Tuesday, June 15, 2010

Market Oppertunity in Fish Feasts?

I wonder why they spike so much on Saturdays. At any rate, I'll be flipping a few stacks on Saturday (probably as singles)

+4 to all stats

Gold grinding is still going well. I only sold a single 500g+ scroll yesterday (Typically I'll sell 2-3) but I sold a lot of 10g-20g profit items.

I'm getting close top the point where I have three of every enchant on the AH at all times. Once I get there, I'll be able start collecting gold without immediately spending it on more inventory again.

One special thing of note: I picked up the +4 to all stats enchant yesterday from the AH. I'd been looking for several weeks and I'd never found it (it's a world drop with a really low drop rate). They seem to be selling right now for 130g each, costing 30g to make. Total price paid? 20g buyout!

Monday, June 14, 2010

Gold, Gold, Gold

Gold generation is going well. I originally planned to take on several markets at once - Jewelcrafting and Enchanting Scrolls. I've come to realise that I don't have the resources to do both.

My primarly focus is, therefore, on enchanting. My goals have changed slightly as well - I plan to have 3 of every single profitable scroll in my inventory, with 2 on the AH at all times. I plan to only spend a few minutes per day posting and relisting and to craft twice a week - Wednesday and Saturday mornings.

I am using Quick Auctions 2 to manage the pricing and relisting of the enchanting scrolls, with the threshold set to guarantee a profit at all times. I keep my fallback slightly lower than the existing competition's normal prices in order to drive them out of the market. And I don't undercut by a copper - it's often by 5g or more. Again, my goal is to make the market hostile to everyone who isn't me.

3 of every enchant in the game is a lot of inventory - something in the region of 35,000g worth of materials. In addition to this, I need to have large stockpiles of every mat so that I can quickly recraft sold items on my two crafting days. Large being thousands of shards and dusts and specialty items. It's a big investment.

As a result, I've stopped simply buying what I need and I've started to buy anything that is underpriced, regardless fo quantity. My hope is that if I keep buying cheaply, I'll slowly build up a huge stockpile of mats that I can use to craft items. In addition, by keeping mats off the AH, I make it more expensive to get enchants made, and thus increase the chances that someone will simply buyout one of my auctions rather than getting someone to craft it for them. With the exception of a few rare cases (+22 intellect and spellpower), I typically cap my profit at 100g to prevent buyers from hunting out an enchanter themselves.

I'll post again later, with screenshots, explaining how I keep track of all the items that have sold and which items are being crafted.

Monday, June 7, 2010

Enchanting update and plan for more Molten Core

I'm going to spend some time in Molten Core this week to get my rep up and to farm materials for Thorium Brotherhood revered (needed for a couple of enchanting recipes). I also want to pick up the spellpower enchant.

I am also going to round out my old-world enchants this week. Crusader and Fiery are selling extremely well, so much so that I've started to list 3 at a time on the AH instead of my usual two since they often sell out before I can repost. In absolute terms, I'm only making 15-20g or so per fiery, but in percentage terms, it's great.

Here is an excellent guide to BOA enchants that I'm currently following: http://theahpile.blogspot.com/2010/05/boa-enchanting-guide.html

Friday, June 4, 2010

Chef's Hat

"I did 100 days of dailies AFTER the dailies for Chef's title, and all I got was this lousy hat!"

The benefits of mispricing

By complete accident, I posted some solid stone in my inventory at a truly ridiculous price. I think I tried to set the price per unit and wound up pricing a unit the same price as an entire stack.

Anyway, it sold. I guess it shows that some people will buy anything.

Wednesday, June 2, 2010

Going for every enchanting recipe

My "endgame" goal with enchanting is to have every single enchant in the game available on the AH at all times. Since it's free to post enchants (other than the 1-2 seconds of extra time) there is little downside in having a "long tail" inventory so long as I keep my thresholds higher than the materials cost.

There are several enchants that look crappy right now because the scrolls sell for much less than the market price of the mats. Quick Auctions simply won't post these, so there is no real cost to me for having these lying around. If demand DOES increase, I'll already be there, covering it.

It's worth noting that I plan on making all of the low level enchants available, albeit at a huge markup. I am not selling an enchant for less than 10g and the mats cost me (including vellums and AH cut of 5%) around 5g. For the lowest level enchants I'll simply keep 3 up at all times, with 20g fallback, 10g threshold and a 10s undercut.

I had another 2000g sales day yesterday. It seems like anything under 600g is the sweet spot for Blade Ward scrolls on my server. I get a lot of undercutting competition when I let the price get back up to 650g or so. The mats are 496g at market prices (I never pay market) so I'm always making 100g or so each time I sell one. I've capped my price at 599g for now to avoid people seeing the juicy returns.

I plan on getting all of the enchants in the game, as mentioned above. To do this, I'll be working my way through this list on WowWiki. It looks like a lot of the interesting enchants are from reputations that I need to be collecting anyway.

So why all the focus on gold and less focus on achievements? Simple: I am starting to realise that the hardest achievements are simply not going to come to me easily. I need Gladiator this season and, while I can PVP, I certainly don't have a gladiator-ready team at the moment. I, therefore, plan on buying one. I'm going to look for a 3's team that will take 100,000g each to get me glad. I may need to pay for some high-end raiding achievements as well. (heroic lich king?) In particular, I need cash to pay for any achievements that are going away in Cataclysm that I can't get on my own.

Tuesday, June 1, 2010

Flipping pets on Alliance

While I have been focusing heavily on getting my enchanting business up and running, I thoguht it would be worthwhile to briefly post on my first foray into the Alliance side fo the AH.

Last week, I picked up one of the Horde-side Argent tournament pets from a guy in trade. He was asking 400g and I offered 312g. (Market price horde-side is around 420g).

I moved it to a level 1 alt on the alliance side via the neutral AH and flipped it quite quickly for 650g. I then scanned the AH using auctioneer to find arbitrage oppertunities and wound up loading up on cheap level 45-ish epics for 80g each, a few very good twink blues in the range of 20g-30g each and 4 stacks of Northern Spices for 35g each.

Out of sheer dumb luck, someone had bought all the spices out horde side, and I managed to flip all four stacks for 235g a stack. The epics all sold for around 400g each with only one relist and most of the blues have also sold for around 200g each. The gold per hour is ridiculous and I plan to do this on a bigger scale soon.

Gold, SSC and Argent Dawn

Most of my efforts have been focused on either raiding or generating gold this week. I'll start with the non-gold stuff:

I hit exalted with the Argent Dawn by running my wife's alt through Undead Stratholme a bunch of times. No mount dropped, alas. I also did living side, mostly for the Righteous Orbs to sell for the Crusader enchant.

I also did some random BC raids, including killing Lady Vashj in SSC. She's much easier at 80 :)

On the gold front, I am finally getting a solid system together. I'd like to do all of my crafting 1-2 days a week since it takes up so much time. My biggest sticking point was actually getting enough vellums at a decent price. In the end, I got some guild scribes to help me out but for the future, I've decided to level up a scribe solely to help me get cheap vellums. (The markup on the AH is insane - 800% or more.) Tankspiral, my new level 58 Deathknight, is now my new scribe.

Enchants are selling well but I feel like I need to be more agressive with my pricing. The money to be made on bigger enchants like Blade Ward is ridiculous - 200g+. I think it's time that I crash the market a bit since I now know who my competitors are.

I'll finally be picking a good epic gem recipe for my jewelcrafting today. I'm going to get Delicate Cardinal Ruby since it seems to have the most markup (50%) and seems to be selling well.

I hope to finish getting a gold-making system in place this week and finally go back to busting out achievements. 7000 points by the 15th of the month is my current goal.