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Showing posts from April, 2013

Thoughts on Pricing ilevel 502 Reborn Weapons

Blacksmiths have had time to get their 30 Lightning Steel Ingot, and the 502 Reborn Weapons have finally started to hit the market (I'm still 1 CD short).  If you're unfamiliar with them, check out this past post I did on them.   The big question on everyone's mind (at least everyone with a Blacksmith) is "what kind of price can I actually get for these?"  Right now the weapons are hovering around 70k average across servers according to TUJ, which in my opinion is a bit higher than most people will be willing purchase it for.  Let's take a look at some of the facts.

Know Your Market
The person purchasing this weapon is purchasing it for one of two reasons.  Either they want the ilevel boost on an alt, or they want to use it for transmog, simple as that.  Most mains have been in ToT on LFR for at least a few weeks now, and probably already have (at least) 502 weapons.  Aside from those with absolutely disposable income, most people won't pay 70k for such an…

Phat's Weekly Lewt Review 4/24

So at the end of this week I'm at a liquid total of 2,416,845g, an increase of 83k!

Inspiration from Stupidity
So I did something incredibly stupid this week, and I mean legendarily dumb.  I was going to post my lists for organizing the rare cut gems by a common search term, and wanted to try to go through the process on a fresh shopping list.  You can probably see where this is going.  So long story short I found myself having to remake my posting lists from scratch (yes I know the TSM Application has a backup function, mine wasn't setup correctly).  So I did and was able to get about 99% of my things back into their respective groups pretty fast, the biggest pain being the transmog gear, but I'm at the point where I can tell if it's good by the name, not just the hover over from Mogit now, so that helped (I've already found a few things mispriced).

Reworking TSM
That being said, I have decided to rework the prices on some of my transmog gear.  I had been posting …

Market Manipulation: Drunken Mogul Style

Today's post is a guest post written by GoblinRaset the author of the WoW gold making blog The Drunken Mogul.  Be sure to check out his blog when you're done reading his post, there's more great information where this came from!

Today we are going to discuss how to manipulate some markets, via creating a floor for mat prices and creating a ceiling for the crafted items. Also, quick warning this post will involve some maths, so stick with me and hopefully it will all make sense. Now, on with the maths.
Creating mat price floor:
First, before we can create a floor price for mats, we must determine our price ceiling for mats. Meaning, we figure out, 'What is the maximum price I am happy/willing to pay for a given mat?'. In order to do this we must consult some resources and use our own personal knowledge of the markets to find this magic number. For doing this I like to use theunderminejournal.comand, for getting a general sense of how these items are/have …

Phat's Weekly Review 4/17

Before I start I just want to give a quick shout out to Jim from Power Word: Gold for being such a good sport about my last post.  Just to clarify for some readers, there's no bad blood between us, Jim is one of the reasons I'm in gold making to begin with, I just disagreed with his article and wrote a counter argument.  Now for the review!

This week I'm up to 2.33 million in liquid gold, an increase of 52k over last week.  Not the best I've ever done, but take a look at my Weekly TSM Summary:

I spent 58k this week, which I'm glad to see.  My problem is (I think at least) that I'm not processing the mass of Ghost Iron Bars that I've been investing in recently.  I've been getting them for the price of ore, so roughly half their mat cost.  I don't ask why, spoke with the guy last night and he said he enjoys farming, well hey, I enjoy not farming so we're a good fit!  Now I just need to convince my Blacksmith to set up TSM...that's a wh…

"Proof of Jeweled Onyx Panther Duping"

It's only been 7 months since Jim  did his last post using The Undermine Journal graphs as "evidence" for duping, and he's done it again.  First let me start by linking you to my response from his previous claim, well worth the read, one of my favorite posts I've ever written.

Now I will not be playing the role of a Blizzard fanboy and say these items are not being duplicated, I very much think they are.  I just believe that Jim's argument is not compelling, and I know that I definitely would not want him to be my lawyer based on his definition of proof.  All he provides is circumstantial evidence at best, while throwing the word proof around as if it's meaningless.

The Undermine Journal
Jim uses graphs from TUJ to highlight a part of his argument.  Below is the graph of the Jeweled Onyx Panther in question:

His point is that the EU one has some strange fluctuations within a time period.  This is true, the price hovers around 70k during t…

Finding Suppliers

Lately I've been spending time in WoWProfitz's IRC Channel, and a frequent user, GoblinRaset suggested I do a post on how I find suppliers who farm herbs/ore, and I thought it would be a great topic!  Also, he just started a gold blog called The Drunken Mogul, and he's already got some great posts, be sure to check it out! Also, feel free to join us in IRC!

Getting Suppliers
What I've been doing myself  is pretty simple, and something that you might do when you're sitting in trade.  Usually when I'm sitting in /2 it's because I'm reposting gear from my transmog toon, and once in a while (especially during primetime) I'll see someone selling GIO for a ridiculously low price, and I'll send them a tell saying I'll buy everything they have.  This is usually what sparks their attention.  You made their lives easier because:
You bought their item quickYou bought it all This instant gratification is what the "human"* farmer wants.  He just …

Phat's Weekly Review: 4/9

This week has been an odd one.  I invested a lot this week, and for the first time in 2 months I've made less than 50k in a week, coming in at +27k overall this week.

Heavy Investing
This week I invested.  A lot.

As you can see, this week I have over 80k invested.  I sank about 20k into the Springstrider mounts, which I think I will start posting around June, when players come back who don't normally play during the school year.  I figure I might as well invest my gold in some long term prospects, rather than having it sit in my pockets doing nothing for me!

I also bought over 200 Golden Lotus this week because Transmuting the rare gems was cheaper than prospecting them from the ore, and I really needed to restock.  I also purchased a ton of Black and White Trillium Ore because it was well below market average for my server.  Quite frankly, I'd rather have my entire 2 million tied up in things making money than have the 2 million liquid, but it's pretty hard to do, a…

Primordial Saronite

This is a post for Cold's Gold Blogging Carnival, which will be live on the 11th of this month.  The topic is: "Name one of your historically profitable markets that is now defunct and what can we learn from that old market." Be sure to check his site on the 11th for other great entries!  

The Primordial Saronite market is one that I dealt exclusively in during my ICC days when I was selling gold.  Those days are past me but it taught me a valuable tool, of optimizing unneeded "badges" for surplus income.

Crafting Material
For those of you who are unfamiliar with Primordial Saronite, it was a crafting material used to craft high end epics during ICC, and was available for purchase for Emblem of Frost.  These are equivalent to your modern day Valor, and had a cap as to weekly limit, but I wasn't going to let that stop me!  I had 3 Max level characters whom I'd grind out maximum dungeon cap on Emblems daily to buy as many of these as possible.   I'd t…

Market Manipulation

The topic this week was sent in for last week's post, but I had a busy week, and didn't feel as if I'd have adequate time to address the subject with the time I had to write it so I put it off until this week.  If you're interested in submitting a topic for next week's Reader Request Phriday, click here.

This week's topic was sent in by Brent99.  He's currently at ~4 million gold, and has been playing WoW since a year after it's release.  He suggested the topic of Market Manipulation, because he said he rarely sees bloggers address the topic of purchasing, and I agree, so without further ado,

Market Manipulation
First of all I'm going to define what market manipulation is, by doing something that is sure to make any English teacher cringe, quoting Wikipedia.  Market manipulation is

"Transactions which create an artificial price or maintain an artificial price for a tradeable security."

As you can see we do this pretty often in WoW in order …

Phat's Weekly Lewt Review: 4/3

This week was a pretty laid back one for me.  After last week, pushing to hit 2 million, I had a busy weekend, and I haven't been keeping up on my crafting.  I might keep with this pattern, I'm in a gold making sort of slump, not particularly interested in pushing my goldmaking to the utmost limit right now, I'd rather catch up on other things in game.  All that aside, I still made over 125k this week, up to a total of 2,253,665g, a great spot considering the lack of effort!

Return of Glyph Competition
This week took an interesting turn when a familiar (but long inactive) face came back to my glyph market.  A sight of exasperation was let out when I saw they were back.  They are one of the folks who will camp the AH to no end, and before their return, the glyph market had been less and less cutthroat (post and leave it) for a while, but I expect that to change if they're back for good.  This means one of two things: either I'm going to give up glyphs all together, o…