Thursday, 17 May 2012

Already a Millionaire

A brief History
I’ve been playing WoW since late Vanilla. It wasn’t until WotLK that I got into the Auction house in a serious way.  I made my first million gold in early Cataclysm and at last calculation; I’m half way to my second million.

I made my first million in just the Glyph market. I have now diversified into multiple markets.

My toons include the following professions:
Jewel Crafting (JC) & Enchanting
Herb & Inscription
Mining & Blacksmithing (BS)
Alchemy & to be decided

Mining, JC & Enchanting have great synergy.  In my opinion this combination is the best to keep costs low. Throw in a Transmutation Alchemy master and you have serious AH control.

My Philosophy
Diversification is my key to AH. Diversification is the practice of spreading risk over multiple markets.

I find there are several benefits to this methodology.
1.       Selling a limited selection of items with the best return of multiple Professions is better than focusing on one Profession and fighting for the last 2 gold.
2.        A Goblin competitor will not usually crash prices of a particular market if they don’t feel threatened.
3.       Most competition on the AH don’t even know what their breakeven point is when listing items for sale. They just list for 1silver less than the last person. Enchanting is often guilty of this.
4.       Diversification offers the most cost effective way for reducing the material cost of items used in the manufacturing process.

Why Blog
Share my thoughts on WoW in general and work through some scenarios and trading strategies.

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