How To Make Gold in WoW

Psychology plays a huge role in how someone plays the auction house.   There is a mental angle to being able to work the system.  How you list items,  resell items,  flip product and advertise your trade items is determined on how you set up your mental processes.

Planning how you present your item and how you manipulate the auction house system determines exactly your sales options.  Here are a few types of processes you will find players using:

The Home Run seller posts up auctions at the highest prices they can imagine.   Their goal is to get someone who doesn't understand how to do a basic search on the auction house.  So they see an item they really want,  pay the cost of the item and then never realize that they have overpaid for an item.  This many times skews the aggregator websites such as Theunderminejournal.com.   Already high priced items end up becoming overpriced items if a gold goblin doesn't research more than one place.

The Grinder seller will continually post and reset auctions as they are undercut.   So the auction poster will list 10 of their Bold Inferno Rubies hoping to sell one or two at a time.   Rechecking to see if they are undercut,  the player will repost undercutting the lowest posted item.  The idea is to grind as much profit as possible out of an item.  Most players end up falling into this category,  especially in the Jewelcrafting and Enchanting professions. Grinding out profits is the base for many players goblin fortunes.

A minimizer will sell their product at the smallest amount to empty as fast as possible.  Many times this type of seller will undercut everyone by 50%,  figuring that they will pocket their profits quickly with less hassle.  This again tends to skew the system, especially with semi automated posters.   Auction House players find this type of seller the most annoying.   The entire inscription/glyph profession on many servers crashed due to posting of glyphs at just above how much production cost.  Causing many players to abandon the profession for other fertile soil. 

The clueless seller has no idea how much a product is worth.   They do not have or take the time to research how much something is worth.  So they will listen to what "a friend" suggested or what rumor says it sold for.   Usually they end up holding onto the product and resetting the auction time and time again till a kind soul,  or reality explains to them that the price they are asking for makes the item non sellable.

There are other seller psychologies to be used.  Even a combination of all of these options can be used, the important part is to identify not only your own patterns.  But also identifying your competition to use their strengths and weaknesses against them.

Join me and prepare to crush Pandaria!

Blizzard has announced the different events they are planning during Gamescon 2012,  including the world first playing of the intro to Mists of Pandaria.

With each tidbit of information that is offered,  the opening to the gates to Pandaria comes closer and closer.  And so closing of sales routes and limiting inventory will become much more important.

I've been talking more and more about how collecting inventory to resell at the beginning of the new expansion will be more important.  But just as important will be the limiting of production of items that will not sell between now and the beginning of MOP.

Two options are presented the closer that we get to the panda invasion.  You can begin to look to turn around inventory at reduced rates.   It is important to make sure that you are keeping a close eye on what is and isn't selling.

Take the Extreme Impact Hole Puncher that I have sold consistently since it's introduction.

Production costs have always hovered around the 3-4k (less if I produce the items on alts) and sold at the start easily for 11k+.   The closer that MOP comes,  the lower I will drop the prices to make sure that I do not get caught up with extra inventory.

Jewelcrafting will find this is very important.   The lower blue gems (Nightstones etc). will still be important for players rolling new jewelcrafters.  Other items such as Inferno Rubies will continue to lose value due to lack of demand.   Inventory control will give you both added space for your investment items,  and generate quick sales without the fear of losses in the future.

Closing all sales and liquidating inventory is possible at this point.  This would guarantee no losses but also could limit the continual gold stream that is still available.   Knowing your markets and selling to them is going to be the driving force of your continued gold goblin empire.

Join me and prepare to crush Pandaria!