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  1. #1
    US-Drenden(A)
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    Living Steel - the Shuffling "Unsung Hero"

    I don't recall seeing this posted here anywhere else, and it seemed so obvious to me, I thought I'd do it myself.

    [Ghost Iron Ore] --> [Living Steel]

    DO you ever feel like you've got so much ore you'd like to diversify into a new market? I believe [Living Steel] can be one of those markets. And with 5.2 coming, and the potential for this market to rise in both demand and value, it's something to consider. Here's my napkin math on how to make the MOST out of "shuffling" some of your ore into [Living Steel].

    TL;DR
    86.7. That's the "conversion" factor of one [Living Steel] to one [Ghost Iron Ore], or the other way around. Assuming you have Transmute Master Alchemist(s). In other words, if [Living Steel] is selling for 86.7 times the current market price of [Ghost Iron Ore], it is profitable. And if the value of [Ghost Iron Ore] is less than the cost of one [Living Steel] divided by 86.7, then buying it will result in a profit.

    17. Is the "conversion" factor of one [Trillium Bar] to one [Ghost Iron Ore], or the other way around. Assuming you have Transmute Master Alchemist(s). In other words, if [Trillium Bar] is selling for 17 times the current market price of [Ghost Iron Ore], it is profitable. And if the value of [Ghost Iron Ore] is less than the cost of one [Trillium Bar] divided by 17, then buying it will result in a profit.


    MATH ONLY (Assuming a 15% Proc Rate)
    [Ghost Iron Ore] --> [Living Steel] = 86.7
    [Ghost Iron Ore] --> [Trillium Bar] = 17

    [Ghost Iron Bar] --> [Living Steel] = 43.3
    [Ghost Iron Bar] --> [Trillium Bar] = 8.5

    [Trillium Bar] --> [Living Steel] = 5.1


    DETAILS

    Transmute Master @ 15% (**Note I'm using a 15% proc rate for this. Historically it's been 20%, but to account for low volume fluctuations, I'm erring on the side of a lower proc rate).
    Buy [Ghost Iron Ore] @ 3g each
    Smelt two [Ghost Iron Ore] into one [Ghost Iron Bar]. Current investment = 6g
    Transmute Ten [Ghost Iron Bar] into one [Trillium Bar]. Current investment 6g x 10 = 60g, - 15% proc advantage = 51g
    Transmute Six [Trillium Bar] into one [Living Steel]. Total investment 51g x 6 = 306g. -15% proc rate again = 260.1g
    260g / 3g = 86.7. So the value of Ore x 86.7 will equal your "cost" to make one [Living Steel]. Or the other way around, the value of one [Living Steel] / 86.7 will tell you your break even cost for buying [Ghost Iron Ore]

    Transmute Master @ 20%
    Buy [Ghost Iron Ore] @ 3g each
    Smelt two [Ghost Iron Ore] into one [Ghost Iron Bar]. Current investment = 6g
    Transmute Ten [Ghost Iron Bar] into one [Trillium Bar]. Current investment 6g x 10 = 60g, - 20% proc advantage = 48g
    Transmute Six [Trillium Bar] into one [Living Steel]. Total investment 48g x 6 = 288g. -20% proc rate again = 230.4g
    230.4g / 3g = 76.8. So the value of Ore x 76.8 will equal your "cost" to make one [Living Steel]. Or the other way around, the value of one [Living Steel] / 76.8 will tell you your break even cost for buying [Ghost Iron Ore]

    Non-Transmute Master
    Buy [Ghost Iron Ore] @ 3g each
    Smelt two [Ghost Iron Ore] into one [Ghost Iron Bar]. Current investment = 6g
    Transmute Ten [Ghost Iron Bar] into one [Trillium Bar]. Current investment 6g x 10 = 60g
    Transmute Six [Trillium Bar] into one [Living Steel]. Total investment 60g x 6 = 360g.
    360g / 3g = 120. So the value of Ore x 120 will equal your "cost" to make one [Living Steel]. Or the other way around, the value of one [Living Steel] / 120 will tell you your break even cost for buying [Ghost Iron Ore]

    On my server, Ore is sub-2g each (1.85g x 86.7 = 160g), and [Living Steel] is selling for 400g+.

    OTHER THOUGHTS
    • This is an obvious one - daily CD. So either you have a nice army of Transmute Masters, or you have lots of friends willing to help you!
    • Don't forget about selling the other bars along the way, especially Trillium Bars. These are also profitable, although I haven't calculated the factor for them it's easy to calculate.
    Last edited by Namssob; February 27th, 2013 at 09:01 AM.
    How To: Create And Sell Profession Kits ---- MoP Shuffle Flowchart ---- Article: A Case For Dual Gathering
    "Never underestimate the sheer amount of derp the majority of WOW's playerbase possesses." -- Belrandir
    "They could have offered me free ERPing in Goldshire with real women over Skype for the next year and I would have passed." -- Zerohour
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  2. #2
    US-Azshara(H&A)
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    Great analysis +rep!
    I also strongly recommend having a blacksmith Living Steel Beltbuckle by getting that Klaxxi rep, took me I think 3 days tops...
    @jimmyolsenblues on twitter https://twitter.com/#!/jimmyolsenblues

  3. #3
    EU-Ulduar(A)
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    I wondered if this fits with my recent strategy to enter the belt buckle market in order to enforce my vertical ore monopoly!

    I have to buy more ore than I can process for gems and enchanting scrolls/mats, so I figured the following:

    Make Buckles and sell them at or slightly below mats cost (so they actually do sell and I don't have to camp all day) -> When sold, buy more Living Steel and repeat -> Supply of Living Steel falls -> Prices for Living Steel rise -> More people want to make Living Steel -> Demand of Trillium bars rises -> People are buying MY trillium bars I create.

    This way I can get rid of excess ore that I can't/won't process into gems and/or enchanting materials. What do you think?
    I fail to see the source of your certainty.

  4. #4
    US-Drenden(A)
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    Quote Originally Posted by Anbieter View Post
    I wondered if this fits with my recent strategy to enter the belt buckle market in order to enforce my vertical ore monopoly!

    I have to buy more ore than I can process for gems and enchanting scrolls/mats, so I figured the following:

    Make Buckles and sell them at or slightly below mats cost (so they actually do sell and I don't have to camp all day) -> When sold, buy more Living Steel and repeat -> Supply of Living Steel falls -> Prices for Living Steel rise -> More people want to make Living Steel -> Demand of Trillium bars rises -> People are buying MY trillium bars I create.

    This way I can get rid of excess ore that I can't/won't process into gems and/or enchanting materials. What do you think?
    Sounds like a great plan. There are multiple paths you can follow with the Trillium and/or Living Steel bars, which I purposely did not address in my post. So if Belt Buckles are selling at the same value as Living Steel (400g, 400g, for example), you know you can diversify your bars by making Belt Buckles and still profit. if they're selling for more, then it's just more profit.

    Same with the Masterwork Spiritguard mats, although demand for these is low, the mix of Trillium bars and Ghost Iron Bars for mats makes these a very easy source for profits.
    How To: Create And Sell Profession Kits ---- MoP Shuffle Flowchart ---- Article: A Case For Dual Gathering
    "Never underestimate the sheer amount of derp the majority of WOW's playerbase possesses." -- Belrandir
    "They could have offered me free ERPing in Goldshire with real women over Skype for the next year and I would have passed." -- Zerohour
    "Scissors are OP. Rock is fine." --Paper

  5. #5
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    Another point is to always check the AH for the bars at each step of the process; you often can find the intermediate bars selling for less than the cost of the ores to get to them. Don't just look at GI Ore and LS prices.

  6. #6
    US-Drenden(A)
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    Quote Originally Posted by gardibolt View Post
    Another point is to always check the AH for the bars at each step of the process; you often can find the intermediate bars selling for less than the cost of the ores to get to them. Don't just look at GI Ore and LS prices.
    Excellent point, +rep - thanks for pointing that out!
    How To: Create And Sell Profession Kits ---- MoP Shuffle Flowchart ---- Article: A Case For Dual Gathering
    "Never underestimate the sheer amount of derp the majority of WOW's playerbase possesses." -- Belrandir
    "They could have offered me free ERPing in Goldshire with real women over Skype for the next year and I would have passed." -- Zerohour
    "Scissors are OP. Rock is fine." --Paper

  7. #7
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    My favorite part of going this route (I recently leveled a few more alchemists, and am snatching mats for more to come) is that once you have your miner and alchemists set up, the process is 99.9% A F K.

    I was able to push off massive amounts of ore that I didn't feel like prospecting into AFK smelting, then AFK transmuting, then the daily click of my living steel macro on each toon - and done.

  8. #8
    EU-Kazzak
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    I do the transmute but find that sometimes even though its profitable to do that there are so many people posting that i get undercut quite quickly but by just doing Trillium Bar and posting 20 or so a day and sell most of them. Let others buy mine to transmute i make a profit and dont have the hassle of reposting

  9. #9
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    I made a ton of gold when MoP first launched off of my alchemy and kind of forgot about it because other Alchs caught on and eventaully Trillium bars were going less than the cost of the materials, so I gave up on it. A couple of weeks ago I looked back into the market, and its profittable to shuffle again, though is much smaller quantities. Nonetheless transmuting makes small amounts of reliable steady gold again. I love it.

  10. #10
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    Quote Originally Posted by Emocuts View Post
    I made a ton of gold when MoP first launched off of my alchemy and kind of forgot about it because other Alchs caught on and eventaully Trillium bars were going less than the cost of the materials, so I gave up on it. A couple of weeks ago I looked back into the market, and its profittable to shuffle again, though is much smaller quantities. Nonetheless transmuting makes small amounts of reliable steady gold again. I love it.
    This is what I noticed. When I can find cheap ore I buy a ton of it and go nuts. I've decided to go with leveling another alch transmute master as it is pretty easy money and with 5.2 I am pretty sure living steel will be in high demand. (As will trillium bars...you will need 20 for the legendary quest, so I think I will try to have a guild bank tab filled with them just in case!)

 

 
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