Evening,
I realized I ended my last post very abruptly and I will be coming back to it to fill in the parts I quite obviously left hanging. I need to get my thoughts on it more straightened out so that it doesn't get so out of control again.
As for today I wanted to give a bit of a gold update. Its going well but not so well. My epic gems are selling very well but I don't have the supply to keep this going and actually make gold. I am making around 10% gain per sale which is about 13 gold per gem but by time I use that to keep up my supply I am just spinning my wheels. I know I am missing something here and I am closer than I was a month ago to figuring out but I still don't have it and I infuriates me. On the other front of glyphs, this market had me excited at first and now I am down in the dumps about it. It was awesome to see sales but I have noticed that I am only profiting about 100 gold a day on these. I have made a few of every glyph to make sure I am not missing any that sell well at this point. I post twice a day now to but I am not see these thousands of gold people talk about. Only thing I can figure is that being on a high population server I am not able to deal with the sellers already built into the market. Either way this is depressing but I will defiantly stick with epic gems as they are selling well I just don't think I'm doing as well in them as I should be.
/exhales loudly
Showing posts with label gold. Show all posts
Showing posts with label gold. Show all posts
Thursday, June 10
Monday, June 7
Felling Better about Gold
Evening,
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
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
Monday, May 17
I just can't figure it out, grr!
Evening,
So I have been trying to get a gold making business going. Its not going so well for me. I have max enchanting, jewelcrafting and tailoring at the moment. I just got jewelcrafting up there so I don't really have any cuts yet. I am missing a few of the dropped enchants but that's due to my lack of raiding. But for the most part I have what should be a good foundation. But the gems are irritating me and enchanting is expensive to get working. I find selling the crap I pick up to work better for me so far.
Now every goblin I have read says the same thing. Farming is a waste of time and less profitable. Now in a sense this is entirely true but it is based off what you feel time is worth. For me some days I really enjoy just flying around looking for ore nodes. Other days I want to do other things and I cant even find the time for all the crafting process to make the things to sell. Maybe just having enough gold is where I will have to settle but it would be nice to have a surplus of it to do as I like. I just have not been able to find the niche that works for me.
So now I am trying to decide which direction to go with all of this. I suppose I could just level most of the useful professions on my toons and keep my cost down that way so that if need be I would only be paying for material cost. It would also help if I could refuse to loan money to my wife. Loan is a very lose word also as I am not getting back as much as I gave which is my fault for being to nice. All I really want is the tundra mount and when I get close I let someone borrow gold and am back to starting almost over again. I don't think I will ever get that darn mount.
/oh well, could be worse right
So I have been trying to get a gold making business going. Its not going so well for me. I have max enchanting, jewelcrafting and tailoring at the moment. I just got jewelcrafting up there so I don't really have any cuts yet. I am missing a few of the dropped enchants but that's due to my lack of raiding. But for the most part I have what should be a good foundation. But the gems are irritating me and enchanting is expensive to get working. I find selling the crap I pick up to work better for me so far.
Now every goblin I have read says the same thing. Farming is a waste of time and less profitable. Now in a sense this is entirely true but it is based off what you feel time is worth. For me some days I really enjoy just flying around looking for ore nodes. Other days I want to do other things and I cant even find the time for all the crafting process to make the things to sell. Maybe just having enough gold is where I will have to settle but it would be nice to have a surplus of it to do as I like. I just have not been able to find the niche that works for me.
So now I am trying to decide which direction to go with all of this. I suppose I could just level most of the useful professions on my toons and keep my cost down that way so that if need be I would only be paying for material cost. It would also help if I could refuse to loan money to my wife. Loan is a very lose word also as I am not getting back as much as I gave which is my fault for being to nice. All I really want is the tundra mount and when I get close I let someone borrow gold and am back to starting almost over again. I don't think I will ever get that darn mount.
/oh well, could be worse right
Wednesday, March 31
Plans Unfolding
Evening,
So I spent a night contemplating what all I need to do to get this idea off the ground and running. Had some great help with ideas and direction from some great people. And I believe I can work on getting some testing done this weekend.
One of the big hang ups I have had has been on the payment front. How much do you charge for this? And how do you go about getting that gold without constantly being ripped off and waisting time? And after some discussions I think I have to come to some conclusions that mostly make sense. In order to find an apporiate price I am going to offer my services for tips for a few weekends. See what others in the community feel this kind of service is worth to them. And after I have a price that would be fair for my server I could do something like half up front and the the rest after the session.
Another thing I was working out was how much time do you spend with someone that doesn't feel to long but is adequate to get the amount of information needed to the player. I had 20 minute intervals suggested and that feels like a really good number at the moment. Now of course time will tell as to weather that is enough or to much but I feel its a good place to start.
Lastly I wasn't sure how the player base would react to something like this. Would advertising in trade get me flamed to the point people would be afraid to contact me? The suggestion made to me on this was to start in Stormwind or Ironforge general chat. The idea behind this is that I'm not putting myself out to the majority of the asshats of the game. This is also a good place to get newer players just getting started and players that are not as comfortable. Now I am worried that going with a smaller area in this way will limit my reach to a point that I feel failure. I do believe that it may be the best place to start though. If there isn't enough reaction this way I can always expand outward which is easier then going smaller.
So in a nut shell I'm going to spend most of my weekend in Stormwind trying to sell my knowledge. I am going to be working for tips to try to determine if this is even a market and if it is how much this market is worth. Wish me luck and provide any advice you may have.
/starts wheels turning
So I spent a night contemplating what all I need to do to get this idea off the ground and running. Had some great help with ideas and direction from some great people. And I believe I can work on getting some testing done this weekend.
One of the big hang ups I have had has been on the payment front. How much do you charge for this? And how do you go about getting that gold without constantly being ripped off and waisting time? And after some discussions I think I have to come to some conclusions that mostly make sense. In order to find an apporiate price I am going to offer my services for tips for a few weekends. See what others in the community feel this kind of service is worth to them. And after I have a price that would be fair for my server I could do something like half up front and the the rest after the session.
Another thing I was working out was how much time do you spend with someone that doesn't feel to long but is adequate to get the amount of information needed to the player. I had 20 minute intervals suggested and that feels like a really good number at the moment. Now of course time will tell as to weather that is enough or to much but I feel its a good place to start.
Lastly I wasn't sure how the player base would react to something like this. Would advertising in trade get me flamed to the point people would be afraid to contact me? The suggestion made to me on this was to start in Stormwind or Ironforge general chat. The idea behind this is that I'm not putting myself out to the majority of the asshats of the game. This is also a good place to get newer players just getting started and players that are not as comfortable. Now I am worried that going with a smaller area in this way will limit my reach to a point that I feel failure. I do believe that it may be the best place to start though. If there isn't enough reaction this way I can always expand outward which is easier then going smaller.
So in a nut shell I'm going to spend most of my weekend in Stormwind trying to sell my knowledge. I am going to be working for tips to try to determine if this is even a market and if it is how much this market is worth. Wish me luck and provide any advice you may have.
/starts wheels turning
Tuesday, March 30
Going with the Flow
Evening,
So I haven't posted in quite some time because I haven't know what to post. I have been sort of treading water. Not real sure of what it is I want to do with my Warcraft characters or this blog. The little updates of what I am doing in game have felt empty so I have taken some time to kind see what it is I wanted to do. I have come up with part of an idea. It is not full realized yet but a work in progress and I want to share my journey with everyone. Now it may end up like a lot of things I do and shelved as a good idea for someone else. But if it gets to that I will share it.
So on to my idea. I have a love for researching information on the different classes in WoW and how to play them. I also have a desire to earn some gold so I can buy somethings I have wanted for a long time. The auction house thing just doesn't seem to fit me so I came up with a plan to do both at the same time. I am going to sell my knowledge and willingness to research for others for gold in game.
I haven't got all the kinks worked out yet. Need to figure out how much to charge and for how long to work with someone. Also have to decide how to handle the gold exchange so as not to get ripped off all the time. Trying to decide how much knowledge I want to sell. Do I want to sell information just to 80's looking for more DPS. Or do I want to cover leveling, healing, and tanking. I think I could and it would allow for more business but it may be better to start small and work into all that.
It should be a fun project as long as I can ignore all the haters who think they know it all and everyone else should already as well. As far as getting the word out there I think I will make a macro to put in trade. Right now it looks something like this
/2 Have low DPS? Can't keep those mobs off your healers? Can’t keep the tank alive? Getting made fun of in groups? Well your in luck! I can help with your woes! I can teach you what you need to know to shock others and top charts. PST for details.
Now it will need a little tweaking depending on what it is I really am looking to sell but that's the gist of it.
/relax brain it will all work out
So I haven't posted in quite some time because I haven't know what to post. I have been sort of treading water. Not real sure of what it is I want to do with my Warcraft characters or this blog. The little updates of what I am doing in game have felt empty so I have taken some time to kind see what it is I wanted to do. I have come up with part of an idea. It is not full realized yet but a work in progress and I want to share my journey with everyone. Now it may end up like a lot of things I do and shelved as a good idea for someone else. But if it gets to that I will share it.
So on to my idea. I have a love for researching information on the different classes in WoW and how to play them. I also have a desire to earn some gold so I can buy somethings I have wanted for a long time. The auction house thing just doesn't seem to fit me so I came up with a plan to do both at the same time. I am going to sell my knowledge and willingness to research for others for gold in game.
I haven't got all the kinks worked out yet. Need to figure out how much to charge and for how long to work with someone. Also have to decide how to handle the gold exchange so as not to get ripped off all the time. Trying to decide how much knowledge I want to sell. Do I want to sell information just to 80's looking for more DPS. Or do I want to cover leveling, healing, and tanking. I think I could and it would allow for more business but it may be better to start small and work into all that.
It should be a fun project as long as I can ignore all the haters who think they know it all and everyone else should already as well. As far as getting the word out there I think I will make a macro to put in trade. Right now it looks something like this
/2 Have low DPS? Can't keep those mobs off your healers? Can’t keep the tank alive? Getting made fun of in groups? Well your in luck! I can help with your woes! I can teach you what you need to know to shock others and top charts. PST for details.
Now it will need a little tweaking depending on what it is I really am looking to sell but that's the gist of it.
/relax brain it will all work out
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