Greedy Goblin

Monday, February 16, 2009

Mining

The ally-only pet business is fading out. It seems that a few horde members wanted the pet achievements, they were checking the common AH, were happy to find mine, bought it and don't look back. There are not many new buyers on that market. Surprisingly 1 buyer may buys several different pets, but no one buys more than 1 from one type. With a little business intuition one should buy more and list them in the horde AH for profit. It's surprising that all those buyers lack business skills.

I managed to level tailoring beyond 300, so I could start selling 16 slot bags. I've already sold 15, each cost 25G, materials cost 6G. Due to the server size this is slow (I sold more a single day on Arathor), but it's sure. People always level up and want bags to their banks. These bags will provide steady income.

I've dropped enchanting. There are not enough green stuff to disenchant in the AH to ever return the investment cost of leveling the profession. So I've dropped enchanting and started leveling mining. Smelting coppers and tins to bronze is a very high gold/hour activity, since the smelting itself is automatic, you can be AFK, so your time is only buying the materials and listing the products. While you make only 3-4G/stack, lot of stacks can be sold.

I currently have 1018G and finished the investment into tailoring. From now the money will only run in. Moral of the story: don't hesitate to drop a profession if it doesn't give proper benefits. While you may think that "I've spent X G on this profession and I lose it if I unlearn it", remember that professions are tools. If they doesn't work, they are worthless. Yes, it had been better to never have them, but we can't change the past, only the future.

9 comments:

cryptfiend said...

Interesting... I've never considered smelting bronze. I'll have to check if that is a profitable activity on my server.

Grzegorz said...

Seems like always there is some market spot I could have been missing. Not like I'm a great economist, but it's nice to make some gold from time to time, and last couple of weeks I been kinda on low profit. Perhaps it's about time I should check all the non northrend mining materials and calculate the overall profit of them. If not bronze, perhaps iron, steel or other of those old world regents will sell.

Stoico aka Impadin said...

If you have enginering, a good income is the mithril casing. They keep selling, 10g a piece on my server. If its enough to level enginering, I doubt it. But maybe Gevlon, you can answer that better than most of us ?

thedoctor said...

"I've spent X G on this profession and I lose it if I unlearn it", remember that professions are tools. If they doesn't work, they are worthless. Yes, it had been better to never have them, but we can't change the past, only the future."

well said

Esdras said...

When my paladin dings 80 i will be respeccing my priest.

I am 100% dropping tailoring for mining.

Gevlon said...

@Stoico: Mithril casing is used for quest http://www.wowhead.com/?quest=4244

Quest materials are usually selling high.

Carra said...

Yes, if I'd see some on neutral AH, I'd buy a few extra to list in my main factions AH. Much bigger selling base.

But I suppose not everyone thinks like this.

Mark said...

Stacks of bronze bars on my server go for about 15g / stack. It's a very nice business for the little work it takes me to do.

C. Vincent said...

My economics classes are far behind me, but I believe that this would be called a "sunk cost". One makes microeconomic decisions on the margin of future returns...Recognizing the fact that past investments sunk into a profession or venture have no impact on future profits is a key concept. On the other hand, while current marginal profit analysis is as simple as watching the AH, on a macro scale, one needs to be able to use historical context and leaked information to make your best guess about the future profitability of your choices. One can and will lose money if one takes the advice so literally that all one does is jump ships to the most lucrative current profession.
(Though I agree with you about enchanting - if you do enough questing/dungeon running to accrue a steady return of greens, the scrolls can be quite profitable, but playing the market for mats is a bust for the foreseeable future.)