Today's Hatchery post was submitted by Erogroth. If you'd like your own original gold-making writing to appear on The Hatchery simply email the post, title, images and your name/pseudonym to powerwordgold@gmail.com with the word "Hatchery" as part of the subject line and we'll get it posted.
Recently I decided to enter the gold making game of World of Warcraft. I had no idea what I was going to do, how to do it or even where to start. Worse I only have one max level character and my next highest alt was sitting at 80 thx to a Scroll of Resurrection a friend gave me after I took some time off from the game during Cataclysm. I had some gold just from doing Dailies and quests and everyday things in WoW, which was about 20k. So where to begin? Head past the jump to find out.
Well I began my search for how to make gold the same way I begin all my searches. Google! A friend told me about how he had been making a killing selling old world transmog and I figured this may be something I could get into. So on to Google I go and I stumble across the Powerword Gold Hatchery with the story of the “Mogfather” and all these shopping list things. And so started my new adventure.
After much reading and watching some live streams and listening to Podcasts I had some ideas. I’d like to pass this knowledge onto you so you may have an easier time getting into this fun aspect of WoW.
There are a few things you should know as you start.
- 1) Know Your Resources
- There are many good websites out there that will give you tons of help and info. My favorites are:
- Powerwordgold.net – Run by Jim Younkin the site provides lots of good info. The most useful in my opinion is Jim’s live stream where you can watch a pro in action. Jim will take you through his routines of buying and posting auctions, show you his spreadsheets that are of great help to maximize profits and track sales and give you great insight into some of the best addons to use for Gold making. He also provides much of his data right on his blog. This site was my first resource and the biggest contributor to my success.
- Clockworkriot.com – Run by Faid, this site provides some great info and Faid does a video podcast where she will answer questions for you directly. She also has many useful video guides including some wonderful guides for setting up Trade Skill Master (TSM).
- The Consortium Forums - This is the site the pros use to trade info and help each other out. Forums on setting up Deal finding lists and speculations on upcoming markets and anything else you can think of.
- 2) Addons
- You may not need to use addons to make gold but it will save you tons of time and energy and as the goblins say “Time is money friend!”
- Auctioneer - This is the old school addon for Gold makers. Many Gold makers do not use it anymore but it has 1 or 2 nice features that come in handy once and a while mainly the General Search.
- Auctionator - I find this to be a much more useful addon. You can setup shopping list for quick searching of items you want and it breaks down items by a per item price as well as per stack. This makes it easier to figure out what you want to buy and sell. It will also undercut your competition when selling items based on your settings. This is a must have.
- TradeSkillMaster (TSM) – This is the be all end all of auction addons. This guy does it all from fast posting and cancelling of auctions to queuing up crafting items for profit and even mailing items to alts. See Faid’s video as well as the Power Word: Gold guide for setting this addon up and using it. This Addon takes a lot of customization and time to get the feel of but once it is setup and you know what you are doing your life will be so much better for it.
- 3) Mobility
- The Mobile Armory – The Mobile Armory is available for your smart phone and through the World of Warcraft website. You can check your auctions here, cancel and repost, and even scoop up good deals you find to flip for a nice profit. Just because you have a job or school doesn’t mean you can’t keep up with your gold addiction.
Now let’s talk about jumping in. There are a few ways you can get into Gold making if, like me you only have one or two characters.
Flipping
First see the Powerword Gold article on selling both 77-80 Cataclysm greens and 83-84 MOP greens. This is an easy way to make some gold if you have a little startup cash. You can buy these items for under 50g each and sell them for 200-500g each easily. This is how I made my first 200k.
Crafting
Next are professions. If you have a crafting profession such as Blacksmithing, Leatherworking, or Tailoring, you can make the current pvp gear. You get these recipes in your respective MOP shrine by purchasing them with Spirits of Harmony. Then craft them up and start selling them. I recommend using TSM to setup groups to make this easier on you. You can then check the AH once and a while and easily cancel auctions that have been undercut and repost them. Again see the above mentioned guides to learn how to do this. You can also use Auctionator for this. It will take a little more time but it is doable and it is how I did it for a while before finally learning TSM.
Shuffling
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| The Ore Shuffle (Click to enlarge) |
Another thing I want to talk about is the “Shuffle”. This is a term you may hear a lot but not understand exactly what it is. So let me give you a quick break down and a nice flow chart to simplify it for you. The shuffle is the process of taking ore and processing it through different professions to get the most out of it and maximize profits. The professions most needed for this is Jewelcrafting and Enchanting and its nice to have a transmute alchemist. See the image for the flow chart to see what to do with the materials. Keep in mind you may have a bit more competition in this area but you can make money.
Gathering
Last but not least if you don’t have much startup money at all pickup some gathering professions. Mining and herbalism are you’re most profitable. If you spend a little time each day farming up these mats you can flip them for a nice profit. I would recommend stockpiling ghost iron at the time this article is written (5.1) because in patch 5.2 there is several improvements to blacksmithing and ore and bars will be in high demand.
Summary
I hope this information can be useful to many of you. I know how daunting getting into gold making can be. The biggest question is always “Where do I start?” and I hope I have given you some options and answers to that question. My biggest piece of advice is to start small. Don’t try to get into every market at once. Pick one or two markets and learn them. Work those markets every day until you have a good idea how they work. You can then take that knowledge and slowly expand into other areas.
The trick here is that you only have one or 2 markets you are focusing on. Therefore you can spend more time learning these markets and dominating them. Many gold makers are in so many markets that they can’t take the time every day to focus on all of them and you have an opportunity to own one or two markets. In the mean time you can work on leveling an alt and getting some other professions going. During all of this you are learning a lot and by the time you are ready to bust into a new market you will have a lot more confidence in what you are doing. To this day I am focused on Plate PVP/PVE crafted items from MOP and the 77-80/83-84 greens and I do very well for myself. I am working on an alt that will be doing Alchemy and Jewel Crafting for me which will both be very profitable but I could hit Gold Cap with what I am doing now. It would just take a little more time. If you are persistent and willing to do the research you can become a very good gold maker quickly. Don’t forget to use your resources. Go to blogs and forums and ask questions. Watch the live streams that gold makers do. They are very helpful. Good Luck and Happy Gold Making!
-Erogroth
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