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  1. #1

    Finding a new market.

    Hello all, first time poster here but have been reading these forums for awhile now, and the tips, threads, and guides here have helped me more then anything else has in my goldmakeing efforts.

    So anyway here is my problem. I have been trying to get out of the gem market for about a week now, but being as it is roughly 70% of my income, it's a little hard. What I have been doing is, buying ore, prospecting, selling most of the rare's raw, cutting a few here and there, while sending the uncommons off to be transmuted to meta's or ceartin high demand gems, (Inferno ruby, Demonseye, Ember topaz). Any one's I had left over I either made into necks/rings/fist weps. and had them de'd and sold the mats, or made them into scrolls and sold them. Then I would make about two big postings a day, in the AM, then just before I went to bed. This worked fine till about a week ago.

    Now, I have gone from making 1.5-2k a day in profit, to if I am lucky 200g a day profit. I couldnt even begin to keep up with the undercutting and price dropping that had started on my server, (high pop). I finally stopped with my operations and decided to get rid of my stock and start up another market(s). The problem is, every single market I have tested has been roughly the same. I have not been able to make over a couple hundred gold a day.

    So, my question is, am I just bad at getting into these new markets? Or is this something I am going to have to compete with if I want to stay in the auction house? Or am I just going about everything the wrong way?

    Sorry for the long post.

    Thank you again,
    Detko
    Last edited by Detko; February 22nd, 2011 at 07:40 PM.

  2. #2
    Valdron's Avatar
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    Would you be able to tell us which professions you have?

  3. #3
    The same is definitely going on on my server, too, and it's nothing to panic about: the revenues will rise and fall, and it seems to me that we are just experiencing a rebounce from the earlier market high. Things will normalize and now it seems to me is the perfect time to prune your routines and tweak your profits.

    It always pays to spread the risk and work in several markets at once. If you are already connecting JC with Enchanting, you're half way there: just see what other profession might help in this sense.

    If you're looking for the easy and fast cash out, I can't help. But if you're in the business with a longer term interest, I can say this one thing.

    Persistence pays.

  4. #4
    avlox's Avatar
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    another thing to be careful of when your market jumping like you are.. is that unless its a market thats empty... whoever is in that market.. will fend you off.. and make sure your profits are nil, so you dont stay.. honestly, you really have to pick one.. suck up the profits for a few days/weeks.. and claim it as your own..
    http://avlox.com/ - My WoW blog, AH/Economy related.

  5. #5
    Belzebutinov's Avatar
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    What I'd do:

    1/ Either grind enchanting on an alt, either recruit an enchanter friend, but either way, you can make some very decent money by doing the DE part of the ore shuffle

    2/ Easy flips: very server-dependent, but shattering, flipping, etc., can make some interesting sources of revenue (I've made tens of thousands of gold on the abyss crystal shattering plot myself)

    3/ Leatherworking flips: there are a few things you can do here, some of them without even having a LW toon:
    - scraps to leather: it takes 5 to make one . Scraps at 50s and leathers at 5g? Profiiiit! (requires 425 LW)

    - leathers to heavy leather: 5 to a ; personally, I just bought 200 stacks of savage leather at 1.5g per, and heavy savage leather is close to 25g per. If that's not profit, I don't know what is! (requires 425 LW too, I believe)

    - heavy to hides: 10 to a (requires one 84 toon with Twilight Highlands access, does NOT need to be LW)

    You can naturally make multiple flips with this, such as leathers to hides, or whichever is most profitable.



    One last, general tip: before invading a new market, take a few days to check prices out, quantities out, and get a general feel of it. Once you feel you're starting to know it, go!
    Don't forget to hand out reputation to people whose posts enlightened you!

  6. #6
    Life's Avatar
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    For me, diversity is the key. People drift in and out of markets all the time, depending on what toon they are playing, what craft they are levelling, what they think is good for gold at the time. My methods to deal with undercut wars tend to be either bomb them out with pricing such that they convince themselves there is no gold in that particular market for them, or just to sit out for a few days while their stock disappears at low margins, and drop back in when the price improves. There are alternative ways, but these work for me and my gaming / posting schedules. Diversity is the key for me as when one market closes for a few days, I simply increase presence in other areas to retain the required level of income.

    I guess I am saying be in all the markets that you want to be in, rather than focus specifically on a key market. Remember that you are not just locked into your professions markets, some items sell constantly and you can get friends / guildies / trade partner to make stock for you, you might pick and choose when to release this stock to market, but with no stock you don't sell anytime.
    Remember, he who laughs last.....doesn't understand the joke.

    Life

  7. #7
    Kathroman's Avatar
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    My advice to you for entering a new market would be: don't make it look like it is a new market for you. I'll explain. What you need to do to compete is show people you mean business. Avlox is right, people will try and keep you out of their markets, especially if you seem to just be testing the waters. You need to make it look like you've been doing this forever - they might not like that they have new competition, but they will certainly have more respect for you and likely back off a bit if they know you are serious about being there. I know I would feel better about giving up some of my profit to a seasoned pro than a casual FOTM'er.

    So, basically, what you should do is choose a market, do your research, go in with a plan, and plan on staying. It will pay off for you if you want it to.
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  8. #8
    Der's Avatar
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    @OP:

    I think many of us are in the same boat, which is why people tend to recommend having multiple professions and dip in multiple markets. I would say take what you have learned in the JC market and apply it to another market that interests you. Do some research on TUJ and watch that market for a few days before jumping in.

    Personally the JC/enchant scroll undercutting war really burnt me out, so I am checking out tailoring and the pet market now to see profit viability. High population server/faction tend to indicate bigger markets, but also more potential competition.

  9. #9
    Enchanting is usually the first port of call when you have JC as combining them usually makes each stronger than having them alone and may revivie your ability to make gold with your JCing as you may be able to get more from each stack of ore than you currently are.

    Past the obvious choice i would look at professions you already have and how you can convert your knowledge of making gold with JC into making gold with them. Ideally you should have multiple options open to you at all times as all markets have good and bad times and the more options you have the more likely you are to be able to always deal in a good market rather than being stuck when a market is in a slump.

    If you don't already have some extra professions i would look at what other markets there are and what you can make out of them, then invest some of your gold in some profession power leveling.


    So, my question is, am I just bad at getting into these new markets? Or is this something I am going to have to compete with if I want to stay in the auction house? Or am I just going about everything the wrong way?
    Unless your really lucky this will become increasingly the norm in almost every market. The good times are over as more people are leveling up alts and stepping into markets they previously didn't have acess too. Again this is where expansion in general is the key as you make up for quality by using quantity. If you can mass produce and mass sell you can make large profits still

  10. #10
    Wow, thank you all for the advice! As I am currently working I havent had time to do a whole lot of research today. I'll edit this post a little more when I get home from work, but I justed wanted to say thank you again for all the help.

 

 

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