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Gold Making Mistake

This is for Day 12 of Nev's 20 Days of Goldmaking.  Interested in reading other's views on the topics?  Nev made a post with all the participants here.  Check it out, there's some really great stuff!

What was your biggest 'oops' moment?

I've been having a really hard time coming up with my biggest 'oops' moment.  I don't mean to say I never make mistakes or bad calls buying items to resell or investing in something, but it's hard pinning down the worst one.

Battered Hilt Mishap
I'll be the first to admit that the BMAH has been the downfall of many of my gold coins.  As of this point I've spent at least 900k on BMAH items.  I tried to flip 2 patterns in the beginning of MoP before people figured out where the BMAH was, bought both for 20k, sold one for 32k, the other for 9.5k so basically broke even.  In my Weekly Review from 12/28 I came to the realization that I had accidentally purchased a Battered Hilt for 15k to try to sell on my Blood Elf.  If you're as observant as I was you'll not have realized that I linked the Alliance version of the Hilt, purchased on my Horde character.  /facepalm.

All's Well That Ends Well
On that post I also noted that I put in a ticket and I got a resounding "no" as far as getting a refund.  Faid in her infinite wisdom suggested I ticket it again, and I did.  The second GM issued me a refund and I was really excited.  I may not have actually lost any gold from this but lesson learned, check faction before purchasing from the BMAH.

Cheers,

Phat Lewts

If you like my blog follow me on twitter, @PhatLewtsGold!!

Comments

  1. Mine is this: When i was a brand-new newb, it took me a while to become brave enough to start selling things on the ah. When I did, I would list the item without a buyout price and use the default opening bid. lol Nothing would sell - most WoW players just want to buy out listings. Eventually, a kind soul sent me in-game mail explaining to put a buy out price and to charge higher prices by pricing things according to the item level. For example, a level 32 item she suggested to list a buyout price as 3 gold, 20 silver. I followed her advice and finally started really selling things.

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  2. My biggest error was presuming the BMAH behaved like eBay... where you place a MAXIMUM bid and the final price inches toward that mark...

    I also had an addon the fouled up the UI at the BMAH and ended up bidding 55k each for a BS pattern (I wasn't a BS), and the mail pvp belt I actually wanted but figured I'd only pay 20k for...

    Some lessons are learned the hard way.

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Cheers,

Phat Lewts