Friday, January 11, 2008

Techniques & Making Money in WoW - Part 1

Everything I say here is from my experience, profession and observation in the game and leveling. Oh, and I don't know everything either. WoW is too big to know everything or master everything and every profession properly.

Start this with a few thought and things to think about.

The WoW AH Economy makes no sense! The WoW AH Economy really makes very little sense.

The Law and Supply & Demand AND Greed will usually drive the AH market as it relates to pricing Items. The more the demand for a item the higher the price. The rarer the item the higher the price. The more in demand for a item the lower the AH pricing of the item.

The more people selling the item the more bottom low the item price. The more the underbidding the price of the item already on AH.

The more unaware of the item the player the more ridiculous both high or low the item price.

Opportunity will always exist when you find something other players hate to do. Find that thing they hate and get good at doing it, doing it often and doing it well.

Find a nitch Item in the market where no one supplies and become the supplier. Selling that market item now becomes yours to own.

The player that understands the Item or market price of a item can manipulate the market.

Scarcity of market item is good IF your the seller of a valuable sellable item.

If your the only one farming it, you have a good chance at setting the market price.

Few people know how to sell their items well.

Knowing how to use your profession or skill can make you money.

4 comments:

Xialey said...

I have made some money on the AH by simply buying items for cheaper than i think the usual price and then jacking the price up by 1 or 2 gold. Its really simple and easy. It may take a while to really see some profit, but its a simple way to bring in some extra.

I have made some gold by skinning as well. 1 or 2 gold for a stack of various leather goes in hours on the AH.

Im looking forward to your future parts of this thread

Vykor said...

When starting a new character I always take skinning and mining. Solid initial cash generators. Mining especially.

I then trade using Auctioneer to build a cash pile up from there.

I simply don't have patience to farm on a regular basis. But I am happy to sit back and watch auctioneer do it's stuff and then buy the most profitable items.

The area of the AH I stick to is those with 90% profit margins. Especially when I have little or no money. As I get more money I start to go down until I can afford to tie money up in items that will take longer to sell and I only double my cash on.

It astounds me that in a game with perfect information there is still room to make a profit.

Anonymous said...

Galo,

I have leveled to 69 as holy and am done with it. Was fun and had some cool guildies to help, but, I am taking the plunge and going to respec prot. and I don't care if nobody likes it.

Your blog is one of the reasons I am doing so. I expect that I will have some major growth pains but what the heck.

Thanks for all the information!

Spiffypaldn of Drenden

Kinzlayer said...

/agree with Vykor... every new toons I have made on a new server I have always taken Skinning and Mining, best money starter. Beside most professions caters to you at cap-level anyway. Of course how fast you accrue gold is definitely directly attributed to your server's economy... I was very surprise to see that on Mal'Ganis for example a stack of Copper Ore generally sells for more then 1g 50s... my little Dwarf hunter almost has enough money to blow it on a Precisely Calibrated Boomstick even if he will not be at level to use it, god I love that gun.