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Thread: A newbie diary

  1. #1
    Ludde's Avatar
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    A newbie diary

    Hi everyone!

    I have been lurking these forums for a couple of days now and figured that it was time to post. And why not do it in the form of an auction diary. If anything, it should be fun to read in a couple of months from now (hopefully I am still working the auction house by then).

    Some background on me:
    I actually started playing wow 2 months ago when my brother talked me into it. Well, I wasn't that hard to convince really, he kinda mentioned that I should start playing and I did. Anyway, I became aware of gold making strategies when I was about to hit 70 and realized that the master riding skill would cost 5000g. How the [insert foul language here] will I be able to scrap together 5000g? At this time my auction house activities consisted of selling gathered material. And always undercutting to the lowest price. And it really didn't matter what the lowest price was, as long as it was sold. So, I started to google. And found A LOT of information. And I can tell you, it's not easy to sort out the good information from the bad. Especially when you have only played the game for a month or so. Eventually, I think I managed to sort out some of the better auction house guides. And I have actually made some money buying stacks of volatiles and selling as singles (even though the prices of volatiles is freakishly low on my sever) and flipping some of the more common items. I also installed some of the ah-addons (TSM, auctioneer, auctionator, market watcher, postal). I am also planning to pick up one of the bag-addons I saw in another thread, which I can't remember the name of.

    I found this site a couple of days ago (or rather, I found the snatch list, which seems to be amazing btw, ty! ). I have already picked up a few items from the list and will tell you later for how much and what I am trying to sell them for. Just wanted to make a presentation first.

    See you around!

    'The ships hung in the air in much the same way bricks don't'.

    Ludde

  2. #2
    Ludde's Avatar
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    Ok, so my first fooray into the rare items market was yesterday. I added all the items from the very much appreciated snatch list (ty calianna!) and the equally appreciated supplemental snatch list to my TSM dealfinding list. I put the maximum price to 500k, so that if there were any items on the list for sale, I would see them. Not necessarily to buy them, but to see what they were listed for even if it wasn't a good deal. I actually ended up buying 3 items on my first scan and 3 more later that evening. They were:

    222g 22s 22c

    In my database this item hasn't showed up once before (I only have 1 month of scans, though). The Undermine Journal also show a Horde mean price for about 2200g (I am in EU, so can't check my own server). I figured it was a good deal. I reposted it for 2500g. I really didn't know if I was way of base here, but figured what the hell, I only lose a couple of silver if I don't sell it and can always adjust down later.

    25g

    I realize just now that I didn't take a look at The Undermine Journal for this item. I see now that they have a horde mean price of almost 1300g. I posted it at 200g and it got sold not more than 30 minutes ago. Well, you live and learn.

    222g 22s 22c

    Yes, the exact same price as I bought . Weird. Same seller perhaps. Never looked. Same as before, I went with The Undermine Journal and posted it at 1000g.

    299g 98s

    I got very excited about this since I have read that this is the favourite enchant for twinks and they apparently have lots of gold. So, I decided to ignore The Undermine Journal and posted it at twice the Horde mean price, 5000g. I was brought back down when I realized that this is no longer the favourite enchant for twinks, it is nowadays some intellect-thingy that I really need to get my hands on. Well, well, I haven't canceled the auction, maybe someone really wants the enchant or maybe misclick or misread the price or...

    50g

    Haven't seen a single one on my server for a month (my earliest scan). The Undermine Journal gives a mean price of almost 1800g. I posted at 2000g and we'll see what happens.

    200g 99s 99c

    I kinda like this item, I've always wanted a monocle, but it seems like it's only really, really, old dudes that have them nowadays (like 200 years old). So I put it up for 1400g. TUJ have them at about 2000g, don't know why I didn't try to sell them at that.

    That's for today. Stay tuned!

    'The trouble with having an open mind, of course, is that people will insist on coming along and trying to put things in it.'

    Ludde

  3. #3
    Nice! Let us know how your results are! Dont be impatient with your prices. I caught enchant chest greater stats for 40g ..took a bit to get my 10k from it..but i did. Good luck.

  4. #4
    Davison's Avatar
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    Quote Originally Posted by Ludde View Post
    25g

    I realize just now that I didn't take a look at The Undermine Journal for this item. I see now that they have a horde mean price of almost 1300g. I posted it at 200g and it got sold not more than 30 minutes ago. Well, you live and learn.
    800% ROI aint to bad tbh :-p
    Seeing you just started playing for a month and still saving up for 5K gold to spend on your flying skill i'm going to do a rough geuss that you have about 4K liquid at this point. (please correct me if i'm wrong)
    Flipping rare recipes is a very slow moving market, i have recipes on the AH that haven't sold for months, but i know i just need to be patient untill some completionist comes by and buys it and get at least 1000x back what i invested.
    But a quick calculation tells me that you have about 25% of your liquid assets invested in rare recipes (again from my estimation you have 4K liquid), by all means snatch up those rare recipes posted for only a few gold, they will one day reward you for it, but spending 200g+ on recipes that might need a whole lot of time to move them while you're in the very early stages of your gold making carreer might not be so smart.

    From a personal view i think it would be better to invest that money into your current professions so you can actually start selling stuff that has a use in current content (fe: crafted pvp gear/gems/MFC/...) Those things will definatly move allot faster then rare recipes, maybe with allot less ROI, but slowly adding to your goldpile.

    Just my two c though, i might be totally off with my estimation ofr your liquid gold :-)
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  5. #5
    Ludde's Avatar
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    Actually, your estimation of my liquid gold is spot on. I have about twice that held up in different items that I expect to sell rather quickly (not counting the recipes that I bought the last couple of days). And you are right about me tying up too much in these recipes. In my defense, I severely underestimated how fast I could move them. I figured a couple of weeks at the most, that it could take months was never considered.

    I did buy two more yesterday, before I saw your reply. The other ones haven't sold yet.

    Another 50g

    I will try to put it up for more this time and we'll see how it goes. Patience is a virtue will be my new motto (although I am a highly impatient person, doesn't really go well together with this market, does it?)

    500g

    TUJ has it at 2500g Horde mean. I haven't put these up yet, figured I'd wait until tonight when the new patch was released, my server has been very slow the last couple of days.

    Regarding professions, Davison. I will look into it. I have gathering professions right now on my characters, since it is kind of expensive to level up a crafting profession. But perhaps it is worth it to invest. I will look into it.

    And by the way, it is no longer about saving up to the Master traning license. It may have started out that way, but now the sky is the limit.

    Thanks for the comments!

    'He hoped and prayed that there wasn't an afterlife. Then he realized there was a contradiction involved here and merely hoped that there wasn't an afterlife.'

    Ludde

  6. #6
    Davison's Avatar
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    What is your characters class btw, having gathering professions while levelling is a very smart move, you can either sell what you herb/mine/skin or stock it up to use it when you want to lvl a crafting professions...
    Once you reach max lvl you should definatly look into one of the crafting professions and maybe go back to the lower level zones to get the mats to support it.

    I tend to take professions that go nice with the class, my DK has BS/JC, lock has Ench/herb and the 76 druid is a max inscr/herber.
    I wouldn't mind helping you a bit in choosing the right profession, as i feel that in the early stages of yur goldpile its one of the most important source of income you'll have,
    and that very first profession will make you able to expand and diversify yourself into the AH either with more professions or flipping..
    If your only goal is to become rich, you will never achieve it.
    John D. Rockefeller

    If you're looking for help, try using the search function of the website first before making a new topic.
    If you would like to receive personalized help catered around your business, you might want to consider becoming an Ethereal Contributor

  7. #7
    Ludde's Avatar
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    Is it just me or did two posts disappear? Anyway, as per recommended Davison, I have started leveling up Leatherworking on my hunter. It is crazy expensive, though, so it is a long term investment. Especially since i can't get a hold of any chaos orbs and make the most expensive items. Looking forward to make an honest wage, though, with something I have made myself

    I have also had a couple of very lucrative days, selling quite a lot of mainly , but also other items and have actually doubled my liquid gold to around 8000g. My rare recipes are yet to be sold, though, and I have resisted the temptation of buying more, even if I have found a couple of good deals .

    has also been a bigger seller these couple of days. I stockpiled a few of them before the patch and it seems the prize has now stabilized a couple of gold higher than before the release (14-15g before release, 17-18g now). I'm still waiting for (consistently sells for 1g), (slightly less than 2g) and (around 6g) to increase though, but that doesn't seem to happen anytime soon. Ah well, there seems to be some interesting recipes that require volatiles that I should be able to sell, so I'll probably get by

    Until next time!

    'Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. '

    Ludde

  8. #8
    Sinshroud's Avatar
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    Yeah Ludde unfortunately our site host did a bit of a screw up on Sunday night and we lost a little bit of data. Sterling made a post on the homepage about it. Sorry if you lost anything important.
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  9. #9
    Kathroman's Avatar
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    We lost data, according to Sterling's post, that is where your posts went. It's not just you .

    Regarding Leatherworking, it isn't a very common profession, especially since they added the bracer enchants a few patches ago. This means that while it IS more expensive to buy mats, it also discourages competition. I, personally have found it to be quite profitable.
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  10. #10
    Ludde's Avatar
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    I figured it was something like that. And no, I didn't lose anything important. Davison gave me some good advice, but I think I remember it

    And that sounds good Kathroman, I hadn't thought about it. Now I just have to find some thick leather for leveling up. NO ONE is farming thick leather on my server. If this keeps up, I might have to do it myself. Or find an alternate leveling route

    'Early to rise, early to bed, makes a man healthy, wealthy and dead.'

    Ludde