyphs at just above how much production cost. Causing many players to abandon the profession for other fertile soil.

The clueless seller has no idea how much a product is worth. They do not have or take the time to research how much something is worth. So they will listen to what "a friend" suggested or what rumor says it sold for. Usually they end up holding onto the product and resetting the auction time and time again till a kind soul, or reality explains to them that the price they are asking for makes the item non sellable.

There are other seller psychologies to be used. Even a combination of all of these options can be used, the important part is to identify not only your own patterns. But also identifying your competition to use their strengths and weaknesses against them.

What type of seller are you? Does how you sell effect how you view playing the auction house?

Good Luck and Good Hunting

Past Entries

Value for the Buck

Pokewow Goes to the argent Tournament

Blah Blah Blah

Don't Drink the Orc Aid

Whats the Frequency Mommar

The Return of Vendor Prices

MOP Prep: Get to the Points

MOP Prep: Reduction in Inventory

MOP Prep: Stuff to Gold, Gold to Stuff

MOP Prep: Setting the Lineup

MOP Prep: Seting up the Cartel

Burn Them Fires

The Pyrite Experiment

Go and Kill the King

No Ream First Achievement For You

Tipping Point

Pre expansion dusting and scrubbing

The world is your oyster

Selling for Dummies

Whats the Frequency Mommar?

Posted by J.E. Douglas at 12:29 PM

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Since many players are taking their Warcraft vacations now, it becomes more and more difficult to keep your gold income at the same levels. This isn't something new that I've been saying. If you have read any of my previous articles there are snippets of slowing down in all markets.

But hopefully one of the things that you have been picking up is the idea to be prepared for not just short term sales, but also the long term sales. Whether it's new bags that get added with MOP, or new crafting items. Where there will end up being a lot of money out there from the start with returning players. There will also be many cash poor new players struggling to get their first mount.

So when your planning out your sales, take both the short and long sales into consideration. I was asked recently just how much a Haunted Memento would be worth in MOP. When they are listed on the AH from time to time they remain unsold for as much as 25k gold. If you haven't played with one, it's a completely useless item other than having a shadow that follows you everywhere (never use it when your a rogue in PVP, it definitely defeats the purpose of stealth).

The memento was introduced during the scourge invasion with patch 3.02 (Wrath of the Lich King opening event). If you didn't participate in the event, then the only chance to have one is from the AH or a private sale.

Doing a quick mental calculation I explained to the questioner just what they could get for the item. People who wanted one have already paid the price for them. Even now when I play with one of mine I will get questions of what is that, and offers on the low side for a irreplaceable item. But once Mists of Pandaria goes live, and more money is available to players, then there will be more demand for these trinket items. And the price will start to go higher and higher. The biggest difference is going to be demand between a quick sale and an extended sale later in the expansion. I quoted them a price of 3k at the beginning of MOP if they wanted a quick sale. Following up with the statement that later in the expansion that 15k wouldn't be unheard of.

The holiday pets are in the same area of sales. Look on the Auction house now and you see less and less of the holiday pets as the months tick off. A sweet spot exists between supply and demand. You know that these pets will once again be available with the next holiday event. The key to being a gold goblin is to ride that wave to it's peak and then be prepared for the next demand.

So as your looking at your inventory in your guild or toon bank, don't just throw all of your items on the Auction house for quick sales. Plan out whether that item might be in higher demand when more money floods the game.

Now to sell that bridge in New York I own in trade chat.

Good Luck and Good Hunting

Past Entries

The Return of Vendor Prices

MOP Prep: Get to the Points

MOP Prep: Reduction in Inventory

MOP Prep: Stuff to Gold, Gold to Stuff

MOP Prep: Setting the Lineup

MOP Prep: Seting up the Cartel

Burn Them Fires

The Pyrite Experiment

Go and Kill the King