In my first post I wrote how helping a guildie move some characters it sparked my imagination to earn some gold today I’m going to write about the basic ideas and tips he gave me.
Farming your materials doesn’t mean their free.
Lots of small sales soon make a lot of profit.
The time and length you post items for are important.
Know your market and its cycles and prices.
Now let’s think about those statements for moment. Too experienced auctioneers these will all be common knowledge and basic principals but to a player who has never used crafting profession to make wealth in game they are bold statements.
Farming isn’t free
This is way I had it explained to me. If player A and player B want to make for example Dagger of destruction and in takes 20 of Bar X and 10 of Bar Y and sells for 500g
Player A goes and farms the materials and it takes him 1 hour to get them all and craft it and list it.
Player B goes to the AH and buys the materials for 350g this takes 5 mins to buy, craft, and list it.
Player B will make 150g profit from the sale from 5 minutes work, and has 55 minutes to concentrate his efforts on more gold making activities.
Essentially Player B could do this same action 12 times in the time it takes Player A to make one item making 150g profit 12 time equals 1800g while Player A has only made 500g from one sale.
Small sales lead to big Profit
Not all items you can craft have a big profit margin for them. Common items you will sell a lot of but not always with big margin would be flasks, gems, belt buckles etc.
Let’s take the belt buckle as our example, and call it belt buckle of damage. This buckle takes 4 of Bar X and 1 of Bar Y to craft. These materials cost 45g to buy but the finished product sells for 60g and will on average sell 15 to 20 times a day.
Although you are only making 15g on each belt buckle by selling lots of them the profit will soon stack up so selling 10 is 150g. Small profit items like this help you keep money coming in and usable.
Time and length of your posts matter
Every item you post on the AH has a deposit cost, this varies by the length at which you post them for. The three lengths you can use are 12hrs, 24hrs, and 48hrs and the greater the length of time you post an item for the bigger the cost to post it.
If we take our Belt Buckle as a example because we know they sell fast, we would post them at the lowest possible time which is 12hrs. There fore less fee’s are eating in to our profits. This topic really deserves it own post to discuss thoroughly as there are lots of variable to be accounted for.
Know your market and its cycles
This great game we play World of Warcraft has many facets to it and so gives players lots of choice in what to do. Understanding those cycles can greatly increase the profit you can make from selling items.
Broadly speaking more people play at the weekend as they have more free time and less things to do. So what does this mean ? More people around means two things first more supply of items so secondly theirs more competition for what you want to sell. Generally items you sell at the weekend will sell for lower than during the week. So therefore as theirs more people and materials around the weekend is generally a good time to pick up the materials you need to craft your items as they’ll be cheaper.
Other cycles to watch for are PVP seasons, Raiding before and after sales, and New Patches. We’ll take a quick look at Raid nights. If you know the major raid nights for your server you want to sell items that enhance a players performance before the raid starts. These items include Flasks, Foods, Potions, and other Temporary buffs. So these would be listed in the 2 hour space before most raids start.
Then the next set of items you want to list would be for gear enhancements that a raider needs after they have finished and won some loots or got enough Justice/Valor points to get a new piece of gear. These would be the likes of Belt Buckles, Leg patches, Gems, and Enchants.
Well I think that’s all for now I would like to expand upon a few points at a later point.