Posts Tagged ‘Auction House’

Inscription Update – 2

Last time I posted that I was a little over the halfway mark. I’m happy to report that I milled ~50,000 herbs and crafted all the inks I need for this little project. The final number of inks came in a little over what I was aiming for as I picked up a few extra stacks of herbs here and there which I added to the pile for milling. All told, I ended up with ~14,700 inks crafted with a couple of days spare before the patch.

 

Next comes the crafting…

Prior to the patch I took the decision to start crafting glyphs. I went on the assumption that Blizzard weren’t going to write off all the glyphs and would instead opt to reuse the item ids. As it turns out, in about 99% of cases, they did reuse the old ids and I only ended up with 1 stack of grey items which vendored for a few gold. (30 inks wasted, which is nothing compared to the total volume I’ve been building).

I’ve gone back and updated my spreadsheet with all the new glyphs and established which ones I’m missing. I’d read several posts suggesting that if you knew all the discoverable glyphs before the patch you’d know them all after the patch. I’ve tested this and can confirm it appears to be the case (ie; no new discoveries have been added to either Minor Inscription Research or Northrend Inscription Research). Based on this, it’s safe to conclude that the remaining glyphs I’m missing (about 20 spread across the current 10 classes, plus about half the Monk glyphs) are going to be learnt from crafting Scroll of Wisdom. Crafting this item triggers a “resets at midnight” cooldown so scribes are limited on how fast they’ll be able to obtain those missing glyphs. Assuming I do my “research” every day, I should have everything learned in a little over a month.

As I posted the other day I’m in the process of changing my DK’s professions over from Herb/Mining to Insc/Alch. This isn’t going to affect my plans all that much but will, hopefully, speed up the pace with which I can learn the new glyphs and get those on the market a little faster. My Warlock will continue to be my “main” scribe but I’ll split the sales between the two toons (DK –> Paladin on one, Priest –> Warrior on the other). As my DK learns the glyphs she’s missing I’ll gradually switch production over to her as well to reduce the need to mail glyphs about.

 

To date, I have created 10 of each (known) glyph for: Death Knight, Druid, Hunter, Mage, Priest, Paladin & Rogue. My Warlock has 11 Packs of Endless Pockets of which I have completely fill the 7 in her bank already (hence the need to split my sales) and I’ve just bought 6 for my DK for when she’s ready to switch professions.

Slight aside… Something I noticed when the patch hit was that they’ve updated the UI for the bank slightly and added room for a second row of bags. I’ve not seen anything mentioned about this anywhere else but I thought it was kind of interesting. This suggests to me that there’s a small possibility that Blizzard are considering allowing you more bank space, which would be great news!

 

Sales

With the exception of listing a couple of Fetch & Bear Cub glyphs on patch day, I’ve not yet started selling any of my glyphs. The Monk glyphs you can learn from the trainer started out selling for ~500g in some cases but crashed to the 15-20g range in less than 48 hours. I expect these will shoot back up once people can actually start making their Monks though so I’ll be crafting these (along with everything else) in anticipation of this.

At the moment, the ink-traders are still accepting Blackfallow Ink, rather than Ink of Dreams (despite the UI suggesting otherwise) so the market is still very active. My current intention is to get my glyphs crafted, possibly top up my stockpile of inks, and then wait for the expansion to ship. The assumption being ink traders will get “fixed” when the expansion goes live and that, given Pandaria herbs will likely be very expensive for the first few weeks (at least), glyph prices will rise accordingly.

Inscription Update

Last week I posted about my plans for returning to the glyph market. I figured now would be a good time for a quick progress update.

 

Milling

I started out with a target goal of crafting 14,600 inks to enable me to create 10 of each glyph and have some mats over for restocking. With some help from my wife, I’ve so far milled down somewhere in the region of 28k herbs and produced almost 8,000 inks, so I’ve past the half way mark in 6 days. Which puts me in a great position of achieving my goal before the ink trader stops accepting Blackfallow Ink (I’ve seen a couple of people posting that this has changed on the 5.0.4 PTR so it’s a good bet that it will happen next Tuesday).

Costs have been a little higher than I would have liked as herb prices have been creeping up (doubtless as a result of *ahem* someone buying out almost all the Whiptail on Eitrigg). This has been offset a little due to the fact that my wife has been picking anything and everything while out doing archaeology, every little helps and I’m certainly grateful for the assistance. I’m still well within a “comfortable” range of expense and anticipate coming in around 50k invested in this project.

 

Storage

My Scribe started out with 4 Packs of Endless Pockets. Earlier in the week someone was selling these for under 50g each (the mats are worth ~200g on my server) so I bought 6 more. Since I’m not planning on levelling her any time soon and since she has very little in the way of anything in her bank I’ve got plenty of “local” storage to hold crafted glyphs. This said, I’m way short of the mark for holding on to all the inks I’m producing so I’ve moved my scribe out of our guild and in to our bank guild. I’ve dedicated 3 tabs in the Guild Bank to holding inks which I’ve already filled.

 

Crafting

8,000 inks take up a lot of room. That’s 400 stacks you need to find space for! Yesterday I reached saturation point having filled the space I’d allocated in out Guild Bank and 4 32 slot bags in my scribe’s bank so I decided to start crafting glyphs, my logic being that 1 stack of 10 glyphs requires 1.5 stacks of ink. I was going to have to do the crafting sooner or later anyway, so I might as well get a shimmy on. Death Knights & Druids are done and banked ready for sale.

 

Left-overs

Milling all those herbs has left me with a large amount of Inferno Ink that I’ve needed to get rid of. At the beginning of the week, someone was selling Volatile Life really cheap (I’m talking 50s each here). I can only assume that they were dumping their stock before Mists and just wanted shot of them. Whatever the reason, I bought about 700 of them and started producing Darkmoon Card of Destruction in the hops that I could possibly recoup some of my expense. Out of about 30 cards produced I’ve sold 8 making ~2,500g. More than the mats cost, but not great. I’ve been trying to sell the remaining 20 as a job lot in trade with no success, maybe the faire in a couple of weeks will improve that, regardless I’m not going to be making more as the price of Volatile Life had gone back up over 2g each last time I looked. The rest of my Inferno Inks I’ve been selling as-is getting about 40g per stack. Pocket change compared to what I’ve been spending on this little project but I’ll take whatever I can get.

Taking a Punt

punt (intransitive verb)

1. Games To lay a bet against the bank, as in roulette.
2. Chiefly British Slang To gamble.
I’ve read a lot of posts recently speculating what will sell well and what people are stockpiling for Mists. To date, I’ve not really been stock piling anything much;
  • Alicite Pendants – I have maybe 20 of these, figuring that people are going to want the iLevel boost to help get their Monks & Pandas in to Cataclysm instances. My confidence isn’t that high, hence the low volume.
  • Greater Celestial Essences & Hypnotic Dust – These are more of a long-term investment. Once people stopped running LK content supplies of Greater Cosmic Essence and Infinite Dust started to dry up and the price went through the roof. I’m counting on the same thing happening again so I’m sitting on all the essences and dusts I’m producing from the Elementium Shuffle.
  • Gold – Other than the above, I’ve been keeping most of my capital liquid. My thought process here is that I want to get my foot in the door of Jewelcrafting early on in Mists and will need the finances in place to support this.

 

Inscription

Back when I was levelling my Warlock I was making (what I then considered) reasonable gold selling glyphs. I’ve been out of the market for quite some time now, probably getting on for 2 years, however I have the benefit that she knows every glyph currently available in the game.

Mists brings both a new race and a new class for people to try out and all those new characters are going to need glyphs. Add to this the fact that there are big changes to glyphs due to appear right before the expansion hits and I can foresee that now might be the time to make my re-entry to the scene.

I did a bit of research (Google) and figured that what I needed was a list of all the glyphs along with their materials. There’s a downloadable csv file on El’s Professions but it’s not 100% up to date so I set about building my own spreadsheet. What I have ended up with is an Excel workbook with each class on it’s own tab (including Monks) showing me: The name of each glyph, the type of ink it uses and the type of parchment required. I’ve then got an extra tab which counts up all the glyphs requiring each ink. Here’s some stats for those interested in such things:

  • Total glyphs: 404 (this includes new glyphs being added in Mists, it’s currently around 370 on live)
  • Unique inks used for glyphs: 9
  • Average number of glyphs per ink: ~45
  • Most commonly required ink: Ink of the Sea (127 glyphs)
  • Least commonly required ink: Blackfallow Ink (1 glyph)
My initial goal was to craft 10 of each glyph with spare mats left over. With this in mind, this was my shopping list:
Ink Used For To Craft 10 Rounded
 Midnight Ink  44  1,320  2,000
 Lion’s Ink  49  1,470  2,000
 Jadefire Ink  36  1,080  1,500
 Celestial Ink  23  690  1,000
 Shimmering Ink  21  630  1,000
 Ethereal Ink  70  2,100  2,500
 Ink of the Sea  127  3,810  4,500
 Blackfallow Ink  1  30  100

Until the Mists pre-patch you can trade Blackfallow Ink for any of the others on this list. Current market trends show that Cataclysm herbs are the best choice with Whiptail & Twilight Jasmine offering the best chance of yielding Ashen Pigment (2-4 pigments on average).

As I’m writing this post I’ve just realised that I made a rather critical error in my calculations yesterday… Here’s what I’d based my calculations on:
  • ~370 glyphs
  • 10 crafts per glyph
  • 3,700 total glyphs
  • 3 inks per glyph
  • 11,100 total inks
  • 2 pigment per ink
  • 22,200 total pigments
  • 2-4 pigments (assume an average of 3) per herb
  • 7,400 total herbs
  • 20 herbs per stack
  • 370 stacks – Rounded up to 500 stacks to be safe

See where I went wrong? It should be 2-4 pigments per milling (of 5 herbs) not per herb, so I’m quite a ways out when I get to the end. Here’s how my calculations should have ended:

  • 2-4 pigments (assume an average of 3) per milling
  • 7400 millings
  • 5 herbs per milling
  • 37,000 herbs
  • 20 herbs per stack
  • 1,850 stacks – Rounded up to 2,000 stacks to be safe

Last night I bought 10k Whiptail (500 stacks) for a combined cost of ~10k gold. To achieve my goal I now realise that I’m going to need to buy another 30k herbs (1500 stacks) resulting in my little venture costing me closer to 40k gold than the 10k I originally anticipated. Not a big deal I can absorb the extra I’m just a little annoyed with myself for dropping the ball like that.

Bottom Line

Since I’ve already bought 1/4 of the raw materials I need to do this I figure I might as well go for broke and buy the rest. Assuming that prices remain around the 20g/stack mark (the general trend for raw materials is downwards at the moment), this will bring my total investment to ~40k gold.

Taking current average glyph prices in to consideration and assuming that there will be at least a small spike in demand as Mists releases I’m going to base my estimated return on a sell price of 25g per glyph.

  • Assumed sale price: 25g per glyph
  • Estimated sales based on materials available: 4,000 units
  • Gross profit: 100,000g (raw takings)
  • Net profit: 60,000g (gross profit – costs)
  • Return of Investment: 150% (net profit / costs * 100)

Best case, if this turns in to “Glyphmas 2” as some bloggers are predicting prices *could* spike as high as 100g per glyph (possibly even more given that some glyphs already sell for ~400g each). If this happens, my profit will rocket up to and it’s entirely possible I could be looking at upwards of 400,000g gross profit (a staggering 900% RoI).

I guess time will tell if this was a good idea or not!

How do you make your gold?

I had a conversation with a guild-mate yesterday about the different ways we make gold.Seemingly we have a few things in common…

Like me, he’s just come back to WoW after having quit in the autumn (he left to play SW:ToR). Unlike me, before he left he gave away virtually all his gold leaving each of his toons with 100g. This puts him an interesting position as he flat out refuses to accept “charity” (our guild master tried to give him back 10k gold he donated to the guild bank and he refused it!) instead he plans to rebuild by farming & trading and he tells me that so far, he’s not doing too badly. His main source of income is from Jewelcrafting & Enchanting (hey, that sounds like a familiar concept!) however he’s doing something very different to me.

We both buy and prospect Elementium Ore (currently trading around 35-40g a stack) and on Sunday we each purchased about 100 stacks of Elementium for a cost of around 3.5k gold.

Jaspers, Alicites, Hessonites & Nightstones get turned in to rings and necks (Jasper Ring, Alicite PendantHessonite Band & Nightstone Choker) All four of these patterns have a chance to proc a blue quality item with improved stats. Green items get disenchanted and any blues are either disenchanted or sold intact depending on the current price of Heavenly Shards (currently around 150g each so DE is the favoured option).

We both agreed that Zepherites are a waste of space and end up getting vendored (why are these so useless Blizz?)

This leaves Carnelians which we handle very differently: He turns his in to Carnelian Spikes which he disenchants (they have a decent drop rate for Greater Celestial Essences) whereas I transmute mine in to Inferno Rubies (between prospecting and transmutes I usually net at least 50 Inferno Rubies from 2000 ore).

Now we’re both left with a bag full of blue-quality gems and this is where we really differ: He turns all of his in to The Perforator which (you guessed) get disenchanted for more Shards. I on the other hand sell cut gems.

Whatever our strategy to this point, we’re both left with a big old pile of enchanting mats. He sells his on the auction house at whatever the prevailing rate is (less a reasonable undercut). Once again, I take a different route and produce enchanting scrolls. Some scrolls, with the additional purchase of a Maelstrom Crystal for 150g, can sell for up to 3k gold a pop (Assassin’s Step).

 

We compared notes and our respective returns on investment. Bearing in mind an identical outlay of ~4k gold (ore + settings)…

  • He anticipates he’ll get 5-6k gold from selling his enchanting mats. A profit of 1-2k gold.
  • I on the other hand conservatively estimate I’ll make between 8 & 10k from cut gems alone (Inferno Ruby cuts sell for 130-150g each which accounts for ~7k, plus whatever else I can get from the rest). I’d then expect to make a further 5-6k from enchanting scrolls (depending on how many weapon enchants I sell and with the addition of a few crystals). This gives me a potential profit of 13-16k gold.

Quite a significant difference don’t you think?!

Making Plans

Since I’m playing WoW again, I figured I should make myself a plan of things I want to accomplish this time around.

I’m going to assume that Mists of Pandaria is likely to ship mid to late October. (This date is based on nothing other than a complete guess on my part.) Based on this, I figure I have around 3 months to achieve the following:

  • Alts:
    All alts levelled to 85 with their professions maxed.  Here’s my current progress of alts in the order I’m likely to level them:

    • Jezebelle – Paladin – 85 – Jewelcrafting (525) / Enchanting (525)
    • Wizzadora – Priest – 85 – Alchemy (525) / Herbalism (525)
    • Wizzbit – Warrior – 85 – Blacksmith (525) / Mining (525)
    • Satu – Hunter –  85 – Leatherworking (525) / Skinning (525)
    • Vixetta – Deathknight – 85 – Mining (525) / Herbalism (525)
    • Gomjabbar – Rogue – 84 – Engineering (525) / Mining (511)
    • Torall – Mage – 80 – Tailoring (525) / Alchemy (525)
    • Kinetick – Warlock – 80 – Inscription (525) / Herbalism (497)
    • Mirax – Shaman – 80 – Alchemy (525) / Herbalism (416)

    I’m fairly happy with which professions I have on my alts, the only real exception is Vixetta who has two gathering professions. My current thinking there is that I’ll drop Herbalism in favour of Engineering or Blacksmithing. All three of my Alchemists are Transmute spec’d and I intend to keep this, especially given the way alchemy cooldowns look to be shaping up in MoP right now.

  • Questing:
    I want to fully quest through each of the Cataclysm zones at least once. Starting with Twilight Highlands (which I’m half way through) then Uldum, which I don’t think I’ve done any quests in yet. I’ve also never finished Icecrown on any of my alts, so should head back to Northrend and do that. At some point, I’d like to go back and do all the new old-world quests, but this is lower on the priority list as it could take a while.
  • Gearing:
    There’s really no great point to spending massive amounts of time or gold getting my characters geared as gear resets have become a standard part of expansions. The first zone in Pandaria is likely to offer green quest rewards on par with current tier epics so why bother? This said, I would like to finish gearing my priest via LFR and maybe do the same for Jez and a couple of DPS toons. A large part of this is to be able to say I’ve experienced the content from all 4 positions (Heals, Tank, Ranged & Melee DPS) however I’d be lying if I said there wasn’t a certain amount of ego involved in doing this.
  • Transmogfigication:
    I buy it, Transmogrification is cool. I was a little unsure when it was announced, but now it’s in I like it. My priest wants the tier 6 set and there’s probably other items that would be cool to have as well (for example the sword from 4 horsemen for my DK) so I’ll need to sit down sometime and make a shopping list. Again, as with questing, this is probably going to end up being kind of a long-term goal.
  • Mists of Pandaria Preperation:
    I’m intending to hit professions hard in MoP. It would be cool to think I could get the Realm First for max Jewelcrafting. Given the prices of ore in early Cataclysm (and previous expansions) this could be a costly endeavour, but then again it would repay for its self several times over by having access to gems cuts no one else does. I need to get a better handle on how professions are going to play out and start stocking up supplies to help with this.
  • Other Random Goals:
    Thunderfury will be mine! I run Molten Core weekly on Jez and have one binding so far but, week after week, Baron Geddon refuses to give up the second. By the same token I want the eye from Rag to make my Sulfuras. Once I get these suckers I’ll probably never want to set foot in Molten Core again as long as I live!

Leveling Your Bank Balance

Lone StarListen! We’re not just doing this for the money! We’re doing this for a SHIT LOAD of money!”
 – Lone Star (Spaceballs)

This is one of the articles I originally planned to write when I started this here little blog of mine.

One of the things I’ve come to despise over my years playing WoW is people that constantly complain they have no money to train their abilities or to learn the riding skills. Let’s take a look at riding specifically as this is a skill that everyone will need to learn sooner or later (preferable sooner).

  • Apprentice Riding – Requires level 20, costs 4g, grants 60% increased movement speed, mounts cost 1g each
  • Journeyman Riding – Requires level 40, costs 50g, grants 100% increased movement speed, mounts cost 10g each
  • Expert Riding – Requires level 60, costs 250g, grants 150% increased movement speed, mounts cost 50g each, allows you to fly in Outland
  • Flight Master’s License – Requires level 60, costs 250g, allows you to fly in Eastern Kingdoms, Kalimdor etc
  • Cold Weather Flying – Requires level 68, costs 500g, allows you to fly in Northrend
  • Artisan Riding – Requires level 70, costs 5000g, grants 280% increased movement speed, mounts cost 100g each
  • Master Riding – Requires level 80, costs 5000g, grants 310% increased movement speed

Excluding Master Riding, which you don’t really need, by the time you get to level 80 you will have spent 6215g on riding and four mounts; two land mounts (one slow, one fast) and two flying mounts (one slow, one fast).

In reality this is not an exact figure, there are various factors that will mostly help to decrease this cost, though buying yourself additional mounts will naturally nudge it back up.

By the time you hit 58, you should be *at least* Revered (more likely Exalted if you bought a tabard) with your home-city faction (eg Stormwind) so make sure you train your riding in whichever city you have the highest standing. This can give you up to 20% discount on training costs. If you’re in a level 24+ guild you will also have Bartering which gives you a further 10% discount. Combined, you can reduce your costs by up to 30% bringing that initial 6215g figure down to a rather more manageable 4350g.

For arguments sake, let’s pick somewhere in the middle and say your guild isn’t level 24 yet and that you’re highest city reputation is Revered. This gives you 15% discount meaning that you’re looking at 5283g. Add to that your costs to train your class abilities, which for a Paladin is about 240g, and you’re looking at somewhere around a 5500g investment to level your character. To some folks this will seem like a huge amount but it’s really not. So, how do you achieve this? It’s simple and here’s how:

Bags

The first tip is get your bags sorted out. If you’re starting out on a new server, this might come later in the process, but it’s important to think about this. More bag space means fewer trips to the vendor, mail box or auction house. It’s worth investing in a set of bags as soon as you have the gold to spare, the bigger the better. While in the short term this may reduce your gold balance, this investment will be repaid many times over in the long run.

Your Junk Is Someone Else’s Treasure

Grey items should be sold to your nearest vendor. White items have some sort of use by a profession so you should try selling these on the auction house. Green, Blue & (eventually) Purple items carry the highest value and so should, again, go on the Auction House.

Many gold bloggers advocate the creation of a bank character and so do I. Spend 5-10 minutes to create a level 1 character and run them to the nearest capital city. Once there, send anything that you’re going to sell at auction to this character. Doing this means that you only have to leave the area you’re questing in when you want to go and train. At other times, just find a mail box and a vendor and clear your bags.

Generally speaking I stick to the following pattern for selling stuff based on the item quality:

  • White (Common) – List one or two times. If it doesn’t sell, vendor it
  • Green (Uncommon) – List one or two times. If it doesn’t sell, vendor it. Alternatively if you know an enchanter have them disenchant it and sell the mats instead
  • Blue (Rare) – List it three or four times. If it doesn’t sell, treat as above
  • Purple (Epic) – Keep re-listing until it sells, because it most likely will eventually

I generally list common items for 12 hours and everything else for 24 hours. The shorter duration on common items is because you’re more likely to get undercut in these markets.

Professions

Personally, I see little point in picking up a crafting profession much before you get to level 80. If you level at a reasonable pace you will out grow anything you make very quickly so there’s little point making it to begin with. What I do suggest however is to pick up two of the three gathering professions. Which two is up to you but consider this; Mining feeds three professions (Blacksmithing, Engineering & Jewelcrafting),  Herbalism feeds two professions (Alchemy & Inscription) while Skinning only feeds one (Leatherworking). With this in mind, Mining & Herbalism are the obvious choices as they have the largest potential market. However look at your own Auction House, see which has the least representation and go for that.

Mining:
Copper Ore sells for, on average, 48g per stack. Mithril & Thorium ores also sell very well and when you hit Outland you’ll find Fel Iron sell for even more (over 90g per stack) so you should have a steady income stream as you move through progressively higher zones. Also, it’s important to always check the going price of both ore and bars before selling to ensure that you’re getting the most money you can.
Herbalism:
Goldthorn sells for ridiculous prices (185g per stack) while Outland herbs sell for even more (Felweed is currently selling for ~240g per stack!!).
Skinning:
As expected, Skinning shows the lowest prices as it has the smallest audience. Rugged Leather averages 63g per stack with Knothide leather selling for much the same.

I don’t know what it is about Outland, but there generally seems to be more demand than supply for raw materials from those zones. Maybe people just don’t like them, but they’re a gold mine if you do!

Conclusion

Assuming you play on a server with prices close to the US average, that you pick up Mining & Herbalism and that you don’t spend your gold on flashy blue & purple items that other people are selling. – By the time you hit level 80 you should be able to alt over to your banker and mail yourself the gold you need to go and buy epic flight. If not then I’m sorry, there’s little hope of you ever making gold.

In a future post, I’ll discuss what to do about your professions post level 80.

 

*All sale prices quoted are based on the “US Alliance Mean” value as calculated by The Undermine Journal on the day of posting. Prices do vary significantly between servers so may not be wholly accurate for your own server.

A Quick Update

Following on from my recent posts about market competition, here’s the latest:

My original plan was to suffocate my competitor by cutting off his supply of raw materials and forcing him to post below his cost price. This worked for a couple of days but, as is often the case, circumstances have changed. The volume of ore available on the auction house this week has increased quite significantly on recent times making it virtually impossible to close this avenue.

However, my competitor has also changed their posting schedule. Earlier this week we were posting at the same time resulting in constant back and forth undercuts, however the last two days it seems s/he is now posting a few hours after me. I’m happy with this because I generally post first, giving me a couple of hours of sales at higher prices. I’m not sure if this is going to last or not, time will tell.

Somewhat interestingly, Foo has been posting a couple of articles the last few days discussing Auction House campers that reflect my recent experiences very closely. Needless to say I’ve been reading his thoughts on this subject and seeing if any of his ideas will work in the gem market. There are a few that I have adopted, mostly in regards to walling at a price that nets me a reasonable return while forcing my competition to post lower than me.

To The Mattresses!

it’s all-out war — we go to the mattresses!
 – Sonny (The Godfather)

This is a quick update to yesterday’s post.

I have a fairly simple game-plan for dealing with my new competitor which, so far, is working.

  • Firstly, I’m buying up all the ore I can get my hands on below a certain price threshold leaving only the most expensive stacks left.
  • Secondly, I’m buying out any uncut gems that are cheap.
  • Thirdly, I’m buying up Heartblossom.
  • Finally, I’m posting with deep undercuts.

The first two actions serve a dual purpose; they increase my stock while pushing up my competitor’s costs. The third action reduces his capacity to transmute Carnelians in to more profitable Inferno Rubies. Lastly, since I have a lower cost, I have no qualms about driving prices down in the short term. What I loose in single-transaction profit I’ll recoup in volume.

Yesterday I dropped a chunk of gold to set my plan in motion and there was an immediate reaction from my competitor. Here’s an example that played out last night; My established floor price for Inferno Rubies yesterday was 125g, my competitor was listing around 175g. My first round of postings went up at 160g and were immediately undercut with 159g 99s 99c. I pulled most of my first round and relisted at 150g and again got undercut by 1c (I’m only listing a few gems at a time so relisting doesn’t cost me the earth). Third round I went deep and listed at 130g, another 1c undercut ensued. So I went for broke and listed at my floor price of 125g each… Nothing, no reaction, he didn’t relist his again.

I sat in the AH for about an hour last night before I decided to call it a day. A couple of times I noticed that my competitor was buying out of my auctions and relisting them himself. Poor guy, this is the worst thing you can do, especially when the person you’re buying from is online and clearly has stock available. When he did this, I immediately undercut him again meaning he either had to sell the gems he’d just bought from me at a loss or give me more of his gold to try and run my stock out (which is unlikely to happen for a while). Before I logged I threw up a couple of small walls of Inferno Rubies and when I checked this morning they’d all sold.

All in all I’m actually rather pleased with the results so far. My gross sales were up on recent days and I actually made a net profit despite having invested in a lot of stock which I wouldn’t have bought on a normal day. I may even continue with this sort of strategy in the longer term if it continues to be profitable.

Friendly Competition

I’m very active in the gem market on my server, it’s my main source of income. Recently however I’ve noticed a fairly significant drop on my profit and it seems I’m not the only one.

Last night I was messaged by one of my competitors asking if I’d noticed another, newer entrant, to the gem market. Through the course of our conversation we established that this new person has seemingly managed to be online 24 hours a day for almost two weeks solid. Not only this but they have been aggressively undercutting anyone else posting auctions within seconds of them listing.

Now I’m all for a little friendly competition with my fellow jewelcrafters. It’s part of the game and one expects this when you’re as active in a given market as I am. However this new competitor is acting very differently to other sellers. To me and my fellow seller the new comer fells too automated not to be suspicious. Sure, it could be someone camping the AH to make a pile of gold but the circumstances would seem to indicate otherwise. Here is a character who has suddenly appeared on the scene with a seemingly large resource pool to set up their operation. They are bullying the smaller players out of the market using extremely argessive tactics meaning anyone without a significant investment can’t compete.

Fortunately, this isn’t me. I have a good stockpile and can still turn a profit while undercutting the new arrival. I also have enough liquid capital that I can cut off their supply at the source by buying up all the raw ore so it’s a good bet that I can ultimately hurt them at both ends of the market, however in the short term it makes brings an interesting challenge.

Forward Planning Discount

Wizzadora

Run for it? Running’s not a plan! Running’s what you do, once a plan fails!
 – Earl Bassett (Tremors)

This is Wizzadora, my Gnome Priest. Right now she’s level 80 but I’m working on getting her to 85 as quickly as I can.

I’m levelling her for a couple of reasons;

  1. I’ve tried playing a Priest a few times in the past, but for one reason or another, I’ve always got bored and deleted them. When it was announced that Gnomes would be able to be Priests in Cataclysm I decided that I’d give it another go and I’ve actually really enjoyed levelling her.
  2. Since I started levelling her it has become apparent that my guild has an over-abundance of tanks and mêlée damage dealers, but a general shortage of ranged damage dealers and, more importantly, healers. Well, we have healers, it’s just that they’re almost all Druids which really hurts us in raids.

I started out levelling her as Shadow (as most people tend to) but I soon found that Shadow was a real mana drain and I was having to drink after every couple of groups. Maybe I was doing it wrong, I didn’t really understand the class that well at that point, but I was also starting to run instances and (naturally) found that queues are shorter as a healer. So I did a little reading on healing as a Priest and decided to respec to Discipline with an Atonement based spec. This is what sealed it for me, the combination of being able to contribute to damage while having some really strong heals helped me to get in to the class and bumped up my enjoyment considerably.

Since I’m a sucker for pain, I’ve decided that this alt will be a pure healer and set up her secondary spec as Holy. I don’t enjoy Holy quite as much as Discipline but I do see that for really intensive fights the healing throughput is greater than Discipline and it therefore makes perfect sense to be able to play as either.

 

So, how does this post relate to the Auction House? Well, as I’ve been levelling Wizzadora, I’ve constantly kept one eye on the AH. It’s amazing the bargains you can get when you’re not in any particular rush for them!

My best purchase so far came on Sunday evening; Someone listed a Je’Tze’s Sparkling Tiara on the Auction House for 675g. To put things in perspective, this item averages 17,591g on my server so, naturally, I grabbed it. Sure I could flip it and make myself around 16,000g profit (which would be the Goblinish thing to do) but I actually wanted the item for my Priest and the chances of seeing it for this price again before the next expansion are minimal.

As things stand at this moment, with the gear I have in my bank already along with the quest rewards I can get for the Thrall line & first day of Hyjal dailies,  I should be able to start running Troll heroics pretty much as soon as I hit 85. With a little forward planning, you can do the same for any alt you’re levelling. The best thing is, as these items are Bind on Equip, you can always resell them later if you get better or decide to abandon the alt.

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