Selling Shirts in Legion

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Vendor Shirts
Vendor Shirts

 

Ask the other Mages in the Kirin Tor and they’ll tell you that I’d sell the shirt off my own back if I thought it would make me a profit. Well, they’re not far off!

Since the release of Legion and the addition of the new achievement Fashionista: Shirt, I’ve been buying vendor offered shirts for silver and selling them for gold – quite a bit of gold, actually. The achievement requires players collect 15 different shirts, so there is a steady demand for them on the Auction House.

The technique is very simple:

  1. First visit a shirt vendor and buy several types of shirt – usually costing silver.
  2. If using TSM create a group and suitable operation.
  3. List your shirt as part of your daily trading.

I limit my shirt buying activity to just a few vendors. Here are the ones I use:

  1. Karandona – Threads of Fate, Dalaran
  2. Broxel Goldgrasp – Argent Tournament
  3. Carla Granger – Trade District, Stormwind
  4. Orleans, Orgrimmar

There are many more if you want to take the time to research them, but this should get you started.

Here is my TSM list:

I’ll leave you the small task of creating a suitable auctioning operation to go with this group.

Here’s wishing you more gold in ya bags!

Marcus Ty

Legion Gold Guide
Legion Gold Guide – Now Live!

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Gold Making Strategies – Arcanite Bars

I’ve tweeted (#AuctionHouseSecrets) recently of my success at selling Arcanite Bars on my server for a good profit and thought I’d take some time to write a short post, exploring the rational behind this gold making strategy.

Arcanite BarsAt first blush it might seem that selling this Old World metal wouldn’t be very profitable, but you have to look at the underlying market to understand why you can still turn a very profitable buck with this item.

Part of the success of this market is that the metal is still relatively in demand. It’s currently used in forty nine crafting recipes – mainly Blacksmithing and Engineering, but there’s a small number of uses in Jewelcrafting and Tailoring. If you have read my 5 Goblin Principles of Auction House Trading, you will appreciate that demand for an item plays a key role in the success of  any trading strategy.

Another reason this trading strategy works is the scarcity of the metal. If you are a Blacksmith you will have probably been frustrated by the fact that you can’t smelt Arcanite. It can only be made by Transmutation, which in turn means the Auction House supply is determined by the Alchemists on your server. On mature servers, most Alchemists are competing head-to-head with other Alchemists in the Living Steel market where competition is very cut-throat and not as profitable.

The combination of scarcity and demand of Arcanite means that the price of the metal stays relatively constant. On my server, I tend to set the price and control this little known market (I’m sure not for long)! Take a look on TUJ and you will see that over a six month period, the price rarely moves below 100g on most EU servers. I price my Arcanite at or a little above market price.

Even at market price, the profit in Arcanite can be substantial, depending on how you source the base material. Arcanite is very simple to make, it just requires one Arcane Crystal and one bar of Thorium. I nearly always buy my material from the Auction House, but pay no more than 10g per crystal and 2g per Thorium bar. Now that’s a great profit.

In summary

The selling of Arcanite bars on the Auction House illustrates some of the common trading strategies I use to make gold in WoW. By understanding what’s in demand on your server and setting a fair market price, you’ll always turn a good profit quickly and efficiently.

WoW Auction House Guide
Buy the Auction House Gold Secrets Guide

 

20 Days of Gold Making – Starting Over

I’ve been making wow gold for so many years that I sometimes forget how hard it can be for players new to the game to get started. So, as part of ‘Nev’s – 20 Days of Gold Making‘ I thought I would write a short post on some basic gold making strategies for those players just starting out on a new server and in their lower levels.

Choose A Character You Like

World of Warcraft was designed to be character building – well literally! So, it’s best to roll a character that best suits you as a player and not worry if it’s suited to making gold. The gold making I teach is based firmly on the wow gold economy, so it works regardless of race, class or faction.

Those of you that follow me on Twitter will know that, often as not, I tend to play a Mage. It’s just the way I roll! But I often like to roll a completely new race, class and faction just for the hell of it. In fact, I have sometime been known to roll Horde!

Don’t Listen To The One Hack Wonders

Now, as a Mage in my early levels, I too struggled to make gold. My guild mates tried to help, but their advice consisted mainly of grinding this mob and that mob for hours on end in the hope of some rare item dropping. Other would suggest this hack and that hack which would soon be nerfed with the coming of the next patch. Some even suggested I buy my gold.

What Madness! Buying gold will get you banned and why spend the real bucks when there’s gold in-game for the taking.

Time Is Money

As  a lowly Mage when first starting, the strategy of endlessly grinding as a the main method of making gold was always doomed to failure. And anyway, who has the time?

Now, don’t get me wrong. Grinding in the early levels can be a valid strategy to begin with – to help build a little capital, but it can’t be the only strategy. It simply takes too much time for those of us who have to inhabit the real world. And in the early days, that is what I was told to do.

Learn How To Trade

No, the best way to start making gold in World of Warcraft  is to first get a basic understanding of the Warcraft of Warcraft Economy and then learn to trade. If you understand what’s in demand on your server, you’ll find it easy to acquire those items – either through simple grinding as part of your daily questing, or picking up items listed below market price on the Auction House.

And learning how to Trade on the Auction House is the quickest way to make gold.

Install The Right Addon

To trade effectively on the Auction House you need the right addon. If only I had known this when I first started playing wow. Learning How To Install Addons is very easy, but they do need to be maintained.

Choose a Profession

The next important gold making tip for those just starting out is to choose two primary professions – one of which needs to be a gathering profession:

  • Herbalism
  • Mining
  • Skinning

The other profession should be a complementary crafting profession. I prefer these days to have Alchemy and Jewelcrafting, but most of the crafting professions provide opportunities to make you gold.

Building Capital

To trade effectively, you first need to build a little capital. Not much, but enough to buy and sell a few items on the Auction House and to pay the Auction House fees. New players are amazed how costly it can be, simply to list a few items.

Now, how much is enough? Well, You can start hitting the Auction House with less than 20g and gradually build up to a 200-300g quite quickly – providing you can gauge demand on your server.

Here are few gold making strategies that can build capital at the early levels:

  • Gather material using your primary gathering profession
  • Gather cloth through daily questing and selected dungeons
  • Gather food items in demand for the Cooking profession

Any of these basic strategies will soon net you more than enough gold capital to start you trading and listing items on the Auction House more frequently.

In Summary

Don’t listen to the ‘One Hack Wonders’. Learn the basics of the World of Warcraft Economy and those Auction House Secrets that will earn you gold quickly and efficiently, without the need for hacks and cheats.

Choose a gathering and crafting profession, early in the game  (level 5) and use your gathering profession to build some trading capital.

By trading every playing session, even low level characters can amass thousands of gold very quickly.

WoW Auction House Guide
The Marcus Ty Auction House Gold Secrets Guide

 

 

 

 

 

Five Auction House Trading Mistakes

Auction House SecretsWhether you’re new to the Auction House or have been trading for a while, players often make these same five trading mistakes. Cure these mistakes and you’ll be trading like a goblin pro.

Forgetting to Trade

A common mistake for those players new to WoW is to forget to trade. The Auction House is your friend and trading a little every playing session helps to keep the WoW gold flowing in. Those herbs sitting in your bags or in the bank are worthless unless you list them. Think of the Auction House as a ‘Daily’ and make it part of your regular game-play. For those tied to their desks during the day then the Remote Auction House is now free and will allow you to re-list expired auctions and trade a little during breaks around the water cooler.

Death by a Thousand Undercuts

Players lose gold by constantly undercutting each other on the Auction House when they don’t have to. Take the example below:

Don't Undercut
Death By a Thousand Undercuts

Player 1 lists Potion of Luck for around 97g. Player 2 comes along and undercuts player 1 by a massive 12g gold. Time passes and player 3 comes along and undercuts player by another 1g. Whats wrong with this picture?

Well, Player 2 may have thought that only a massive cut in price will shift his Potion of Luck. This may be a valid strategy on low population servers where there isn’t demand, but why undercut by so much? Player 3 has simply followed suit and blindly undercut by another gold – probably because his Auction Addon is set up that way. Given that Player 2 auctions are expiring, it would have been better to list closer to the price of player 1.  Player 3 could even have listed above the price of Player 1 if there were few listings of Potion of Luck on the server and demand remained high.

Not Listing At The Right Price

Players often sell their items at prices determined by previous listings, as in the example above. Hence, Player 3 lists his Potion of Luck for 84g. This may be a poor strategy as the value of 84g may well be far from the market price, that is, the price most frequently traded. It’s the price that most players expect to pay, given the cost of reagents to craft the item plus a small premium. Most Auction House Addons will work this out for you, but many players configure these incorrectly or don’t maintain the pricing data leading to widely varying prices. Keep auction data refreshed and set a price limit, below which you won’t sell – at least until the market improves.

Poor Timing

Trading is a bit like golf (or baseball if the cap fits): timing is everything. Get this wrong and however hard you come out swinging, you’ll miss the ball. Trading, to some extent, also relies on good market timing. That is, to trade successfully it’s best to sell your items on those days when demand peeks. This is normally at the weekend or on certain days of the week depending on your server. World events such as the Darkmoon Faire will also influence demand for certain items. If you really want to get into some detail and follow the market demand closely then check out these sites:

Underestimating Demand

Players often sell items that have little demand and end up spending a fortune in auction fees, listing the same items over and over without success. To trade successfully you must sell those items that are in demand and have a good turnover. In general these tend to items needed for crafting. These fall under the general Auction House category of Trade Goods. Sure, you’ll want to craft the occasional Epic Chopper, but demand for these will be low compared with say a bar of Trillium. Again, check out sites like WoWuction.com and look at the reports listing those items rising in demand on your server.

If you found this article useful then you might also like:

  1. Gold Secrets of The Goblin Traders
  2. The Remote Auction House – Tips and Tricks
  3. The 5 Goblin Principles of Auction House Trading

If you like the article then buy the guide:

WoW Auction House Guide
The Marcus Ty Auction House Gold Secrets Guide

 

 

 

 

 

 

 

Cross-Realm Auction House

Auction House SecretsBlizzard caused an uproar, a little while ago, when Tom Chilton (Game Director) muted the possibility of a future cross-server Auction House. Why this should cause such angst among players, I’m not sure, but I thought I’d explore some of the implications of such a move as a wow player and gold maker.

This post is part of Cold’s Blogging Carnival

Every Server A Market

When players, new to the Auction House, start to trade for the first time they can often be overwhelmed by the many hundreds of items listed on any one day. So it helps to group these items into logical categories which can then be thought of as markets in their own right. I always encourage new players to trade in those markets closely associated with their primary professions. So an Alchemist will probably spend a great deal of time trading herbs, while an Engineer will be trading in ore and metals. After a while, players soon learn the pricing of popular items and what sells and what doesn’t on their server. However, move to a different server and the markets can appear very different. This is because each Realm (server) is a market in it’s own right with no ‘official’ communication between them.

Population Size Matters in the Gold Economy

Blizzard is constantly trying to level out the population sizes across it’s servers, by migrating players off those servers with a high population to servers with lower populations. This not only helps the game response times but balances out the gold economy across the many hundreds of servers in Blizzard’s empire. Population size greatly affects the wow gold economy on any given server in the Warcraft universe.

This is also true in the real world economy where they talk about the liquidity of a market – that is, the ability to buy and sell an item without greatly affecting its price. Small markets, as found in some low population Warcraft servers, will struggle with liquidity and experience wild swings in pricing across many common items. If you play on a low population sever, you have probably experienced this. It’s the reason why some players have great success in some markets and not in others. The Transmogrification market is a good example – it works on some servers and not on others.

Market Manipulation

Another problem with low population servers is the ease with which some players can manipulate the market. In real world markets this is something that governments try to do, but often fail. The classic example is the British government spending billions trying to keep the price of Sterling above an agreed European limit in 1992. Ultimately, the market won and British taxpayers paid the price. Famously, a one George Soros, a currency investor, made billions betting against the rise in Sterling. My kind of trader!

I recently did something similar on a European server, buying up large quantities of Truegold just before MoP, trying to keep the price high until I could offload the lot just before patch day. A risky strategy, but I had some success because I chose a low population server. Unfortunately for the British government, the currency markets in 1992 had a far greater built-in liquidity

Competition is King

Overall, a lack of competition is a bad thing. This is because most players are buyers as well as sellers. On small population servers where I’m a net buyer of an item – say ore – the lack of competition may be a bad thing for me if one or two player control the market and may well collude to keep the prices jacked up (doesn’t happen in the real world, right?). The best thing to do if you’re a seller of an item with high competition is to try to avoid it and in various other articles I’ve explained how to do this.

The Cross-Server Economy

Which brings me to the possibility of a cross-server Auction House. From the above discussion, I think it’s clear that a cross-server Auction House should result in a bigger and more stable Warcraft economy. Not only would markets experience greater liquidity but be less prone to player manipulation. How many time have you heard a player boast on a blog or Twitter that they have ‘reset’ the market for a particular item? Yes, competition would increase across many markets, but those players that learn to master the Auction House Secrets should come out ahead.