Auction House Gold Making Strategies

Auction House Secrets

As a Mage in my early levels I struggled to make gold. One reason for this was my lack of skill in the Auction House. Over the years I’ve sought out those players renowned for their gold making and compiled a list of some of their most successful Auction House strategies. In this post I will reveal some of these Auction House Secrets by comparing and contrasting the gold making strategies across two different Auction House markets. This post is part of Cold’s Gold Blogging Carnival.

Markets within Markets

When players come together in the Auction House to buy and sell goods, we have a market. There are literally thousands of items on the Auction House which can be overwhelming for players new to trading. So, it helps to group related item together to make things more manageable. These groups of traded items can also be thought of as individual markets. An example would be the markets of Jewelcrafting and Pets.

Some markets in WoW are bigger than others and all have their own particular characteristics such as volatility and competition. Jewelcrafting is a very popular profession among players and so can experience high levels of trading, depending on the population of the server; the market in pets, while being a smaller market, can be very competitive. Again, the level of competition and market volatility will vary from server to server, but in general these facts hold true.

Avoiding Competition

Many players get frustrated when they enter a market for the first time and experience the heat of competition resulting in their trades lingering on the Auction House only to wither and expire. Players can reduce competition in a market by finding niche items to trade. These items are often overlooked by other players who focus only on the most popular items.

An example in the Jewelcrafting market might be trading in a particular cut of gem. If every player on your server is flooding the Auction House with cuts of Brilliant Inferno Ruby, you might have more success trading in cuts of Flashing Inferno Ruby or cuts of some of the lesser known gems. Finding niche items to trade in the bigger markets, such as Jewelcrafting, is often easier than some of the smaller markets. But it can still be done.

In the Pet market for example, I like to trade in all pets. These include both vendor and crafted pets. Competition in the vendor pet market can be very fierce (at least on my server) and so I tend to trade more in mechanical pets because I have an Engineering alt at the level of Illustrious Grand Master. This gives me enough of an edge to make a profit on most trades with a tolerable level of competition.

Become a Specialist

If you really want to want to reduce competition and make some serious profit then become a specialist in a particular market. Seek out all the hard to find recipes associated with your crafting profession (you do have one, right?) and craft those items that few other competitors have access to. An example in the Pet market would be the crafting of the Mechanical Toad which can sometimes sell for thousands of gold.

Don’t Blindly Uncut

You can be sure that when listing an item on the Auction House, someone will come along and uncut you. But that’s ok. Don’t panic, it’s their loss and not necessarily yours. You don’t have to always uncut a competitor, depending on the market. In the Jewelcrafting market I rarely uncut items that I know have a high turnover, such as certain cuts of Inferno Ruby or those uncommon gems required for the JC daily. Very often, I’ll list my items at or above the market price, knowing that eventually trade volumes will be enough to meet my price.

With the Pet market things can be a little different. Turnover is normally much less and those competitors undercutting have the advantage. In this market, where some items move more slowly, I’m more likely to undercut a competitor and even cancel an auction to re-list at a more competitive price. However, I’m not that crazy that I’ll undercut at any cost. In the end it’s about making a profit.

Does It Stack Up

I’ll often out-sell a competitor by varying the stack size of an item to make it more desirable or convenient for a potential buyer. When it comes to the listing of uncut gems in the JC market, I always list my items in stacks of three. This is because players participating in the JC daily need this number to complete the quest. I’ll always beat those players who list single items, even if my price is set slightly higher.

In the Pet Market, few players need more than one Mechanical Yeti, so I tend to list my mechanical pets as singles. I also tend to list just one or two items at a time because I know I’m likely to get undercut and will have to cancel my trade.

More Time Cost Money, Friend

It cost gold to list an item on the Auction House and the price rises in line with duration. In the JC market I save quite a bit of gold by listing frequently traded items for a duration of 12hrs rather than 48hrs.

In the Pet market where competition for Mechanical Yeti’s on my server is high, I’ll also list for a duration of 12hrs; however, for those items like the Mechanical Toad where there is less competition but less demand, I’m more inclined to list for the for 48hr duration.

In Summary

The Auction House has many markets that you can participate in. Try to operate in several markets, but don’t become too stretched. It can take time to get to know the subtleties of any given market. I always recommend players try to specialise in those markets associated with one of their primary professions.

Reduce competition in a market by looking for the niche markets within a market. Try to specialise and become your server expert, giving you a trading edge. The master in this technique is Cold of Cold’s Gold Factory who has written a lovely guide on the selling of Mysterious Fortune Cards, a niche market within the bigger and highly competitive Inscription market.

Finally, don’t leave gold on the table by continual undercutting. This is often the result of players blindly following the settings of their Auction House addon. Keep a careful eye on stack size and remember it cost you gold the longer you list an item.

Related Posts, Articles and Guides by Marcus Ty

WoW Auction House
The Marcus Ty Auction House Gold Secrets Guide


WoW Auction House Secrets – Trade Frequently

Auction House SecretsIf I had to name one of my top five gold secrets it would be: ‘Trade a little every day – or at least every playing session’. For most new players struggling to make wow gold, a reluctance to trade – even a little – is often the reason for their poor gold wealth in World of Warcraft.

If you are new to World of Warcraft then you must seek out the Auction House and learn to trade. The best way to do this is to use the Auction House every playing session. You’ll be surprised at what sells and how quickly.

But there are many distractions, both in the real world and in Warcraft. Time is the enemy.

And as the goblin say: ‘Time is money, Friend’.

In the real world it’s work, work, work. Many players scrape by on an hour of Warcraft here and there or maybe a little longer at the weekend. Then it’s off to the raid or a dungeon before bedtime, or simply hanging out in the Pig & Whistle with your mates.

Now I’m not saying that all of a players time should be spent in the Auction House; just the first fifteen minutes or so at the start of the playing session or at the end. Enough time to list some gear and to trade a little in preparation for the next session. Develop a routine of buying and selling.

Now, I may not trade every day, but I do have an established routine of buying and selling on the Auction House every playing session:

  1. Empty my mailbox – typically around 5-10k gold and expired auctions.
  2. Visit the Auction House and perform a scan of all goods to update pricing
  3. Cancel certain items that have been undercut and re-list them
  4. Snatch undervalued items and re-list them
  5. List items traded or crafted from previous sessions or stored in the bank

Your aim with your daily routine is to keep a supply of gold coming in to your mailbox, enough for your playing needs and for the occasional beer at Brewfest.

Cheers

Marcus Ty

WoW Auction House
The Marcus Ty Auction House Gold Guide

 

Gold Secrets of The Goblin Traders

Goblin Trader
Trade Like The Goblins

The Goblins are a strange – and some  say, deranged – race that have managed to co-exist with both Horde  and Alliance factions in many lands, relying on
both their trade and engineering skills to barter  an uneasy neutrality. As such,the major Goblin  towns of Gadgetzan, Booty Bay and Everlook  are perhaps the only locations in Azeroth where  both Horde and Alliance factions can  come  together and freely trade with one another – provided their weapons are sheathed.

These towns feature neutral auction houses  that, while not linked to either Alliance or  Horde establishments, enable trade items to  pass between opposing factions. This has  enabled some to establish a lucrative trade in  ‘pets’, with fluffy rabbits from Dun Morgh a  favorite among the Horde who prefer them  tenderized. All auctions are cunningly handled  by the neutral Goblins.

Now, no one trusts a Goblin, but all  admire their skill in barter and  trade. It’s wise to keep a firm hold  on your purse strings when  attempting to buy from these shady of wheeler-  dealers lest you walk away from the transaction  lighter in gold and without a shirt on your back.  But much can be learned from these slippery of  creatures when it comes to our own trading.

Here are five top Goblin trading tips:

1. Don’t be shy

The first lesson from the Goblin school of  trading is ‘don’t be shy’. You’ll often hear the Goblin traders hawk their wares by shouting to  all who walk within earshot. ‘Have I got a deal  for you’, is commonly heard up and down the  streets of Gadgetzan and the boardwalks of  Booty Bay. A brief stroll through the Goblin  streets of Everlook will have your ears ringing  with the cries of the Goblin Merchants.

We can use the Trade Channel is a similar way.  If we have just crafted a ‘Shining Silver Breastplate’ and posted it for auction, it helps  to tell the world about it. ‘Get your Shining Silver Breastplate, now in the AH – good price!’  You’ll be surprised how many whispers you’ll get asking ‘How much!’ As the Goblins say ‘if  you don’t tell, you don’t sell!’

2. Get the price right

Now the second Goblin lesson on trade was  said to have been stolen from the Gnomes: ‘Don’t sell yourself short’. Make sure you don’t  under price your goods. Always check the latest  prices by searching for the item in the Auction  House and price your item  accordingly. At the same time, look out for items that have been priced too low. You’ll often find new players pricing their items at very low or silly prices. Snap-up these items by placing a bid or buying them out. It’s worth a punt.

3. Avoid competition

The third Goblin lesson on trade was taken from the Elves who prefer to trade one-on-one. It can be summed up in the phrase: ‘A word in your ear’. The Elves often avoid the competition of the Auction process by announcing an item on the Trade Channel and asking folk to ‘whisper’ them if they have an interest. This technique needs some skill if you are to close the deal. Once a price is agreed, the trade is made using the Trade panel.

4. Seek out the lone traders

You’ll also find many a Goblin trader wandering around Azeroth. These lone traders often possess one-of-a-kind items that are much sought after in the Auction House and often sell far above the merchant’s price. An example is  Zixil (Merchant Supreme) of Booty Bay who can be found wandering the Hillsbrad Foothills between Southshore and the Tarren Mill. Also, Kzixx (Rare Goods) found in Duskwood, on the road to Darkshire.

5. Seasonal sensitivity

The Goblins have a saying: ‘Snow in the dale, its time for the Winter Veil’. They also say: ‘Don’t eat Dragonbreath Chilli on your first date’, but that’s another matter! The point being that the price of many goods sold at the Auction House will have a seasonal value. For example, the price of Small Eggs are much in demand at the time of Winter Veil to make the quest item of Gingerbread Cookies So, be you Horde or Alliance, there’s something to learn from the Goblin traders.

You might also like to check the article  on Goblin Trading Tips

Cheers

Marcus Ty

No Begging Outside The Auction House

I don’t know about you, but I’ve noticed an increasing number of wow players begging for gold – at least on the European servers that I play on.

It seems that there’s many a wow player running around Azeroth stony broke.  And I’m not sure why. After all, the way gold cycles through the Warcraft economy hasn’t changed since Azeroth was created. I put it down to a new influx of players in their early levels, and players new to the game often struggle to pay for a haircut, let along buy a basic mount.

Now, if you’re one of these players – please stop begging. It’s embarrassing!

No seriously, it’s not hard to make a little gold, and if you follow this blog or read any of my Warcraft Guides, you’ll know that you can make easy wow gold with virtually every visit to the Auction House.

But for players new to the game and who have little understanding of the Warcraft economy, making gold becomes as hit and miss as ‘Chug and Chuck’ at the Brewfest.

Too often new players read about this hack or that hack without ever developing a basic gold making strategy. These hacks then disappear with the coming of the next patch. Then there’s the facebook dude who supposedly knows of this mob or that mob with an amazing spawn rate. If you grind these mobs with a macro enhanced keyboard until your fingers bleed, you’ll collect enough loot to hock at auction for a few gold.

Now don’t get me wrong. We all need to grind in the early levels to obtain the basic mats we need to kick-start our gold making. In many ways it’s the only way to advance our reputation with those factions we’re interested in courting.

But, Friend, grinding is not the quickest way to make gold in the World of Warcraft, and frankly I find it boring.

Now, if you’re the type of player who likes to grind or gather their mats, then Friend, that’s fine. Gather or grind the mats you need for your profession and any surplus will always sell well on the Auction House.

But here’s a secret – the fastest was to make gold time after time, patch after patch, for any faction, race or class, is to learn to trade items on the Auction House.

I spend only 15 minutes a playing session trading on the Auction House to make my daily gold. Sure, if I’m going for broke I spend a little longer. But I trade the Goblin way and 15 minutes is all I need to keep my characters in gold.

So, how do you trade like a Goblin?

Read my article The 5 Goblin Principle of Auction House Trading to find out how!