Tuesday, November 17, 2009

Tips for a happy goblin

Okay, i suppose I should actually offer some useful advice. Well, nobody can really know your market.

So with that in mind.

1) Know what professions you have, get them to max level. For example inscription can make glyphs, cards, vellum, and has two cooldowns. All three areas can be profitable, and make sure to burn your CDs every day.

2) Know your market. I finally figured out what works best for time vs money in my market, which was completely different from my previous market. Every market has a profit for you somewhere.

3) Use tools like QA2, KTQ, etc. QA2 saves me TONS of time when its probably configed, much better than auctioneer for some purposes (but auc does so many things QA2 cant touch).

4) Keep probing! Look for new markets. The tried and true (ie saronite shuffle, glyphs), may or may not work on your server.

5) Know your mat prices! For example. For the longest time I thought, well the heck with snowfall, i'll just buy the stuff like goldclover and tandera's rose. But they dont give many snowfalls, and are about 80% of the cost of lichbloom/icethorn. Now that I actually use the snowfalls I can't keep them in stock long enough to make useful stuff. So icethorn/lichbloom is actually cheaper than the rest of the herbs. But not as plentiful, right. So guess what. Farm the other stuff from scholozar if you want to farm, and sell it on the AH. That's right, sell it. You can get the same amount of money (or very similiar) as the higher herbs, which are actually much more useful to you.

6) Undercutting. Do you need to be the lowest guy? Sometimes yes, but in hot markets you can go a few above, unless the guy at the bottom has 28 stacks.

7) Know your timing of market. Every market is cyclic. I looked at arctic fur prices saturday, they were 120g each. I looked at them again sunday morning, a few at 80g. Enough to make a leg armor and get 80g profit off it. Dont look once and see the market isn't profitable, this is a rookie mistake. Look for a few weeks. Know whos selling.

8) Is it a monopolized market? If so its not as profitable as other markets. You may have your work cut out for you if you want to enter that market. If it's a monopolier, friends that guy on each of your toons. As soon as he logs out, repost all your stuff.

9) Post often. For tight markets you are undercut within the hour. So don't bother listing for more than 12 hours, have a nice stack, just login, post using QA2, log out. It's just a few minutes. I estimate for every time I login and repost I make 100g. It has nothing to do with the length of posting merely the timing. Also definately post before, during, and after the busy period (6pm, 9pm, 12pm)

10) Look in trade, have deep pockets. This is something I learn every day. There is always a soruce of revenue in trade.

a) For example, the same guy who sold me furs for half the going rate is the same guy selling ilvl 200 epics at inflated prices. One is a good deal, the other not so much.

b) Some people sell epic gems by the bulk, or ti ore. I once spent 3000g on ti ore before 3.2 hit, in one blow (or was it less, i can't recall). Make sure you have enough space and deep enough pockets you that you can buy these opportunities. Last night someone was selling red epic gems for 125g x 7. I bought all 7, thats about 1000g. Alot of dough, but you make 50g per cut or so.

c) Mr Enchant leveler. I gave him 10g + vellum per enchant. He gets 15 skill points, I get 20g each in profit. We're both making out on the deal.

There is *always* someone in trade who just wants to get rid of stuff and wants cold hard cash right now. That's your sucker.

11) Speculation/Gambling (don't touch your seed corn). Now alot of goblins do speculating on the next patch,and that's what makes the real PVP game fun (which is the economics). But most of us have no clue what's really going to happen because we dont think like a herd. Somethings are really obvious, for example Ti ore in 3.2. But how many foresaw the glyph explosion in 3.1? And what about 3.3? The saronite - Ti bar CD is being removed. What will that do? This is gambling, folks. Don't spend all your money gambling then bitch that you have no capital. ALWAYS HAVE SEED CAPITAL. Without this, you can't do anything. You cant buy those great deals in trade. You can't buy your mats. For me this level is at least 5k.

12) Farmers. Great goblins have deals with farmers, to get lower prices than AH, and a reliable income stream.

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