Wednesday, May 26, 2010

Auction House and Gold Generation for Achievements

I have little in the way of achievements to report just now. Almost all of my focus has been on getting a good cash-generating system in place so that I can simply follow a quick process every day and make solid profits.

My gold generation is coming along very well. I am currently working on an MBA in Finance and one of the most contentious issue is "Does the efficient market hypothesis hold true in the real world?" In other words, is it possible to make long-term, sustainable profits at a rate higher than the amount of risk you take. (roughly).

In this experiment, all I can say is a resounding "yes". People are lazy and will pay a lot for convenience it seems.

A quick status update: I have 3000g on my main (Deathspiral), 3 of every single enchanting scroll that is profitable on my alt poster (around 50 different scrolls, so 150 total) and an alt that is completely full of jewelcrafting mats. I also have lots of high-quality blues and epics on the AH. Oh, and I powerlevelled Jewelcrafting from 0-450 in an hour for about 4000g.

I started with less than 1000g a week ago and I'd say my net worth is right around 10,000g now, not including the new JC profession. Not bad for my first week.

This project to make gold has made me interesting in starting a side business in the real world. I'm going to use the same ideas: cheapest inputs possible and highly automated/computerized processes to build some websites. We'll see how that project goe in time.

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