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  1. #1
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    Wanderingwelsh's Avatar
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    Newbie Gold Goblin Looking For Advice

    Wasn't really sure how to go about wording my first post...so I decided I would just come out and say what was on my mind.


    Bear with me folks this is gonna be a journey to say the least....




    So there I was, reading away, absorbing all the gold making blogs and threads I could get my hands on and then it hit me... Why just read about it when I could just go and try it myself.


    (I'd had luck on my original realm but I wanted a change.)


    Anyway...


    Giddy with excitement I rolled onto a new server, made myself 2 toons and started the whole "research" process again (Auctioneer scans and what not)
    Between collecting my data... for the first day or so atleast I started gathering (Copper, Peacebloom. etc) obviously I needed some capital to kick start my AH carreer.


    ((1 Week later))


    Once all my items sold and I had netted a tidy sum off 200G. I then decided seing as certain gems were priced lower than thier "Cut Counterparts" they were a good place to start so I bought up 2 gems and had a higher level JC cut them for me. The gems sold almost instantly. But this is where my quest for advice really begins.


    I have the required addons and also utalize The Undermine Journal to make my trades. But the whole JC Flip technique is as far as I know what to do, this is foundation ecconomics (Buy Low Sell Average) what I really want to be able to do is pinpoint oppertunities in the market for example:


    "Person A will never buy a single scrap of Embersilk Cloth in his life, preferring the convenience of premade bolts; person B will never even bother to check the price of a Bolt of Embersilk Cloth because he assumes it will always be cheaper to buy the individual pieces."


    Extract taken from: http://wow.joystiq.com/2011/10/10/go...ion/#continued


    Now I know that Person A & B are potential customers if a trader can spot an oppertunity such as the above example. I also know that gold makers don't just give out thier stradegies to anyone, nor am I asking for a handout. What I am looking for is advice on finding niches in the market such as this.


    Currently I have around 150G and my main is a level 20 Alchemist/ Enchanter. (Both Professions are maxed as far as being a level 20 toon goes.)


    Any help is appreciated and thanks for reading my novel


    Sincearly Wandering Welshman.

  2. #2
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    jimmyolsenblues's Avatar
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    Doing a search for "Newbie" turns up the following threads:

    http://stormspire.net/search.php?searchid=956786

  3. #3
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    Why are you collecting gold?
    I only ask because i wonder why you dont you level your character, then worry about gold. Leveling 1-90 should net you about (10k?) gold. At max level you have many options to make getting your nest egg much easier?
    Also in your example about person a and b, neither of them is your customer, at least not for a majority of your sales.
    Selling a cloth or a bolt is selling a raw good at less of a profit. There is only so much volume you can do in selling raw goods. Most people want finished products. The only people who buy raw goods are those who either are using them to make gold themselves (money you're leaving on the table) or those that want to save a couple gold and have a guildy craft at mat cost.
    The other thing you have to keep in mind is time cost. I know of hundreds of ways i can make gold all the time, but i only have so much bag space and time. You have to ask yourself whats the best use of your time to make gold.
    Last edited by neo6488; December 20th, 2012 at 06:16 PM.

  4. #4
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    cheers jimmy, your link didn't work by the way so I did a "newbie" search and started reading up on a couple of things. :P

    Secondly... cheers for the speedy response neo, it's not so much that I am worried about gold it's just that I enjoy the AH, I'd rather do 3 - 5 levels and then spend my time trying to find deals on the market. I know I'm restricting myself by being a low level character but that's not to say it's impossible either...

    Anyway I appreciate you both taking time to help thanks again :P

    Sincerely Wandering Welshman

 

 

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