Sunday, 22 April 2012

Prospecting: Iron Ore

Obsidium, Elementium and Pyrite are not the only ore you can prospect for profit.

It took me a week to buy one hundred stacks of iron ore. You can farm lots of Iron ore in Ferales.

Source: wowhead

This is the resulting amount of uncommon gems after the prospecting. It will take some time to sell all these but with lots of people switching from their mains to levelling alts and professions I hope to sell them all over the next two weeks.

Results of Prospecting 2000 Iron Ore:

158 jade
144 lesser moonstone
139 citrine
22 star ruby
18 aquamarine

Using Tuj EU mean data

Jade 12.77
Lesser moonstone 2.96
Citrine 12.12
Star ruby 8.73
Aquamarine 8.58
Cost of Iron ore mean 38.58g/stack x 100 stacks = 3858g

Jade = 2017.66
L.Moon = 426.24
Citrine = 1684.68
Star ruby = 192.06
Aquamarine = 154.44

Total value = 4475.08
Potential profit = 617.08 Not great profit

Using my realm data

Took me a week to buy 100 stacks because I only bought ore that was below 14g/stack.

Cost is 14 x 100 = 1400g

Jade = 2370
L.Moon = 403.2
Citrine = 695
Star Ruby = 129.8
Aquamarine = 113.4

Total value = 3711.4
Potential profit = 2311.4 Nice profit from 1400g investment.

What you might want to look into doing :

Farm iron ore, sell it raw
Farm iron ore, prospect ore, sell gems
Buy iron ore, prospect ore, sell gems

Keep an eye out on the price of iron ore and these gems. Use this Auctionator shopping list to get a snapshot of what is going on in this market on your realm.

*** iron ore_Gems
Iron ore
Lesser moonstone
Star ruby

If you go to TUJ -> Enhancements -> Jewelcrafting scroll down to the bottom and you will see a Prospecting Value table which can give you a good idea whether this is worth doing on your realm.

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