If you're leveling any skill you know that crafting certain items stops offering increases in skill level. When they do that they are colored gray. How do we make money on that?
In professions where you have to turn a raw material into something else to use it (mainly mining/smelting), you can instead sell the raw material, ore, on the Auction House and then buy the bars you would have made.
Copper ore sells for about twice as much as copper bars. Why smelt copper bars and devalue your ore if it's gray gives you no skill? Sell that 20 ore, buy 40 bars, then craft twice as much you wanted to craft.
Thursday, November 27, 2008
The profit is in raw materials
If you want to make WoW Gold then you have to deal in raw materials.
To gain skill in professions you have to turn raw materials into something. Ore is smelted into bars then crafted into, well, something. WoW players like to level their skills no matter what they are. The modern economy of WoW has many level 80 players funding their "alts" with the mountains of gold the level 80's can make. Spending a few gold to level up skills on a new character is much easier than doing the gathering themselves.
That's good for us. The high demand for those raw materials means the lowest priced items in the auction house sell quickly. We can take our profits and invest it in more trades or buy that sweet weapon we've had our eye on.
To gain skill in professions you have to turn raw materials into something. Ore is smelted into bars then crafted into, well, something. WoW players like to level their skills no matter what they are. The modern economy of WoW has many level 80 players funding their "alts" with the mountains of gold the level 80's can make. Spending a few gold to level up skills on a new character is much easier than doing the gathering themselves.
That's good for us. The high demand for those raw materials means the lowest priced items in the auction house sell quickly. We can take our profits and invest it in more trades or buy that sweet weapon we've had our eye on.
Buy Low - Sell High
The most basic strategy in the WoW Auction House is to buy something put up too cheap and then resell the same item at a higher price. Easy profits can be made this way and all it takes is a trip to the mailbox and back.
Go to the action house and right-click and Auctioneer. Do a search for Silverleaf.
(Click screenshots for a larger picture)
What we're looking for is a gap near the cheapest items. Here we see one at 10% and one at 36%. The percentages don't matter but they help us see the 8% gap between the lots for sale. After that the gaps flatten out to 1% with 1 6% jump in there between 45% and 51%. To get to that 6% gap we'd have to buy 51 Silverleaf and that is probably a little too much. 20-30 is usually OK for this strategy.
Let's buy the 8 and the 1 for a total of 26s 96c (26.96). Now lets resell this. The lowest price is now 9.75 each. We're going to sell the 9 we have for 9.50 each.
We set our Bid per item at 7.00 and our Buy per item at 9.50. We're going to split it into 2 auctions of 5 to appeal to more buyers. After that's set click Post.
On this transaction, if it works out, we'll make 58.54 minus some auction fees. Easy money for a trip to the mailbox.
You won't have much money to start so these small transactions will add up fast if you can do 5 every time you go to the Auction House.
Miners can do this with copper and tin ore early on. Herbalists can do Peacebloom and Silverleaf. Once you have enough money you can begin trading in items you can't use or even gather.
Go to the action house and right-click and Auctioneer. Do a search for Silverleaf.
(Click screenshots for a larger picture)
What we're looking for is a gap near the cheapest items. Here we see one at 10% and one at 36%. The percentages don't matter but they help us see the 8% gap between the lots for sale. After that the gaps flatten out to 1% with 1 6% jump in there between 45% and 51%. To get to that 6% gap we'd have to buy 51 Silverleaf and that is probably a little too much. 20-30 is usually OK for this strategy.
Let's buy the 8 and the 1 for a total of 26s 96c (26.96). Now lets resell this. The lowest price is now 9.75 each. We're going to sell the 9 we have for 9.50 each.
We set our Bid per item at 7.00 and our Buy per item at 9.50. We're going to split it into 2 auctions of 5 to appeal to more buyers. After that's set click Post.
On this transaction, if it works out, we'll make 58.54 minus some auction fees. Easy money for a trip to the mailbox.
You won't have much money to start so these small transactions will add up fast if you can do 5 every time you go to the Auction House.
Miners can do this with copper and tin ore early on. Herbalists can do Peacebloom and Silverleaf. Once you have enough money you can begin trading in items you can't use or even gather.
Tuesday, November 18, 2008
Auction House Basics and the Auctioneer Add-on
When you get to the auction house and right-click and auctioneer the Auctioneer add-on will kick in with an enhanced Auction House interface. From here we begin our empire.
If your an herbalist, type Peacebloom into the search box and look at the prices. You want to be the cheapest so yours will sell fast. You don't want to let it sit too long, or worse, not sell. Check the box that says Show stacks as price per unit. This will tell how much each unit of peacebloom sells for. You'll need to know this because you want to sell it just a little bit cheaper.
Now click Appraiser tab and highlight Peacebloom. The Appraiser will suggest a price, ignore it. In the Buy Per Item box put the lowest price per unit you found minus 10 coppers. (100 coppers = 1 Silver, 100 Silvers = 1 Gold). A low price on Peacebloom may be 20 silvers each so you would put 19 silver and 90 copper as the Buy Per Item. The Bid Per Item has to be lower than the Buy Per Item so make that 20% less than the Buy Per Item Price.
Stack size can be fairly important. If you sell a stack of 20 for 19.90 ea (3 Gold 98 silver) and someone else has a stack of ten for 21 silver each then they may buy the technically cheaper stack of ten instead of yours. I like stacks of 10 or 5 instead of 20 because you will appeal to more buyers.
If you gathered for the gold then sell everything you gathered. Don't smelt any ore or turn your herbs into potions to gain skill. If you want to gain skill in a crafting profession then sell half and use the rest.
This should get you some gold within 12-24 hours. Once you have some gold you can start the next step.
If your an herbalist, type Peacebloom into the search box and look at the prices. You want to be the cheapest so yours will sell fast. You don't want to let it sit too long, or worse, not sell. Check the box that says Show stacks as price per unit. This will tell how much each unit of peacebloom sells for. You'll need to know this because you want to sell it just a little bit cheaper.
Now click Appraiser tab and highlight Peacebloom. The Appraiser will suggest a price, ignore it. In the Buy Per Item box put the lowest price per unit you found minus 10 coppers. (100 coppers = 1 Silver, 100 Silvers = 1 Gold). A low price on Peacebloom may be 20 silvers each so you would put 19 silver and 90 copper as the Buy Per Item. The Bid Per Item has to be lower than the Buy Per Item so make that 20% less than the Buy Per Item Price.
Stack size can be fairly important. If you sell a stack of 20 for 19.90 ea (3 Gold 98 silver) and someone else has a stack of ten for 21 silver each then they may buy the technically cheaper stack of ten instead of yours. I like stacks of 10 or 5 instead of 20 because you will appeal to more buyers.
If you gathered for the gold then sell everything you gathered. Don't smelt any ore or turn your herbs into potions to gain skill. If you want to gain skill in a crafting profession then sell half and use the rest.
This should get you some gold within 12-24 hours. Once you have some gold you can start the next step.
Seed Money - How to get it
In the beginning, well, you're broke. You barely have enough for a good weapon and armor. How are you going to build a WoW Gold empire?
This part is easy but a little time consuming.
First, you need a gathering profession. Learn Herbalism or Mining or, if you want to get rich faster, both. If you're under level 10 you'll probably have to make your way to the closest major city for your race to get this training. Get trained and then move on to step 2.
Second, gather. Make complete tours of low level areas and gather minerals and/or herbs. These your going to sell at the Auction House for so you can have the resources to make even more WoW Gold! Go around the low level areas two or three times. It can take a couple hours but it'll pay off.
Once you've done that you can make your way to a major city and sell your hard won materials on the Auction House!
In the next post we'll go over Auction House basics and the Auctioneer add-on.
This part is easy but a little time consuming.
First, you need a gathering profession. Learn Herbalism or Mining or, if you want to get rich faster, both. If you're under level 10 you'll probably have to make your way to the closest major city for your race to get this training. Get trained and then move on to step 2.
Second, gather. Make complete tours of low level areas and gather minerals and/or herbs. These your going to sell at the Auction House for so you can have the resources to make even more WoW Gold! Go around the low level areas two or three times. It can take a couple hours but it'll pay off.
Once you've done that you can make your way to a major city and sell your hard won materials on the Auction House!
In the next post we'll go over Auction House basics and the Auctioneer add-on.
World of Warcraft Auction House Strategies
Are you a poor low level noob with barely 2 silvers to rub together? Well, pay attention and I'll show you how to make bank using the Auction House.
For starters, you're going to need the Auctioneer add-on for WoW. Go download that and get ready because in the next post we're going to get you some seed money for your WoW Gold empire!
For starters, you're going to need the Auctioneer add-on for WoW. Go download that and get ready because in the next post we're going to get you some seed money for your WoW Gold empire!
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