1001 Gold Tips - Add Yours!
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The "1001 Gold Tips" thread is being revamped! All credit and many thanks go to Sterling and the original contributors for making this thread such a big help to goldmakers both casual and advanced!
It's time to give "1001 Gold Tips" a new beginning, because the big changes in Warlords of Draenor will bring new ideas to share!
1001 Gold Tips is an aggregate of WoW tips for all aspects of gold-making. It will be mirrored on MMO-Champ, WoWhead forums, and whatever popular forum I can find. Its purpose is to raise interest in gold-making, and hopefully draw some traffic with associated links. Want to participate in making this thread a great resource in Warlords of Draenor? Just add your own tip! Post here, and I'll edit it in.
If you find a helpful tip here, be sure to thank the contributor by giving them +rep!
Bloggers: This is a great opportunity to send traffic to your site. Simply submit a tip and a relevant blog post!
The Best Gold Tip in The World (of Warcraft): Find a gold-making community and follow gold blogs and podcasts!!
I humbly and with no bias whatsoever present you The Consortium, the largest and most active gold-making community in WoW. Come check us out. We don't bite. Unless you're a troll.
There's a mountain of stuff to be learned about goblineering, and there are some great sources of information out there. I'd encourage you to subscribe to a variety of gold blogs and podcasts and participate (or lurk) in gold-making communities.
Blogs and podcasts come and go, but here are some current favorites:
Late Nite With Stede
Copper to Gold
Phat Lewts' Gold Blog
Zerohour's Nameless Blog
El's Extreme Anglin'
Additional blogs and podcasts may be added to this list if we can confirm that they are active and useful after Warlords of Draenor releases.
Anyway, that was tip #1. On to the rest!
TradeSkillMaster (TSM) is the undisputed king of add-ons, and is The Consortium's primary add-on recommendation.
TSM is free, provides the best overall functionality and the most powerful set of options and tools, and can support any gold-maker or crafter from novice to advanced. It requires a bit of set-up, but one of our very own Wind Traders made a series of great tutorials to help: Phat Lewts' Learn TSM2 Guides
TSM is modular, so a beginning gold-maker can start with just the basics. Experienced goblineers can select more advanced modules according to their needs.
The core TSM add-on and all associated modules can be downloaded here: TSM and modules
The TSM discussion and help forums can be found right here on The Consortium site: TSM Forums
If you are a casual goldmaker and just can't bring yourself to try TSM, then you may want to try Auctionator - it's a basic auction management tool.
The Undermine Journal (TUJ) provides Auction House statistics and data across all WoW realms. Simply clicking on The Undermine Journal tab at the top of the Consortium website will take you to TUJ.
Wowuction includes Auction House prices, stats, and economy trends on a realm-by-realm basis. This is another tool that can be accessed simply by clicking the Wowuction tab at the top of the Consortium website.
The Goblin Profitability Suite (GPS) is a collaboration between @Kathroman and Wowuction that provides modules meant to bypass offline, spreadsheet-based resources. It's always a work in progress, and should be very helpful as WoD unfolds.
The TradeSkillMaster website is a great standalone tool even without the TSM app or addon.
The Realm Pop site can provide a good snapshot of population and Alliance:Horde ratio if you are thinking of expanding your gold-making activities to new realms.
Diversify and try new things. Not everything will work out, but the experience from trying and figuring out why something failed or succeeded is invaluable.
Get to know your competition. Even if there are no serious "undercutting wars" or campers, you should always prepare yourself. With little effort you can learn a tremendous amount of information about your competition and how they play.
When creating Auctioning toons, consider leveling up Human, Orc, or Troll Mages to 7 (these races start closest to a capital city). This lets you "Blink" to and from your Mailbox and AH.
Stagger your auctions. Many successful goblins begin to build auctions rates in the thousands per day. An excellent way to handle this so that you're not overwhelmed is to split your long term items (such as transmog at 48hrs) in half over two days. (i.e., post half on Monday, half on Tuesday, Wed relist the first half, etc.)
Always remember to take into account the Auction House (5%) cut on the sale of every item when calculating profits. An easy way to work out the listing price is take the sale price X 0.05.
Be aware of AH deposit costs - they can add up. Deposits are based on the Merchant Sell Value (MSV) for the item, and the duration of the auction. For example, the deposit for a 12-hour auction is 15% of MSV, and for a 48-hour auction it's 60% of MSV.
Go to Enchanting trainer, buy a copper rod and list it on the auction house for 35g, it will sell every weekend.
Having a mount available (Traveler's Tundra Mammoth, Grand Expedition Yak) that lets you sell grey items and do on-the-spot repairs saves valuable time.
Using a Sky Golem mount for your gathering character allows you to pick herbs while in flight.
General - Beginner:
Learn to think in terms of opportunity cost. Every choice you make has an alternative. That alternative may be an opportunity cost. For example, items you craft to sell aren't "free" just because you gathered the materials. The time you spent gathering could have been spent in more profitable activities, allowing you to buy mats, craft the items, and end up with more profit than if you'd done the gathering yourself.
Always read patch notes and be aware of upcoming game changes. Between expansions, more gold is transferred in the weeks after a patch than at any other time. The people who benefit most are those who planned ahead.
Set obtainable goals, and don't forget to reward yourself for meeting those goals. What good is making gold if you don't spend it?!
Take the time to learn the markets on your server. Go to WoWuction, TUJ, and review the profession materials AND craftables for whatever profession you're choosing to go into. This will help you better understand where the best margin, and best use of time is for that profession.
General - Advanced:
L2Snipe! TSM can be set up to snipe bargains of all types off the AH, neatly grouped into whichever categories interest you (enchants, pets, legacy items, etc.). http://stormspire.net/consortium-qua...ery-guide.html
Don't completely throw out old gold making strategies. Even though they may not be useful anymore, try to follow the thought process it would have taken for others to reach the conclusions they did. Learning how to think like a seasoned goblin can lead you to discovering your own unique strategies!
Professions are being reworked in WoD - even though pre-WoD professions remain largely the same, the ripple effect from the WoD changes will have an impact at all levels. So our lists of profession tips are being re-built! We'll need everyone's help to do this, and are looking forward to the tips you contribute for Alchemy, Blacksmithing, Enchanting, Engineering, Inscription, Jewelcrafting, Leatherworking, and Tailoring. And don't forget the so-called "secondary" professions, which can be just as important (and lucrative!) as the primary professions: Cooking, Fishing, Herbalism, Mining, and Skinning.
Naturally we can't offer tips about making gold in WoD without a section devoted to Garrisons. Lots of information about Garrisons was flying around during beta, but we'll wait to compile tips here until we see what happens with Garrisons after they go live.