Monday, June 7

Felling Better about Gold


I have not given up on the gold making front even though I felt like I was going backwards the entire time. That is until about 3 or 4 days ago, I have started feeling like maybe I am doing something right finally. It pretty much started with inscription. Seeing all those pretty numbers coming in is nice and after reviewing how I price them they are all profit. I also did the same with jewelcrafting and that is starting to make me happy as well.

I plan to go over how I reviewed my prices and so you can see how I did it and criticize as fits. The basics are that I decided what I was willing to pay for the raw materials and then figured a 10% profit in order to set my minimum sale price. So with glyphs I went and figured that the market price for Ink of the Sea is about 2g 85s. I only want to pay 70% of that so that means I will only pay 2g for IotS. Now one milling of Northerd herbs will give a minimum of 0ne IotS, so I only pay 2g for 5 herbs of any kind. This means I have see my price at 40s per herb and I buy what I can under that price. I have set my minimum to 2g75s to post glyphs and not all of them post but I just don't make more of those until they do but of the ones that do post I am selling most at over 3g actually. A few have sold for way more than that which to me is crazy but I guess people feel they need it now so they pay for it which I love. I have done this same thing with epic gems as well. I need to start looking at minimum prices for titanium as well because I can use the titanium dust still for more cuts which will make epic gems easier to work with.

So I feel after that wall of text I have come a little ways but I know I still have a long ways to go. I need to work on getting tailoring and enchanting up and running with enchanting being much scarier to tackle. I have also spent a lot of gold recently on raw mats for inscription and jewelcrafting but I am sure not that I can make that back over time. It will also allow me to do all the glyphs because up til now I have only been doing ones that are cookie cutter for most classes. I only have 5 cuts for epic gems that I have been using but they are I feel the key ones for most specs. The big key to moving forward will be to get comfortable with the market and start actually watching it instead of just posting at my price and hoping for sales. With a steady income that should get easier though.

/over and out geeves

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