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Saturday, November 26, 2005
An investment opportunity
I'm a sucker for get-rich-quick schemes, usually devised by myself. Fortunately that is limited to virtual worlds with virtual money, so you Nigerian dictators can stop sending me spam about partnerships to get millions of dollars out of the country. In real life I invest sensible, in bonds and index fonds. But in the World of Warcraft I just spent 150 gold on a recipe of Transmute Undeath to Water, more than half of my wealth.
The idea is simple. I already made good money with my Transmute Water to Air recipe, which transmute Essence of Water into Essence of Air. I used to be able to buy Essence of Water for less than 7 gold, and sell the Essence of Air for twice that. But recently the price of Essence of Water has gone up to 11 to 12 gold. And the patch note for v1.9 say that the drop rate for Essence of Air will increase, further eroding that profit margin.
I tried farming the Essence of Water, because Thottbot said it had a 7% drop rate from Toxic Horrors in Felwood. Unfortunately that is not true, because it seems that Thottbot is only counting the cases which have *any* loot. With more than half of the Toxic Horrors not dropping anything, you need to kill about 30 of them to find an Essence of Water. And as lots of other people are farming that place, landing the first hit on 30 of the Toxic Horrors takes quite some time. Furthermore farming the same mob over and over gets boring pretty quickly, and of course I'd prefer to get rich without work.
So now I'm buying Essence of Undeath for up to 3 gold, and transmute them into Essence of Water. If the Essence of Water price is high, I sell them. If it is low, I can still transmute further into Essence of Air, hoping that the prices of that will remain high. And the beauty of it is that while I can only do it once per day, the whole transmuting, putting on auction, and getting the money from the mailbox just takes 5 minutes. And with the undeath transmutation recipe being so rare, I don't have much competition.
- posted by Tobold @ 3:37 PM Permanent Link
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Controlling the market is key. I have the items I watch and I will buyout and low sellers and undercutters. Then I will repost at my price.
I usually can bully out the undercutters because they are usually aren't dedicated AH watchers. They got some cash and thats all they cared about.
My keys to AH riches while still playing the game are as follows...
1. Pick your poison and stick with it. Don't switch back and forth between multiple items unless you really want to waste hours in the AH. If you are a disenchanter... stick with it. If you are a miner... stick with it.
2. Own the market every login. Take the few minutes to buyout every undercutter. This is tough at first because you probably will take losses on some purchases, but you are ensuring your future market.
Don't be afraid the mail people if they constantly undercut you. Don't be mad at them! Explain to them that you would like to purchase at a set price and see if they will stop using the AH. It is MORE profitable for them to sell lower to you because they are NOT losing money on AH fees.
3. Don't flood the market. You have bank space... SO USE IT! If you find the market empty and a demand for your goods you will have the "stock" in the bank to fill up the market... and usually you can charge a bit extra.
30 minutes a day can make you 100 gold a week easily and I've proven it time and again. Just the question of what to buy/sell :)
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I usually can bully out the undercutters because they are usually aren't dedicated AH watchers. They got some cash and thats all they cared about.
My keys to AH riches while still playing the game are as follows...
1. Pick your poison and stick with it. Don't switch back and forth between multiple items unless you really want to waste hours in the AH. If you are a disenchanter... stick with it. If you are a miner... stick with it.
2. Own the market every login. Take the few minutes to buyout every undercutter. This is tough at first because you probably will take losses on some purchases, but you are ensuring your future market.
Don't be afraid the mail people if they constantly undercut you. Don't be mad at them! Explain to them that you would like to purchase at a set price and see if they will stop using the AH. It is MORE profitable for them to sell lower to you because they are NOT losing money on AH fees.
3. Don't flood the market. You have bank space... SO USE IT! If you find the market empty and a demand for your goods you will have the "stock" in the bank to fill up the market... and usually you can charge a bit extra.
30 minutes a day can make you 100 gold a week easily and I've proven it time and again. Just the question of what to buy/sell :)
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