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.