I found the holy grail for any serious scribe this week. The reliable farmer. At the beginning of the week I saw him advertising about cheap adders tongues, so I decided to send him a whisper to purchase them all and asked if he would have anymore in the future. “Sure” was the answer I received, which meant it was time to see how far I could push. I asked for 30 stacks a day at 14.75g. “Sure”. Hmmm well why not push a bit harder then I already had. “How about eternal lifes….I will buy them at 12g each and I need 2 stacks a day.” “Ok no problem.” I was not to optimistic about this yet until I would start seeing goods flow into my mail box. A lot of people I try to make deals with just disappear never to be heard from again. Well the last few days I have received the promised amount from him in the promised quantities.

I am hoping this can go on forever at this point because even if I am so flooded with eternal life I can always turn a profit on the auction house at the tune of 17g each, otherwise I just turn it into cards.

On other notes of interest, they will be raising the number of infinite dust received from items in the near future.

There will be a lot of money to be made by enterprising goblins the near future, so keep an eye on the updates from blizzard.

Transmute Titanium!

October 21, 2009

In a nice tucked away spot on MMO-Champion I found this beauty of a patch note. Transmute Titanium no longer has a cooldown.

Transmute spec alchemists such as myself are doing a little dance because the mats for this are fairly cheap and it will no longer interfere with our transmuting epic gems.

Between this note and the Arctic furs there is going to be plenty of profit to be made in 3.3.

What makes a goblin?

October 20, 2009

Many socials look at goblins as these green eyed gold grubbing monsters who would sell their own mothers to make a dime. I am here to say that not all goblins are heartless bastards ready to take the money and run.

Goblins do have a very particular mindset that allows them to prosper even in a poor market. Goblins are inventive which allows them to work around the system and leverage the things that will benefit them most in the long run. Throughout the blog sphere we have seen goblins that have leveraged raids into benefiting themselves (ninja looters do not count), many goblins who leverage many tradeskill markets even when people whine and complain that its too hard or there is no profit in that market.

Inscription for many of the socials complained that this market has no profit and is way to difficult to deal with. Goblins did the actual math, found or created addons to help with making this market easy to manage due to automation. When materials were scarce they went and found farmers who would sell well below auction house prices and would be able to continue to sell in mass quantities. When competition arrived they adapted to either push the people out of the market via crashing it or sold them materials they had been collecting for more profit then they would have gained by continuing in the market. MMO champion helped prove this to many goblins on different servers. When those posts went up we didn’t lament that our gold making strategies were about to get nuked. We adapted by buying up all the materials and selling for insane profits to the M&S who thought they could beat us at something we are more adaptable with. Goblins then crashed markets of the finished products to push those out who had just bought all the inflated material priced goods. There was very little whining to be had and much gold making because another goblin thought he would help others prosper off the backs of his goblin brethren, when in the end all he did was force us to adapt out of our same old routines and wake us up. Really I have to ask was the MMO-champ articles aimed more at the M&S who thought these were get rich schemes or more for the goblins who also read the site as a way to wake them up and make us be more innovative in our tactics again.

Goblins are also the 1 stabilizing factor of the economies of a server. If your server did not have goblins in it then you could see prices fluctuate at such an insane rate as to make buying things on your server a hassle almost not worth dealing with. The goblin crafters keep the farmers in business. Without the goblins the farmers would not make nearly the money that they do and prices for stacks of things would fall into the range of almost nothing if the farmers kept farming without the massive buyouts of the goblins. If the farmers left the market, supplies of items would float so high as to be unaffordable to anyone in the long run.

In the end we need these goblins on our servers to help economies grow and prosper and to allow the little guy  to buy things at a reasonable price. And you never know you could end up in a guild like mine where a goblin hides and every now and then supplies some people with something special from the work they have done. Just because goblins tend to prosper doesn’t mean they don’t share with the little guy now and then.

The crash is over

October 20, 2009

Well it seemed that a few people have left the glyph market that I have been crashing and prices are starting to creep back up. This was a good time for me to reset my fallback up to 25g and my undercut to 50s.

Prices on herbs also crashed in the past few days which I assume from people leaving the market at an alarming rate. I started to pick up adder’s tongues for 13.5g a stack.  Normally I would see people sucking these up faster then I could keep the price at 17g a stack. Snowfall inks are now down to 9g an ink and if they go much lower I may have to suck em all up and make cards out of them or make runescrolls of fortitude.

I have left the saronite shuffle to others for the time being because I have been pressed for time lately and inscription is making me enough money so that I don’t have to worry about it at this time.

This is just a short update for my records and I will have a real article up later today.

Progress

October 13, 2009

So I have been carpet bombing my auction house with glyph after glyph pushing prices into the dirt. Most of the big inscriptionists are not too keen on going below my thresh hold for glyphs so I tend to bottom out the market fairly quickly and have pushed a bunch of people out of certain glyphs all together already.  There are the few that are still fighting with me on other glyphs though and every now and then they will post below my thresh hold and suck up a loss.  Some have even moved over to selling snowfall inks in a move to try and staunch some of their losses on the glyphs. This has pushed snowfall inks down to record lows on the auction house because they are looking to make money any way they can, but for the time being it is not through glyphs.

Most of my snowfalls have been used to make runescrolls for selling and for raiding on my 2 level 80’s, so in essence those cost very little if anything at all when I figure in sales of other items.

Currently we have 92 pages of glyphs on my auction house and I am hoping to drop this back down to the 72 pages it was 3 weeks ago. I figure a few more weeks of carpet bombing and dumping the prices into the dirt should shake out a few more glyph sellers.

The effects of the carpet bombing could be felt as early as this past Sunday when someone was dumping back stock of herbs on the auction house and I managed to get around 20 stacks of icethorn for around 9g a piece and a bunch of adders tongue at around 14g a piece. What this means for me is I now have a bank tab full of herbs to start milling again and can raise the numbers on my stacks of glyphs in my bags to a bit higher level so I wont have to craft as much on a daily basis.

On another note. Our 10 man raiding cleared the second boss in Heroic TOC before we decided to call it a night. I was hoping we would just take 1 shot at heroic Faction Champs but it looked painful so maybe next week. Tonight we also extended our raid lockout on Ulduar 10 man so we could work on Firefighter. I expect lots of pain in our future.

So my budding glyph business started to become a complete success and I have gotten on the radar of some prominent herb farmers on my server.  So much so that I started to receive lots of whispers to buy herbs this week. I think it was mainly because I stopped buying herbs for about a week because prices had sky rocketed on my server by an additional 5-6 gold per stack. There is no way I am paying 23-25g for a stack of adder’s tongues.

One herb farmer wanted to sell me stacks of herbs at 19g a stack. That was definitely a no go since I buy stacks at 17.5g or less only. The next day I get whispers to buy herbs at 18g a stack. I end up haggling a little bit with that person and get them down to 17g a stack and I buy up all the stacks of herbs that they have.  Unfortunately I was unable to talk them into coding me herbs, but I can live with stocking up now and then when I log on in the evenings or during the days on the weekends.

All of this seems fine and dandy but MMO-Champion decided now was a great time to put up a guide on how to make money with inscription.  What this means is glyph prices are going to be going nuts for a while.  They were posting to put glyphs up for only over 6g a glyph. Seems ok to me since I still make plenty of money on glyphs below that target number.  They also mention to only undercut by 1c.  I figure well this is going to be easy work dropping prices down on glyphs for the next week or so.  Little did I know that some people were using this as an opportunity to reset glyph prices to an upper level.

I run my normal gamut of log in after work and dump my glyphs into the auction house, which is normally after all the other sellers have already dumped theirs in for the evening. I log over to my dk and do what I plan on doing that night, then clear mailbox of profits on my shaman later that night and recarft glyphs and repost before sleep.  This normally works as a great cycle for me since I can walk prices down and move people out of the market over night as well. What I didn’t realize is that with most of the glyphs in the high price range more people were sticking around to undercut me for the insane profits it would provide. So I log into my shaman and check my mailbox and it is empty.  This of course does not bode well for my competitors because I am not a happy camper since I had just spent the last month scaring away competition so I could start raking in the money.

This leads to the new method. Dumping glyph prices to rock bottom in a very short time. 12 hour repost cycles with 1g undercut and no glyph going up above 15g now. This should hopefully scare away some more competition and make me a happy camper in the long run. Either way someone will be leaving this market and it won’t be me in the long run.

MMO Champion and business

October 1, 2009

So MMO-Champion decided to put up 2 posts with ways to make money on the auction house. 1 of those posts was on my favorite way to make money at this time, Inscription. It was also on my other favorite way to make money, Jewelcrafting/Disenchanting.

At the moment this isn’t affecting my business too much other then raising the price of herbs on my server slightly. It seems there are not enough people out there who work Jewelcrafting and Enchanting to make Saronite ore on my server move from its current price of 13g per stack.

What it has done is let me sell a ton of my excess mats such as Snowfall Inks (for cards) and raw green quality gems for around 2.5-3g per gem. Seems like a pretty good deal to me since they were going for half  that prior to this mess and it allows me to bust saronite ore without having to turn it into enchanting mats for profit since infinite dust goes for around 3.3g on my server per dust. I figure this windfall saves me around 2 hours a week on average and allowed me to turn a 5.5kg gold day yesterday alone.

It seems on my server we now have a new influx of Inscriptionists which is amusing because all of their glyphs are getting undercut all to hell. I expect these new baby goblins to be out of the business in about a week because they won’t have a clean setup going and the current inscriptionists on the market are undercutting by 20-40s per post today with an average repost of 3-4 times daily.  Most of the inscriptionists on my server also have a low thresh hold where they no longer post which is right around 2.4g-3g.  We should hit these prices on most glyphs in a few days if people are trying to push into our market. I know for myself going down to even 1.5g I would still turn a profit on any glyph dumped that low due to selling off all my snowfalls as opposed to making cards out of them at this time which allows me to profit off every glyph I sell above 1g.

I give the market about a week to eject all the new weak willed wanna be goblins and level back out with the 2-3 new people sharing the market.