WoW Economy Weekly Wrap-Up: Professions, Flipping, Remote Gold Making & Picking a Server


Loading ....
 


WoW Economy Weekly Wrap-Up
Welcome to the ninth edition of the WoW Economy Weekly Wrap-up!

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”.

Our first topic is a crash course in Tailoring and Enchanting with /u/SamadanPlaysWoW – he started his gold making adventures quite recently and he’s shared some insight on his processes to get started and what he’s doing to make gold.

A little over 2 months ago I decided I wanted to make gold to pay for WoW Tokens and get free game time. Here is my story of what I’ve been up to and how it has worked out…

I only play one character, a Holy Priest. I’m a casual player, only ever done 2 mythics, not in a guild and don’t always have a lot of time to play. So first up was to look at what tools I had – Professions. I had almost finished the questlines for Tailoring and Enchanting, it had taken me ages to get flying which was my focus until then. First up was to finish those and get as many rank 3 recipes I could (I still don’t have them all).

I’m on a low pop server, Shadowsong EU. I had no idea what would sell and what wouldn’t. I watched all of BregVids gold videos on YouTube and had a few ideas (I highly recommend people watch them). I started small with throwing everything I had in my bank and inventory on the AH and see what sold. The results were terrible. None of the transmog stuff sold very often (I was expecting daily sales) and it seemed a crapshot in the dark.

People on here say go understand the market, but for me there was so much out there I had no idea where to start. What I ended up doing was looking at a snapshot of my server using the TSM database API and exporting it to a spreadsheet. I then ordered the list by avg. daily rate sold and looked for things that I could make or get hold of that were still current. It seemed all the top Enchants (the Bindings of and Marks of) sold quite frequently and so I started selling those.

The results have been fantastic and way beyond what I could hope for. By focusing on one small area, I was able to expand my knowledge from there and make more and more money over time. I now have bought 3 WoW Tokens for 3 months game time and plan on getting 6 more at least before that runs out – and this is EU prices too.

This is truly a textbook example of everything I have been outlining here in the weekly wrap-up and in the wider community for a long time. Using all of the available resources and identifying opportunities that are most relevant to you and your own play-style. “By focusing on one small area, I was able to expand my knowledge from there and make more and more money over time.” brings a tear to my goblin eye. Of course there is a lot of stuff going on and many things that can be done to make gold, but there’s no reason to attempt to do absolutely all of it at once – you can hone your decision making and knowledge of a very small subsection of a profession or particular market. Then once you’re more comfortable with what you’re doing you can apply what you’ve already learnt to another small area of gold making.

With my weekly wrap-ups here on Wowhead.com there are many different methods, techniques or strategies to make gold that I touch upon – it’s up to you to investigate them further and research whether they’re going to be suitable or profitable for you.

SamadanPlaysWoW also put together a video showcasing his routine and goes in to a bit more in detail on getting started with gold making:

Some key takeaways from his video and reddit post:

Here are some things I learned …

  • Rings sell most frequently, I have 4 of each on at any one time. Necks and Cloaks I’ll always have 2 on.
  • Watch your profit margins ALWAYS. I have TSM Min price set to 100% CraftingCost + 400g, so I never post when prices have dipped.
  • Always be the lowest price and undercut by 1cp. I run a cancel scan 3 times a day if I can – Morning, Lunch and PM
  • Look for days when you get most activity, like many sales in an hour and try to be on and active in those times. For me those are Thursday and Sunday evenings
  • I use Tailoring to turn Shal’dorei Silk into Leylight Shard and Arkhana – It took me ages to get the Rank 3 Bracer, so before then I used Rank 2 Epaulets.
  • Do your own calculations for profit. I use a spreadsheet and work out profit margins by hand for each of my recipes.
  • Use the Smart Averages feature in TSM to get a more accurate price of your stock you bought (Chaos Crystal and Shal’dorei Silk)
  • Use manual price for stock that you create by other means (Leylight Shard and Arkhana)

What’s the big deal?
Flipping items on the Auction House is a very lucrative strategy to generating a lot of revenue. The old adage “Buy Low, Sell High” is true of course, but knowing what to buy and how to identify when it’s low or high is an art in and of itself.

/u/SuddenlyNinja_YT is feeling a bit disillusioned:

I’ve looked at videos of other goblins where they open their mailboxes and show what they’ve earned in a month, sometimes amounts up to 500K… All using the familiar phrase “Buy low, sell high”. Now that sounds good and all, but when I look at prices on my server for most of the popular trade goods at the moment (Argent Dawn, EU) the difference between High and Low often comes down to 3 or 4 gold, which would come down to maybe 5K profit per 100K spent, IF you manage to sell everything at the “High” price…

My question is: Are these sorts of low profit margins normal? Do these people make this kind of gold by doing this over and over and over again for months, or are prices on their servers just more volatile?

/u/Anesthetize88 shares their thoughts on what they flip:

It all depends on what you’re flipping. I personally flip items in the markets that I’m in. I don’t flip BOE and transmog for example as I haven’t the slightest. I flip gems, flasks, sometimes the difference is like 500g but if you add those up, they make a huge amount of profit. For example, Chemirine is selling for 1k each where as the cut ones are 2k each, i buy all up to 1.5k each, list half of them as uncut and cut the others. If I sell out the cut ones, I cut the remaining. You need to know the market that you’re in so that you can know if you flip or not, Flask of the Whispered Pact sells very good at 700ish on my server, sometimes they go down to 500ish I buy them all out. (this requires a huge amount of capital)

/u/chchxy looks at flipping as more of a long-term strategy:

I think if you’re talking about flipping current expansion materials you really have to do so in bulk, and sometimes you have to wait for something to substantially change the market (like a banwave, release of new raid, etc.). for example on my server, starlight rose jumped from 20g~ to 40g~ after 7.3. that’s a huge return on investment, but it doesn’t happen very often. older expansion materials might work better. Combining sniping with flipping also adheres to “buy low, sell high”, but that too may take time.

/u/kirbypaunch agrees with including sniping in your flipping strategy:

Flipping low value trade goods isn’t an awesome strategy at high level of gold. I include sniping with flipping. It’s very easy to amass a collection of transmog items and BOE gear. You might only sell 5-10% a day, but that can be significant. In my experience, though, crafted items are the largest source of profit on a day to day basis. I probably sell 1m a day, much of which is crafted mounts and gear.
That said, there’s no reason you can’t setup some basic groups for buying trade goods at, say, 50% and posting at 90%. Just incorporate that into a normal buying routine. But it’s key to select good items that are often posted for low values and which sell for high values, typically the ones that people use to level professions

Vendor Flipping
One specific type of flipping is visiting vendors that sell unique or limited supply items. Players can of course look up anything they want or need to know right here on Wowhead.com, but that requires a little bit of effort so they’re happy to pay a small premium to get the item they need directly from the Auction House.

/u/WolvenDemise ponders if it should make a goblin feel bad:

I’ve realized a lot of players don’t use TSM. Hell, I have it and have made bad purchases myself. I’ve probably made a good 5k gold this weekend selling 1-10g vendor bought items at silly prices. Just sold blue wrapping paper for 545g. Think I bought it below 5g.
How many of you do this?

I don’t do this kind of flipping myself, however one of my personal beliefs is that there is very little room for empathy in gold making. Sure you can be charitable, but that’s not possible unless you’re generating gold in the first place.

/u/HominusNocturna shares my thoughts very eloquently:

There’s an Electronic Microscope in the University of Tel Aviv that allows scientists to peer into the very building blocks of matter, practically letting them see the components of the atom in action. Even using that marvelous machine, you’d be pressed to find the percentage of how bad I feel for providing convenience for those too lazy or oblivious to go search themselves.

In all seriousness, I know that if I were to buy the ingredients and make myself a pizza, it would probably be cheaper than ordering a delivery. But convenience has a price, and it is dictated by the consumer him/herself.

Making gold makes me feel so bad 🙁

To the point of this subsection, /u/Zauvekrock91 took the opportunity to share some of his favourite vendors to hit up:

There comes a time when even the most dedicated goblin needs to step away from the computer. But what can you do ensure your gold making empire is ticking over nicely when you’re away for longer than desired?

/u/gomilol has been feeling under the weather recently and sought some help:

Hi everyone, I’ve been sick for a few days now, and some days I won’t leave the bed (it’s nothing serious). Do you have any methods to use the mobile AH to snipe or flip some items? Do you use the undermine journal to look for offers?
I also have a mackbook, but I don’t have enough space to install WoW, I can install it on a external hard drive, but the game plays very slowly and the loading times take so long.
What would you recommend me?

The first suggestion is to use the power of Steam streaming with a laptop ‘viewing’ the computer that is running the game. /u/My-IT-Guy explains:

Step 1: Install steam on your PC and your MacBook
Step 2: sign into steam, go to this site to learn about enabling streaming on both computers
Step 3: Easy mode is to just add the blizzard app as a non steam library game, you could just put explorer.exe in there and have easy full desktop streaming
Step 4: get well soon

/u/Morphezz suggests using the Remote Desktop extension from Google Chrome:

Chrome Remote Desktop allows users to remotely access another computer through the Chrome browser, that means you could use another computer or laptop to control your character in-game and keep up to date on your auctions. An alternative would be something like TeamViewer which is what I personally use. The benefit of this application is that you can also use a mobile phone or tablet device to control your remote computer.

If you’re not able to leave a computer running to remotely access then the trusty Warcraft Armory mobile app is also a viable option. /u/HB1man explains:

Use the mobile app.. Flip Legion trade goods. I think I have made about £12m in Legion doing only this. I dont use TSM or have hardly spent anytime in the AH. Admittedly it was a lot easier in the begging of the expansion but still works well.
Buy all the random stacks (ex: 45, 135 etc) and resell them as full 200/20 stacks which are usually priced higher… Study your server to see when is a good time to buy and sell, the more you know your market the easier it gets..
Watch out though as you only have 200 transactons a day so would avoid buy single items.

Our friendly Lazy Goldmaker also shared some detailed information in his latest blog post on utilizing the Armory application to make gold while you might be away from the game.

The ability to buy materials at any time can be very useful. If you are a large scale crafter in a market you will usually learn the price levels and can easily tell if prices are low or not. Chaos crystals are among the better options for in-app purchase. I suggest having a couple of materials that you regularly scan the auction house for when you have an opportunity to use the app.

If you’re new to the game, or looking for a fresh start there are many factors in deciding which realm to create a character on.

If gold making isn’t your primary reason for playing, I usually recommend first joining a realm that your friends are already active on. Having people that you know to play and trade with is often the key to finding enjoyment in WoW, it is an MMO after all. Besides that, choosing the server type based on your preferred play style i.e PvP or PvE is next in line, if you don’t want to be killed while out leveling then PvE is probably a better option.

If gold making is your primary concern then the decision becomes a lot more difficult. How is anyone supposed to know how good a realm is to make gold on? To be honest, you can make gold on any realm. How and how much will naturally differ between different servers. I wanted to share two videos that discuss in great detail the thought processes, decisions and tools that go in to choosing a server to make gold from BregVids and WTBGold.

I think we need to have a word with Breg about these click bait thumbnails!

Reckles aka WTBGold goes in to very technical detail on realm economies

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 10AM UK (5AM US Eastern) answering gold making and TradeSkillMaster questions, or you can tweet your feedback/thoughts via Twitter at @GumdropsEU

We’ve been running this series for a few months now, and due to the overwhelming positive community response we’ve received, we wanted to give back with some giveaways!

For this week’s giveaway, we want to know your Auction House stories – what was your biggest flip or sale?

To enter: leave a comment below (minimum 1-2 sentences) with your biggest AH flip or sale.

Prize(s): We’ll pick 1 winner for a Luminous Starseeker/Twilight bundle.

Entry period: Now until Friday, October 7th at 11:59 PM Pacific.

Winners will have up to 14 days to reply to the email received to claim their prize or it will be forfeited. We’re not responsible for any email issues you may encounter. A winner list will be posted here . If you’re a winner and don’t receive the email, please email , within 14 days of the giveaway end date. A valid entry is defined as a submission containing thoughtful and logical answers to posed questions (e.g. “it’s cool”, “ihgty”, etc. isn’t valid).

See legal disclaimers here. Questions/Comments? Contact feedback@wowhead.com.



Source link

 


Loading ....