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4/20/2011

Searching for New Gold Making Experiences - a Guest Post by Jokine


Today's guest post was written by Jokine who is our co-host for The Power Word: Gold Podcast . For the latest information from Jokine follow them on twitter at @Jokinee. 

We don't want to look opportunities behind us but rather look for new experiences. This is a very important thing and you want to take a look at your own gold making methods.

Change is Coming
Rule above works for the World of Warcraft and will become very essential after the next big change in the world of ore shufflers. (Or as we like to call it ''The way to obtain free gold trough JC and enchanting.'')

Thinking "inside the box" works on some level when you want to make gold without risk. If you think about markets like netherweave bags you will understand that something not so obvious can be very good passive income.

I've sold these bags around 750 in last 2 months, and made about 6k profit out of them. Now imagine selling things like soul dust which you obtained through other profession, resetting low level markets, transmuting titanium from saronite bars, transmuting arcanite bars, smelting cheap tin and copper bars to make bronze bars and selling them for profit. This will add up does it not?

Low Level 
Now you may think ''Prospecting my cheap ore which I have unlimited access is much faster and better profit.'' Have you ever thought that all these markets (plus a lot of other markets) require so little work. It is mostly afk crafting and checking prices with your shopping list that it takes your play time about  5 to 15 minutes per day (if you are not deep into them).

All of these markets have very little "real" competition. You will  be able to manipulate them on any level you want. These markets require little time every day. They don't require big invests and have near zero risk because of the fact that they are all low level stuff.

Working hard for the money.


What Worked Still Does
Cold (from Cold's Gold Factory) said wisely that ''things that used to work still work today'' so take a look at your professions once again. I've seen Mageshadow (from Just My Two Copper) talking about these low level markets just recently and props from that. It's good that you write about things that some people are not that familiar with.

The fact that there will not be this "free ore shuffle" gold means you will need to accept a lot of other (even smaller) markets gladly in to your open arms. You will need to do this to be able to gather even near the same amount of gold that you used to get every day with your JC + enchanting.

Profit is Profit
My advice how to find these markets is:

  • Check every profession which you have access to one by one. 
  • Check mat prices and how high the profit margin is. 
  • If the profit margin is good and you are happy with it (and there is even a low supply for these mats) try it out and make few items to start) See if they sell well (or sell at all). 
  • For US players, use The Undermine Journal (TUJ) to check how well the item you are about to make has had demand in the past. Decide if you are happy with it or not. 

Conclusion
The golden lesson is "If it's profit it's profit even with minimal demand". Here is an example: Think of things like 30 spell power on weapon which mostly have no supply. You know you are able to set price and (because of lack of people selling them) someone may buy it even it's overpriced. For me it was 200g to make and I sold it for 1000g.

I hope you see what I'm getting at. Niche markets make small markets. Small markets make big markets. Don't let the gold flow pass you. Grab it and keep your eyes open for new opportunities and experiences.

-Jokine

Talking Points:
  • What niche markets do you find profit in?
  • What "old" gold making tricks are still working well for you?
  • What are you doing to prepare for the end of the The Obsidium Shuffle?


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Posted by iiimjiiim on 4/20/2011 Labels: , , , , , , , , , ,

3 comments :

  1. AnonymousApr 21, 2011, 11:00:00 PM

    Jokinee,

    I've had some success by just picking 10 or so lower level herbs, making quick searches, buying cheap and selling at a normal price, often almost instantly flipping them. But it can be time-consuming to learn markets. Thanks for some fresh ideas and expanding the pool to other mats. I really enjoy your podcast, especially that you take the time you need to develop your ideas. Keep up the great work.

    ReplyDelete
  2. JokineApr 22, 2011, 6:41:00 AM

    @Valmonde

    thank you. Take multiple low level herb, ore, bar and cloth markets and check the prices everyday. You are not gonna post everything every day but if you check the value which they have at the time each day you log in. You are gonna make huge amounts of profit with it.

    ReplyDelete
  3. GrayzBDFApr 27, 2011, 10:06:00 AM

    This comment was written Thursday the 21st of May (last week). A solid post! Good ideas in here that i can return to from time to time when i get bored or lack new ideas. This is a blog post response (no joke! ^^). It means that you sparked some good thoughts, Jokinee!

    I'm having a break from the 'regular' game and grind except the AH, so all my online time is spent doing something gold related. I started using my enchanter very aggressively last week, using him to repost mats at higher costs and if they're cheap or few, i buy them out and reset the prices. I do similar stuff with Primals, Volatiles (started a few days ago, since prices started rising) and to a lesser extent with Eternals. Sometimes i'm too greedy with the pricing, but other times i've sold alot more than expected, so it's all good. Selling crafted JC rares also yields extra gold. They usually go for 180-280g with the odd 490g cause of another guy who sets that price and i sell 6-18 every week. Might be more.

    I wouldn't want to be a new player with the current inflation that exists to be honest. It's taken me 5 months to triple the gold i had Pre cata. Making gold is too easy now, so i'm contemplating raising my goal from 1 million to 3 or even 10, just to have a better challenge. Made 150k since last week when i shuffled the 18k ore i had. That's just too much gold, even for me. The ore has dried up and when they were cheap it was a 40:1 ratio of Elementium to Obsidium, but the profit margins were still good enough seeing how my net worth has increased. Whether the shuffle gets nerfed or not i'm pretty sure that making gold will be easy for the rest of this expansion. Bars can be sold for a nice profit so i'm doing that too and keeping track of the cobalt market has worked out nicely in the long run.

    My reaction to the supposed shuffle nerf has been diversifying alot more. I've started to get more active with glyphs again since i've had a ready made stock of all glyphs that i've been posting since mid LK. I'm seeing more sales there, since i undercut a few more times per day and i started posting them in ones which really is another time saver. I rarely craft any new ones, since i the glyph wars in LK were so intense, but i will this weekend since i milled alot of herbs that i had filled my guild banks with, in case i'd want 1 or 2 alchemists. Thinking about dropping Tailoring and going Alchemy on my main, but i've been holding it off cause i used to love making bags although i'm pretty sure that i never will max tailoring out simply cause i can't see any reasons to. If i need things crafted i'll just pay someone a fee, save the levelling costs and still make profit. I'll use this strategy for BS and LW as well (which are the profs i don't have), as i increase the number of markets i get into, depending on how the other markets are affected, post patch 4.1.

    Few people might be following you for now, Jokinee, but the ones that do appreciate it alot.

    Keep doing your thing and have fun!

    P.S. I really love the fact that FLux brought you in after your conversations on Skype. You both bring a vibe that i really dig.

    ReplyDelete

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