Lost Page – We Have What You Need

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You Have Found A Lost Page!

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You have found a lost page from the Journal of Marcus Ty. In this page, I talk about the Warcraft gold economy and why it’s important that you understand how this works if you are to get to your first million gold in Warcraft.

This page explains how gold flows through the economy and the factors affecting the price of items on the Auction House. You’ll understand at the end of this page how even a low-level player can buy a vendor items for silver  and sell them on the Auction House for much gold.

Above all, Friend, keep this page safe lest it falls into  the hands of the demonic spawn we call Legion.

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When I first started playing Warcraft, I struggled to make gold. This is because it took me a while to realise that there’s a real gold economy at work in the game and that I was playing against real people, not just some computer algorithm. If you understand how this gold economy works, then you’ll always be able to make gold in Warcraft, no matter what class, faction or level you are in the game.

Even the more experienced players struggle with this. They believe there has to be some secret sauce, some hack or cheat that will get them to their million gold in Warcraft in an instant. The truth is much simpler: there is no secret sauce. It’s all about understanding the Warcraft economy and learning how to trade within it. It’s best to take note of what the great goblin traders say about this: “It’s an economy, stupid!”.

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“It’s an economy, stupid!”

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The Goblins have a saying:“We have what you need!”. The Goblin know how the Warcraft gold economy works and always make a killing by supplying folks what they need at a very reasonable price.

This is no secret – we all know what players need. They need the best enchants; the best potions and flasks; items to complete quests; items to obtain achievements; mats for crafting; and so many things it’s enough to make you head spin.

Now, what the Goblins think is a reasonable price and what other players think is a reasonable, is often miles apart. This is because the Goblins also understand the principle of “Supply and Demand”.

 

 

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“We have what you need!”

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Just as in the real world, the WoW gold economy relies on the mutually beneficial exchange of goods and services based on supply and demand. Run a dungeon and have surplus stacks of cloth (supply)? No problem. List it on the Auction House for gold so those with the tailoring profession can craft desirable gear, which they in turn can list for gold. And so gold cycles through the economy and players are free to trade, gathering and crafting according to their personal goals in the game.

And how is the price of these items determined? Does Blizzard have some clever algorithm that matches supply and demand to determine the price of a listed item? The simple answer is no. Players can list their Cloth for 1c a stack or 100g a stack. Whether it sells is determined by the free market forces of those players on a particular server. Over thousands of trades, the price of Cloth finds its own level – the market’s price.

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“Supply what’s in demand”

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“Fashionista: Shirt”

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As an example, let me tell you of the selling of shirts. These items are needed by players wishing to complete the achievement “Fashionista: Shirt”.  In many cases you can buy these shirts from vendors for silver and sell them for much gold.  For example, “Common White Shirt” costs 3s from a vendor but sells for several hundred gold on the Auction House. The reason it sells for this amount is because this is what players are prepared to pay. Think of it as a kind of lazy tax!

There are numerous other such items in Warcraft that you can vendor-buy for silver and sell for gold. The important point to take away from this is that to make gold you must find items that are in demand and list them on the Auction House at a resonable price. This reasonable price is what the majority of players are prepared to pay i.e. the market price. Of course there are other factors that affect the sale of an item. These include when you sell and what amounts you sell. Get all these factors right and your mailbox will be forever briming with gold.

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You Have Found A Lost Page!

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There’s no secret sauce to making gold in Warcraft. It’s all about understanding the gold economy. By listing items in demand on the Auction House, at a reasonable price, at the right time and in the right amount, you’ll always make gold. A good example is the selling of shirts that players need to complete the achievement Fashionista: Shirt.

In the rest of my Journal I go into great detail on the workings of the Auction House and the many types of item that you can buy and sell for great profit. Keep an eye on your email for the next missing page in the series.

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