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  1. #1

    Think like a Millionaire onyour way to Gold Cap.

    This was originally posted in the Wind Trader's Stormspire on the 27th September. Moving it into the public forums for greater benefit and just an interesting/insightful read. - Sinshroud.

    Hello all.

    I'm a millionaire. In Wow anyhow.

    I wasn't always rich. In fact, back in January 2009, I had maybe 2000g spread over all my characters in total. I hit goldcap in June 2009 and eventually hit 1 million in Dec 2009.

    I didn't do anything really radical to get there, I just did a lot of what works and tried to keep a tight rein on my expenditures while climbing up the ladder. I'd set achievable target goals and reward myself with vanity items when I hit those goals. (Yes, its important to reward yourself along the way...it makes hitting the next target easier. Just don't be greedy about it.)

    For instance, with all the neato addons now available, making and reposting glyphs is commonplace. However, before those addons came along, I was crafting them manually, relying only on Altoholic and Auctioneer. (Yes and I walked barefoot 2 miles in the snow back and forth between the Bank and the AH, uphill both ways.)

    Now the reason I mention all this is that the millionaires I know view major game-altering events slightly differently than those without a million.

    First off, almost every major change is an opportunity....even a declining market can bring you profits if you read your patch notes and look for ways to bulk up and protect your goldpile.

    Quick question.....What's the most important thing to work on prior to 4.0/Cata that will result in a stable gold making machine far into Cataclysm?

    It's not the amount of gold you have (more is always better of course but inflation might eat away at its long term value.) With the 4.0 raising of the goldcap from 214k to just under a million, expect to see things in the ah that sell for more than the current limit.

    It's not the amount of old world mats you have (although many will fluctuate wildly for months and may or may not eventually be profitable.)

    It's not the amount of crafted goods you prepare in advance (although, like mats, they too may see either increases or decreases in popularity, what with all the baby Worgoblins running around levelling.)

    The investment that reaps the highest rewards is investing in yourself. And by that I mean the quantity and quality of your alts with maximum levels and maximum professions with as many special patterns as possible.

    I'm known for using the the gold-making engine analogy. Every character you level to 65 (75 in the new world order) is a piston in your engine. The more you have, the higher your potential to adapt, survive and thrive under any circumstances. Each character represents two more profession slots. Not all professions are equally profitable at all times, so its nice to be able to have the flexibiltiy to capitalize on a trend. And when you find a profession with valuable cooldown abilities don't limit yourself to having only one. For example, if gem transmutes are profitable, why only have one alchemist?

    Try not to fall into the trap of treating all your maxed characters as mains. They don't all need cutting edge ICC BoE's and Traveller's Mammoths. (Some will never see the outside of a major city for months.) Herbalists and miners should probably be levelled up to 80-85 with epic flight so they can reap the higher rewards in competitive areas. Your real main should have at least one crafting skill that can benefit should Blizz choose to drop BoP recipes in top-level raids like they did with ICC.

    In summary, if you have lower level alts, level them. If you haven't already done so, make a Death Knight and take advantage of the 55 free levels. Throw two gathering professions on it until you get him up to at least 75. (Levelling crafting skills costs you money, levelling gathering skills MAKES you money.)
    Last edited by Sterling; October 2nd, 2014 at 06:59 AM.
    Author of "T'was the Night Before Glyphmas" Yes...~I~ came up with the name "Glyphmas".
    http://stormspire.net/off-topic/1876...tml#post165195

    2k-02/2009 Goldcap-06/2009 1000k-Dec 22, 2009

  2. #2
    Drrwho's Avatar
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    I have to agree with you on that. People that think it's too hard to make gold in the game typically have a problem making gold in the game. It's not because it's hard either... it's because they don't believe they can. They don't look for ways to make extra gold. They only want the fast, big gold makers and miss out on all the small to medium gold makers, which in the end are really what get you more gold and in a quicker amount of time.

    I watch trade chat, scour the AH (well, my addons do), and see what the hot sellers are and where the bargains are. I don't catch all trends, but I catch the ones I can and capitalize as time allows.

    The only thing keeping me from hitting gold cap much of the time is that I like to spend gold too. But not on useless stuff, at least not to me. I prefer to use my gold to make the game more fun. I enjoy a good hobby in RL, and pursue the same in WoW. So I spend some gold to do so. I'm a bug mount collector, and have spent some decent gold on mounts, including buying mounts off other people when they've dropped (the rare ones, that is). My goal in making gold is to have enough gold for buying another rare mount. Getting to gold cap would be great, yes, but I don't mind it that I don't hit it that often either. I run GDKP runs and spend gold there too. Again, I could get gear other ways and not spend the gold to do it, but I've always viewed gold as something that is meant to be spent, not horded and rarely spent. (I don't view money in RL this way, not totally at least... I do save money alot more and spend more efficiently, since I do have a family to take care of.)

    Don't get me wrong... I'm not saying hording and rarely spending gold is a bad thing at all. It's totally up to each person's preference and I would never look down on someone that does things different than me. I always value good insight, input, thoughts, ideas, etc. from anyone, no matter what their play style is.

    I've already learned some great new ways to make some extra coin from this forum, over the course of less than a week. And I'm always looking for more ways.

    As a side note, I fully expect gold-making in Cata to be incredible. There will still be those people that complain that it's still hard to make gold. But, I fully expect gold to be flowing like never before. And I can't wait to spend it on more mounts for my collection

  3. #3
    Quick question.....What's the most important thing to work on prior to 4.0/Cata that will result in a stable gold making machine far into Cataclysm?

    It's not the amount of gold you have (more is always better of course but inflation might eat away at its long term value.) With the 4.0 raising of the goldcap from 214k to just under a million, expect to see things in the ah that sell for more than the current limit.
    Do you have a source for the gold cap change? It is not that I do not believe you as I was able to google and find the blue post that said it was a definite possibility as well as Cata beta reports of it being higher. I would just like to see an official post.

    This is somewhat deflating to me to be honest since I had a goal of capping a single account on 1 realm ~2.14M. Obviously I know you can theoretically not be truly capped with guild banks, but it was something I had in mind and was fun to aim for. Right now, I have 1.3M of liquid gold and probably 200-300k worth of Cataclysm investments.

    And yes, having access to as many professions as possible is ideal as it will allow you to be diversified. Investing in WoW is no different than the real world. I am one of the world's biggest advocates of not having gathering professions, yet I am leveling hunter currently (44) that is mining/herbing to take advantage of the first month rush. I am expecting ore and herbs to sell for 300-500g/stack the first week with people rushing for realm 1sts.

  4. #4
    Drrwho's Avatar
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    Why not level a druid for mining/herbing, out of curiosity?

  5. #5
    Quote Originally Posted by Drrwho View Post
    Why not level a druid for mining/herbing, out of curiosity?
    I wanted a hunter more than I wanted a druid and my hunter was already higher level when I decided to level a toon specifically to have herb/mining for Cata. +15 to herbing, reduced herb collecting time, and flight form are all OP I know, but I do not plan on doing it long term.

  6. #6
    Sterling's Avatar
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    I've been hard at work acquiring valuable enchanting recipes on my main. Enchanting is a profession I've neglected in WotLK and this has cost me. My goal is to use out Inscription/JC/Enchanting to their full potential in Cata.
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  7. #7
    Quote Originally Posted by Allaphon View Post
    Do you have a source for the gold cap change? It is not that I do not believe you as I was able to google and find the blue post that said it was a definite possibility as well as Cata beta reports of it being higher. I would just like to see an official post.

    This is somewhat deflating to me to be honest since I had a goal of capping a single account on 1 realm ~2.14M. Obviously I know you can theoretically not be truly capped with guild banks, but it was something I had in mind and was fun to aim for. Right now, I have 1.3M of liquid gold and probably 200-300k worth of Cataclysm investments.

    And yes, having access to as many professions as possible is ideal as it will allow you to be diversified. Investing in WoW is no different than the real world. I am one of the world's biggest advocates of not having gathering professions, yet I am leveling hunter currently (44) that is mining/herbing to take advantage of the first month rush. I am expecting ore and herbs to sell for 300-500g/stack the first week with people rushing for realm 1sts.
    I'm not great at citing (or recalling) my references. I just recall reading that people on the PTR had tested it and discovered the new cap being 999,999g99s99c. I never read the official forums. I rely on MMO-champion (God, not their forums), JMTC forums and a few I pluck from Wow Headlines now and then. Besides even "official" posts can mislead you as Blizz is known for changing details at the last minute before a major patch and not informing their forum moderators in a timely fashion.

    As for herbs and ore costing 300-500g a stack, as a buyer I'll be doing my best to drive the price UP to those levels for the first couple weeks to slow down the competition. A few trade channel offers to buy ore at 500g a stack will bring out the natural greed reflex of the gatherers and drive up the posted prices on finished goods. What's the point of being millionaire if you can't asisst a wildly careening market to ever more insane heights?
    Author of "T'was the Night Before Glyphmas" Yes...~I~ came up with the name "Glyphmas".
    http://stormspire.net/off-topic/1876...tml#post165195

    2k-02/2009 Goldcap-06/2009 1000k-Dec 22, 2009

  8. #8
    Thorzek's Avatar
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  9. #9
    Sinshroud's Avatar
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    This was originally posted in the Wind Trader's Stormspire on the 27th September. Moving it into the public forums for greater benefit and just an interesting/insightful read. - Sinshroud.
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