Greedy Goblin

Sunday, March 22, 2009

Business report

I'm doing well, 10K G gained since last week.

I'm investing into titansteel bar, frost lotus, ebonweave and a few arctic fur, but not too much. While I hope they will work, I don't trust them enough to put serious money behind these hopes. I spent around 4K on them, so that 10K is rather 14.

On the other hand the glyphs, the mongoose and the bags work well, though not so well as a month ago. The market is not only deflating but also slowing down. Lot of people stopped playing.

I've started selling horde-only pets in the common AH, sold some, but doesn't worth frequent flying. I'll stack up once a week.

I've also started selling Armor Vellum III-s and selling Mammoth Cutters and Saronite Razorheads. I also have a strange business: I'm buying Arcane dust for 0.8G in big stacks and sell it for 1.5-2G as ones. I have no idea why, but people are buying them.

What is really surprising is that no one seem to care to take "my" businesses. It would be so easy to undercut me, but it happens only on the bag market, but even that is so little, that I simply ignore it. People buy the competitor's bags, then mine.


Lupius said...

If you're flying too much for the neutral AH business, wouldn't it be easier to make an alt and park him in Booty Bay?

Gevlon said...

The problem is not flying to the neutral AH. The problem is collecting the pets from different cities.

Kohaku said...

grammar stuff... you seem to confuse 'then' and 'than'

'then' is for 'A then B' to mean 'B after A'

'than' is for comparing, so 'A more than B' sorta.

I saw the mistake appear twice between this post and the previous post.


Bill said...

Wow, 10k on a slow week? Even when I was doing glyphs more regularly it wasn't anything near that. But competition does matter. People selling bags for 5.5g hurts.

But that doesn't mean there wasn't to be made. People are still buying belt buckles, weapon chains and spellthread. And I'm sure I could find a few new items if I looked.

Archangel said...

About the same on my server: People stopped undercutting me in the Savage and Tempered Saronite plate business. I listed items for 48 hours and lately, and I'm rarely undercut by someone else. Same goes for scrolls with enchants. I've noticed less competition in other fields too, but I won't go in detail here.

Also I've noticed a significant decrease overtime in the supply of ore, bars, herbs and inks, thus driving the prices up a bit.

On the other hand, unlike the past weeks, lots, and i mean lots of players, are listing huge amounts of Infinite Dust, Greater Cosmic Essences and other enchanting materials. Starting two weeks ago, Infinite Dust and Cosmic Essences went from 2-3 pages to 13-16 pages on the AH.

Anonymous said...

Mind if I ask what kind of bags you're selling? I've done the math on just about every kind that I think would move, but there's no way I could come out making more than a couple gold per bag since I'd be buying mats...even if I only purchase them on weekends.

Gevlon said...

@Anonymous: Netherweave Bag, Mycha's botanical bag, Ebon Shadowbag

Anonymous said...

I've been trying to sell some bags. Ebon Shadowbags just wont sell, been trying to sell them for ages and no luck yet, so gave up those.

Netherweave Bags sell, but there's some dude that lives at the auction house in Exodar and he's posting the bags at 6.99g each. The mats cost about 4g or so.

I'm sure I could sell the bags for 12g at least, but the dude just wont go higher. I asked him today and he just said "7g is the price I've seen them go for". Tryed to tell him he could sell em at 12g aswell, but he didnt seem to care.

Any idea what to do? I cant buy the dude out, as he does nothing but sit at the AH in Exodar and I cba with checking the AH more than 3-4 times a day.

Anthony, New Zealand said...

@ Anonymous

I had that problem for a while on my server too. If that is the price he wants to sell at, it is more about playing the mats market first. I now have stocks of Netherweave that I paid about 2g40s for. Add the 40 for the runethread, and at 7g per bag I still make 4g each.

If all the other player does is sit at the AH, then he/ she is probably also working in a range of other markets. I still dont think 4g per sale is too shabby for about 1 minute's work: sure, it is not as good as the 10 - 11g I'd prefer, but I still cant find any quests that return 4g for 1 minute's work!

Also Gevlon is right about Mycha's Bot bag: a nice side line that adds to the market.

Finally, as a complete alternative, do you have high level toons with enchanting (min 350) and LW (min 370)? If you do, an option is making Arctic Boots and then DEing them. Listing the resultant mats individually is netting me 700g per week from that business alone.

Fixee said...

I do most of my business in spellthreads, NW bags (tons of competition), buckles and ally pets. Making maybe 2k/week, though it's hard to know because I spend so much in mats, which is bursty. I'm also very heavily invested in 3.1 speculation (about 40k).

Ebon bags and Mycah's bags don't move on my server. Most items have slowed considerably, so I'm having a hard time making gold at the moment... people aren't acquiring upgrades much anymore. As soon as 3.1 releases, and then S6 starts, things will go crazy again.

Bootsmann said...

I'm a bit surprised you don't use a bagmod like Tbag ( I would think that with as much stuff as you deal with it would be nice to have a mod which autosorts your stuff.

Sydera said...

You guys have to find a workable market on your server, NOT just copy what Gevlon does.

It's a model. An example, if you will--not a formula for success in every place.

On my server, I could make a little money with my tailor or a good chunk of money on flasks. In my limited time, guess what I sell?

Anonymous said...

comment on the dust selling:
Convenience and total price (versus price per) sometimes win out. If I'm just hopping onto the AH for a few mats to make myself a piece of armor or imbue some cloth, then I really only need a few pieces, not a full stack. Thus although each piece costs me more individually, the overall price is less. Also with this mindset, of quick in, quick out, the player isn't inclined to use the AH to sell off the remainder if they bought a full stack.
Though I'd agree it seems a bit strange that such a trick works with BC mats, since the demand for 'just enough' supplies would seem to be limited.

Anonymous said...

"I asked him today and he just said "7g is the price I've seen them go for". Tryed to tell him he could sell em at 12g aswell, but he didnt seem to care."

Basically, what that guy was trying to say was "Mine are selling now and I'm making sure yours aren't, looks like I lowered the market price." Given that 7g happens to be the price he's selling for.

In other words, he wasn't justifying his reason, he was gloating over you not being able to sell. He has zero reason to care.

Bristal said...

I hope you're right about furs. Since you posted last week, I've been buying all arctic furs available <30G. I've never invested like this in the AH before. I'm hoping that the price will jump to 50G. I want a PHAT payday. But it all makes me a bit nervous...

Anthony, New Zealand said...

@ Bristal

Buying up items you hope to sell later for a profit havign done nothing with them at all is as close as the AH comes to the IRL sharemarket, in which case the same rule of investing applies.

Never invest money you cant afford to lose. Since you are taking a risk, it means that you may lose. If you are nervous, perhaps you have invested as much as/ more than you can afford.

On my server I have noticed lately that Monarch Topaz gems sometimes get listed for about 50% of their nominal AH value. I could buy them and relist them at 75 - 90%, and hopefully make a phat profit. But before I do that Im doing some research over time to see if the 50% value is genuine, or if some people are listing at inflated prices to make the lower percentage seem better than it really is. As Sydera said, gevlon is trying to teach us how to think like business people, not simply giving us tips for us to follow mindlessly.

Gevlon, this week Im on course for 2,500 g in a week for the first time ever. While I know that others here will have performed far better, I again want to thank you for the tips that have seen me go from a poverty-stricken M & S to at least a passable money man. :-)

Dan said...


I have a theory to why the sudden surge in availability. People have finally stocked up on a sufficient supply of enchanting materials in anticipation of their use come 3.1. Now they're selling the rest. It could also be that they're simply clearing out such stock.

Lakland said...
This comment has been removed by the author.
Koberek said...

Gevlon, just started reading your blog last month, loving it.

I have been looking at the price of ore. 2 Titanium ore have been listed much lower than titanium bars. Might be a fluke by someone undercutting everyone, but I bought up tons of ore, smelted it, and then listed it in AH as 3bar stacks. I started selling these things like hotcakes. Each to different buyers. Made about 300gold in 10minutes of work.

Also bought up mats for Skyflare diamonds. Mats cost 14gold, sold each for 23gold each. The kicker is that the alchemist is a friend (will not accept tips) also i gave him mats for 20 and his alchemy popped out an extra 5. Sold 25 in 24 hours for 23gold each.

I am saving up my jewelcrafting tokens to get a few more meta gems utilizing skyflare diamonds. They are selling anywhere from 30-50gold each with little competition.

Just a few things I have been trying on top of beltbuckles.