What is your definition of a good gold maker? How do you measure gold making success?
During the last show of the Journal of Marcus Ty Podcast, I was asked the question ‘What makes a good gold maker’? I thought about about this for a while and considered, well, what makes a bad gold maker? In this post I’ll give you my thoughts on the good the bad and the ugly aspects of gold making as I see them in today’s markets of World of Warcraft.
I set out to learn how to make gold back in the days of Vanilla WoW. In those days, the virtual market place in Warcraft was a relatively relaxed place to hang out in. No one was hung up on getting gold capped and idea that you could amass one Million gold was considered foolish.
In those early days of WoW I jumped in and out of the Auction House and traded just enough to make the gold I needed for my daily adventures in Azeroth. Like most players today, I considered time the real enemy and I judged my gold making a success if I could complete my trades within 15-20 minutes and collect my gold from successful auctions at the end of the process. I would then use the rest of my game-time to quest and generally explore the rest of Azeroth. Over the years I’ve exploited the Auction House so well that I’ve amassed many millions of gold over several alts and the Blizzard Gold Cap of 999,999.99.99g seems artificially too low.
If I roll the clock forward to today, the Auction House today is a very different place to what it was in vanilla WoW. The processes are still the same, but the competition is much fiercer. Many more players are savvy to the goblin ways of trading (I like to think I had a hand in that) and once lucrative markets have come and gone. I still make most of my gold from trading on the Auction House and time is still the enemy. I spend a little more time these days exploring new Auction House markets and gold making techniques – not because I need the gold – because I love writing about these techniques and helping others get to their first Million gold in Warcraft.
So my definition of a ‘good’ gold maker is one that can efficiently exploit a wide variety of changing markets to maximize a profit from the time and gold capital invested.
Time is an important factor here. Many players still resort to buying gold because they are time poor, so gold making techniques that rely on a player camping out on the Auction House 24×7 continually listing and cancelling their trades doesn’t really cut it. Players that don’t factor time into their techniques aren’t ‘good’ gold makers. They’re not efficient.
Making a profit here is important. It doesn’t matter how much gold you receive in your mailbox if you’ve spent more gold crafting and listing your items in the first place. Using just revenue as a measure of success is poor gold making.
A good gold maker knows that markets come and go. Things never stay the same – not in the real world and not in Warcraft. The Auction House changes after every patch and good gold makers adapt to changing markets. They know and sell what’s in demand.
Finally, it helps to remember why we play World of Warcraft in the first place. For me its always been about hanging out with my mates and having fun. The same for making gold. Once it starts to become a second job, it’ll be time to stable my mounts and hang up my armor.