20 Days of Gold Making – Day 11

20 Days of Gold Making – Day 11

Thanks to Nev of Auction House Addict for coming up with this idea.

Most of us use TSM, Auctioneer and/or Auctionator in combo with Postal - are there any other lesser known gold making addons you use?

For my gold making I use the following addons. Auctioneer, Auctionator, Altoholic, Bagnon, Panda, Postal, The Undermine Journal, and Tradeskill Master.

Jafo

20 Days of Gold Making – Day 10

20 Days of Gold Making – Day 10

Thanks to Nev of Auction House Addict for coming up with this idea.

Do you farm materials? Why? Why not? & which ones, where?

When people ask me if I farm for mats I usually tell them that I farm the mats from the auction house. When you gain a certain amount of money you find that you time can be more profitably spent playing the auction house than in farming mats in game.

The only time I will farm mats is when the cost of the materials on the auction house becomes prohibitively expensive or when there are no mats to be found on the auction house at all. This rarely happens however when it does it tends, at least on my server, to be leather. When it happens I will send my druid skinner out into the world to farm for leather. For the most part I never find ore or herbs to be too expensive or unavailable.

Jafo

20 Days of Gold Making – Day 9

20 Days of Gold Making – Day 9

Thanks to Nev of Auction House Addict for coming up with this idea.

What's your favorite niche market & why?

I don’t actually have a favorite. I tend to jump in and out of all markets as long as they are profitable. Currently I am making a great deal of profit selling the rare (blue) ilevel 415 crafted gear. I'm also selling a large amount of transmog gear.

I tend to be drawn to markets with low competition and high profits. Once the competition drives the prices down I will leave the market. After the market rebounds from the kobalds I will return to the market. Thus I'm constantly moving into and out of markets.

Jafo

20 Days of Gold Making – Day 8

20 Days of Gold Making – Day 8

Thanks to Nev of Auction House Addict for coming up with this idea.

Thinking back to day 2, did you ever reach your goal or are you still working towards it? If you reached it - have you set yourself a new one?

The question for day 2 was “If you set yourself a goal, what was your goal & at what point did you set it?”

My original goal was to reach the gold cap at one million gold. I reached my goal on April 15^th 2012. I have set my new goal to reach double gold cap with two million. While I know I will eventually reach that goal I'm not in any great rush. I probably could have reached that goal by now but I am having too much fun spending it. If I can keep my spending at or below my sales then I'm happy.

Jafo

20 Days of Gold Making – Day 7

20 Days of Gold Making – Day 7

Thanks to Nev of Auction House Addict for coming up with this idea.

If you were starting over again (maybe on a new server perhaps), how would you start building some capital & what goal would you set yourself?

To start building capital I would begin with farming. I would make my toon an herbalist and skinner. Its my experience that herbs and leather sells for higher prices than ore. I would also resell vendor recipes. Selling all BoE greens along the way. Since the release of Mists we now have pet battles. This gives us the opportunity to level pets to sell as well.

What goal would I set for myself? A small one to start with. At first 10 gold then 50 to 100 gold. I find its more rewarding to set and reach small goals than to set a large goal that seems almost impossible to reach. Its too easy to get frustrated and burned out trying to reach a goal of 100,000 gold. Trying to reach smaller goals is easier and more satisfying. Remember: Baby Steps.

Jafo

20 Days of Gold Making – Day 6

20 Days of Gold Making – Day 6

Thanks to Nev of Auction House Addict for coming up with this idea.

Which market has made you the most gold over the years?

Without a doubt the most profitable market for me was the glyph market. When glyphs were first introduced I was in at the beginning. I have made hundreds of thousands of gold in this market. Unfortunately this market is no longer as profitable as it once was. Like many others I stockpiled a large amount of glyphs. At this time I am trying to sell these glyphs hoping to get back at least the cost of crafting them.

My second most profitable market has been the jewelcrafting market. I have also made large amounts of gold by crafting PVP gear. Although I sell fewer transmog items than other items the transmog gear has a higher return on investment than any other market. Typically I buy the gear from 10 silver to 10 gold and resell it at 500 gold.

Jafo

20 Days of Gold Making – Day 5

20 Days of Gold Making – Day 5

Thanks to Nev of Auction House Addict for coming up with this idea.

Do you keep the same banker alt or do you change them up occasionally? Why?

I typically post on the same alts. The majority of my auctions are split up on three different alts. One manages my glyph sales, another manages my transmog and profession sales, and the third handles pet, mat and misc sales.

Although my main banker alt has changed a few times over the years this reflects my choices in playing the characters rather than any specific strategy. While there may be reasons to change posting alts to hide from your competition I perfer to stay on the same toons.

20 Days of Gold Making – Day 4

20 Days of Gold Making – Day 4

Thanks to Nev of Auction House Addict for coming up with this idea.

Do you use a banker alt/guild? When did you start doing that & why?

At this time I have several bank alts with each having a different guild. I use these for storage. As a hoarder in the game I maintain several stacks of all mats used for all professions. I also have a storage bank used for storing extra transmog gear.

I began using a separate alt/guild a few months after Wrath for storage purposes. While many people use their alts for posting I only use mine for storage. There are several reasons to use different alts for posting I never felt the need to.

Jafo

20 Days of Gold Making – Day 3

20 Days of Gold Making – Day 3

Thanks to Nev of Auction House Addict for coming up with this idea.

What were the first techniques/tricks/tips you used when starting out?

When I first started out I didn’t really understand how to use my professions to make gold. At that time I used my professions to make gear and items (flasks) solely for use on my toons. My main way of making gold was by farming and selling herbs and ore on the auction house. After reading a few gold making blogs at the time I also began buying and selling vendor recipes. Since then vendor recipes have become a steady way I can make gold.

After I became a little bit more knowledgeable I was able to begin selling greens and crafted items on the auction house. Selling BoE drops from dungeons and raids also were very profitable. Reading gold blogs at the time introduced me to the idea of “flipping” items on the auction house. After several failed attempts I learned that this was not a good way of making gold for me.

In the beginning I was pretty ignorant about the economy. I would basically try any ideas that could be found in the gold making blogs that I read. Some worked, some didn’t. After a while I was able to begin figuring out things for myself. That is when things really became interesting.

Jafo

20 Days of Gold Making – Day 2

20 Days of Gold Making – Day 2

Thanks to Nev of Auction House Addict for coming up with this idea.

If you set yourself a goal, what was your goal & at what point did you set it?

I began my gold making journey at the end of the Burning Crusade expansion. At that time I did not set any type of goal. In Wrath my goal was to hit gold cap but I was never able to reach it. At the beginning of Cata I again tried to hit gold cap at one million. I was finally able to reach my goal and did hit gold cap on April 15^th 2012.

As I noted in this post that I did after reaching gold cap I was a little disappointed. My plan was to quit playing the auction house once I hit cap. However the force of habit would not let me stop. Playing the auction house has become an important part of the game for me. I no longer wish to stop because, lets be honest, its fun!

Being able to buy whatever you want whenever you want is a liberating feeling. Being the envy of all your friends and guildmates is fun. Even engaging in wars with your competitors on the AH is fun. All of this has become an important part of the game for me. Just as much as raiding, dungeons, and yes, even pet battles.

I no longer have a goal set for my gold making. I now have enough gold to do whatever I want. I have all the new toys. I enjoy all the freedom that being rich in-game provides. At this point the gold is just a number used to keep score. Its no longer about reaching a goal. Its about the journey. I started this journey to make gold but ended up having fun. I have no plan to stop anytime soon. Its too fun. And after all, isn’t that why we play the game? Its about the fun!

Jafo

20 Days of Gold Making – Day 1

20 Days of Gold Making – Day 1

Thanks to Nev of Auction House Addict for coming up with this idea.

When did you start gold making & what triggered it?

 

I started playing WoW back in Burning Crusade. In the beginning I only was interested in raiding. At most I only had a couple hundred gold at one time. One day my guild decided to do a Tempest Keep raid in Mechanar. The problem arose when we tried to get me to the entrance. You see I couldn’t afford a flying mount at the time. Usually we were able to summon players using the one warlock in our guild. However on this day our warlock was not on. After much discussion my guild master decided to lend me the gold so I could buy a flying mount and the training for it.

 

I spent the next three weeks doing everything I could to earn as much gold as possible to pay her back. It was very important to me to pay her back as quickly as possible to repay the trust she had shown me in lending such a large sum of gold. This was the impetuous that led me to begin serious gold making.

My journey began with searching the web for any information or clues that would help me make gold. This search led me to the Just My Two Copper website run by Marco. Through this website I found many gold blogs that helped me learn the mysterious workings of the auction house. Some of these bloggers are still around today. The friendliness and knowledge of these people inspired me to turn a great deal of my time to a new aspect of the game. Now I consider myself a true “Goblin”.

 

My journey making gold in the game was a long one. Its still continues this day. But that is a topic for another post. See you tomorrow for Day2.

Jafo

I'm Back

O.k. So I decided to take a break from my blogging toward the end of Cataclysm. Mainly because there was nothing new to blog about. I did not see any reason to write “fluff” pieces just to keep the blog up and running. However I continued to play the game non-stop. Now I have decided to restart the blog.

After playing for so long I began to feel that there really was nothing new to talk about. It was only after talking to an old friend who had recently returned to the game that I realized how much the game has changed. Being involved every day I did not really seem to notice the changes.

After talking to my friend on vent for over two hours I decided that there was much I could explain and teach about making gold in Panderia. Therefore I have decided to resurrect this blog and continue writing new articles for it.

For the most part I stopped writing in September. With one exception of a single post in October to reveal a helpful hint to get extra experience. At the time of my last post I had just hit my first gold cap and was planning to reach double gold cap. However spending almost 350k gold at the beginning of Mists put a huge dent in my plans. I am now back on track with 1.5m gold and have hopes of reaching 2m soon.

While playing WoW since Burning Crusade and beginning my gold making since Wrath I have learned a great deal about playing the auction house. After all the expansions I have been through I realized that making gold in Mists of Panderia is more difficult now than in any previous expansion. However after a few false starts and a few bad investments I have gotten back on track to making a decent profit per day. It is my goal to try to provide helpful advice to others trying to make gold in the game.

See you soon,

Jafo