Austerity Measures

After penning a begging letter to my competitor who’s been artificially holding the glyph market so low for a while now that there’s no longer any profit to be made in it, as I set out in my last post, more in hope of a reply than expectation; I received a reply!  I’d like to report that my guess as to what he was up to was spot on, and I called it; but as it happens, I was half right.  The glyph market has been dropping on my server a little recently, nothing substantial (since I got involved, but I can’t really comment on the prices before that) but I’ve noticed (now I think about it) that where glyphs would regularly go for around the 100g mark, I quite often see them slipping down to the 75g level, not all, just some.  This when you consider I have around 100 to 150 glyphs listed at any one time, and (used to) sell up to 10 of those per listing session can equate to quite a drop in revenue.

Now in my mail communication with the seller (I explained that I write a blog, and he’s specifically asked not to be named so I’m assuming he’s a ‘he’ and will be referring to him as ‘the seller’ from this point onwards) he set out the reasons why he’s doing what he’s doing.  The full text of the letter is shown to the right, he talks about the glyph market being “hugely profitable for months” until recently when the “new guys” (do you think he means me?) have come along increasing competition and thus lowering the prices and the profit to be had.  By setting the prices low, he’s trying to price the other sellers out of the market, by taking away the profit margins, hoping that he has deeper pockets (and more patience) than they do.
This sort of competition is quite a common occurrence in real world economics; a new market comes along, lets say selling trolls tusks.  Someone has spotted a niche for tusks, makes an investment in the R&D of developing a trolls tusk for the market, setting up a selling infrastructure and taking the tusks to market.  All is fine, there's lots of profit to be made an no real competition to speak of, everything is going swimmingly.  That is until one day someone else spots that you’re doing nicely for yourself with you big house and new car and decides they’d like a bit of that pie too.  This isn’t a problem initially, yes your sales take a hit at first as customers can now chose your tusks or someone else's, in the long run the added competition has actually helped you as there are actually enough customers to go round, and you’ve taken another look at your operation and realised that you can save money by streamlining some of it, thus making more profit per tusk.  Even though you sell less tusks, you make more profit per tusk.  All is great until, over the months, ten more tusk sellers come into the market all wanting a their own slice of the shared troll tusk-pie; and what's more, they didn’t bother doing their own R&D, they just copied yours so saved on the costs, meaning that they can sell at a cheaper level that you to such an extent that there’s no longer any profit in the market for you because everyone is undercutting you. 

At this point, something called consolidation will normally happen, either companies will aggressively buy out their competitors or merge, chose to move into a different market, or go bust.  This isn’t always enough to reduce the competition to a level to achieve a stable, sustainable, profit level for all involved.  So other avenues need to be taken, either by differentiating yourself some way(adding tassels to your tusks for example) so that people will pay more for them even though they’re a higher price.  The only other option is to compete on price alone, this is generally accepted to not be a nice place to be – someone will eventually fail if more than one seller attempts this as there can only ever be one lowest cost seller.  Very occasionally, dirty or extremely aggressive tactics will be employed; smear campaigns, aggressive undercutting and much much more can happen, the aggressive undercutting is just what we’re seeing on the glyph market.  In real world economies, the undercutting seller will generally sell their wares at an unsustainable level, either at a loss or at such an insignificant profit they may as well not bother.  This is a brinkmanship game, hoping that their competitors go bust, go away, or sell up before they do.  Once the competition is gone, the prices can be artificially inflated to far higher levels and more profit can be made than was previously possible as there is no longer any competition.  The way this is normally stopped is through legislation by governments and regulation, the government specifically stops companies doing things which will harm competition unfairly, and  ultimately raise prices or lower service levels for the end consumer.

Winding our example back to the Auction House and my current predicament, there are a few differences between real world economics and the WOW economy; Primarily, you cant go bust, you can’t buy other peoples business, and there’s no regulation, and you can’t compete on anything else but price.  People can go away, but not for the same reasons as you’d see in business; The only reason that others will stop selling, is that there is so little gold to be made, it’s not worth their time to play in that particular market.  For example if I only make 1g per glyph in profit, but each glyph takes 2 minutes to create (picking herbs, milling, inscribing the scroll), I might chose to go and make potions at 10g profit per pot for a similar effort.  Additionally, different people will have different thresholds, a school kid with an abundance of time on his hands might accept a relatively low profit, someone who has a full time job, family and drinking habit to sustain, on the other hand, may only have a few hours a week to play and decide their fun is better had elsewhere in the game.

My friendly sellers strategy is brave, but I fear may be misplaced for the reasons I’ve set out above, we’ll see, and hopefully he’ll be kind enough to tell me how he thinks his endeavours in artificially revitalising his market have gone.  I suspect some of the competition may disappear, but as soon as the market goes up they, or other new entrants, will reappear.  He also may be creating a rod for his own back, glyphs are now at such a cheap level that it’s more profitable to farm something or quest for gold and buy them, instead of going out and picking herbs to make the glyphs yourself, potential customers may just buy up all of the glyphs they’ll ever need for them and their alts, and never need to buy a glyph again (until the next WOW expansion is released) thus decreasing the demand.  I know this is happening, as it’s exactly what what I’ve done – it’s not worth my time grinding herbs and creating the glyphs at this price, so I’ve filled out all of my empty slots for every character over level 70.  He’s also running the risk that the competition will simply buy the glyphs at 25g, wait it out and undercut him at the higher levels in a few weeks time; I know this is happening already, it’s exactly what I’ve done.

As for my glyph selling antics, I’m pretty much waiting it out, as I say, I’ve bought a good few glyphs at the low levels, about 3k worth at 25g, which equates to 10-20k at previous prices (whether the market will ever recover to quite this level I’m not sure).  I’m absolutely fascinated by the effect on the economy, I’ll be monitoring the sales closely, and I wish him every success in inflating the market, if it works, it’ll benefit my sales massively.  I’ll also be monitoring the related item sales.  I’ve noticed inferno ink sales, which previously sold like hot cakes, have been slow.  I’ve also noticed that the price of potions has increased slightly, this may be coincidental, or it may be that he’s bought herbs for ink from the AH, pushing the price up.  I’ll have to write and ask…

Financial Crisis

What do you do when the bubble bursts and someone ruins your fun on the Auction House? – PANIC!

Dealing with a competitive market environment on the Auction House is a topic which comes up a lot in the various blogs and sites which look at how to make gold in WOW.  It’s something which I’ve had to deal with on numerous times over the past few weeks and poses a constant dilemma.  Do you undercut other sellers, if so by how much, at what point is it not worth your while to undercut?  do you undercut aggressively (i.e. by a large margin) or do you stick your items up for a few silver less.  Or as I’ve been doing with potions do you go for the mid price, knowing that unorganised panicking raiders will probably buy them.  Do you just back off and leave it for a few days if there are a lot of low priced items in your area, or do you go on the offensive and actively buy up low priced items and relist them at a higher price?  The trouble with WOW is there’s no real way to differentiate your wares, its a fact that there can only ever be one, and no more than one, lowest cost operator in a (real world) economy, all the other operators operate, for whatever reason, at a higher cost level so, if competing on price alone, would either have to accept lower profit margins or go bust.  What actually happens is people compete on other things, why are Audi’s more desirable than Volkswagens? which in turn are more desirable than Skoda’s – they’re all made by the same company, surely they’d sell for the same price? things like brand perception, value added services, addons which are over and above the basic needs; in WOW the only thing you can compete on is price.  This means you’re valuing your time in terms of gold, how much gold is half an hour of your time worth? What’s the most profitable way of farming gold?  If playing the Auction House becomes so unprofitable that you can make more gold per hour than grinding then why bother at all?

Where am I going with all this I hear you ask? well, a strange thing happened on the AH last night, someone listed a job lot of glyphs for 24g99s, in stacks of 5, I don’t mean just a few of the cheaper levelling Glyphs, I mean pretty much every glyph possible.  Now on my server the median average (i.e the most common) range for the higher end glyphs is 85-100g, the lesser glyphs tend to go for a bit less, some go for upwards of 200g all depending on the current supply.  As a rule I don’t sell for less than 50g, I always undercut by 5s for anything less than 100g and always by 25g for anything over 100g up to 250g – on a rare occasion you’ll see a glyph listed for a silly amount, I won’t just undercut that by 25g because 5 minutes later someone will come along and undercut me.  On a daily basis I sell between 5-10 glyphs and bring in between 500-1000g which isn’t too bad at all, I’d estimate about a 75% mark up if I were to have bought the mats, but as most of them are collected it’s pure profit.  More often than not, the glyphs which don’t sell are the ones which someone has undercut you on, not a problem, you just relist them using the rules you’ve set for yourself when the auction expires.

Now the same guy has listed hundreds of glyphs, all at 24g 99s, some will cost far more in terms of mats, so he or she would have been better off listing the raw mats on the AH and selling them.  So I can only assume that they are farming the mats and listing them, so on the face of it they are making 25g profit per sale, but actually I could make far more from questing than they could possibly make from grinding herbs, milling them, making the glyphs and listing them.  This got me thinking, what are they trying to achieve?  they’ve listed 5 x every glyph at the same price, in a normal (real) economy you might use this tactic to force the competition out of business (assuming your pockets are deeper than theirs) and then once they've gone bust, artificially inflate the price of your goods to make more profit in the long run.  This is WOW, people don’t go bust, so it can’t be it.  This has me puzzled, I can’t for the life of me think what they are trying to achieve.  My only guesses are, they’re a Chinese gold farmer and have far too much time on their hands, but as their aim would be to make as much gold as possible, this doesn’t wash;  they could be setting out in the glyph business and not understood how the market works, but again given they’ve clearly gone to a lot of trouble to build up the profession, used a decent addon to pick all the glyphs priced over 25g and listed their wares this doesn’t make sense to me either.  The only plausible answer that I can think of is they’re happy with a reduced profit level and going for mass sales at a low mark-up rather than profitable sales.  The only two remaining options which are less likely that I can think of are worrying; either it’s a fellow blogger doing an ‘experiment’ like myself and trying to steal my thunder, or they have more gold than sense and they’re just doing it to upset other sellers.

I’m actually planning on mailing the guy tonight and asking what the hell he’s playing at he’s trying to achieve, I’m genuinely curious as to his motives, and it should make for an interesting blog post.  I’ll let you know if I hear back (I suspect I wont) In the mean time, I’ve bought one of every glyph and banked them, I’m going to be largely retired from the glyph selling business for the foreseeable,  until the market returns to normality that is.

Milling around the Auction House

My first weeks profit and report from playing the WOW economy

A week into my playing the auction house experiment and I can report I’m in profit!  Not just a couple of bronze either, with no more than 2 hours total effort (To quickly recap, I’m buying items on the auction house and reselling them either as they are, or using trade skills of my alts only, no questing or grinding is involved.). I’ve made a 300% return on my initial 1000g stake, and that’s without taking into account the stuff I’ve still listed on the AH and in my inventory which are still to sell.  In addition to my 3000g profit I reckon I’ve another 5000g worth of ‘stock’. 
In my week of playing the market, I’ve primarily stuck to buying Cinderbloom, converting it into ink, and relisting it.  I’ve had a little foray into prospecting ore, and whilst there's a profit to be made there, its more time consuming and I’m not quite sure I’ve fully ‘got’ the most profitable means yet.  I (just last night) had a look at buying herbs to make potions, but as yet haven’t sold any so that’ll be one for the next update, I’m also going to look at enchanting in the near future.

So, for the results; we’ll concentrate on the main trade first up, inks.  In total I bought 2598 Cinderbloom at an average price of 96s 80b, which I milled and turned into ink.  On average (ish) one stack of 20 Cinderbloom will produce materials for half an Inferno Ink and 5 Blackfallow Ink.  In total I’ve sold 33 Inferno Inks at a little over 43g each and 75 Blackfallow Inks at just over 10g each on average.  I’ll also point out that I ‘bought’ quite a lot of the Blackfallow Ink with my mage as I was dry which could be considered as artificially skewing my results – in total I purchased 300 of them at 7.5g each (I chose a value under the average selling price so as not to artificially inflate my profits.
Even when I ignore the stock of ink that is still on the AH unsold from the herbs I bought, I’ve made a healthy profit of just short of 2000g which is a mark up of 77%, a good return for a weeks work in anyone's money.  To put this into context, in the ‘real world’ an economist could reasonably expect a return of around 100% per year on an investment for a commercial venture.  I’ve pasted a breakdown of my P&L table below (note there are a couple of omissions of purchases I made before I installed Beancounter).

With the prospecting, I chose to sell some uncut gems, generally the ones that are used for dailies.  Cut some of the larger gems into various types which were going for a decent price on the AH and then create rings and necks out of the rest, selling the blue ones and disenchanting the green.  As you can see from the table below I haven’t sold that many of the glyphs which I bought, there were a couple of additional sales before the Beancounter install, but for some reason the glyph sales have been quite slow in the past week, and I’ve been careful not to compete with my glyph factory alt, as that would be silly, which has restricted my options.

Selling
Item name	total	number	average price
Inferno Ink	1424g 70s 00c	33	43g 17s 27c
Zephyrite	89g 70s 00c	13	6g 90s 00c
Hypnotic Dust	102g 08s 00c	38	2g 68s 63c
Blackfallow Ink	778g 75s 00c	75	10g 38s 33c
Sovereign Demonseye	94g 00s 00c	1	94g 00s 00c
Brilliant Inferno Ruby	94g 60s 00c	1	94g 60s 00c
Sparkling Ocean Sapphire	38g 70s 00c	1	38g 70s 00c
Glyph of Blade Flurry	475g 00s 00c	3	158g 33s 33c
Carnelian	296g 65s 00c	17	17g 45s 00c
Glinting Demonseye	176g 50s 00c	3	58g 83s 33c
Hessonite	5g 95s 00c	1	5g 95s 00c
				5826g 63s 00c
Purchasing
Item Name	total	number	average price
Whiptail	35g 00s 00c	20	1g 75s 00c
Cinderbloom	2514g 92s 02c	2598	0g 96s 80c
Goldclover	38g 66s 00c	40	0g 96s 65c
Bladefist Sword of the Mercenary	60g 00s 00c	1	60g 00s 00c
Glyph of Death Coil	56g 96s 99c	3	18g 99s 00c
Glyph of Death Grip	18g 99s 00c	1	18g 99s 00c
Elementium Ore	578g 10s 00c	335	1g 72s 57c
Glyph of Stormstrike	17g 95s 00c	1	17g 95s 00c
Glyph of Scourge Strike	20g 00s 00c	1	20g 00s 00c
Glyph of Gouge	40g 00s 00c	4	10g 00s 00c
Glyph of Pounce	36g 60s 00c	2	18g 30s 00c
Glyph of Voidwalker	0g 85s 00c	1	0g 85s 00c
				3418g 04s 01c
	profit with ink purchase			2408g 58s 99c

So what have I learnt with my exploits?  Well quite a lot actually, firstly, automation is key to removing the tedium from making a profit, using the Advanced Trade Skills Window to bulk craft inks is key, unfortunately milling cannot be automated, however if you’re making one type of ink then you can set it off and go do something else.  This means buying in bulk is key I’d recommend creating 300+ Blackfallow inks in one shot and then the associated Inferno Inks.  I’ve used dead time to mill stuff, so waiting in the dungeon queue or while people are afk in dungeons where possible.

The key for me to making profit is to understand the item, its rarity, its uses and its demand.  This will vary from server to server and day to day.  I tend to list items for 48 hours, but ideally you want to aim for 24 hours, or even 12 if you log on daily to ensure you’re always the most competitive.  On the supply and demand front, don’t flood the market, if you’ve just made 300 Blackfallow Ink there's little point listing the lot, this will only serve to give the impression of high supply and you’re almost guaranteed not to sell them.  I tend to list a few stacks of 20 and then another 20 or so singles at a time.  For the Inferno Ink, because of it’s price and relative rarity I tend to only list singles in auction.  On the glyph front they’re pretty slow shifting so I only ever have one of each type listed, the gems often go in spurts, i.e. when someone gets a new item or items with multiple slots and need to gem up.  For the items used for dailies like the lesser gems, I list a few singles and the rest in triples (as you need 3 for the daily).  If the price is crap, don’t list your item, this is especially pertinent for Glyphs on my server, there seems to be a glut of people who level inscription with no idea of the glyphs worth listing them for silly money just to get rid of them; I’ve made several hundred g (pre Beancounter) buying up Glyphs for ~10g and relisting them in the 100s.

I’ve been using Auctionator to help me buy and list items, this has been invaluable in saving me time and making me the most competitively priced vendor of my items.  I can’t stress highly enough how vital the addons have been to my efficiency, without them, I simple wouldn’t bother.

My feeling is the ink is the most profitable, and my figures would back that up, even on the time front, simply due to the variation of items created from jewel crafting ink wins.  That said, I’m kind of hitting my limit for the amount of ink I can sell so if I want to make more money per week then I’m going to be forced to diversify.  I’ve had a brief foray into the gem and jewel crafting markets, but due to the variety involved it’s impossible to automate properly as each time you create a new item type it requires a manual interaction (this is a Blizzard constraint on trade skills).  I suspect Enchanting might be very profitable, however it seems to be extremely difficult to tell how much an item will sell for prior to crafting it as the tooltip addon doesn’t work with enchants (this is because you’re hovering over the enchant, however you sell vellums).

So in summary, I think a very successful week playing the market, I’ve made a few mistakes which have cost me money, but even with the mistakes I’ve made a healthy profit at a far greater rate of return than I could generally expect through grinding or questing.  I’ll aim to stick an update up on my progress as I expand my operations this week however work has gone crazymadbusy so it might be a while.

Becoming a wheeler-dealer

My little auction house experiment
You may have noticed my posts over the last few weeks have become more focussed on the economics of the game, this is partly in that nothing much has changed for my primary focus of the priest on the holy healing front or shadow DPS, and partly because I’ve had less ‘session’ time to actually do much in one shot rather than just pottering around and levelling alts.  I’m even struggling to find the time to get 5 man heroics in.

My regular reader will also know that I’ve been making a fair bit of cash from my auction house adventures, primarily as a result of selling glyphs on my mage.  So I’ve decided to have a look at what a true wheeler dealer could do on the Auction House.  I’m not really setting myself any rules for this, other than I’m using an alt that I haven’t played since TBC, I’ve cleared out it’s bags and bank and deposited the sum of 1000g with it.  I considered starting off with a smaller sum of 1g or less, but that's already been done; 1000g strikes me as a reasonable amount you’d have ‘spare’ after levelling to 85 so why not.

I will be allowing myself to use alts trade skills, so for instance, I might buy a job lot of herbs, send them to my priest and convert them into potions (whilst paying for the glass vials of course).  But I wont be using any collection skills, questing or grinding; all the materials will be bought from the auction house or from vendors.  All of my sales will be made on the Auction House, I won’t be ‘advertising’ stuff in trade, though I’ll reserve the right to sell stuff who happen to post a WTB advert in trade while I’m online.
I’ll be posting my results over the coming weeks, I’ll be concentrating on one or two areas at a time, slowly expanding my horizons as I get more familiar.  I’ll also be using this opportunity to investigate the addons available to aid a trader.

I currently use auctionator rather than auctioneer, as it’s simply easier to get to grips with and use.  I’ve just installed bean counter to help me keep track of what’s going on and I’ve got a couple of tooltip type addons to help me assess the value of items quickly, more details in my post here.

So first up, I’m going to stick with what I know, herbs and glyphs.  Glyphs are my normal business, I’m making a steady 2-5k in gold per week depending on how much time I spend messing around making them and playing the AH.  I’ve occasionally ‘gone aggressive’ and bought out glyphs that have been listed for stupidly low values and relisted them, but I haven’t made a habit of it.  My first course of action was to use auctionator to run through all of the glyphs on the auction house, any which I spotted for less than 20g that were either the only one on, or the next lowest was over 100g I promptly bought and relisted, I’ll be doing this from time to time whilst being careful not to ‘eat my own dinner’ and compete with my mage.  I’ll be looking to expand into the other areas of gems enchants and so on once I get a better idea of what sells and what doesn’t.  200g later and I’ve bought myself about 15 glyphs and relisted about 8 (some are duplicates and I figure there’s no point listing them yet).

Next up its herbs; I’ve noticed for sometime that, due to its abundance and relative lack of use to alchemists, Cinderbloom is dirt cheap on my server, often down as low as 50s each generally more around the 75s – 1g25s level.  Now ink goes for a lot more, per stack of 20 (including the guild level procs) I’d expect to get around one pot of Inferno ink and up to 6 pots of Blackfallowink plus any guild level ‘perk’ procs.  Inferno ink is going at 45g or there abouts per pot, and Blackfallowink is listed at 14g (which I think is a bit high to shift in volume, I’ll give it a go undercutting it but I suspect I’ll need to drop it to sub 10g per pot).

After spending around 500g on herbs, mailing them of to my miller and listing them I’ve got a few hundred gold left and payment waiting in my mail box for two of the glyphs that I listed earlier waiting for me.  Not a bad start.  Check back in the next few days and I’ll post my first set of results.

Making money on the Auction House

Getting the best return for your trade skills

I’ve found myself spending more and more time recently pratting about with professions, and seeing what I can do on the Auction house, with a fair bit of success.  In my post earlier this month, I talked about my brief investigation into the best methods of collecting ore and herbs, I’ve currently got five crafting professions maxed out on my characters, along with mining and herbing.  Added to this there’s all that ‘junk’ that you collect throughout instances that’s of no use to you but is required by others for whatever crafting they’re doing.  In this post I’ll take a look at what I’ve done over the past few weeks to make money on the Auction House with my hard earned spoils.

My crafting professions are enchanting, alchemy, gemcraft, inscription and black smithing; I’ve been an enchanter on my mage since day 1 of wow it’s something I’ve always done and always will do, both for disenchanting the green crap you pick up along the way and providing enchants to my characters and other guildies.  Alchemy came a bit later on my priest, for some bizarre reason the early (official) WOW guide recommended herbing to go with enchanting, so my mage ended up with millions of herbs and no spare bank space.  I started alchemy on the priest to deal with this and get a few mana pots to boot.  Gemcrafting came along later, I dropped tailoring in TBC for it, not sure why so lets just say ‘because’.  I started inscribing on my mage recently for two reasons, I made the druid so could drop herbing, and I was getting hacked off with paying 100g per glyph on the AH.  Black smithing I’ve levelled recently just to ‘have a look’.  I’ve got all of the others in the pipe line, but I need to chose one and make a concerted effort to level it next, which will probably coincide with levelling another alt once I get bored of ZA and ZG.

I’m going to ignore enchanting on the whole, with four lvl 85 toons to keep in enchants I never seem to have enough dust or shards to look to sell much.  I will however mention that since vellums came into play, its far less costly to level enchanting, simply enchant scrolls and stick them on the AH, you cover a lot of the ‘cost’ of not vendoring green rubbish.

Alchemy and Inscription are two competing professions to some extent, both use herbs as their main source of materials, alchemy specific herbs for specific pots, inscription isn’t fussed, it just needs lots of herbs to mill.  Look to use the cheaper herbs (probably Cinderbloom) on your server for inscription and use the rest for alchemy.  Gemcraft and Blacksmithing suffer a similar dilemma; do you prospect the ore or make something? I’ve tended to prospect stuff, mainly using it for my own gems but I'm starting to build up a stock of gems which is allowing me to look at selling some.

So you’ve got a million and one items you can craft, you’ve probably got as much of the raw materials you’ve collected, you’ve also got the intermediary states of these materials (herbs milled to ink, ore refined to uncut gems or smelted to bars etc.) do you look to sell just finished items or is there more money to be made with the component materials.  Well the answer, as with so many of my blog posts, is ‘it depends’.  It depends on the time of day or week, it depends on the prevailing economy of your server (it’s quite fascinating how they develop differently but that’s another post), and it depends on your competition on the auction house.  I’m going to concentrate on inscription for this post, as that’s the craft I’m currently focusing on making money with, but first lets take a step back and talk about addons. 

Addons are there to make your life easier, there are a number of addons which can significantly reduce the time taken to craft items and even decide which items to craft.  I’m assuming you, like me, utilise a collecting alt to do your collecting of raw materials, so the first addon you’re going to need is altoholic which collects detailed inventories of all of your alts and allows you to see who has raw components which you may need for a recipe simply by hovering the cursor over it.

Next up, you’ll want the advanced trade skills window,  this allows you to custom sort your trade skills, perform text searches, and queue multiple items to be crafted.  It’ll even work out which crafted items can be made from raw materials and queue intermediary stuff, e.g. if a glyph needs 2x lion ink, and you don’t have any, but you do have 2 of the Golden Pigment needed to make the ink, it’ll queue the ink first, and then the glyph for you, genius.  Sadly Blizzard removed the ability for ATSW to process multiple queued items automatically some time ago, so once you’ve finished making a particular type of item, you have to manually click on ‘process queue’ for it to move to the next item which is a bit of a bind but not the end of the world.

Last, and probably most important, is Auctionator, Auctionator lets you scan the Auction House in its entirety and record prices for every item on there.  It also modifies the buying and selling functions, when buying it’ll automatically list similar items by price, lets say you’re looking for Ink of the Sea as shown, it’ll group all of the same priced stacks together and allow you to buy them quickly, once you exhaust that price it’ll move on to the next.  Most importantly from a selling point of view, it can be automatically configured to beat the price of the same items already listed, and allows you to list multiple stacks, or break stacks down into smaller numbers extremely quickly.

All sounds very complicated doesn’t it? I suppose it is a bit when taken as a chunk, but as you work your way into selling you’ll build up your confidence with the adds and look to find more and more ways of saving time and automating stuff.  There’s one final tool, which a guildie introduced me to over the weekend (the same guildie who introduced me to GTFO) it’s not an addon this time though, its a webpage http://wowpopular.com/ which lets you see what are the most popular enchants, glyphs, gems, talents and a whole host of other things across all of the WOW realms, not only that, but it does it by class and even by spec.

You now have the supply, and you have a bloody good idea of what the demand will be; each class and spec has a list of pseudo-mandatory glyphs, this site allows you to quickly see which these are for every class and make them, since I started using it I’ve more than tripled my sales! and this is how:

I’m assuming you have a stock of raw materials, if not, go read this post.  First of all go to the AH and perform an Auctionator scan, this will make sure your database of prices is up to date and correct.  Next load up http://wowpopular.com/ on a companion PC (or alt tab) and list off the first specs of the first class’ glyphs.  Open up your trade skill window and hover over the glyph.  My first question is: is it sold on the AH for more than 85g? if not, forget it and move on to the next glyph.  The most used glyphs tend to go for about 100g on my server, some of the ‘levelling’ glyphs go for as little as 2g which doesn’t cover the materials, some for far more; this is a figure that I’ve chosen which means I’m making a reasonable profit on all the materials, it depends on your servers economy, pick a figure and stick by it (although you may want to adjust this over time).  Assuming the value is fine, have a quick look at the component prices by hovering over them  do all of the materials (if sold individually) come to less than glyphs auction price? does it allow for a reasonable profit? if so you can craft away, with one final check – do you already have any of the said glyph, hover over it again and have a look, I tend to only ever have 1 or 2 of any particular item on the AH at any one time, keep the perception of supply down to keep the prices and profits high!  Rinse and repeat for all of the glyphs applicable to all of the classes, by the end of it you’ll find you have between 80 and 120 glyphs.

Now its time to head over to the AH and list them, this is key, you need to beat the prices of competitors on there, but you also want to stay competitive for the duration of the auction, accept that you will be undercut sometimes, but try and do what you can ot avoid it.  Chose your timeframe, I always go for 48 hours, as I can’t gaurentee to be on daily, if you’re on every day you may want to go for 24 hours.  As a rule, any glyph priced at or below the 100g mark I use the auto undercut function in Auctionator and list the item for 5s less.  For anything for anything 100-125 I list at 99g, for anything 125-200g its 125g, and for anything 200g+ I’ll go for 150g.  for any items where there are no competition I go between 100 and 125 depending on historic sale success.  This may sound a bit silly, why not simply beat the higher prices by 5s too and make more profit? From my experience, if you do this, somoene will simply come along and undercut you with a sensible price, you often see auction lists with one glyph at ~250g, a couple more in the two-hundreds a few more in the hundreds and then one in the 99g area, the higher priced items will never sell, so it’s a wasted auction. 

It’s then just a simple matter of collecting your winnings and restocking those glyphs that have sold, use altoholic to check if you have glyphs still as per the process listed above.  It takes me about 20 minutes to do a full sweep of http://wowpopular.com/ craft, and list them, I’ve quite often sold two or three glyphs by the time I’ve finished listing and I reckon on a steady 1-2000g ish profit per set of listings, this goes up a little at weekends as there are more people online.