WoW Economy Weekly Wrap-Up
Welcome to the seventh 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”.
WoW Tokens reached astronomical new highs this week, with several key factors at play. Prices had remained pretty stable in both regions up until September 13th when the hurricane fundraiser pet “Shadow” and the Blizzcon 2017 Virtual Ticket was made available. Both of these are purchasable with Blizzard Balance, causing a massive increase in demand for the WoW Token.
Both European and North American prices reached record highs. Images courtesy of WoWToken.info
There’s no real sign of the Tokens ever losing value either, as /u/BlueMoon93 explains:
Unless of course it continues to gets easier and easier to aquire large amounts of gold ingame.
Which is the case, and will always continue to be the case. I feel like you guys are describing this in an unnecessarily complicated way. Token prices will always go up because there is constant inflation in WoW, and massive inflation with each new expac.
The value of gold itself is always trending down, while comparatively $20 USD is more or less static. So obviously people are going to be willing to pay more gold for the same real-life value over time. If they had WoW tokens in Vanilla they would have sold for orders of magnitude less than they are now, because having even a couple thousand gold was a big feat at the time — now you can make that amount in half an hour. Unless Blizz makes changes that are designed to have a deflationary effect on the economy (and they probably won’t, because that would feel awful) then the value of tokens will continue to rise over time.
TR4X Gaming put together a video as well, discussing the WoW Token pricing trends and the affects it and other things have on the in-game economy:
I, a goblin trainee, am trying to learn new ways of improving my goblin nature, today in terms of dealing with competition. What I currently do is that I have my competition added to my friendlist – whenever they are online I check their location every once in a while and during that time I’m doing more frequent cancel and post scans. Plus I’m trying to do my best in terms of high frequency posting anc cancelling. The thing I’m wondering about is the mindgames, do you know about any ways to be so so much of pain in the ass that it might demotivate competition. So the question is: do any of you have any experience about how to demotivate your competition or has any other goblin been so much of a nuisance to you in any way it made you to etiher change market or take a break out of similar posting times?
General advice is usually the following:
- be diversified so one obnoxious person can’t ruin your income
- crash the market until you can buy them out
- track them (you are already doing this)
I don’t really think that I have competition. I have a system and I do the system, and numbers happen. The players I buy from or sell to don’t have names or faces – they are just numbers in TSM accounting.
I don’t mean for that to sound pompous or dehumanizing, but it’s really important IMO to separate emotions from the system. I have a system I trust – if it tells me to buy your stuff, I do. If it tells me to post at a certain price, I let it.
My minimum sale and maximum buy prices are not affected by competition, and I don’t have time to micromanage 10,000 auctions.
It can be demoralizing as a new starter to see your market come crashing down around you, or to be left with a surplus of stock that you thought was a golden ticket. However there’s no such thing as a perfect goblin – there is always going to be losses, mistakes, badly judged investments or unexpected expenses. This even applies to the real world! The important thing is to learn from your experiences, adjust and adapt to whatever comes up.
The Lazy Goldmaker has been very industrious despite his alias, sharing a very comprehensive profession spreadsheet with the community and providing regular updates.
His most recent update includes the addition of Engineering and all new recipes or patterns added to the game in patch 7.3.
Example of the Alchemy section in the spreadsheet, listing potential profits based on actual realm pricing.
You can download the Microsoft Excel version of the spreadsheet here via box.com: Lazy-Goldmakers-Legion-Spreads. This version sadly only works on Windows-based systems.
The Google Sheets version of the spreadsheet can be found here: Lazy Goldmakers Spreadsheet Google Sheets Version.
The Google Sheets version works on all systems and is available anywhere as it can be stored in the cloud. Make sure you make a personal copy by clicking File and then Make a Copy as the original is set to view only so it does not get changed.
The spreadsheet uses the TradeSkillMaster.com API to download pricing data. The documentation for the function used can be found here if you are interested.
To download the data into the spreadsheet I have written a VBA macro that takes your API key and a region and server name and downloads the data automatically. A separate macro refreshes the data, but keep in mind that you can only query the TSM API 25 times per day for this data. If you try refreshing more than that it will fail, but updates approximately once per hour should be more than adequate.
Full instructions on how to set up the spreadsheet with your particular realm and TradeSkillMaster API key can be found on The Lazy Goldmaker’s website, and within the spreadsheet itself.
Spreadsheets like this are a vital accompanying tool to the goblin. Whether used away from the game to plan out what you should do when you log in, or just to keep track of multiple markets as you expand your gold making strategies.
The first episode covers some more detailed discussion on the various addons available to help carry out your gold making tactics including TradeSkillMaster:
Be sure to subscribe to Method to get notified on the second part in the series!
Two great submissions shared this week were retrospectives on specific methods used to reach some great milestones. /u/Thehealthygamer hit 1 million liquid gold in a short 45 days, and /u/chiliflavor discusses reaching a the current gold cap which is a staggering 10 million gold.
- 75k liquid just from doing dailies, questing, etc.
- About 100 Blood of Sargeras on my Shaman and Druid
- I had 800 skinning and enchanting(at lvl 0) on Shaman, and 700 Alch/Enchanting on Druid(boosted).
I went from 75-250k:
- Buying up enchanting mats, herbs, fish, bacon, defiled agument runes, potions, and elixirs. Basically I went after anything that raiders needed as my assumption was that these types of consumables would sell the fastest.
- I then resold these same mats at above 90% market. This meant that sometimes I would have to hold onto hundreds of stacks for 5-7 days but it always paid off in the end. This is especially noticeable for bacon – on my server bacon sits at sub 60% market for most of the week and then someone buys it all up and I can unload everything I have at 90-100%.
- During this time I also worked on enchanting and alch – got Formula: Enchant Neck – Mark of the Hidden Satyr, and Formula: Enchant Neck – Mark of the Trained Soldier. Recipe: Flask of the Whispered Pact and Recipe: Flask of the Countless Armies. I started funneling all my herbs and enchanting mats that I picked up for cheap into enchants and potions.
Doing this was pretty steady if slow gold. The biggest obstacle I found was that I lacked liquidity. For example I could have all my gold tied up in potions or bacon and miss great deals.
I was consistently farming 2 herbs each day, 1.5 hours for starlight rose and another 1.5 hours for another kind of herb, for 2 months. Until I reach the point of having 400k. I was very overwhelmed since I cannot believe I got that money just by doing world quests and posting flasks whenever I go home at valley of wisdom.
Both then go on to describe the opportunities they took advantage of.
/u/Thehealthygamer jumped on the Shadoweave Mask bandwagon and ramped things up in patch 7.3:
- Spent a crazy 20 hours over the course of two days farming Shadow Silk and selling masks. I got into it late – mask prices were already down to 7k, but still made solid steady sales until the price went down to 3k/mask. Over that period I estimate I made about 500k gold.
- 7.3 seems to have sped up all of my sales. I’ve been watching trade chat and picked up quite a lot of great deals. 1,500 Leylight Shard at 20% discount. Hundreds of Chaos Crystal. I’ve turned those into neck enchants that have been selling for 4-5k each and selling 8-10/day. I picked up a BUNCH of flasks for 300g before 7.3 released and since then the price has gone up to 500-700g/flask because of the rise in herb prices. Made some great profit there.
/u/chiliflavour diversified in to multiple professions:
Now, it’s almost 2 months away from my first year anniversary given that I have 6M gold. I’ve set my target to reach gold cap before the anniversary. Hence, I added ways to earn more. Using the infernal alchemist stone & ancient healing pots to turn into obliterum (with the help or order resource exchange for blood) and I went aggressive on selling flasks and potions especially old war, as well as 805 relics, sallow pigment, and all other stuff (I can’t remember everything that I have sold) that I can make out of the 5 professions that I have. I continue with this routine every day until I reached gold cap (up to 11.5m as of last week, the total of all golds of toons) three weeks before my first year anniversary of playing WoW.
I’d recommend clicking through and reading both submissions in full, there are a lot of consistent points being made.
- Be patient
- Be vigilant on potential opportunities, but at the same time:
- Consider your risk, if you’re not able to keep up with demand you can scale up your investment of time or gold
- Maximize your potential sales by listing as much as possible
- People are generally lazy, utilize different stack sizes of consumables and ‘overcharge’
- Be realistic with your goals, if you’re not able to spend much time focusing on gold making you may need to specialize in niche markets
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