WoW Economy Weekly Wrap-Up
Welcome to the thirtieth edition of the WoW Economy Weekly Wrap-up! In this edition we’re taking a look at the new Battle for Azeroth Alpha Profession updates, spending your hard-earned gold, resetting markets on the Auction House plus a new community-made Web Tool for goblins.
If you’re new to this series or want to re-visit past posts, you can check out the previous articles right here on wowhead.com
My name is Gumdrops and I’m the lead moderator for the /r/woweconomy subreddit and the accompanying Discord server. I am also the Support Manager & User Evangelist for TradeSkillMaster, the Auction House addon suite for World of Warcraft. I hope to cover and showcase some of the interesting topics, discussions, content and guides that have been going on over the last week in the gold making community. Some that you might have missed as a veteran gold maker, or you might be interested in checking out for the first time as a new or aspiring ‘goblin’.
The format will not be that of a traditional guide, but links to further reading with commentary and opinions of my own. I will be looking at the bigger picture, the decision making and thought processes in being a gold maker – rather than a step by step instructional list. As the saying goes, “give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime”.
Alpha Build 26175 added numerous profession updates, including lockpicking for scribes and belt enchants for Engineers.
- Many professions got new recipes to craft Honorable Combatant PvP Gear.
- There is a new series of weapon enchants which grant you 50 of a secondary stat for 30 seconds, stacking up to 5 times. Once a stack of 5 is reached, you gain 400 of that stat for 12 seconds. Enchant Weapon – Deadly Navigation, Enchant Weapon – Quick Navigation, Enchant Weapon – Masterful Navigation, Enchant Weapon – Versatile Navigation, Enchant Weapon – Stalwart Navigation
- Blacksmiths have been able to create items to assist with lockpicking for a while, and now scribes can as well. Monalite Skeleton Key is the lockpicking item for Blacksmiths and Scroll of Unlocking is the lockpicking item for scribes.
- Engineers have three new belt enchants:
Belt Enchant: Holographic Horror Projector: Permanently attaches a specialized device to your belt, allowing you to fear an enemy within melee range for 5 sec.
- Belt Enchant: Miniaturized Plasma Shield: Permanently enchants a belt with a device, which when used projects a shield in front of the player, deflecting all incoming frontal attacks.
- Belt Enchant: Personal Space Amplifier: Permanently attaches a specialized device to your belt, allowing you to remove any movement impairing effects every minute. Shares a cooldown with potions.
Inscription is once again getting another potential revenue source with Scroll of Unlocking, despite it requiring Inscription to use. Combined with the reputation contracts and talent changing tomes it’s going to become a staple profession once more. Here’s hoping we get some more UI improvements regarding the Glyph system, so that more players are aware that they’re a thing and can be purchased from the Auction House.
Blacksmithing will always remain a ‘Top 3’ profession to utilize at the launch of expansion, crafting gear that players actually need to equip in the early stages of BfA will be very profitable, the Monalite Skeleton Key continues the profession flavour of crafting keys to unlock things and is a welcome return.
I’m going to assume that the Engineering belt enchants will be self-enchants only, similar to the currently existing tinkers available to Engineers like the Nitro Boosts – seems to be more minor quality-of-life improvements for Engineers and why I’ll always have Engineering on my main character. Having said that, Engineering is still a major market and shouldn’t be dismissed as quickly as some goblins tend to do.
The new enchants are interesting, fingers crossed they can be used on both melee and ranged weapons – that will be a huge market for Enchanters to be part of, with lots of room for competition. They are green quality though, so maybe the ‘best in slot’ enchants are still to come.
Despite the name indicating some kind of PvP usage, the Tailoring recipes are the basic profession and player leveling gear recipes. These could be the kind of items that you’d be looking at for a new shuffle – there’s always money in the
banana stand Rank 3 Bracer recipe Honorable Combatant’s Satin Bracers.
Which professions will you be focusing on through the launch of Battle for Azeroth? Which professions do you like to have on your main character?
Setting objectives and goals as a gold-maker is important. It helps you measure your success and ensure you’re remaining on-course for reaching targets. But what do you do once you’ve made your gold, you’ve got a bit of spare cash to treat yourself and maybe indulge yourself. /u/Redditrons_Roll_Out poses the question:
I really want the spider mount, but I also want a million other things. Alt boosts, mounts, pets, mythic carries, tokens, e-peen, Destiny 3 (lul), etc.
What kind of goals does /r/woweconomy set for itself?
Quote from a HS baseball coach (forever ago), “The moment you’re satisfied with where you are is the moment you stop moving forward.”
Since I’ve personally stepped down from mythic raiding recently, I’ve been thinking about the gold required for a carry to obtain the mythic mounts. But I’m not as much of a collector as some goblins, I mostly enjoy collecting the gold itself – and maybe some materials if you’ve ever watched my stream.
Trading Card Game (TCG) mounts are also of interest, however the prices are increasing dramatically due to rarity and inflation – I feel like I missed the opportunity to get most of them when they were comparatively ‘cheap’ back in Pandaria or Draenor.
Bnet balance, use Bnet balance to buy other Blizzard things, Hearthstone(expansions and packs), Overwatch(the game). Bought BFA, another version of the game for the 100 boost when it was on sale before xmas. Still sitting at max Bnet balance and 10 tokens, with 3+ mill in liquid.
Inflation-busting strategies are also the main reason to do this according to /u/GeneticsGuy, in a followup comment:
It at least gives you a good storage to diversify your assets in something you know is only going to go up in value.
I’ve bought all the mounts I’ve wanted 850 unique pets, maxed my bnet, have a few years in time and help out some friends/fund my bf’s hearthstone addiction. I invest a lot, about 40mil stuff on AH, 20 mil stuff in bank and 21 mil liquid. I play AH because I like it, not really for stuff to buy anymore.
Taking heed of the coach quote from OP, /u/RebelliousKrimpy has been adapting their goals and targets as their journey as a goblin continues:
What are you spending your gold on? What’s your most recent purchase for fun? What are you current objectives as a gold-maker?
Resetting markets can be a very profitable activity. The idea behind it is to buyout a specific item up to a certain price threshold – or even the entirety of what is listed on the Auction House and listing those items back on the Auction House at a higher price. This will ‘reset’ the price to a higher point, and move the market price point higher than before. If demand for these items are high enough then players will continue to purchase at the new higher price, and the one resetting will generate some profits.
However this is a very risky practice, and shouldn’t be attempted without a lot of research and familiarity with the markets on your specific server. There have been some very upset goblins just starting on their gold-making adventures attempting to reset a market and ending up with a massive over-supply of a material with no demand and prices settling back down to below their purchase price. You don’t want to overinvest in anything, not just resetting, without understanding everything about the market. /u/exaltedbythesun is experimenting with a specific item on a low population server:
To that end I have been buying all the cheap Crystals (Fractured or not) and reposting them at the price I want them to sell.
If you were me, trying to do something like this with this or another mat, would you bother cycling the auctions between different alts who “undercut” each other? Or would you just repost everything with the same alt as a show of force? To be honest a “show of force” in my case would be mostly a bluff, because I don’t really have any real liquidity, and a true goblin could easily push me out..
This is definitely a strategy some gold-makers have deployed, making it appear that the market is ‘as it should be’ with different people posting. But it would probably be a bit overkill, as the players buying the items (assuming there is a demand) wouldn’t really care. /u/mada98 tends to agree:
You wouldn’t be the only one to ever think of or execute undercutting yourself on several alts to make it look like you weren’t trying to control an item but it seems like a lot of effort compared to just selling on one character. You don’t stand to gain a whole lot in my opinion though I’ve never tried it. People just buy whatever they need from anyone assuming they’re not turned away by the price. I think some of us tend to look too deeply into it when 99% of the time people just buy the cheapest of whatever item they want.
Resetting markets isn’t always a simple case of buying out one item and posting it all higher – you’ll notice /u/exaltedbythesun was also buying the Fractured Temporal Crystals too. It wouldn’t make any sense, for example, to buy out all the Netherweave Bag from the Auction House but leave all of the cheap Netherweave Cloth listed so competitors can ‘undo’ the reset of the bags.
Newly tagged Trusted Goblin and wrap-up regular /u/Mochaboys also shared some interesting insight to this with their own resetting experiments:
I’ll be frank, I tried it once and it left me feeling a little dirty and all told, after all the effort involved, it ended up being a complete waste of time. In the end, when you’re trying to control prices your goals are the following:
- choke the underlying supply chain
- prune listings and extending high buyout levels by buying out undercutters
- or worst case scenario, push out undercutters (by signaling that you’re willing to take a loss to undercut them – I usually do this by buying out their supply and reposting it back while undercutting them – this is an important calculation you need to make so you’re clear on how much you’re willing to spend to undercut someone and how much that impacts your overall profit…just make sure you remove emotion from this equation or you WILL lose out on profits).
The trick with making this work boils down your ability to sustain these conditions over a period of time. Usually a week is enough but I’ve sustained these conditions in various markets for over a month now successfully and defended against undercutters where necessary.
Here’s some examples:
Saber’s Eye Gems
When I dipped my toes in, Saber’s Eye were around 3.5-4k and Pandemonite was selling briskly at 5k…So I bought out all the Pandemonite and Furystone and kept buying it out without posting any back. I did this till I had about enough for 100 cuts across all the saber gems.
Then I watched the saber eye supply and waited for what I felt was the lowest supply then bought all those out and kept buying them out. So the first reset, I nudged the price from 3.5k to 4.8k. I waited for posters to unload their supply and bough them out slowly over the next week. On the next reset, I bought all the supply again then nudged the price up another 1.5k to 6.3-6.5k. I rode that slide out for a week until supply was low again and then I did something a little different.
I posted a few of my Pandemonite at ridiculous prices, like 8k per and Pandemonite suppliers followed suit surprisingly. When I saw they were biting and helping me put Pandemonite supply out of reach of anyone looking to compete, I bought and reposted the remaining saber supply at around 8.5k. So that last round was about 2 weeks ago and the prices for saber gems are still around 7k.
Now through all that, I diligently watched reposters and if someone undercut me by a significant margin, I didn’t think twice, I bought them out – I categorize that purchase as a “cost of doing business” expenditure.
I did run into a few griefers who took advantage of my resetting, and this is probably the only place where an alt or alt army would come into play. You don’t want any griefer undercutters knowing you’re willing to reset, so this is one place I’d consider deploying alts. In my case, I didn’t need to and I just kept buying out cheap supply and making sure it wasn’t economical to buy pandemonite and flip it for a saber profit.
Mind you this was all on a low pop server, you’d need to be way more flush and way more aggressive on a higher pop server to sustain something for as long as I’ve sustained this reset.
I tried this market and was NOT able to sustain a consistent reset of Chaos Crystal for more than a few days…there’s just too much supply available period. I didn’t lose any money with this reset, but I didn’t make any either…though I did sell a boatload of enchants as a result of having to redeploy the mats.
Totally resettable and extremely volatile. You can’t sustain a reset in gems unless you control the Empyrium supply. I spent about 200k just buying out item=151564] for a couple of weeks and although it helped, it was very difficult to sustain and be profitable. While gems do move, they just didn’t move fast enough at a price that would justify continued buying out of Empyrium.
The nice things with gems though are that when they drop below a certain threshold (if gem cost * 1.65 < 1 Primal Obliterum) then you can buy out the gems and shuffle them over to Primal Obliterum (assuming you have a good supply of which everyone should). This shuffle has a couple of coincidental benefits in that:
- it reduces the supply of gems
- it shifts the risk of unloading and spreads it across 2 markets
So while you may make a little or break even in the shuffle, it’s a great way to spread the risk and still possibly profit. Across around 1,000 Primal Obliterum sales, I’m in the positive using the Argus gem shuffle. (pro – tip Hesselian and Florid Malachite almost always sell for less than primal obliterum so keep an eye on those supplies).
…wow this market is sick…I don’t have an alt army to deploy towards making these but when I have reset this market – it’s always been good to me, so take that for what it’s worth.
So yeah that’s just a short collection of reset efforts…there are certainly more I can talk about, but those reflect some of the tactics, strategies and criteria that I think you can apply to any market. It won’t work for every market and all it takes is one nutbag to come along and ruin everyone’s fun but then again – that’s the game we play.
So just remember in your case, make small moves to lure out cheap supply and buy it all as it becomes available, then slow nudge prices over a few weeks and see what happens. I’ve tried the aggressive resets and I’ve found they drop faster than just nudging and consistent “pruning” of big undercutters.
One of the consistent points from /u/Mochaboys here is that there’s always something else to do with the items targeted for resetting. If you have an oversupply of items from attempting a reset you can offload by turning them in to something else, and you’re not relying on the price of the item being reset to remain high – which doesn’t happen. It’s interesting to see how the Auction House can be gamed, but it’s a delicate process and carries lots of risks in terms of potential loss of gold. In these situations you’re not only trying to establish new pricing for a market to the players purchasing, but also other goblins and gold-makers that are selling the same thing.
Have you ever attempted to reset a market on your server? What were the results? Have you been involved in a market that was reset by someone else? Did you benefit from that?
Before I started my weekly wrap-up on the WoW Economy community here on Wowhead.com, /u/ukon1990 put together a great proof-of-concept for a web-based tool to check pricing information regarding your professions and the profits to be made based on the realm you’re playing on. They’ve been spending some time updating it and this shared version 2.0 with the goblin community!
So almost a year ago I released the first iteration of my hobby project to the wilds. I’ve worked much on the application since then, including rewriting both the front- and back-end (no more php). I have also changed the hosting service for the application.
The application allows you to get information relating to your realms auction house including crafting cost for any recipe (not necessarily from professions). You can set up rules for certain items (watchlist), that will be displayed in the dashboard given that they meet your criteria. This also include recipes you know that returns a positive ROI for those items.
The release was published a couple weeks ago, but the API have been stable for long enough for me to want to post about it here now. I hope some of you will find the new additions useful.
The application is available at: https://wah.jonaskf.net/ – Alternatively http://wah.jonaskf.net, if you have previously used the application. If so, I recommend moving your settings to the https version of the site. You need https in order to get notifications.
All the code is still freely available on GitHub
- A page containing several dashboard displaying potentially profitable items and crafts.
- Clicking on the button in the top right of a dashboard allows you to see all the auctions/items/crafts as well as a TSM string you can paste into the shopping panel in TSM.
- Clicking an items name will open a view with more information about that item, such as all auctions of that item, any recipe that makes that item, what recipes that item is created by, a reset calculator and a graph illustrating the current AH prices for that item. This replaces the side window showing the auctions for an item.
- You can now add your own proc rates for crafts in the settings. Meaning that you can change the number of items per potion of prolonged power rank 3 etc.
- You can also define custom prices for items
- As mentioned above, you can set up rules for certain items. Be it if x amount are up at AH, the item is below x% of the market value etc. When those criteria are met, they will appear in the watchlist dashboard.
- You can now look up sellers both via dashboards (in the seller section) and via searching for them. Clicking on the sellers name here will open a detail view for that character.
- In the not too far away future, you should also get a chart with a overview of item types this seller has up at the AH.
If you have any constrictive criticism or wish to report a bug, do feel free to message me on Discord (you can find me in the woweconomy channel under the name ukon1990), in this thread (as the old one is too old to accept posts) or on Github.
How to install as a desktop app (Progressive Web Application)
So if you are using Chrome under windows (supposed to be added in Edge also some time).
- Open the menu (3 dots) in Chrome
- Go to “More tools”
- Click “Add to homescreen”
Now you will have the web application as a desktop shortcut. The web application will now run independently of Chrome.
A big thank you to /u/ukon1990 for this amazing tool, I hope the gold-making community can make use of it!
Most of this information was discussed and originally posted on the /r/woweconomy subreddit or in the accompanying Discord server. You can also catch me streaming live on Twitch every Tuesday and Saturday from 5PM UK (12 Noon US Eastern) and Thursdays from 12 Noon UK (7AM US Eastern) or Fridays from 9PM UK (4PM US Eastern) answering gold making and TradeSkillMaster questions, or you can tweet your feedback/thoughts via Twitter at @GumdropsEU