Greedy Goblin

Sunday, April 19, 2009

Weekly report

You most probably are bored to death by my weekly reports. Copy&paste from last week, 10K income.

Well, this week was anything but boring. At first, the growth was 27K from last week. The reason was obviously 3.1 and dual specs. The glyph demand was larger than I could ever hope for. My carefully created ink deposits depleted on the first day. Luckily dumb people sold herbs and inks on the old price, so I could keep on mass-producing. Every day I cancelled my auctions, checked what's missing and relisted all. "All" means 1000+ glyphs. I had serius competition, (on Friday evening there were 3500 glyphs listed on AH, only 1000 mine), so prices stayed where they were, maybe some glyphs elevated a bit.

I got 2 books of glyph mastery, one for 1000G, and one was a gift (don't ask). I learned the gift one, getting glyph of soul link. I sold some for 50G with no competition. I'm trying to sell the other book for profit, but keep getting undercutted.

I started to sell my 3.1 investments, all with small losses. Nothing increased their prices. Granted, they lost much less than the average items.

Besides the glyph insanity, I created my dual specs (-1K). Besides my rejuvenation-heavy resto talent, I have a holy pally talent too (glyphs missing yet, as no WG and nourish available)!

I don't know how long the glyph rush will last. I'm afraid, it will be over very soon.


Anonymous said...

Gratz Gevlon on the strong showing this week. I went very hard this past week, but like you was selling many investments at a slight loss. Only Frost Lotuses and (of course) glyphs sold higher than before the patch. Arctic Fur, Frozen Orbs, gems (cut and uncut), ore, herbs, fish, etc., all went down in price.

But I'm raiding full-time now, so I want to finish the race to gold cap and stop playing the AH. I hit 193K today, fully 14K behind you, but I did have a 46.6K week.

I don't find your business reports boring at all, and I look forward to them. Although I miss your breakdowns of where your money is coming from (pets, bags, glyphs, crystalized fire, etc)

argon said...

The glyph business seems to be cooling down on my server, from my informal checking of prices, except for the new glyphs, some of which are going for 150-250 gold.

The prices of the glyph books on the AH are rapidly falling. The first few days they were up there for 4k, but now down to around 1k. I don't know if that reflects cooling demand, increasing supply (I read that Blizzard upped the drop rate), or just sellers becoming more realistic in their pricing.

chunky said...

GZ on this huge profit but i have a question,
do you buy all the herbs u use to make inks at the ah or do you just trade the ink of the sea for the inks needed.
and i dont find your reports boring btw

Gevlon said...

@Chunky: both. I buy the inks what I can, but it's usually not enough, I have to mill herbs too.

Dan said...

I too greatly appreciate your business reports Gav. I have personally made close to 12,000g since Tuesday, not bad considering very stiff competition in the glyph business.

Anonymous said...

why do you sell your investments? I suppose it's mostly mats for the new BoE epics and those wont be crafted/sold in masses before in some weeks.

Anonymous said...

How do you see which glyphs are missing?

Anonymous said...

"why do you sell your investments? I suppose it's mostly mats for the new BoE epics and those wont be crafted/sold in masses before in some weeks."

i'm curious myself over this one - why are you liquidating? you've taken positions in the market, but the time is not favourable? The patterns that our 'investments' require surely are not dropping en masse to realise profits over the new demand?

People on my realm are still listing furs for falling prices - i'm assuming they're thinking the same thing. my realm hasn't got any of the new patterns for the furs and not enough new sets of legs are dropping for armour kits. So why liquidate?

Gevlon said...

The miracle of missing glyphs: they are not in the AH, aka "missing".

I'm selling my investments to cut the losses. The longer I wait, the more losses I'll have.

Anonymous said...

i'm on a smaller server nesingwary and its locked except for new characters. That means whoever transfered over to it during the free transfer period is on the server and that is it. During the patch we didn't really have a HUGE glyph rush, I guess we simply don't have enough people on the server, what has been selling though is the books and the new glyphs. If you can find a useful one its most likely yours alone(which means huge profits), our server still hasn't found the HFB glyph

Orange said...

"I'm selling my investments to cut the losses. The longer I wait, the more losses I'll have."

This may be an improper analysis. Many unexperience businessmen are unloading investments and naturally driving price down. The demand for these investments have not picked up (patterns not learned - so arctic fur demand is the same as before 3.1 right now, new arena/BG gear not yet available, etc.)

3.1 wasn't your typical patch where the changes took place immediately.

cloaknpoke said...

Ya I don't think selling off investments now is the right time either. I've been buying cheap materials because of impatient business men selling at lower than 3.1 prices. Arctic fur have gone as low as 35g per. I'm waiting to cash in at the right time which I think is coming in the next few weeks from now.

Saurial said...

I agree - one shouldn't be selling now, but BUYING.

The reason is because people are desperately needing money for dual spec, glyphs and raid repair costs. So they sell what they can to raid.

Eventually guilds will have Ulduar on farm, pugs will get new gear, crafting formulas will be available. THEN these mats will increase in demand.

These periods happen IRL too - the savvy trader who understands the market will expect this initial 'panic' stage and have enough assets to ride the storm, coming out the other side wealthier than before.

Carra said...

Made some gold by vendoring my glyphs. Buying one of those book of glyphs for 2000g seemed to have been a mistake. I figured if I'd sell 20 at 100g I'd be break even. But even though mine are the only one listed on the AH, none (well, 3) are selling.

Either people don't want to pay those prices or the shadowflame glyph is a niche pvp glyph for an underrepresented class... Got to have luck with the glyph you get.

Chris said...

The Book of Glyph Mastery is definitely a crap shoot. Some guildies bought them for around 1200g and got bad glyphs. I got a book for 1100g and got Glyph of Guardian Spirit, and I appear to be the only Alliance person with it, as I've yet to see any competition. 150g per, sold about 30 so far (day and a half). So, I've already tripled my investment.

Yay lottery!

Willowbear said...

The glyph book tactic was definitely a lottery game that grows less profitable as more books saturate the market.

It has been stated that with the advent of dual-specs there will be a bubble of glyph activity and then glyph sales will decline rapidly. But there is one thing to note about glyphs that I don't think has been pointed out yet. With the need for a lexicon of power removed people are free to change glyphs any time. I think this will produce a volume market for particular glyphs. And for those people that need triple or quadruple specs but are limited to two, re-glyphing gives them some flexibilty without respeccing.

The convenience of being able to re-glyph on the fly will be taken advantage of.

Lanora said...

We have one person on our server who took a serious investment cost and bought every single book and therefore is selling every glyph. I got lucky 3 manning HoL and had 3 book drops and since the other 2 were my friend and brother I got all 3. Out of those 3 one was the glyph of Life Tap which seems to be in extremely high demand. I've made ~4k gold from this glyph alone. Now the other guy has every single glyph and while some don't sell as well as others I would have to say he has probably made around 150k gold with a 60-80k gold investment.

(He got tired of me undercutting him on the life tap glyph so we both relisted for higher price his being at 75g mine at 60 so when mine sell out they buy his... so far mine haven't sold out yet.

Anonymous said...

I made a bunch of money buying glyph of living bomb from the alliance AH (where it was sold by 5 different scribes) and selling on the horde AH (where it wasn't yet known).

Buy for 80g, sell for 500g.

periodic said...

The glyphs are definitely a crapshoot right now. I ended up with Glyph of Soul Link too, which is a good glyph, but the population that would want it is small. This is unlike Glyph of Life Tap which PvE warlock should have.

The first few days there were almost no books around. They were going for 4k or so. By the weekend we were looking at 1-2k on my server. I'm expecting them to drop to 500g by next weekend. It looks like they seemed really rare the first few days, but right now we have about 15-20 posted on the AH and they aren't moving too fast.

I'll wait another week or two for the prices to settle down, then buy up books until I have the glyphs as a price point like 500g would be enough that I can make my money back in a few weeks even if the prices drop to 20g, as long as demand is reasonably stable.

I'm curious what the glyph market is going to do in the long run. I was also surprised to see gems selling low (my other large market) and I've already bought up more than I could sell over the weekend.

Frizzl said...

I purchased a couple books, got some very profitable glyphs and continued to roll my money into new books. In total I learned 15 of the new glyphs and made out with about 25k profit on top of all the new glyphs I can now supply to my guild for free. Eventually I'd like to learn all the new glyphs, and while I understand this isn't necessarily the way to maximize my profits, it was still enjoyable.

I also did the same thing as Anonymous two posts above here, and shuttled hundreds of these glyphs over to horde side where several hadn't been learned yet. My measly level 10 blood elf is now sitting at 10k gold with plans to shuttle some other items back over for double profits. Assuming you're able to park toons in org and the neutral AH, this type of arbitrage can be really profitable.