Before I start with this post I just wanted to take some time to point to a recent post by Stede called Unprecedented. In this article Stede advocates for stockpiling for 5.4, and if you're starting to think about 5.4 this is a great place to start.
Me personally, I won't be stockpiling persay. My reasoning behind this is that I'm always stockpiling in excess when I can get good prices. Just in time crafting is a terrible way to manage your mats, I'd rather have too many mats at a dirt cheap price, than not enough with high prices, makes sense right? Right now for example I have 20 of each rare cut that I keep in stock, and I have 500+ stacks of Ghost Iron Ore waiting to be prospected. The only time I'll really slow down on this will be at the tail end of the expansion. Now back to your regularly scheduled post:
Gold Making Philosophy
I had the idea to write about this when GoblinRaset had been recently coming up with some crazy custom pricing schemes in TSM 2 to price Ghost Iron Ore, and I decided to give my mathematical perspective on what's my reasoning is here. Now creating profitable thresholds and fallbacks in TSM is a necessary evil of playing the auction house, but in the end, I personally am not going to put as much thought into it as GoblinRaset did.
Why? Simple. When it comes down to it, TSM_Auctioning is really just making 1 decision for each item based on your threshold and fallback: "Do I undercut it by 1 copper or not?" In the long run, no matter what your thresholds are, as long as they're profitable, you're going to end up posting the item 95% of the time or more. This is why I don't think too much about my thresholds. I pick some profitable numbers and run with them, because regardless, I'm just undercutting by 1 copper.
As time goes on, you're still going to make the same profits regardless, so why fuss. Just one more thing in life that's not worth the worry! Now I'm not saying that it is a bad thing to know your markets, quite the contrary, the better you know them the better it is for you. I'm just saying don't sweat the small stuff in this case, it's really not worth the time. That's my two cents. Here's a TL;DR:
If you enjoy my blog follow me on twitter, @PhatLewtsGold!
Okay. You can probably call it a comeback in this case. I've been gone a long time. So if you follow my Twitter you'll know I recent...
Yes, that long awaited moment is here! I'm officially releasing my new (and improved) TSM shopping lists for transmog gear. You can find...
If you want up to date price sources without tedious manual scans of the AH, the TSM App is the go to for complete data. The app pulls avera...
I haven't done a weekly review in a while now, and I stopped because I felt they were getting a bit repetitive, but I have new/hopefully...