Monday, 30 July 2012

1000k in 65 days: Making Gold before Mists of Pandaria

First take a look at this post about my gold making in June: Making Gold at the end of an expansion: Up 429k in 30 days

TSM Stats
MySales last 30 days
July Gold Chart
Undercut or Overcut: Glyphs vs Cata greens
The countdown has begun

I hit the milestone of Two Million Gold at the end of May and now 65 days later I hit the milestone of Three Million Gold. There is probably too much information to cover in one post so i'll  start off with a lot of screenshots to give you an idea of how I made 1000k in 65 days.

TSM Stats for the last 30 days

 MySales last 30 days

July Gold Chart

Undercut or Overcut: Glyphs vs Cata greens

These two markets are making me the most amount of gold right now, closely followed by Scrolls and Transmog items.  I sold 23 Cata greens (armour, weapons, rings) and had 7.5k in glyph sales in the last 24 hours.

In Glyphs I tend to undercut, overcut and price match depending on what sort of competition I am facing. Recently I tried out a 2 phase re-entry into the glyph market. Normally I post pretty casually at 48hrs and come back 48hrs later collect gold and expired mail and repost one of every glyph again for 48 hrs. I used a relatively high threshold which meant the majority of my glyphs were posted at a high fall back of 200g.

Ink price is around 8 to 9 gold.

About a month ago I posted a wall (3 glyphs deep) at 100g. I kept this wall up for about a week and several glyph competitors stopped posting.

I got a few mails and whispers about ruining the market and how I was ruining the market for myself because before you could sell 200g glyphs and now you sell them for 100g.  After seeing some of the main glyph competitors leave I stopped walling and started 1c undercutting, I would cancel/repost 3 times a day and started making real nice money, the average price of a glyph is around 75g and ink prices have started to fall down to around 5 to 6 gold per ink.

Now I could have skipped walling and just became more active in the market by undercutting 1c in a high priced market. However there was so many competitiors in the market that it was usual to be undercut by 8 - 10 players within an hour of posting. By putting down the 100g wall for a week there are now 3 - 4 players willing to continue with lower priced glyphs.

With selling Cata greens I guess you could say I overcut. I set my threshold 1g below my fallback. I buy any item below 75g and sell items for 300-1000g depending on the item and the day, lower for Mon – Thur and higher for Fri – Sun.

I post up one of each glyph, but post up seven of every 77-81 green item (ignoring the suffix). I make sure to restock all my glyphs to 18 currently and I am building up another stock of glyphs in a Guild Bank currently five of each glyph. So after a restock (I restock 2-3 times a week) I have 23 of every glyph in the game.

For glyphs I try to pay attention and have added the names of all my competition to my friend list, noted their routine and what glyphs they are missing. For Cata greens I can not name one of my competitors.

I log on to my glyph alt 3 times a day and cancel / repost, I log on to my Cata green alt once every two days and never cancel and never undercut.

I check on herb prices 2-3 times a day, I check prices on cata greens 2-3 times a day.

You may have slightly different strategies but I find that I deal with several markets in a similar way. Glyphs and Gems are very similar, Cata greens and transmog are very similar. 

I like 48hr posting and I like to Overcut.

I am seeing a decrease in sales for low end items, but an increase in sale of high end items. I’ve sold several high end items for 9-10k in the past month which has been great but I am running low on stock of these high end transmog items, I’m hoping AOE looting and lots of people levelling up Panda’s will bring a lot more items on to the Auction House in MoP.

The countdown has begun! Tick Tock MoP

 The Auction house is very volatile currently with a lot of items being dumped. I’m keeping an eye out for cheap herbs and ore which I would love to really stock up on. I will probably post a more indepth update but the alliance project is going really well, I need to finalise a few professions but I think I will be able to get one of each profession on both factions and 15 level 85’s (12 currently) by 25th September. I still have not decided whether to buy MoP online or pre-order a hard copy. Since I will be buying two copies I might just buy one of each.

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  1. Quite like you I'm really looking forward to increasing my stock of all those awesome looking low level transmog items come the Panda explosion. I had stopped buying certain leather because I felt like the market was getting too saturated, but I'm starting to buy that stuff now, even though I may not sell it due to undercuts currently, I'm hoping the influx of monks in less than 2 months will increase mogging sales in that area drastically.

  2. My server's economy must be tanked. We're not even close to the prices I'm seeing you post.

  3. Congrats on your sales, but like Romanoutlaw above, my realm's prices have also tanked and tanked horrible, especially on crafted items.

    Whilst there's plenty of people in a rush to get to 85, there has been very little impetus for people to gear beyond that at all, knowing in under 2 months they'll be levelling all over again and even i378 items will be replaced by MoP Greens.

    Most of the vicious items on my realm sell for more as DE'd shards right now... sad face

  4. I've started to see my sales drop off 10-20% in the past week also but there are still so many ways of making gold, you just need to find out for your realm. Check out to see what is moving on your realm.

    This is probably the hardest time to make gold, and the worst time to have lots of liquid gold. I am buying up ore/herbs but 5-10k does'nt take much out of 3 mill lol. Hopefully some tcg mounts or rare items pop up for me to invest in.

  5. Massive congrats on three million Farli, that sure takes some dedication! =D

  6. Impressive post with the useful details. Thanks for the sharing.

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