Mists of Pandaria has been live on servers for the past several weeks now and the various markets have began to settle down. Some markets I bet on have paid off, while others have been a complete bust. In this article I’ll review the ups and downs of the auction house in the new expansion and reveal those Auction House Secrets that have put gold in my bags.
This weeks post is part of Cold’s Gold Blogging Carnival.
On The Hording of Trading Mats
I’ve never been one for stockpiling between expansions, preferring to keep a minimal inventory. Keeping large amounts of gold tied up in mats can be a risky strategy, but there were some mats that I did buy just before the release of MoP to enable me to craft some of my favorite crafted pets, namely Maelstrom Crystals for the crafting the Magic Lamp and Globes of Water for the Tranquil Mechanical Yeti. I was betting that these markets in Mechanical traded pets would be as strong as in the early days of patch 5.04 and that patch 5.05 (MoP) wouldn’t be greatly different.
Well, yes and no.
On the Shattering of Maelstrom Crystals
Maelstrom Crystals had begun to fall in value well before the release of patch 5.04, resulting in a steady fall in the price of the Enchanter’s Magic Lamp which is made predominately from Maelstrom Crystals and Heavenly Shards. The crystals can also be ‘Shattered’ into Heavenly Shards which also reduces the price of these mats.
With players dumping crystals onto the auction house at ever increasing numbers the price crashed from 45g per crystal to 3g per crystal, depressing the price of Cataclysm Enchanting scrolls in general and a fall in price of the Magic Lamp from 1000g to around 200g.
With the release of patch 5.04, I sold out of my stock of Magic Lamps for a little over 1000g each; after the launch of MoP, the market for the Magic Lamp was greatly depressed with some players (Kolbolds) crafting silly numbers of lamps and posting them at silly prices. As for my stock of Maelstrom Crystals, I had only horded a few stacks at an initial outlay of 13g each – so I didn’t come away too badly. In this situation, it’s best to step away from a falling market until all the Kolbolds get bored crafting for nothing and leave.
On Globes of Water
This mat is still hard to farm and is a key constituent of the Engineer’s Mechanical Yeti. This has always been a good seller on my server. The crafting of this item is limited by the availability of Globe of Water which is still difficult to farm and remains in short supply. An Auction House Secret which I share with my subscribers and those who have a copy of my TSM Quick Start Guide is to set up a shopping list for those key mats required for the Yeti recipe. I then scour the auction house every playing session depriving competitors of material and enabling me to carrying on crafting this profitable pet.
On the Cooldown of Truegold.
Many of my gold making compatriots told me they were stockpiling Truegold in the belief that it would hold its value. I didn’t buy this as just before the release of MoP, other players begun to dump there stock. I thought that this was a sign that the market believed the price of Truegold would fall. News from the beta was that the daily cooldown for crafting the metal would be removed. If true, this would surely reduce the price.
However, as I had a fair amount of liquid gold in the bank I was able to buy up large amounts of the dumped Truegold and turn it around at a much higher price just before MoP. As soon as a player dumped his stock, I flipped it, keeping the price artificially high and making a good profit into the bargain. As soon as MoP hit the servers I stopped buying Truegold, reducing my stock to zero. As of writing, the price of Truegold has recovered slightly on my server – but not by much.
Transmutation Alchemy of Living Steel
Living Steel is the new Truegold in Mists of Pandaria. I knew my Alchemist would become a crucial member of my gold making team once MoP went live, if only to transmute Ghost Iron bars (in plentiful supply on the auction house) to Trillium bars and Trillium to Living Steel, albeit with a daily cooldown; however, for those Alchemists that had the spell ‘Riddle of Steel’ it was possible to bypass the daily cooldown, albeit with the additional cost of 3 Spirit of Harmony. My plan was to learn the Riddle of Steel and make a fortune with the transmutation of Living Steel.
But the best laid plans of Mages was soon to be in tatters.
Farming Spirit of Harmony
As I’ve mentioned elsewhere – Surviving Mists of Pandaria – the drops of Mote of Harmony in the new expansion (patch 5.05) is very low, albeit much lower than it was in the beta. Also, Spirit of Harmony is soulbound, which means unless I move my Alchemist out of the Auction House and into Pandaria and spend many hours grinding away for motes, my Riddle of Steel strategy looks like a complete bust for the moment.
Cooking in Mists of Pandaria
I’m so pleased I levelled my Cooking before moving into the new expansion. I knew from the beta that Cooking and all the ingredients needed to level the profession would be a good money spinner. This has proven to be very true and the selling of Meats and Cooking Ingredients has been highly profitable. I have recently updated my Journal Cooking Guide with all the strategies.
I hope you have found this article useful?