Tuesday, May 14, 2013

It's Not Profitable on my Server

Today I'm going to write about one of the most common and equally most illogical arguments I see from people either new to gold making or new to a particular market - "It's not profitable on my server".

Reasoning
I honestly wish that people would just stop and think about what they're saying for a moment before making such a daft claim.  This is the assumption you're making about the seller when you say a market is not profitable on your server: the guy selling it is spending his own time to craft this plethora of items, all solely for the joy of losing gold.  As the saying goes "There's a method in the madness."  Just because you don't know how the market is profitable on your server does not mean that it isn't.

Research
Zerohour touched on this  in his most recent post (which is well worth the read), one of the most important and useful aspects to gold making is digging your heels in and actually learning for yourself about how something works.  If prices are lower than your calculated thresholds for a certain profession or flipping market, take a moment and check out The Undermine Journal's page for the base item(s), or the profession page.  Check out the fluctuations in price, know when mats are cheapest, and better yet, set up market notifications!  Both TUJ and Wowuction have email alerts, and utilizing these properly can be key to maximizing your profit potential.

If you are new to a market don't just assume it's some easy to master beast and that you understand all the aspects of it.  Read about the topic, learn about how other's maximize their profits, and figure you what you're doing wrong.  Find the happy medium that is your own personal method, and master it.

Dominating Markets
Once you've figured out how to craft at a profitable price, only half the battle is won.  I misleadingly named this section, because your goal is not to dominate the market, your goal is to partake in the market, and make sales, but don't have it in your mind that you need to be the cheapest all the time.  People could spend their lives in so called "undercutting wars" and not be a penny richer (in fact would probably be quite a few gold poorer) for it.  Post heavily on days that mater, reset days (Tuesdays or Wednesdays for US/EU) and the weekend.  These days see the biggest influx of player purchasing, and should see the greatest influx of your own crafted goods if at all possible.  Don't worry about dominating the market on a Monday afternoon, it's just not worth it compared to high volume days.  Save your reposting for high sale days as opposed to a pissing contest between you and your main competition.

Conclusion
Again let me reiterate, just because you don't know how a market is profitable, doesn't mean that it is not.  Do the legwork specific to your server, and you'll find that you will be able to make much more gold in the long run.

This week I was able to catch up on some gold making podcasts, and I have some recommendations for anyone who is interested.  Eviscerated had two great guest spots in the past weeks with Zerohour and Wowprofitz, be sure to give them a listen if you have the time, they're great interviews.  Also, GoblinRaset came out with a 2nd episode of the Happy Hour Roundtable Podcast, which can be found here.  I enjoy listening to these guys weekly, and I hope you do too.

Cheers,

Phat Lewts

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

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