I have recently set a new goal for myself. I am aiming to hit 100,000 gold in 2 months time. Preferably shorter but I am trying to be a tad flexible when you consider a raiding schedule, real-life stuff, and what not.
My Hunter is currently a Jewelcrafter and a Alchemist. Part of the profession choices were based around min/maxing my character and partly because I was tired of farming materials.
Alchemy has proven to be a incredible money-maker on Illidan due to the sheer number of raiders among the population. I can easily list 2o-30 flasks of single type and have them sell within 12 hours. Sometimes a lot faster if we are approaching prime raid times.
The jewelcrafting market has a lot of aspiring crafters but luckily there is just as many buyers as well. With more PUG Naxx and Ulduar runs than you can shake a stick at, there is a lot of gear looking for gems.
I recently powerleveled Inscription on my Priest. His other profession is Tailoring. I quickly learned that the the glyph market is nothing like selling Flasks. I rarely ever have to re-list Flasks. The only time I do is if I am gone for a day and I was severely under-cut during that time.
I probably have more glyphs expire from one listing than I have sell. But I’ve already craft 2 Nobles cards and they definitely padded the blow from the cost I spent leveling it. It’s easy to determine what glyphs are going to sell the best, at least in my limited experience. I have been focusing on the glyphs people are telling are the ideal raid glyphs for their class.
Tailoring, on the other hand, has a simple and efficient way to make money. Netherweave Bags. A stack of Netherweave hardly ever runs me more than 5g and a single stack turns into one bag, which sells for 9-10g. Always. With the sheer number of characters on this server people are ALWAYS buying inexpensive bags. 70g for 11 bag slots for an alt? Probably not. 10g for 11 bag slots? Much more likely.
As it stands, across all characters, I have roughly 19,600 gold. I can make my own flasks, but I figure I need to use 2 or 3 a night (depending if we do 10-mans), pay repairs, and buy Mammoth Cutters. Even factoring on raid costs my money is going up. I just want to increase that rate of gain.
I think I am in a good spot to be able to reach my goal. It’s just a matter of taking all the pieces and capitalizing on them. Thoughts, comments, suggestions. Leave ‘em in the comments!
Since you read Greedy Goblin, I know you know how Gevlon carries out the inscription business. He calls it an industry, and he’s right in doing so.
http://greedygoblin.blogspot.com/2009/01/industry.html
I follow his instructions to the letter and I while I don’t list as many auctions as he does (my 700 to his 1500) I still make 3-3.5k a week. The only thing I do differently is I’ll go down to 6g “moving” price for single ink glyphs and 9g for double ink. Moving price is what Auctioneer recommends at 40% undercut of market price. As for relisting, I’ll only sell 200 or so of those glyphs every 2 days, meaning I relist 500 glyphs. The deposit costs are so low though it doesn’t even matter.
Another note: I know you are clearing Hardmode content, but maybe make the swap to Timeless shells from Mammoth cutters? I sell ammo as well and make over 9g per stack of ammo. It sells considerably well. If you don’t want to do that, at least find an engineer that will make them for you for a tip. That alone will probably cut your ammo costs in half.
I have been using Timeless for farm content and bust out the Mammoths for progression nights and hard mode attempts. Or when I feel like striving for the WMO boards.
I do need to work a bit harder on listing more auctions and work it kind of like Gevlon does though.
As much as I love reading Gevlon’s great blog, I really don’t like his glyph tactics. It relies on very heavy undercutting to try and squeeze other competitors out of the market, and greatly deflates prices in the process. It makes him a good amount of gold by the sheer number of glyphs he has up for sale, and requires a lot of investment to get up and running.
I’d go for the standard undercut by 1% (or 10s etc). It means checking and re-listing undercut auctions a few times a day, but it keeps glyph prices higher and is easier to manage, and you can still make the same amount of gold, if not more. Of course, which method works better depends on your server and how many other scribes are trying to do the same thing as you :)
I have been focusing on the glyphs people are telling are the ideal raid glyphs for their class.
These glyphs do sell very well, but I wouldn’t entirely discount the others. As Gevlon says: there’s a lot morons and slackers out there. It’s amazing the kind of obscure, useless glyphs that people will buy. Also, pvp glyphs sell very well too.
I’d really reccomend buying a load of books of glyph mastery, it’s a big investment, but will greatly increase the amount of gold you get per day.
p.s. the Just My Two Copper forums section is another great resource, if you haven’t been there already, and good luck reaching your goal :)
lol – and i mean it really.
why the fuck someone needs so much gold, wasting time for such garbage – i doubt that this is fun, prolly one of the most stupid ideas i ve seen someone come up with :D
lol – and i mean it really.
I decided to go back through your posts both in reply to his blogs and on the new forums. I couldn’t find anything worthwhile. Hey Drot, did you know your idea’s are stupid? Did you know that apparently what you choose to do with your time is one of the most stupid ideas this sack of fuck has ever seen someone come up with? =P
I think what’s come out of your mouth is the “most stupid shit” I’ve seen someone spew. =D
You think adding smiley faces and shit to your posts makes insuting people okay =)…
What a fuckbag.
thanks for insulting me “;)”
on a serious note, me thinkin of this as a really stupid idea i think i am fully entitled to say so.
u dissin me cuz i dont take everything and say “oh great” is just oh well – plain stupid.
but as far as this goes u try to blame me and put it like i insulted someone on a personal lvl and say thats shit…ok fair enough but then doing the exact thing u think is wrong just makes u a hypocrit.
just keep it real
Why? Because I want a Mechano-Hog and a Traveler’s Tundra Mammoth because I can. Because when the new BiS item that happens to be BoE I want to be able to get it right away. Because after playing this game for 5 years and earning money the “old-fashioned way” even before daily quests, I am tired of it and want to do it a new way.
The better question is, why wouldn’t you want that much gold?
YMMV but I see differences, I suspect a mixture of realms being different and me not having GG’s skills. But I don’t understand the every 2 days; earlier this week I posted glyphs, went to dinner, and when I got back 10 of the 20 had been undercut. If I have the time after running through posting my glyphs, I rescan and go through my glyphs as some will probably have undercut some. I used to try to not drop below 5g/glyph but had to relax that.
Of course it all depends on herb prices; if the herbs for the ink cost 2g, then an 8g glyph has triple the profit of a 4g sale and 1200% the profit of a 2.5g sale. So there is really an incentive to not go too low too soon.
Gevlon can afford to only post every two days becaue his prices are so low, that it discourages anyone else from undrcutting because the profit would be too small. From his blog:
“I’m a heavy undercutter. I undercut by 40% on the glyph market. I can produce glyphs for 3G. So if I sell any higher, I get income. So I configured auctioneer to undercut even if it’s 40% below the market price and do by at least 50s. I significantly deflated the glyph prices on my server, despite I’m there for two weeks. During this my income increases, as I gain larger and larger portion of the glyph market. On my old server I had 40-50% of the glyphs listed. Here I’m somewhere around 20%. This is about to change. As I push the prices down, more and more small-scale players will leave the glyphs [...] Sooner or later I’ll have quasi-monopoly on the glyph market.”
This wouldn’t work with the 20 glyphs you have for sale, it only works for him because he has so many auctions up, can’t rememebr the exact number but it somehwere between 1000-2000.
From that same article (the next paragraph, actually):
“Sooner or later I’ll have quasi-monopoly on the glyph market. I’ve configured auctioneer to match price with lowest auction if it’s above the price. So if the medium price is 10G, the lowest auction is 13G, I’ll list for 12.5. So as a competitor leaves, my prices automatically increases. When a new one comes, automatically decreases. As far as I’m above 3G, I’m fine.”
The point of the undercutting is to force out the competitors which allows your prices to rise again. Meanwhile you are still making tons of gold.
Also, to touch on your earlier comment:
“It means checking and re-listing undercut auctions a few times a day, but it keeps glyph prices higher and is easier to manage, and you can still make the same amount of gold, if not more.
If you can make the same amount of gold but spend less time at the AH, which is the better way to make money?
Ah sorry I messed up the tags.