Upfront, I'd like to say this was not a get-rich-quick scheme, nor easily replicable. I think opportunities for large gold-making change every major patch / expansion - so instead think of principles to help set you up for success. I'm using an anonymous account to post this because I intend to continue making gold (albeit much less aggressively) and don't really need the additional attention. :)
For the last three months, the US token fluctuated between 170k - 195k gold, making my current liquid gold (around 87mil) a value of ~$6,700 - $7,600.Timeline:
I joined a Full-pop realm in October 2020 with 0 gold, pre-SL release. Made no significant gold from launch. Sometime mid-way through the patch, I made my first million crafting missives for around two weeks nonstop (before missive prices tanked permanently). I noticed the potential with legendaries, but did not have the capital to fight with the large crafters - so focused on two Rank 4s: Boneshatter Helm and Umbrahide Vest (Feb 2021). If you remember 9.0 prices, this took a significant amount of gold to rank up, and took incredibly long to do with no capital. I basically reinvested every copper I earned back into crafting more legos to sell.
Around April 2021, I noticed raw materials were much lower than launch and made a crazy goal for myself - I was going to obtain Rank 4 in every possible legendary slot. Note: I was unemployed then (pandemic problems) and had plenty of time to almost play WoW fulltime. I maxed out all Leatherworking slots (mid-May), bought a second AH account, maxed out Tailoring (end-May), then Blacksmithing and Jewelcrafting (mid-June). Note this was a Full-pop realm, so I had plenty of competition plus profits were not high mid-patch - I had to repost on the AH very aggressively and religiously, plus continuously reinvested my profits into crafting new Ranks. I never exceeded 3mil liquid gold at this time.
Around May/June was when I started trying to focus on 9.1 predictions. The AH Podcast and /u/Manthieus
Youtube channel were my biggest sources. I hated the Domination socket concept (still do) because it ruined what I thought was my potential to make back the profit I wanted for the effort I put in. I was convinced I wouldn't even make one gold cap. There was no smooth sailing at any point. By the time I realized Vestiges required Renown 44, all my secondary crafters had to basically grind all Renown from 0 in a week (before 9.1 catchup). All the people making millions immediately in 9.1 release were selling ilvl 230 equips (which I did not plan to pursue). My biggest competitors also came back during this time - the largest of which was literally posting on four accounts simultaneously (props to dedication, was annoying AF to compete against).
But immediately once /u/PwnZer
posted here in r/woweconomy
that you unlock Vestige immediately at Renown 44 - that's when things started going uphill. :) Basically six months of non-stop effort I worked on (Feb - July 2021) started to pay off. You can see the gold climb here..
Nothing significant happened after to me, I basically rode the wave upwards until now (continuous daily reposting).Some Reflections:Reposting
- In certain markets, legendaries being one of them, you have to love reposting, because that's all you're gonna do for months on end. All your competitors will be reposting consistently, sometimes (like me) almost 12-20 hours a day. If you don't like it, just move to a different market - there's plenty of ways to make gold, and plenty of strengths to rely on.Crafting
- It takes me several hours(!) of pure crafting to replenish the stock of sales from the previous day. A lot of Callous Hides, Lightless Silk, Desolate Leather, Soul Dust, Laestrite Ore, etc.Patience
- The people who make large gold are the ones who stick it out, not the ones who undercut consistently for a quick sale. I know basically all my main large competitors by character name, and none of them practice undercutting.Price Wars
- Only three times, someone impatient tried to crash a lego item market against me, starting a price war, instead of reposting like everyone else. The secret is: when you're diversified enough, plus have patience, it makes no difference in the long run. The person with more capital will win in the end, especially when selling at a minor loss means basically nothing. None of those players stayed in the market longer than a week or two. (Honestly, I did glean some small pleasure from crushing them - after all, they started the fight with me first. Sorry, not sorry.)Competitors
- My partner joked I spent more time with my competitors than my partner themself! The truth is, with patience, everybody makes gold. There's no reason to be upset at reposting, it's a cost of business. Nobody knows the goblin life than other goblins anyway, we're all connected over something we enjoy doing. Plus, sometimes the market whispers each other and colludes to increase the price of certain items so everybody wins. ;)Are you a bot?
- lol no
(I question it sometimes myself)Easy Goldmaking
- Go back in time and buy Lightless Silk when it was under 1g, then sell it at launch at 30x the price, converting 3mil into 90mil. No effort required.Spending Gold
- I obtain more pleasure earning gold than spending gold, but one day I'll throw in the 12-14mil to get a BMAH Bruto service and get that longboi.Capital
- The rich get richer. True irl and also true in-game.Perception of Money
- It's a bit crazy - but everything becomes cheap and reasonable when you're a millionaire (in-game). My value of time is so much higher now - I turn down offers to craft items via whispers because it's not worth the customer service effort and going out of my way to make one small sale. Also I try to be generous with my friends and guild, without also being expected to act like a rich person. I used to think people who spent 10mil for a Brutosaur were insane, now I understand why they do it - there's not really a lot to spend gold on after a while haha. I can understand how billionaires irl have skewed perceptions of reality - and honestly don't think it's healthy for our society and our future.Future of WoW
- I think we all love this game, and we know that things will have to dramatically get better for the people who work there too, or there would be no real game for us to earn/spend gold on anymore. Shoutout to the #ActiBlizzWalkout and their charities (Black Girls Code, Futures without Violence, et al.).
That's it. This is my way of giving back to the r/woweconomy
community which I've kept an eye on for years. One redditor even gave me a 1-on-1 lesson on TSM via Discord (Dec 2020), and I appreciate him immensely. Shoutout to guildies who helped me craft a shitload of enchanted leather when I couldn't afford to max Enchanting in 9.0 too.
Wishing all the best to the new up-and-coming goblins (I was one of you a year ago). Hoping for some interesting things to happen in 9.1.5 and 9.2. Cheers!