I've just recently decided to get into the AH and learn how to make money, after four years of playing and being constantly broke.
I normally love to blog, but I don't feel like I have the time to set up a blog and update regularly with this, so I figured I'd create a thread on the Consortium where I will keep posting my progress and setbacks whenever I feel like it. Please join in with advice, questions or comments as you see fit.
I've been playing WoW since the middle of the Burning Crusade, and never meddled with the AH. The most I've had in gold at any time was 8k. I used to vendor all my green drops, only sold gathering materials on the AH, and spent way too much on glyphs, enchants and BOE's. I have no crafting professions maxed.
My starting capital is 1k.
What I have going for me:
On my server, the EU RP server Sha'tar, I have 2 max-level characters. One paladin, and one druid. They are both tanks. I also have a level 80 priest.
My first week on the AH:
I created a bank alt and sent him 1k to use. I installed Auctioneer, Panda and Auctionator. I don't have TSM yet though, and am still unsure if I need it.
I scan the AH three times a day - in the morning, midday, and evening.
The first couple of days I do very little trading on the AH, as I focus on building up some cash and let Auctioneer scan so I know what to buy and what not to buy. I try to follow the Millionaire's AH guide on here.
To make cash, I take my druid to Outland with a stash of gold to do the Outland run and re-post everything on the AH. I also let the druid complete the Mechanical Chickens quests. This is all done on the first day, and I post the Chicken on the AH for 5,5k gold. I leveled my priest from 80 to 81 and made 1k gold in the process. I send 50% of my earned money to the bank alt to play with, and keep the rest so I have something to fall back on if my AH adventures fail.
The next two days are spent farming on my Druid. I have decided to make him a scribe, so I farm all the mats needed to max him out. Every glyph I create I send to my banker who puts them on the AH. They are moving slow though, so I'm not making more until most of the other ones sell.
By now I'm noticing some bargains. At least I think they are. I buy pets and repost them at a higher value, and I buy recipes and plans and repost them as well. That, along with the profits from the Outland run, puts me at 2k. I stay away from weapons and armor right now, because they seem to move slowly on the AH, so unless I can find a good deal I stay out of that market.
My chicken sells and puts me at 7,5k gold.
I also found an epic posted way too low, bought it for 200g and reposted it for 600g. An unfortunate AH-seller posted a crafted PVP belt (Ornate Pyrium I think) for only 7g. I snapped it up and reposted it for 300g.
Today, I found myself with 9,2k gold earned. That's a profit of 8,2k gold. I also started working on jewelcrafting as a profession for my Paladin, and my priest will take up tailoring and enchanting once JC is maxed.
I also bought a port to Dalaran and did the Dalaran run. That set me back down to 8,6k. And as with the Outland run, I'm a bit nervous if things will really sell or not. On the other hand, I know I can make 500g in a day.
My goal right now is to crack 10k earned before the week is up. I have 92 auctions up and running, and will be back later to report on how things are going.