Tuesday, February 5, 2013

Phat's Weekly Lewt Review 2/5

This has been an interesting week, I've spent a TON of gold prepping for DMF as I had been putting off getting a large supply of herbs, but I was able to get a decent amount of cheap herbs for my purposes, but needed about 50 cards worth between my 3 Scribes.  This is what my incomes and outcomes look like on the Horde side:


As you can see, although I had about 110k worth of income this week, I spent almost 80k.  It's not a bad week, I will make it up with the cards for the next few weeks.

Ghost Iron Resolve
With all the 5.2 buzz going around and talk of people stockpiling, I'm in the skeptic camp to say the very least.  Everyone and their grandma has a stockpile going right now, which means there will not be an overwhelming demand come 5.2 release (weeks from now still).  In fact on my server this week, a player has been attempting (fairly successfully) to reset the Ghost Iron Ore market.

I'm on a small server and when I say small, I mean bots don't bother farming on this server because they've done the calculations and don't want to waste their time.  Our ore market is controlled by those who actually go out and farm, and there's quite a few of them.  Someone on my server has recently seen this as an opportunity.  GIO usually hovers around 100g/stack on my server, and I aim to buy in bulk at 60g/stack.  This player has been buying everything on the AH and resetting the price to 200g/stack.  According to a reliable miner on my server, they are actually selling at this price.  Who would buy at such a price point is beyond me, but in theory if you sold half your product then the rest is free GIO that you didn't have to farm for, to do with as you please.

I have taken it into my own hands (as it has now become inconvenient for me) to start stockpiling some GIO just to use to deeply undercut them.  Right now I'm undercutting 200 stacks at 160g on a 48 hour auction, and I actually sold 20 stacks at that price!  I'm hoping to drive this person out of the market because it's really messing with my profit margins, and it's unappreciated.  I have an ore source, but like I said it's a limited commodity on my server, and my source just doesn't supply enough for me to consume.  Hopefully this plays out in my favor in the long run.

Overall Summary
This week was pretty stale, made gold from the standards, gems, glyphs, trinkets, PvP gear, etc, etc.  I've been taking time away from gold making to work on my gear, and do the Dominance Point dailies, which I have been enjoying to my surprise.  Got the legendary gem, but have no weapon to socket it in (after 6 runs).  Hopefully this week will bring me some luck!

Well that's about it for now, I leave you with this question: What would you do if you were in my shoes with the GIO situation?

Cheers,

Phat Lewts

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

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