August 21, 2009

The Armageddon that never was

Filed under: Inscription,Thoughts,wowbanker — Tags: — Kevmar @ 12:24 pm

I set out with huge plans to drive my competition away. The market was going to crash and burn with me in control. The first day of my plan my main competition worked the AH the entire day. So I was able to drive the prices down fairly quickly. I normaly let him hang out under my threshold but I lowered it to keep him on his feet for the entire market.

Once I saw he was working it that hard and I already drove the low prices even lower, I actualy kind of steped back and let him do his thing. He realy was not my target here. It was everyone else. I knew this guy would be key in doing that. Going head to head with him, puts everyone else out in the cold. I expect they all moved a lot of glyphs over the weekend at dirt cheap prices.

Over that same window, I was able to hold the herb prices up. I almost gave up on this a few times. The flood of herbs onto the AH made me rethink it a few times but I kept it up. The result I was looking for was to dry up the supply as they sold whatever stock they had at low prices.

I wroked the hardest the first half of the first day. I just kind of moniroted the market the next few. When I saw my main competitor ease off, I went back to normal to hold prices. Then my main competition all but backed out. I think he either left town, is watchig the market, or ran out of ink. If he was watching the market, he would have have already started to move back in as the prices move back up.

I would like to think he ran out of ink or re did the math on what it was costing him. I saw him try to unload snowfall a few days ago. I played some games with it. He wold post a few stacks, so I would undercut 1-2G and post a few. We walked the price down to 9-10g. The whole market followed us. When nothing was listed over 13G and more to that 9-10g price, I purchased it all before my buyer logged in. I sent it all to him for 12G each as a bulk discount.

I do expect him to return before long. If he is anything like me, there is no way he can just leave the market. Carpet bombing in general is down to mostly me. People that are still with it are working it like any other market. Crafting what sells and passing on the rest. Those are the high movers because I prabably rob them of any sales on the other glyphs.

I could have taken the market very low for a long time if I wanted to. I still sell a good deal of glyphs. That would prabably hurt me more then help me. I know I cannot control the market forever. It is too big of a market and the process is too simple. I just want to delay the next big player from taking my spot at the top.

August 19, 2009

What will you do with all that gold

Filed under: Thoughts,wowbanker — Kevmar @ 12:06 pm

I have way more gold then I plan on spending. I should have stoped at 20,000 gold. I think that’s all I really needed. I have about 115,000 gold at the time of writing this. My goal was 30,000 and I hit that way to quickly.

I have no desire to just burn it on a mount or pets or achievements. I do see some new craftable items I could blow it on, but I’m in a raiding guild and will get gear that’s close enough in due time. So that brings me back to what to do with it.

A close personal friend was rolling in the gold a year ago. By rolling, I mean he had 8-10k gold. For us, that’s more then we really ever had. I was working hard to get my epic flyer and when I was within 1,000 gold of getting it, he gave it to me. Not a loan, but a gift. To him he was making it faster then he needed it. Fast forward a year and now I am in that situation. I sent him 10,000 gold last night. I reminded him of when he gave that gold to me and I was just returning the favor. I didn’t give it to him because he gave me gold before. I did it for the same reason he did. To help out a friend.

I also sent 10,000 gold to another close friend. I think they will find more value in that 10,000 gold then I will in my remaining 95,000 gold. Now I am at the point where I ask myself, at what point do I stop. The gold cap is my soft goal. I think it would be cool to say I hit the gold cap in 4 months. But my feelings will not be hurt if I back out of that one.

One goal I am working on is to reduce the amount of game time I devote to making gold. In a way, I am cheating because I spend so much time doing it. Did I really make that much if I do hit the gold cap in 8 months but it took 2 weeks /played to do it?

August 14, 2009

Ten questions to ask yourself, on a pile of gold

Filed under: Thoughts,wowbanker — Kevmar @ 12:36 pm

I saw these questions over at Phase 3: Profit!

How long did you spend on making gold every week?
Way too long. I have an hour of milling/inking and 2 hours a day of other crafting. I would guess an hour for relisting. So 4 hours a day sounds high but I can be away from the computer for some of it. Thats 28 hours a week spend making gold.

How much you earn a week ?
I have about 5-6k in sales and I would guess 2-3k in mats a day. That puts me at 12-15k a week.

Do you really need that much ?
No, not at all. I am way past all the gold I will ever need.

Where are you going to spend your extras ?
I am going to donate a large chunk to a few friends and sit on the rest. I don’t have any idea what to do with it.

Is there anyway can increase the amount you can get?
I am about to look at some new markets. Just added a JC to my professions this week and looking into profitable items to craft and DE for other professions.

Is there anyway can decrease the time you need ?
The only way I can cut back the time I need is to cut back my profits. Inventory space and high volume turn over is why I do daily crafting. I tried to do a Sunday is crafting day type of thing and craft enough for the week. So much of that sold that I had to recraft again on Monday. So I still craft daily, just a lot more.

Will the method you are currently gather gold be obsolete soon ?
It all depends on my competition. I could be bumped out of my primary market, but it would take a lot of work. I have soo much inventory that I would never truly leave that market. The big thing that could break my method would be blizzard making changes because of people like me. Patches are the big thing for me to watch. This patch killed my dream shard market as an example.

What’s the last time you got a new method for profiting ?
Just this weekend I added JC to my list and I am looking at some things to craft for DE. I spend a lot of time looking and hunter for more tricks to flip gold. Spend a lot of time on forums and blogs looking for new ways.

Is it fun at all ?
I have had a ton of fun. I may be about to burn out though. I put a huge time investment into it and I don’t think I can keep that up.

Planning to share what you have learned?
I do share a lot of my ideas. Sometimes when I am fishing for something new, I toss it out and see what people say. Some of my ideas are out there. I think others are crasy enough to work if I would try them. I do have a few things I keep to my self. My fear is that if they slip out it would kill my market. Either by giving the info to too many people or blizzard thinking that it realy is broken and make changes.

August 6, 2009

Too long of a queue

Filed under: Thoughts,wowbanker — Kevmar @ 4:39 pm

I am going to work on pulling my queue closer to when I make posts. I started with a lot of ideas and updates. So I made a long queue of them to keep the info showing up.

Some things its ok to queue. I am getting a better feel for that. Things like how to use a mod or ways to do something.

Other things I need to keep more current and post almost daily. Like the status of my opperation or things I am dealing with.

I had a lot I could have said about my inscription with the recent patch. Some important details of my operation were in later posts. I am also showing how my operation chagned over time. So if I said I made 15,000G in the 2 days after the patch the important deails of why it worked that well would also have to be mentioned. Then I would have to review all my posts in the queue to see if it conflicted with that or was from an earlier time.

I want to show you how I learned to walk before I show you the full speed sprint. I guess I need to do it faster. Once the current queue runs dry, I will be posting current stuff more current. It will also help when people post comments. Some people give solid advice. If they saw those thing when I was struggling with them, that advice would have been very helpfull. Now I find myself giving them advice on what they said with information that is a few days into the queue.

Things moved faster then I expected them to.

July 24, 2009

Post Timeline

Filed under: Thoughts,wowbanker — Kevmar @ 5:58 am

My goal with this blog is a post a day. Sometimes a lot happens and just feels better as a different post. At the moment I am putting them in the queue to be published later.

Thats fine becuase most blogs do it that way. But then I am new to it so I may not be very consistant in my writting. I may have something I am working on over two days become 2 posts several days appart.

I will try to keep them together but I already see posts that are related to each other on a time line but the publication of those posts are far appart. Those posts commnig up are to do with buying bulk herbs. I made what I thought was an insane purchase of 120ish stacks of herbs on a Saturday and then early this week I purchased 320 stacks. That big of a purchase so soon after the other it a bigger deal then it would be a week later.

I am learning still. Blogging isn’t that natural for me but I think I have usefull information. I also know I have dry spells. I would rather queue up every post instead of drop 20 in 3 days and you dont hear from me for a month.

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