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WoW Economy Weekly Wrap-Up: WoW Tokens, Spreadsheets, Competitors & Methods with Method

posted 2017/09/16 at 10:08 AM by Gumdrops

check out the previous articles right here on wowhead.com/r/woweconomy subredditDiscord serverTradeSkillMasterWoW Tokens"Shadow"Blizzcon 2017 Virtual TicketWoW Token

Both European and North American prices reached record highs. Images courtesy of WoWToken.info/u/BlueMoon93Unless of course it continues to gets easier and easier to aquire large amounts of gold ingame.TR4X Gaminglast week's editiondealing with competitors/u/Lowrider asks how to take things to the next levelI, a goblin trainee, am trying to learn new ways of improving my goblin nature, today in terms of dealing with competition. What I currently do is that I have my competition added to my friendlist - whenever they are online I check their location every once in a while and during that time I'm doing more frequent cancel and post scans. Plus I'm trying to do my best in terms of high frequency posting anc cancelling. The thing I'm wondering about is the mindgames, do you know about any ways to be so so much of pain in the ass that it might demotivate competition. So the question is: do any of you have any experience about how to demotivate your competition or has any other goblin been so much of a nuisance to you in any way it made you to etiher change market or take a break out of similar posting times?/u/chchxy gleaned some interesting information that hurt his competitionThe only time I have ever been so obnoxious I got hate whispers was when I kept undercutting DMF trinkets by large amounts. My competition had made the mistake of telling me their crafting cost for decks and it was much higher than mine so.. I just kept undercutting right to where they would stop posting. idk if I would recommend that as a general strategy, I was just annoyed with the person.
General advice is usually the following:

be diversified so one obnoxious person can't ruin your income
crash the market until you can buy them out
track them (you are already doing this)

/u/notslashroar explains that proper preparation can negate a lot of issues with competitionI don't really think that I have competition. I have a system and I do the system, and numbers happen. The players I buy from or sell to don't have names or faces - they are just numbers in TSM accounting.
I don't mean for that to sound pompous or dehumanizing, but it's really important IMO to separate emotions from the system. I have a system I trust - if it tells me to buy your stuff, I do. If it tells me to post at a certain price, I let it.
My minimum sale and maximum buy prices are not affected by competition, and I don't have time to micromanage 10,000 auctions.His most recent updateI have created a Spreadsheet that automatically calculates profits for the major crafts available in Legion professions.
You can download the Microsoft Excel version of the spreadsheet here via box.com: Lazy-Goldmakers-Legion-Spreads. This version sadly only works on Windows-based systems.
The Google Sheets version of the spreadsheet can be found here: Lazy Goldmakers Spreadsheet Google Sheets Version.
The Google Sheets version works on all systems and is available anywhere as it can be stored in the cloud. Make sure you make a personal copy by clicking File and then Make a Copy as the original is set to view only so it does not get changed.

The spreadsheet uses the TradeSkillMaster.com API to download pricing data. The documentation for the function used can be found here if you are interested.
To download the data into the spreadsheet I have written a VBA macro that takes your API key and a region and server name and downloads the data automatically. A separate macro refreshes the data, but keep in mind that you can only query the TSM API 25 times per day for this data. If you try refreshing more than that it will fail, but updates approximately once per hour should be more than adequate.
The Lazy Goldmaker's websiteMethodDozerBobTradeSkillMasterBe sure to subscribe to Method to get notified on the second part in the series!/u/Thehealthygamer started off quite averagelyI started with:

75k liquid just from doing dailies, questing, etc.
About 100 Blood of Sargeras on my Shaman and Druid
I had 800 skinning and enchanting(at lvl 0) on Shaman, and 700 Alch/Enchanting on Druid(boosted).

I went from 75-250k:

Buying up enchanting mats, herbs, fish, bacon, defiled agument runes, potions, and elixirs. Basically I went after anything that raiders needed as my assumption was that these types of consumables would sell the fastest.
I then resold these same mats at above 90% market. This meant that sometimes I would have to hold onto hundreds of stacks for 5-7 days but it always paid off in the end. This is especially noticeable for bacon - on my server bacon sits at sub 60% market for most of the week and then someone buys it all up and I can unload everything I have at 90-100%.
During this time I also worked on enchanting and alch - got Formula: Enchant Neck - Mark of the Hidden Satyr, and Formula: Enchant Neck - Mark of the Trained Soldier. Recipe: Flask of the Whispered Pact and Recipe: Flask of the Countless Armies. I started funneling all my herbs and enchanting mats that I picked up for cheap into enchants and potions.

Doing this was pretty steady if slow gold. The biggest obstacle I found was that I lacked liquidity. For example I could have all my gold tied up in potions or bacon and miss great deals./u/chiliflavor also had a humble startI was consistently farming 2 herbs each day, 1.5 hours for starlight rose and another 1.5 hours for another kind of herb, for 2 months. Until I reach the point of having 400k. I was very overwhelmed since I cannot believe I got that money just by doing world quests and posting flasks whenever I go home at valley of wisdom.Shadoweave Mask

Spent a crazy 20 hours over the course of two days farming Shadow Silk and selling masks. I got into it late - mask prices were already down to 7k, but still made solid steady sales until the price went down to 3k/mask. Over that period I estimate I made about 500k gold.
7.3 seems to have sped up all of my sales. I've been watching trade chat and picked up quite a lot of great deals. 1,500 Leylight Shard at 20% discount. Hundreds of Chaos Crystal. I've turned those into neck enchants that have been selling for 4-5k each and selling 8-10/day. I picked up a BUNCH of flasks for 300g before 7.3 released and since then the price has gone up to 500-700g/flask because of the rise in herb prices. Made some great profit there.

Now, it’s almost 2 months away from my first year anniversary given that I have 6M gold. I’ve set my target to reach gold cap before the anniversary. Hence, I added ways to earn more. Using the infernal alchemist stone & ancient healing pots to turn into obliterum (with the help or order resource exchange for blood) and I went aggressive on selling flasks and potions especially old war, as well as 805 relics, sallow pigment, and all other stuff (I can’t remember everything that I have sold) that I can make out of the 5 professions that I have. I continue with this routine every day until I reached gold cap (up to 11.5m as of last week, the total of all golds of toons) three weeks before my first year anniversary of playing WoW.

Be patient

Be vigilant on potential opportunities, but at the same time:

Consider your risk, if you're not able to keep up with demand you can scale up your investment of time or gold

Maximize your potential sales by listing as much as possible

People are generally lazy, utilize different stack sizes of consumables and 'overcharge'

Be realistic with your goals, if you're not able to spend much time focusing on gold making you may need to specialize in niche markets

/r/woweconomy subredditDiscord serverstreaming live on Twitch@GumdropsEU

Comments

Comment by tanzineAlways a really interesting read, thankyou :)Comment by HavenCelesGreat work. This has becoming one of my favorite things to read here on Wowhead. =)Comment by MenelvagorI enjoy these articles and like to sell crafts on the AH, but I've found two high volume traders for felsteel who have driven down the unit cost from 89 to 69 gold in the past week. It's hard for the single 200 stack vendors to keep up with the 5 unit stack mobs. The article last week had some good suggestions but there has been a lot of profit lost due to a couple vendors greed.Comment by GumdropsAlways a really interesting read, thankyou :)Great work. This has becoming one of my favorite things to read here on Wowhead. =)Comment by GumdropsI enjoy these articles and like to sell crafts on the AH, but I've found two high volume traders for felsteel who have driven down the unit cost from 89 to 69 gold in the past week. It's hard for the single 200 stack vendors to keep up with the 5 unit stack mobs. The article last week had some good suggestions but there has been a lot of profit lost due to a couple vendors greed.Comment by NinjaLooterLoveUSpoiler Warning.

Cash out all your gold. Keep the money in your account. Quit the game. In 2 years, buy the gold. Since the prices go up. You made GOLD!Comment by MenelvagorI appreciate there feedback. Thank you!Comment by JolietJerryGumdrops, great article!

I have a question about craftable mounts that I was hoping you could give some insight on. Using the mount I can craft, the Steelbound Devourer, as an example, it was initially selling for over 100k but has now settled into the 50k range as more people picked up the recipe and more people got the mount. The mount shares many needed resources with the blacksmithing legendary so I've switched to that as it is far more profitable.

My assumption is that as we move into the next expansion and beyond, the collection of the needed mats for the mount will vastly decrease as we won't be on the Broken Isles anymore and that this should make the mount's price rise back up. Is this what has happened in the past in similar circumstances?Comment by GumdropsMy assumption is that as we move into the next expansion and beyond, the collection of the needed mats for the mount will vastly decrease as we won't be on the Broken Isles anymore and that this should make the mount's price rise back up. Is this what has happened in the past in similar circumstances?Blood of SargerasComment by chiliflavorWow! Thanks for the appreciation, Gumdrops. <3 Hoping to hear more from you! :)Comment by DidierAubin87Cool working. the report seems very positive.

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