Wednesday, May 28, 2014

Gold Making Invitational Days 16-27

Days 1-5
Days 6-15

Today I'm going to post the rest of the days of the competition, with a wrap up to follow tomorrow. Wanted to include it in this post, but it's taking me longer than expected to write, so I figured I'd throw the last chunk of days out for y'all to read, and get to the

Day 16
Made 762g in the overnight, reposted auctions in the morning quick. I got Crafty Vermilion Onyx (Exp/Crit) for my daily cut, not too bad! I made a bunch of those, reset a few other cuts, as well as some enchants and shoulder enchants (got ~3k by the night). Doing quite well with that. There are ~2 weeks left so I'm going to attempt to start building up capital, ended the night with over 1k, but I still will not hesitate to spend if an opportunity presents itself.

Start: 1,144g
End: 1,312g
Auctions: 64,102g

Day 17
I made ~500g in the overnight, did not sell a single item I reset last night, but just a few stacks of Savage Leather. Did a cancel/repost in the morning, and a Primordial Ruby research, getting Bold. Not the best case scenario, but they were starting to pile up from prospecting. Bought out a ton of auctions after I made 3k worth of sales during the day. A 10 stack of Potion of luck sold for 44g after tax because I had it in a generic market value/global group, luckily it was a (very slight) profit of <2g for each, but still a situation I'd love to avoid in the future. Made some Primal Diamonds but exhausted my supply of Golden Lotus making them, will have to keep my eye out for more.

Start: 1,638g
End: 839g
Auctions: 71,693g

Day 18
Nothing big to note today. Got literally the worst cut I could imagine, Splendid (parry/resil). Reset a few markets again, only posted three maybe four times. Sold 1 uber blue for a nice profit on the day, but did not have a lot of time to look at my markets and buy/sell.

Start: 3,801g
End: 5,274g
Auctions: 70,293g

Day 19
Terrible night in sales, all of 100g made overnight. I got Fierce Vermilion Onyx as my research cut (Str/Haste) so a nice discovery for today. I made ~10k throughout the day. I was able to price fix Belt Buckles, buying 5 for just under 300 each and selling all but one for 600g. So a productive day, ending with around 7k, and I'm hoping to dump it into mats. With slightly more than a week left I'm going to (try to) stop spending so "recklessly". At this point in the competition, unlike normal gold making, I have to start actually building up capital instead of reinvesting as much as I possibly can, which has been my strategy throughout. It's going to be hard to break that habit, and I'm not sure that I can. For example I bought ~23 stacks of Savage Leather to completely control the market, marking up to 300% of the original purchase price. I sold quite a few stacks of Frostweave today though from doing similar, and my reinvestments and flipping today added up to an additional 20,000g worth of AH value, so a very productive day I'd say, for being down a net of 2000 from where I started (although I did indeed spend more than that)!

Start: 5,369g
End: 3,527g
Auctions: 97,913g

Day 20
3k in the overnight, spent on some elusive cheap Tiger Opal and Ores. Due to it being mothers day, I ended up only posting 2 times throughout the day, and ended up around 5k at the end of the night, reinvesting the ~5k that I made. It's getting to the point that I really need to start buckling down and stop purchasing so much. I start to get agida if I don't have my gold invested in something. It may end up hurting me in the long run in this case though, as I may not be able to flip all that I buy.

Start: 4,379g
End: 5,258g
Auctions: 117,289g

Day 21
Made only a couple hundred in the overnight, starting with 5,309g after reposting and doing some resets. Just for a reference point, I decided to Screenshot all the different cuts of gems I'm currently selling:

So roughly I've got about 22 different cuts at the time being for sale, with well over half of them being gems I'm flipping. My best seller by far has been Reckless Vermilion Onyx. It both sells for a high price and sells frequently. I was able to do quite a few post scans today, but as I predicted I spent too much and ended down for the day.

Start: 5,309g
End: 2,407g
Auctions: 117,083g

Day 22
Started with 4337 today, up about 2k from the overnight. I invested heavily in Ghost Iron Bars and Kyparite, so heavily I was down to just 70g. Ghost Iron Bars were going for far less than 2x Ghost Iron Ore for the first time I've seen, so I bought them all. I transmuted all of them to Trillium Bars adding 10g worth of value to every 10 bars. From my spreadsheet Living Steel have a 180g profit right now (accounting for procs), so if I could get some xmute alchemists, or even regular alchemists to transmute for 50g, I could be easily making 100g+ per 6 Trillium Bars. As is I'm selling them as Trillium Bars in stacks of 1 which no one else is currently doing on the AH.

Start: 4,337g
End: 5,983g
Auctions: 112,603g

Day 23
Learned the other moot Primordial Cut. Looking for Brilliant at this point. Have a few useful VO cuts, but missing a few I'd prefer. I could have someone else cut them for me for a tip though, and probably should have had that from the get go. That's something I did in my competition with Selltacular that paid off brilliantly. Want that Brilliant cut though, then maybe a few Imperial Amethyst cuts. Managed to repost a few times today, but haven't made the returns I'm looking for. I'm truthfully a bit disappointed at this point in the competition to have so little gold. Perhaps I over invested, or under invested, but my totals are not where I want them to be. Could just be the market as well. The gem markets seem not to be as active as other realms, and perhaps too much competition. All fair prices though.

Flipped a few more items today, have over 4k worth of Golden Lotus on Hand. 90 Trillium Bars, getting Xmuters for Living Steel as it sells quickly on this realm. Honestly I think it's the realm that's disappointing both in sale speeds and prices. Haven't done great in any market to this point. Feel like if I had more/different professions I could swing a better profit.

I've also had this one guy constantly undercutting me today, but only in certain gems. They're undercutting by a copper each in a few key cuts, not sure if they're using TSM or not, but regardless it's cutting into my margins during a pivotal time in my campaign. That on top of the API being down is really screwing with my methods. Hope it's back up soon, it's been down 2 days already!

Start: 7,522g
End: 9,280g
Auctions: 121,903g

Day 24
Finally learned the Brilliant cut, and this moron comes along in the AH is undercutting the Primordial Ruby cuts from 100g to 60g. As far as I know he only has Mining/JC, but it's very possible he has an alt with Alchemy meaning that the gems are only costing him ~30g, and can theoretically do this forever. This is of course also what they cost me but I'm trying to maximize profits here man! By buying out his auctions I'm only reinforcing his stupidity, and he's posting even more auctions at a time, so it's high time that I stop doing that. I've been going for the long term power play on a realm where my goal is to maximize short term profits, not long term. He's in trade chat right now saying he has guild bank tabs full of them. Great.

I need to start thinking about liquidifying my assets and the best way to do that. Of course from the shuffle, uncommon gems have been piling up, and I need to find a proper avenue to dispose of them (should have done this earlier). I decided to craft some rings/necks and see how they sell. If I get a few sales, I'll continue, probably just marking up the blues and vendoring greens. Threw them all in the AH for a round to see how they do.

Start: 9,483g
End: 8,350g
Auctions: 138,200g

Day 25
Heading into the last weekend of the competition, I must say that I'm much lower than I expected to be. I learned a lot about this particular server though, especially in getting burned yesterday. The guy who had been posting all of those Primordial Rubies for cheap yesterday didn't even play today, so  I was able to reset the market effectively today to double what he was charging. Invested a lot, which I keep telling myself not to do, and I'm currently a lot lower than I had expected.

Start: 10,202g
End: 11,019g
Auctions: 140,318g

Day 26
Heading into the homestretch of this competition, I must say I am pretty disappointed with the amount of capital I was able to kick up. Much AFK time in this last few days is also going to hurt my gold per hour, but I pretty much let that ship sail by leveling to 80. Again, a long term strategy that'd be great for sure, but for short term, it may not have been the right call.

Start: 12,661g
End: 19,615g
Auctions: 139,959g

 Day 27
Getting down to the wire, I made just about 4k in the overnight, putting me at 23,642g! Probably one of the more diverse overnight sales I've had selling a bit of almost every market I'm in. Keeping auctions cheap and up the best I can, running cancel scans and reposting as much as humanly possible. It's crunch time.

Start: 23,642g
End: 28,396g
Auctions: 146,302g

The last couple days I was not able to keep a log, as I was getting ready to move cross country, so I kind of lumped the last 3 days together. I'm going to do a separate post tomorrow (still working on it at the moment) with a summary attached as well. Thanks for reading, and if you want to catch up on the other days, links are below.

Days 1-5
Days 6-15 

Phat Lewts


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