Basic Gold Making

June 1, 2010

Over the last week I have had a number of questions/complaints from guild mates wondering how they can make gold. I have heard some of the most outrageous claims ever in guild chat, vent, and whispers. I have heard everything from “Tailoring, Enchanting, Inscription, etc. etc. make no money” to “I’ll never have any gold, its impossible.” All of these things make me want to go find a brick wall and start bashing my head against it. Heck even engineers can make a decent living on the auction house and they have a pretty poor prospect for making money off other players.

So its time to get back to basics for some people. I just want to start by saying EVERY crafting or gathering profession is able to make enough gold eventually to hit gold cap. This means  that if everyone wanted to they could eventually hit gold cap. This could even be done with very little effort.

This first thing you need to do when starting your journey with your professions is to determine your market/markets. Are you going to cater to the levelers of professions or are you going to supply those raiders every night during the week. Without this knowledge you will fail. You don’t just walk out your door one day and say I am going to make $3000 dollars today with no idea on how you will do that. You do so with a plan in mind and that should be the first thing you do when you want to make a ton of gold.

So now you have a plan even if it is “I am going to farm Sholazhar Basin until my eyes bleed and sell everything I get to the high end crafters.” Well then it is now time to implement it. If  you chose the farming method, well get cracking those herbs/nodes won’t farm themselves and I need mats cause I like my time. If you chose the other route then its time to start investing. Notice I didn’t say spending. We don’t spend in the wonderful world of Make Gold Land, we only invest here. So you have a list of items that are must invest in because that is how you are going to make money, but did you do your research on how much those mats are going to cost you? If not go back to figuring out your plan because you have to know what those mats are going to cost you throughout the week because you are going to be in it for the long haul.

Ok so step 1 and step 2 are done. We have a plan and we have invested in our future by purchasing materials to create stuff with. We get cracking at our preferred location of crafting and crank out a ton of the product we are going to sell. With that finished we walk up to the auction house and start posting like crazy! WAIT!!!!! WHAT???? NOOOOOOOO!!!!! Instead you want to go to the auction house and post a few of those precious items up for a 24 hour period and gauge what happens to see what our friendly competitors are doing or maybe you already did this part in your planning session (good for you).

If you haven’t done this then you are probably wondering why we are doing this. You have all this merchandise and you need to offload it in a hurry so you can be rich. Well unfortunately it doesn’t always work that way. You have to work around what people are buying and what your competitors are doing. You could go and post your whole batch on the auction house and just have it undercut for the next 48 hours by 30 silver and never see a dime out of all the stuff. Post 3-5 of each separate item and get a feel for the market. If stuff is flying off the shelf post more on your next posting and keep doing this until you reach a saturation point. If you have a particularly nasty competitor you may have to figure out what their thresholds are to be able to combat them. Make sure you always account for the 5% auction house cut when posting. You don’t want to think that you are making 5g on an item and really you are making -1g.

Eventually you will become comfortable with your market and want to expand. Always keep the simple rules in effect though. Plan, invest, produce. There is a market for everything out there on the auction house, including Rune Thread, Eternium Thread, and Ice Cold Milk.

Oh some simple tips for those just starting out to make a bit of gold right away.

Mining – Make Bronze bars and sell them on the auction house

Blacksmithing – Eternal Belt Buckles

Jewelcrafting – Cut epic quality gems and sell or create simple jewelry out of uncommon WOTLK gems (1.5g or lower per gem and eternal earth 5g or lower)  and sell to the vendors

Enchanting – sell scrolls with enchants on them or de greens and sell mats

Tailoring – Spellthreads still sell really well or netherweave bags

Engineering – Make pets or sell harder to come by engineering leveling items

Leatherworking – Still in business with leg patches

Herbalism – Start farming. (really I need my herbs)

Inscription – Armor and Weapon Vellums make an easy way to get into this business if you are just starting out

Skinning – Back to farming for you

Now get out there and go for the gold!

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