Thursday, July 25, 2013

My final Episode of Power Word Gold Podcast

This week I decided to step down as Jim Younkin's co-host on The Power Word: Gold Podcast. Looking back I only did 9 episodes but I had such a great time.

Ever since I got into gold making I wanted to start a blog and podcast. Many of my friends in the community encouraged me to go for it and shortly after I started my blog Jim asked me to be a guest on his show. We had a great time doing that episode and we had a very good rapport. Jim asked me to be on again the following week and invited me to be a permanent co-host during the recording of that episode. I was more that excited and pleased to accept and so it started.

We did many great shows together and the feedback from the community was great. I was very pleased to see that people liked what I was bringing to the show. As I mentioned many times my wife and I are expecting a new baby this fall and my work schedule has been hectic lately. Real life has really cut down on my free time and I felt that I was holding Jim back from being able to record when he wanted to. Jim however didn't feel that way and was sad to see me go.

I just wanted to take a moment to thank everyone. First to Jim for bringing me on board. Jim also was my catalyst into gold making and taught me a lot of what got me started. I also want to thank Profitz and GoblinRaset for having me on their shows as well. Episode 3 of Profitz The Cross Realm was my very first podcast ever. Goblin, took an idea I had but was too lazy to go through with and has turned it into his own successful podcast which I was privileged to be a part of the first episode of The Happy Hour Round Table. I also want to thank all of you, the listeners for being so supportive.

I am sure I will be back on the occasional episode of Power Word: Gold as well as some other Podcasts out there. I also plan to start a litecast where you can send me your gold making questions and I will answer them for you. So once again thank you all for being so awesome!

If you like to send me questions for my litecast you can hit me up on twitter @Erogroth or email me at Erogroth@gmail.com. 

Tuesday, July 16, 2013

TSM 2.0 Groups and Operations

Since my last post on TSM 2.0 I have had some requests that I cover some other features which I plan to do but first I thought it would be best to go into some detail on the heart of TSM 2.0, groups and operations. To understand all the other functionality of TSM 2.0 you need to know exactly what a group is and how it works in this new version of TSM and what an operation is and how it works as well. So lets get in to it.

Since many of you have used TSM 1.x I will try and give you some comparison so you can see how the new version differs from what you may be used to.

Groups
Groups are the heart of TSM 2.0. In TSM 1 we had categories and within those categories we had groups. Within the groups we had items. We were able to set posting rules at the category level which would effect all groups within it or we could set posting rules at the group level which would override the category rules if you had set any. Groups were only used for auction post and cancel scans.

In TSM 2.0 categories are gone. We only have groups now. However, we can now create sub groups within a group and subgroups of our subgroups. Rules or "operations" as they are now known can be applied to any group and will effect all subgroups within it unless overridden by an operation on one of those subgroups.

I know, its kinda confusing. Think of it like folders on a Windows computer. You have your C: drive. Within your C: drive you have folders and within those folders you have more folders. Its a file tree. If you apply permissions for a user to access a folder all of its subfolders get those same permissions. This is known as a Parent/Child relationship. The child folders inherit the parent permissions. You can override those parent permissions on the child folder by going to it's properties and setting custom permissions.

Look at my screenshot below and you will see my setup. I have a group called "Professions". Within this group I have groups for each of my professions, Blacksmithing, Enchanting, Jewelcrafting, and Tailoring. I have expanded my Tailoring and Jewelcrafting groups and you can see I have more defined subgroups withing them. In my Jewel crafting group I have MOP Jewelery, MOP Perfect Cuts, Rare MOP Gems, and Uncommon MOP Gems. Then Within those groups I have even more defined groups. Under MOP Rare Gems you will see a group for each type of rare gem.



If I select Imperial Amethyst and then the "Items" tab you can see I have each of the Imperial Amethyst cuts in this subgroup. Under my operations tab I can define my different operations for these items. Also take a look at the "Items" tab of my Rare MOP Gems group and notice that it contains all the items of all it's subgroups. If I apply operations to this group it will effect each of the subgroups beneath it unless overridden and the subgroup's level.



A Little More On Groups
I am going to skip over operations for now since that is the whole second part of this post but I want to show you the rest of the group tabs. First, the "Import/Export tab is used to add items that are not in your bags already to a group. I love this feature because I can pre-setup all my groups with the items I know I plan to add even if I don't have them yet or in the case of crafted items, have not learned them yet. You can either put in the item IDs, comma separated, or you can just use a link (shift click a link to add). This will add all the items you listed to the items of this group or subgroup. Pretty nifty! 



Next is the "Management" Tab which allows you to create, rename, move and delete groups. Although it is all pretty self explanatory I do link the move group method. When you click on "New Parent Group" you will see the full tree of all you groups. Simply click the group you want to move the current group to, click "OK" and your done. Another nice feature.




Operations
If groups are the heart of TSM 2.0, then Operations are the soul. In TSM 1 each of the modules, crafting, warehousing, auctioning, mailing, were all separate and only auctioning had anything to do with groups. You would go into which ever of the modules you wanted and you can setup the parameters of those modules to do what you needed.

TSM 2.0 simplifies all this. Now each module has an operation. Those operations are applied to the groups. So now groups are not just for auctioning, they are are also for crafting, mailing, warehousing, and shopping. I showed you a bit of the auctioning in my last post and I plan to go into each of these in more detail in future posts but you can see here in the Operations section, tabs for each type of operation you can create. Each of these has some rules the you set and then the operation is applied to the groups.



In this next screenshot you see I am on the "operations" tab of my MOP Rare Gems group. Here we can see the sections for each type of operations, Auctioning, Carfting, Mailing. Shopping, and Warehousing. In each section there is a drop down where you can select an operation you created for that type of function.



You will notice here I have my "Mop Rare Gem" Auctioning operation selected. I can select an operation for each of the modules and it will perform it's task based on the rules set in that module.



Here you can see in the operations module under the "Auctioning" tab, a list of all the Auctioning operations I have created. Here also you can see the Post rules for the MOP Rare Gem Operation I am using. For more details on each of the Auctioning Tabs see my previous post.



Summary
So to sum it up, groups are now more of a folder tree with a parent/child relation ship. Operations for each type of function are applied to these groups rather then having separate functionality for each module like we did in TSM 1. Any operation applied to a group effects all of its subgroups unless overridden by a different operation on one of those subgroups.

My plan is still to make some videos to show you all of this but for now I hope this makes sense and you have a better feel for how TSM 2.0 will work. Again this is still all in Beta and some things may change. I also have no idea when a final version will be release. For more information on Trade Skill Master visit www.tradeskillmaster.com. If you enjoy these addons and would like to donate you can do so on their webpage as well.

Saturday, July 6, 2013

Back in Black and Testing TSM 2.0


After being on blogging hiatus for a while I am back and loaded with info! As always real life is busy and my wife and I are expecting baby number 2 in October so World of Warcraft and blogging has slipped through the cracks a bit. But enough about me. Lets talk TSM 2.0.

First, if you don't know TSM or Trade Skill Master is an auction house addon which helps to automate posting and canceling auctions as well as crafting, mailing, tracking items between your alts and much more. Currently version 1.6.4 is available for public release and can be downloaded from curse.com or traskeskillmaster.com.

Version 2.0 which is currently in beta and can be obtained by invite only from the TSM devs brings all that same functionality and much more to the table but done with more elegance. For a break down of some of the key features take a look at a post by Phatlewts of Phatlewtsgold.com. He gives you a nice teaser with some of the key features.

To give you a quick summary, the way TSM 2.0 works is you create groups, put items in these groups, and then create operations for each group to handle different tasks such as posting/canceling auctions, mailing, crafting, and warehousing. These operations can be created and added to any group.

Today I want to go over some of the other features Phatlewts doesn't mention or that were not in TSM at the time of his post and my impressions of the addon so far.

There are two main features I want to address because I love them so much. First is reset scans. When creating a auctioning operation for a group you will have for tabs along the top of the operation window, General, Post, Cancel, and Reset. The General tab will set up the name of the operation and some general rules about it. The post tab is to set your minimum, normal, and maximum prices for the items as well as undercutting rules, stack sizes, post cap and other such rules that you may know from TSM 1. The Cancel tab lets you set the parameters for when you want to cancel an auction.


The reset tab is the one that I really love though. Here you can choose to enable reset scans and setup your rules.



  • First set the maximum quantity of the item you are willing to buy in order to do a reset. 
  • Then set the maximum amount of gold you are willing to spend to reset that item. 
  • Next set the minimum profit you want to make per item.
  • Set you price resolution which is a variance in price where an item is considered at the same "price level". For example if you set the price resolution to 1silver an auction at 20g50s20c and an auction at 20g49s45c will bot be considered to be the same price level.
  • Last Set your maximum cost per item. This is the max price you are willing to spend on any one item to reset it.
Once you have this setup in the operation and apply the operation to a group you can then use it at the auction house. You will notice that there are three different scan buttons, "Start Post Scan", "Start Cancel Scan", and "Start Reset Scan". Clicking the "Start Reset Scan" button will run and reset operations you have set. In my case here I am running one for MOP Rare gems.


You can see here that it has returned one result for Steady Wild Jade. There are 6 of them and if I buy them all I will be spending 57g,44s,96c. I will be posting them at 300g for a profit of 290g 42s 50c per gem. I can clicj the buyout button on the botton to buy them out or I can add that buyout button to my normal TSM ctrl-mouse wheel macro that I use for post and cancel scans. Then I can collect them from my mail and repost for profit!




This a very nice and very time saving feature. I think it is particularly useful for markets like gems and glyphs but you can use it anywhere.

The next feature I want to talk about is perhaps one of my favorite and most anticipated. Cross account syncing. If, like me, you use multiple accounts this is a fantastic feature. I craft on one account and send my items to an alt to post for me on a second account. The problem is my crafter's account has no way to know what my seller has in inventory in order to automatically queue the items I need to craft  so I can restock. In TSM 1.x the best method was to use datastore instead of TSM's built in item tracker and use altaholic's cross account feature to sync inventories. The biggest problem with this method was that you had to manual start a sync every time in order to keep your data accurate. TSM 2.0 introduces a method that automatically syncs the data across your accounts in real time. The only restriction is that you must have both accounts logged in for it to work. However, this is a huge time saver and the feature is working great.

To start you open TSM on both accounts and under the main status page go to the options tab. Here you will see "Multi-Account Setttings". All you have to do is simply enter the name of the character you are currently logged into on Account B into this field on Account A, and enter the name of the character on  Account A that you are logged into in the field on Account B. Hit enter on each and the window will close.




You will get a notification that the accounts are syncing. You do not have to do this for each character. Once you do it once all character on each account will start to sync. Any new characters you create will start syncing once you log into them for the first time. Its that easy!


Now you can do your restocking with ease or check to see what character has that item you are looking for with ease. Though not yet implemented, this feature will also sync crafting costs across the accounts as well. With this you will be able to post using % of crafting cost on your posting toon that does not have the profession of the item you are posting. I hope to see this implemented in the near future.

These are just two of the many feature that the Sapu, Bart, and the TSM team are working on. I can not say when the addon will be ready as i don't know. It will be done when it is done. I can tell you that the TSM team is working hard on this every day. They are taking the beta tester's feedback and making improvements daily. On some days I see 4 or 5 updates to the addon. I can assure you that when it is ready you will be most impressed. In the mean time keep your ears and eyes open for more news from myself and other bloggers that are testing it.

You can visit the consortium forums for more information as well as tradeskillmaster.com. There is also an IRC channel where you can ask questions and make suggestions if you like. Also, if you enjoy the addon you can consider donating at there website!


Wednesday, May 29, 2013

Calculating Enchanting Material Costs & The Enchantment Shuffle

In Mists of Pandaria we were introduced to 4 new types of enchanting materials: Sha Crystals (epic), Ethereal Shard (and Small Ethereal Shard) (rare), Mysterious Essence (uncommon), and Spirit Dust (common). We were also given a way to convert these mats to and from each other. For instance you could use 5 spirit dust to create 1 Mysterious Essence, or you could use 1 Mysterious essence to create 3 Spirit Dust. As you can see its not an even conversion going down from the more rare mats to the more common mats. For this reason its a bit harder to just set up a shopping list or dealfinding list in Trade Skill Master with percentages. Due to this I decided to make a simple calculator which you can enter in each materials current AH value (or what ever value you wish) to calculate material costs so you can maximize your enchanting profits or simply shuffle enchanting mats for profit.

I based my design of this calculator off of Jim Younkin's Simple Living Steel Calculator but modified for enchanting mats. The basis of Jim's Calculator is to figure out what is the cheapest way to make a living steel given current mat costs. My calculator differs in that any enchanting mat can be turned into any other enchanting mat using a series of enchanting spells, so the calculator will tell you the cost to make these conversions.

To use the calculator simply enter the current value of each of the materials in the top row. The Calculator will then due the rest. You simply look for the material you want on the left and read across its row to find the cheapest solution. So if you look at the screenshot below, if you wanted to know the cheapest way to make a Sha Crystal given the prices I entered from my AH you would see that the current AH value of a Sha Crystal is 380g. To make one from Ethereal Shards it would cost you 227g15s. To make it from Mysterious Essence it would cost 609g75s (5 Mysterious Essence per shard and 5 shards per Crystal) and so on.



As I said above this spreedsheet servers 2 purposes. First being to find the cheapest way to get the materials for your enchant (not including disenchanting which you could run a TSM destroying scan for) and second to simply shuffle materials from one type to another to profit in the AH.

Download the Calculator
Here is the link to the Claculator.  This link will open in for you in Google Docs. Once open you can download it via the file menu.

I hope some of you find this useful. I will try to get a youtube video up with the basic instructions as well but it should be simple enough to use. Good Luck!

-Erogroth

Thursday, May 23, 2013

Weekly Recap 5/13 - 5/19. Better Late then Never

This weeks review comes a bit late in the week due to real life getting in the way once again. But it was to wonderful a week not to do a write up. So here we go!



First and foremost this week I hit Goldcap! If you have been following I did a big write up on that already so I won't go into too much detail but needless to say it was the highlight of my week. To top it off, the day I hit it was my biggest sales day since I started tracking gold on a daily basis.



I got into the gem market pretty heavily and it has paid off. I am much more comfortable now with pricing and strategy for posting and resetting markets. I have had some great help from several members of the IRC channel and profits are up! I do have some heavy competition for one person in the gem market but I don't mind it so much. He is obviously a smart seller and knows what he is doing and I appreciate the challenge. I am not sure if he feels the same way about me but I think it makes it more interesting and I definitely respect him/her. I try not to be too big a jerk and I will back off at some point once I am happy with my numbers and let him/her have the market for the day. So far they still remain aggressive but as I said, it makes things interesting.

I also leveled up my tailor this week. Although he is still level 80 I am able to get out to the Silken Fields everyday and do my cool down. I have been making the crafted dreadful gear to get my last few skill points and have been trying to sell them.

Blacksmithing is still keeping steady. Some days are bigger than others but for the most part I can rely on at least 5000g on a bad day.

So I have been growing my business. Expanding into new markets and testing out some new strategies. I am investing heavily again, mostly in ghost iron to support my blacksmithing and JC sales and I am even getting a bit of a stock pile.

Stay tuned this week for some new posts I am working on. As I learn new things I like to share them with you so hopefully you can benefit as well. Good Luck all!

-Erogroth

Wednesday, May 15, 2013

One Million Gold. Reflecting On My Journey To Gold Cap


One Million Gold! Back in August of 2012 I set a goal for myself to hit gold cap. Today I have reached that goal. The past 10 months have been amazing and changed not only the way I play World of Warcraft but has changed my life as well. I want to take this moment to reflect on my journey and share with you some of my thoughts.

When I started out in gold making it was more of something I wanted to see if I could do. An in game friend told me about some of the transmog gear that he was selling and I was surprised at how much money he was making. I did some googling and came across an article about Keelhaul (A.K.A. The Mogfather) and how he had made a million gold in just 45 days. This lead me to powerwordgold.net where I began to learn some of the basics of gold making.

Now I am the type of person that when I find something I like I get very into it. Soon I began finding other gold blogs and eventually the consortium. Here I found so many ideas and resources I was overwhelmed. This was where the pros came and where new gold making strategies are forged. I had found a wonderful and thriving community and I wanted to be a part of it.

I slowly began making gold in flipping markets and did a little bit of crafting. I was still trying to find my footing and understand how the auction house game works. I began using new addons like Autioneer and eventually Trade Skill Master. I started seeing results and felt all the more encouraged. When I hit the 200,000 gold mark I purchased the Grand Expedition Yak I saw this as an investment to save time while killing mobs with Potions of Treasure Finding and Potions of Luck but it was a fun splurge too. Can't say I regret it. I also picked up the Vial of the Sands mount and a Ruby Panther mount.  What can I say, I like mounts.

A few fun splurges aside, I continued to watch my bank roll grow. I started listening to the Power Word Gold Podcast which I enjoyed but I found myself wanting to listen to more podcasts about wow. I began listening to The Instance and All Things Azeroth. These too were awesome podcasts but I found myself getting addicted to them and wanted more. Then one day, Rho posted a link to his podcast livestream guide on Realm Maintenance. Suddenly I found myself in live streams listening to these shows. This is where I feel things took a turn for the better for me.

I was introduced to this amazing community of people. They put on these wonderful shows, interacted with their audiences and made me feel at home. Shows like The Chaos Portal, Tauren Think Tank, Holy Shatt and so many others became a regular hang out for me. Though this has little to do with my gold making, it was my journey into gold making that brought me here. I want to thank all those people from the podcast community for what they do and let them know they not only are entertaining but make a difference in peoples lives. Please keep doing what you do.

Through all this I continued trudging my way through. Sometime in February two things happened. I hit 500,000g and I meant a wonderful person whom has become a good friend, Profitz (wowprofitz.com). He started his blog and put out his first podcast, The Cross Realm, and in episode 1 he talked mostly about how he got into gold making and what he was doing with it and his plans for the future. I find myself listening to him and thinking "this is totally my own story". I contacted him and we began chatting on a regular basis. He asked me to be on his podcast as his first guest and I was more than excited to do so. Profitz started an IRC channel to bring some of the community together. There was already a gold making IRC channel at the consortium but the idea of this channel was not to just talk about gold but to bring the community together. At first it was Profitz and I and maybe one or 2 others. But then it began to grow and grow. Today we have around 20 people in the channel on any given day (maybe more) and we have many regulars. Through the channel I have made so many friends. People like GoblinRaset, Thairus, Rennick, PhatLewts, Ayshayz, Socowow, and so many more. We even have been joined by a Consortium Wind Trader, Mithrildar who has been a huge help to me in the past week, with fine tuning my jewel crafting and gem selling. These people are all amazing, fantastic individuals who I count as friends. I have made more friends in the past 4 months of playing WoW then in all my 8 years. So again, a special thank you to Profitz for setting up that channel and to all the people who are a part of it.

As my climb to Gold cap continued I finally decided to expand into new markets. I had only been flipping greens and transmog, and doing my Blacksmithing as I only had one level 90. I got my rogue leveled up and picked up JC and Alchemy and started getting my feet wet in new markets. I enjoyed the challenge and the extra income. Then Jim Younkin of Power Word Gold asked me to come on his show as a guest. I was more then happy to do so and afterwards he asked if I would like to co-host. I had been wanting to get into podcasting for some time and this seemed like a fantastic opportunity to do so. I have done several episodes now and the listeners have given me some wonderful feedback. So thank you Jim and the listeners for your support.

The cap came closer and closer. I was over 700,000 when I finally got off my butt and started this blog. I love doing this. Even if no one ever reads this I get to put my thoughts out there and it feels good. So for those of you who do read it, thank you. It means a lot to me. I began tracking my sales with the blog and was able to really break things down. I love that I do this now and recommend it to others. I ended my last week at 968,558 gold. It was time for the home stretch!

This week started off strong. I had nearly 19,000 in sales on Monday bringing me up to 983,686. I figured I would hit cap by Wednesday at the latest. However Tuesday turned out to be one of my biggest sales days to date. I sold a ton of blacksmithing items and my gem sales just blew up. I ended up with over 26,000 gold in sales, more then enough to put me over!




When I realized that I had done it, I just sat there with a smile on my face. It was late at night so most of the IRC people had logged off and my wife just doesn't care about wow. Luckily at least GoblinRaset was around for me to talk to. Thanks Goblin! I had promised I would live stream the actual collecting of the Gold which I did today. I am happy to say that as of the writing of this post I am sitting at 1,006,576 gold!



Everyone keeps asking how it feels. Well, it feels good. Damn good! But accomplishing your goals always does. Now I need to set a new goal. So I am making a push for 2 million gold. Once I am there I will wait for Mimiron's head to show on the BMAH and snag that up! I would like to try to hit the two million mark in 5 months, half the time it took me to hit one million. I think at the rate I have been going, I can do that. So here we go again!

Moving forward I want to make some changes. I read a great post this week by Zerohour and it made me think. I do not feel that I am providing my readers with anything original or something they can't get a million other places. I want to challenge not only myself but those of you who visit my blog. I want to do something different. That is easier said then done. So perhaps my posts will become more infrequent but I hope they will also become better quality. I want to hold myself to a higher standard. I hope you will help me do that.

My family is growing as well. My wife and I are expecting our second child in October so time will become a factor at some point. But for now I will continue to podcast and blog and make some gold. I have another project in mind as well but it will take some time and energy to get going. That is a limited resource for me but I really hope it comes to fruition.

So to wrap up this lengthy post, I want to thank you all again. Gold making may have been how this journey started but the people along the way is what made it memorable. Thank you so so much my friends!

-Erogroth

Monday, May 13, 2013

Weekly recap 4/6 - 5/12 Investing big for profit





Another week gone by and crazy week at that. Originally I planned to be gold capped by now but a plan is just a list of things that never actually happens (Way of the Gun). Instead I took the advice of some friends and spent some money to level Alchemy and did some investing.

This past week I talked about how my sales of slowed down and reflected about how to deal with it. I talked about expanding into new markets, invested into materials that would turn a nice profit and lowered some of my prices. I am happy to say it all paid off.

For starters I leveled Alchemy without the aid of herbalism. Phatlewts has made a case for herbalism not being worth it and so I bought all the mats. I went the route of a transmute master for the living steel transmute and to assist with Jewelcrafting and the shuffle. As part of this I needed to purchase a few living steel bars for the quest turn in. I spammed trade chat for them and got a response. A brief conversation with this person ended with me buying 100 living steel bars at 350g/bar. That is a great price for my server and I have been flipping them as belt buckles all week. I was very excited about this investment. I also picked up a good supply of Golden lotus to start transmuting gems. On Tuesday alone I spent over 45,000 gold and another 16,000 on Wednesday.  But these were all smart investments in my opinion and will pay off.

My blacksmithing sales had been taking a hit as well. I decided to drop my prices. The 950g fallback was working well when the Crafted Dreadful gear first came out and not everyone had the patterns. Now someone takes a look at that price and decides they rather wait for a guildie to craft it. So I set up my groups like I have my other blacksmithing gear. I broke it up by the number of bars it takes to craft and dropped the price to a point where I felt buyers would be willing to pay but I still make a pretty profit. I hit a home run on this one. I have been getting good sales almost everyday. In fact I think this moved saved my week and kept me in the green. I ended up 16,000 gold in the green this week after all that spending. Not a huge week but much better than the last 2 weeks.



All in all I had a really good week. I made some investments that I am excited about and I think will return nicely. My new blacksmith prices are paying off as well and i am getting more heavily invested into the jewelcrafting market thanks to being able to transmute gems. Too top it all off I found a supplier for Ghost Iron Ore and a great price. I am looking forward to seeing what this next week will bring. I am expecting to hit gold cap tomorrow or Wednesday at the latest. I plan to livestream when I hit gold cap so follow my twitch account (twitch.tv/erogroth) to get notified of when I go live if you want to be there. This week I plan to go all out in Jewelcrafting and see if I can make a real profit. I have some heavy competition but I think I can make a good dent in the market.

Keep the Gold Folwing

-Erogroth

Monday, May 6, 2013

The Challenges of Mid to Low Pop servers and gold making


I have been playing on the same server since my very first day of World Of Warcraft back in 2004. I love my server. It is home to me. Back in those days we had top end raiding guilds. There were people everywhere and I would stand in Orgrimmar and look at people all decked out in blues and the occasional purple item. Towards the end of Vanilla, before BC you would even seen the occasional legendary item (including on yours truly!). Ah the good old days. Fast forward nine years and my server has changed. There are no top end raiding guilds anymore. There are a few that do heroics but nothing in the top 100. The Alliance side is twice the population of the Horde (although it has always been an Alliance heavy server) with a Horde population of only around 30k. So what has happened?

What caused this change? What happened to everyone? Where have they all gone? I think there are several factors here. First, the game is nine years old! Some people have just moved on. Some people either grew up and got jobs and wives or husbands, kids and other responsibilities that just took away the time they have to play wow. Some people just got board. Others have hopped ship to other servers. Looking through my realm's forums today I saw 2 big guilds heading for other servers.

So how does this effect gold making? The short answer is less customers means less gold. Now I do feel that I am still closer to the medium population side of things as apposed to the low population but it is kind of border line. Regardless, when you are in this position, you face certain challenges. Recently I have become a big fan of the Low Pop WoW podcast which talks about many of the challenges faced by players on low population servers. On Episode 4 they had several popular gold makers on to talk turkey (or gold). I found this episode very informative. Profitz of Wowprofitz.com has even been working on a project called "Rags to Riches" which is him trying to make as much gold as he can on the second lowest population server in the US in 30 one hour episodes. He has found it much more challenging then he expected and I too was surprised at how much trouble he has had. It actually made me appreciate my server that much more. That aside, I have been facing some challenges of my own lately.

Over the past few weeks I have been tracking my sales and I have noticed a decline in my total weekly numbers each week. The thing is, I have faced less competition in the AH. I have nearly gained full control of my main market which is plate pvp and pve crafted gear. I get undercut very little and most if my items are posting at fall back. However I have not been getting sales.

I am thinking one cause may be that some people may be getting to that point of burn out with the expansion or at least with this patch. Also summer is approaching and many people may be enjoying the outdoors more. School too is coming to a close for many people so they are busy studying for and taking final exams. I could be wrong but I think historically this is just a slow time of year for wow. Many people seems to take the summer off from playing. On a lower population server this takes a larger toll on the economy.



So how to survive this wow recession. I think the best thing to do is expand. Be it the fact that people are taking time off or you are on a low population server, expanding into more markets is not a bad idea. I need to start pushing into more markets myself. If one market is doing bad perhaps another is doing well. At the very least, selling only 3 items a day in 6 markets is better then only selling 3 items a day in one market. I have said in the past that in the beginning you should focus on one or two markets and really get to know them, and if you are new to gold making this holds true. Once you feel comfortable with these markets though you can take that knowledge and move into more markets. The lessons you learned from your first markets will carry over and you should adapt more quickly to the next.

If the lack of sales are holding true for others on my server I should start to see price drops which will hopefully carry over to raw mats. If this is the case it could be a good time to stockpile these raw mats and turn them into a nice profit later on. Come fall people will come back to the game. By then we should see the final major patch which will include the raid of Orgrimmar and people will want to play again. No matter the population of your server you should see an increase in sales at that point. Also, in patch 5.3 Blizzard will introduce a reduced experience requirement for leveling through Pandaria. I will take advantage of this to level alts and professions.

So all hope in not lost during these slow times. Use the time wisely and invest and you will see returns at the right time. This is just the nature of any economy. If you are on a low population server you do have one advantage, less competition. Take advantage of that fact and force out the little guys from your market. Undercut aggressively and control your markets to maximize profits. If you can't get tons of sales, at least get the ones you can and try to get the most out of them. Don't set your prices too high but don't sell yourself short and set them too low either.

There are times when things can look bleak and you may think about transferring. But if you are like me, you love your server and don't want to leave. Also the cost of transferring 11 toons is a bit much. So hang in there, invest wisely, expand, and try to control some markets. The gold is out there, you just need to grab it.

Good luck and keep the gold flowing.

-Erogroth

Week 4 Recap and Month 1 Review


Wow! What a crazy month. This post marks one month since I began blogging and a lot has happened. I have become not only a blogger but a podcaster as well and have approached the mark of WoW millionaire! I have had big sales days I couldn't believe and small sales days I couldn't explain. You all have joined me on this little journey so lets step back and have a look at this past month.

Lets start by taking a look at week 4. This is the third week I have tracked my sales on a day by day basis in a spreed sheet so I can look back and see any patterns and big days. This has been a fantastic tool. I love doing this and encourage anyone else who is making gold to do the same. It really is nice to be able to see those numbers. I think over the long run I will really be able to see some patterns emerge and be able to predict sales better. This week however has been pretty lame.

The week started off normal enough. Monday was a bit slow and I was busy. I didn't bother collecting my gold that day and just combined it with Tuesday as you can see from the spreed sheet below. I averaged around 5k a day for those first 2 days and pulled in just over 9k on Wednesday. Thursday saw a dip in sales but looking back at my numbers from the previous two weeks Thursday is never great. Friday picked up a bit but was still slower then I am used to for a Friday. The weekend however hit me hard.



Saturday is usually one of my biggest days of the week. I had a wedding to go to and a lot of plans so I spent some time in the morning doing some investing and getting ready for the day. I purchased 2 stacks of golden lotus and transmuted a bunch of gems. Got all the cuts I wanted to sell posted. I had stopped learning new recipes from Lighting Ingots as I had learned them all and so I had them all posted. I restocked my greens and re-posted everything. I was ready for the big day. It never came. I ended up with only 6,500g in sales and had spent 5,762g on mats and posting costs netting me only 751g on the day! Ouch!!! I was never undercut very much on my blacksmithing stuff and kept up via the phone app but the sales just did not come.

Sunday brought in the Darkmoon Faire and I got my auctions up for that. I sold 4 items there but that was all. My JC did mange a handful of sales but my blacksmith busted again with only 1 sale the whole day.

In the end I only had 51k in gross sales and 35,500g in net income. Not my best week. I did break the 950k mark but didn't push past it much. All in all it was a pretty sad week.

As for the month, I think it was pretty successful. I saw some big milestones with the 700k, 800k, 900k and now 950k marks. I started out in some new markets and have seen some success. Thanks to the folks in the IRC channel I have come up with some pricing for buying my gems that I like.

Also, now that I have learned all the new patterns that I can with Lighting Steel Ingots I don't need to keep making them. I have more than enough to make a weapon but I am lacking the Spirits of Harmony. I keep using them to make smaller weapons that I think have a better profit margin.

I continue my quest to master the gem market. I am still learning new cuts but now that I have my pricing down I am getting into the groove. I plan to level my Alchemy on that toon as well so I can start transmuting gems and living steel.

On the whole I really enjoyed this past month. Real life has been especially busy the past two weeks but I am hoping that will calm down now and I can get more focused. I want to write more and get into some live streaming. But first I really want to hit gold cap this week. I think it will happen and when it does I will live stream it. So keep watching and be ready for some big stuff to come!

Keep the gold flowing

-Erogroth

Tuesday, April 30, 2013

Week 3 Recap Real Life is Up. Sales are Down.

Well week 3 came to a close for me on Sunday and I am just getting around to writing this today. That should give you some indication as to how busy my week had been. Real life took over and my time with WoW, my blog, and gold making have all suffered.

I had (and still have) some out of town guests staying with me so that has been a big part of my busy schedule. We celebrated my daughter's 2nd birthday (again) on Saturday and work had been crazy busy. These are all good things but I have seen a direct impact on my sales. I came in this week 10k less in gross sales and 15k less in net profit so while I still had an ok week it wasn't where I would want to be.



On the bright side, I did break the 900k marker this week which was fantastic. I also participated in "The Happy Hour Round Table Podcast" hosted by Golbinraset along with guests Jim Younkin of Powerwordgold.net, Profitz of wowprofitz.com, Phat Lewts of Phatlewtsgold.net, and Thairus of wowcreativeaccounting.blogspot.com which was a ton of fun.

I can't say I broke into any new markets over the past week but I did attempt to revive one. During the last episode of the Power Word: Gold Podcast Jim had attempted to help me with fixing my lack of sales in the 77-80/83-84 green market. He suggested that I start buying more often to keep the market clear of cheap items that my potential customers may be buying instead of buying my items. I have seen a sure increase in sales due to this. My sales still are not bringing in as much gold as I would like but my server is somewhat low pop on the Horde side (around 30k players) so that is to be expected. I also think that once 5.3 comes out and people are raiding less and have cleared the new quest and daily content they will start working on alts again. This, along with the lessened XP requirement to level from 85-90 should help my sales greatly. Time will tell.

As to my Blacksmithing and JC sales, both are chugging along. I am getting a much better feel for the JC market and I am seeing some nice returns. Blacksmithing continues to bring in a lot of gold for me but the past few days have been a bit slower then I am used to. I am not worried though. That will turn around soon enough. I think the odd number patches my actually help those sales. Blizz seems to be giving world PvP a bit more focus on these patches which I think will help my PvP armor sales on my PvE server.

In conclusion, I want to appologize to my readers for not getting any new content out on the site this past week. So far, this week is proving to be busy as well but I do have some ideas I want to get out to you. Real life has to take precedence to WoW but I do love doing this stuff for you guys so thank you for reading and listening. Keep the gold flowing!

-Erogroth

Tuesday, April 23, 2013

Week 2 Recap: 4/15/13-4/23/13. Things are looking up!


EDIT: Do to an error on my part I had an extra day calculated into my weekly numbers resulting in an extra 10k in sales on this weeks numbers. I removed it and put it towards the next weeks numbers and updated the image below and my numbers in the post. Crazy how the days just run together. I will be tracking my weeks as Monday-Sunday so as to keep the weekends grouped. Thanks. -Erogroth

The second week of my blog has come to a close. I have been at the gold making game since the tail end of Cata but I really just started keeping track of my sales closely with the start of the blog. This week I started a nice spread sheet which tracks my daily gross income, net income, gold spent, and starting and ending gold. I really like doing this as I can get a nice break down and hopefully over time I will see some trends on what days are my best and worst. I could even use TSM to look at those days and see what I am selling so I can focus on certain markets on certain days. Take a look at the sales for this week.



One ongoing issue I have been having which continued this week was my drop in my  77-80 and 83-84 green sales. For those of you who don't know what this market is, it is the buying and reselling of Cataclysm level 77-80 uncommon armor and weapons and MOP 83-84 uncommon armor and weapons. These sell well do to the fact that they can be used while leveling through the item's previous expansion pack (wrath for the 77-80, and cata for the 83-84) and provide a much higher item level then can be obtained from the gear that a player would see while leveling though that content.

This was one of the first markets I got into when I started gold making and I made my first 200,000 gold this way. Recently I have seen a major decline in sales. I have tried lowering my prices but that has not helped much and I have been at a loss as to what the problem is. I finally think I may have figured it out however.

As many of you know, Jim Younkin of Powerwordgold.net has asked me to co-host the Powerword: Gold Podcast. Now besides the fact that I get to co-host my favorite podcast one of the biggest advantages to this is some of the conversations I have with Jim. After we finished recording Episode 60 this week we had a little chat about my problem. As I have expanded into other markets I have lost focus on the leveling greens market. As such I have done less buying. Since I am not buying the cheap items to flip my potential customers are. Therefore my items sit. Also since I have seen a decrease in sales I also have not been as motivated to buy. This has snowballed on me and hurt my sales. Jim suggested that I start buying on a regular basis again. Even if that means vendoring items that I have too many of just to get them out of the market. I will take a small loss when I buy and vendor but the sales I get will more then make up for it.

Now you may be saying "Well, why not just DE them?" I had the same question. As it turns out I can vendor these items for around 12g or so. If I was to DE them I would get 2-3 spirit dust on average. The dust I can buy for around 2-3 gold each (sometimes less). So vendoring these items and buying the enchanting mats is actually the better way to go! If you want to hear this conversation we included it as a "bonus track" at the end of the podcast. It was very helpful for me and I hope to see some results this week.

Aside from that, I have been getting more into Jewelcrafting this week and have seen some nice results. As you can see from the spreadsheet above, I had two of my best days back to back. Now 4k is not a huge day but I am still not selling a lot of gems. I am more focused on learning my cuts right now. One change I am making, it that I am using The Undermine Journal (TUJ) to see what gems are the cheapest (usually River's Heart) and using those to learn my cuts. Once you learn all the cuts of the color you will start learning a random cut from another color. Since River's hear cuts don't sell well anyway this seems the best method to go. I am also using TUJ to see what cuts are selling the best and those are the ones I just to cut and sell. To see this page go to TUJ, choose your faction and server, then go to "Crafted" and then "Jewelcrafting". The page that comes up is full of useful information to maximize your profits in jewelcrafting.

My Blacksmithing continues to go well and is my biggest money maker. My competition seems to have given up or more likely taken a break. I have noticed that he will be around for a few weeks then disappear for a few weeks. So I am just I will be seeing him again soon but for now I will enjoy owning my market.

I also started livestreaming this week on twitch (twitch.tv/erogroth). With my work and family schedule its hard to find time to stream but I will try to do so once or twice a week at least. So stop by the channel and follow so you get notified when I go live.

All in all it was a good week. I had nearly 90,000 gold in gross sales, nearly 80,000 gold in net profit, and broke the 800,000 mark (and the 850,000 mark). I am on track for gold cap in the next 2 - 3 weeks. So stay tuned and lets see what happens.
 

Friday, April 19, 2013

Determining Market Value



So, there you are in the AH and you have all this stuff to sell. But how much should you sell it for? You don't want to under price it and lose out on potential gold but you don't want to over price it and have it just sit there and not sell. What to do?

Determining the value of your item can be one of the trickiest parts of the auction house game. Luckily there are many tools to help along with some common sense.

Tools of the Trade
First, of course there are addons. Auctioneer and Tradeskill Master (TSM) both have a scan feature that will scan the AH for you and build a database of prices. The more often these scans are run the more accurate your data becomes. I prefer TSM for this as they now have an application which runs on your computer and automatically scans the AH every hour and loads the information to the addon for you. This happens regardless of if you are playing WoW or not. As long as you leave the application running you will get a scan every hour 24 hours a day. This allows you to get very updated pricing easily.



Also you have websites such as The Undermine Journal and Wowuction which both scan the AH the same way and will give you pricing. The nice thing with these sites is they scan all realms and factions so you get a broad view of pricing. If there is a more rare item that hasn't been on your AH much you can still get a relatively accurate price. The Undermine Journal also offers an in-game addon, TUJ GE, which will work with your tooltips, TSM, and Actionator to give you global pricing. You can even setup TSM to price items based on a percentage of the TUJ GE prices.


Having these tools will allow you to determine if an item is being underpirced or overpriced and you can decide if you want to undercut, or price higher. In some cases you may want to buyout your competition and reset the market. These tools should be used as a guideline but you can also determine prices on your own.

How to determine prices on your own.
There are two main ways to determining prices. First is the cost of the materials.  This is another area where TSM can be useful. Setting up TSM crafting will tell you the material cost of the item being crafted and how much profit you will make based on AH value. You do have to set this up as well as you do with anything in TSM and I will point you to Faid's videos on clockworkriot.com to do so, but this is a very effective way of doing things. Of course you could look at the cost of the mats in the AH and bust out your trusty calculator and figure it out that way as well.

Now, you may be saying "Well I farm my mats so it doesn't cost me anything". Wrong. Time is the most valuable commodity there is. What is your time worth to you? If your answer is "not much" that's fine but lets look at some other factors. Lets say you are going to craft a piece of plate armor that takes 10 ghost iron bars. You say "well I have all the mats from farming so it didn't cost me anything. I will sell it for 90g." This may have just cost you money. Take a look at what ghost iron bars are selling for. If they are selling for more then 9g per bar you could have sold the mats for a better profit. The point here is that it doesn't matter how you came across your mats, their value in the AH still determine the price you should sell your end product for, or rather what you shouldn't sell your end product for. So what do you sell it for?

This brings us to our second way to determine value. The market. Now above we talked about how addons can calculate market price for us but what is "the market"? "The market" is the economy around the products being sold. Supply and demand! Remember that term from high school? Basically the main two factors that determine the price of an item or the supply of that item and the demand of the buyers for it. So the big answer to the question of "what is an item worth?" is, it is worth whatever someone is willing to pay for it

If there are 20 of any given item on the AH, chances are it is not selling well and people are dropping the price. The market has become "flooded". If there are few or better yet none of the item you want to sell, you get to set the price. In this case I would say start high. How high? Well consult the addons and get a "market price" and then go a bit higher. In the case of our plate piece that took 10 Ghost Iron bars, lets say the "market price" is 650g. Post your auction at 900g. If its the only one and someone wants it bad enough they will buy it. If someone else has one up for 950g and its the only one, undercut them by 1 copper. Keep the price high. Don't drop it to 900g or lower. Selling it for 700g isn't going to make it sell any faster then if you had it for 949g 99s 99c. Someone is just going to buy the one that is the lowest price as long as the prices are not ridiculously high (3000g).

Put it to practice
There is always a breaking point when an item becomes "over priced" but unless its obviously way over let the buyers decide what that point is. Play with your prices. Start high and lower them 25g at a time till you find a good spot. Also, ever wonder why when you go to the store something is priced at $499 instead of $500? Because it looks more appealing. Try pricing your items 1 copper below a round number and see if it sells. Take your time and learn your markets. As appealing as a "quick sale" sounds, underpricing your items is not always to your benefit. You could be getting the same sales at a higher price point.

Good luck and keep the gold flowing!

-Erogroth

Monday, April 15, 2013

Week 1 Recap


So the end of my first week as a Gold Blogger has come to an end. I thought I would take a minute and go over some of this week's highlights in gold making and what I have learned.

First, I am happy to say that Jim Younkin of Powerwordgold.net has invited me to be his co-host on the Powerword: Gold Podcast. I was very excited and honored and have accepted the role. Jim's podcast was the first podcast I ever listened to and it got me more into not only gold making but the podcast community. I now enjoy many great World of Warcraft podcasts every week and enjoy talking to those that put on these wonderful shows. So thank you Jim for having me and thank you to the community for being so great!

Now, on to the meat! One thing I started doing this week was tracking my daily gold totals and posting it on my blog. I got this idea from Wowprofitz of wowprofitz.com blog. This is a fun way to see how I am doing on a daily and weekly basis. Its also allowing me to see how much I am grossing on a day and how much I net. Moving forward I am going to start a spread sheet that each day I will enter my gross sales, net profit, and large purchases in. I will make the spreed sheet viewable on my site as well so you can see all my income over the long haul and what I am spending my money on.

Moving onto markets I have learned a few things as well. First, my 77-80.83-84 green sales have been down lately. I lowered my prices a bit this weekend and I saw at least a small increase in sales. I will see how this plays out over the course of the week. It is possible that I am not controlling the market like i used to either. I have not been purchasing as much in the way of greens so maybe the cheap stuff is being bought up and my stuff is rotting on the shelf. I plan to break down my green sales in more depth and see if I can find some patterns in what is and is not selling and make some adjustments. This market is one of my favorites and I refuse to believe it is dead.

Blacksmithing remains my staple of gold making. As I learn more of the Crafted Dreadful patterns I am getting more sales. These items will easily sell at my fallback price of 950g. The only problem I am running into is people underpricing them as low as 125g. With ghost iron bars at 8g-10g each these days there is little to no profit to be made when this happens. Lucky for me I pay much less for my mats and can maintain a decent profit margin but I believe these people are falling victim to the mentality of "since I farmed the mats myself it didn't cost me anything".  Sadly this is not true as "time is money friend!"



Jewelcrafting is my newest market. I am still testing the waters and pricing based on market value rather then a set gold amount. The competition is not nearly as bad as I though it would be but of course there is at least one person who seems to "own" the market that I have to compete with. Still I am managing sales and getting a feel. I am still more focused on learning new cuts rather then posting gems but I am getting there. I do like it a lot though. I will have more to say on JC as time goes on and I find my footing in this market.

Last, I am now posting auctions on four characters. This is all well and good but can be bothersome. Also I don't like camping the AH when I could be playing. I do have a second account that is sitting there not doing much so I may combined all my auctions to one alt who I can park at the AH on one account while I enjoy the game on my other. If sales come in and I need to restock I can make the items and mail them out on the fly. Plus collecting at the end of the day will be easier.

So there you have it. My first week as a blogger and podcaster. Feel free to send me comments and feedback as I am always glad to hear from the community. Thanks all and keep the gold flowing!

-Erogroth

Thursday, April 11, 2013

Great Deals For Big Bucks

I originally posted this on The Powerwordgold Hatchery but now that I have my own blog up I wanted to repost it here. Thank you to Jim Younkin for supporting me and posting my first ever articles.




There are many ways to make gold in World of Warcraft. One of the easiest is to flip items. Flipping is the process of buying items at a cheap price off the AH and then selling them (or flipping them) for a higher price. There are many items you can flip but one of my favorites is that of rare crafting patterns and recipes.  

There are many formulas, plans, patterns, and such in the game that have very low drop rates and thus sell very well. Many people are collectors of these items because they want to be able to craft every item in the game for their given profession. Despite being low level and having little use for resale of the actual crafted item these patterns and recipes sell for quite a bit. There are some that are not even in the game anymore but someone has had it sitting in an alt bank for the past 3 years and found it while cleaning house.

Elvine of www.elvinelol.com turned me on to many of these. He had a list of Auctionator Shopping lists which he put out with these items. I took the time to convert these to TSM Dealfinding lists which I use in combination with the TSM app to notify me if any of these items appear on the AH so I can scoop them up and flip them for some big profits.


The following are the TSM dealfinding list versions of Elvine's Auctionator Shopping lists found here.

I set the prices based on what I felt you could buy it at and make a profit. I basically used the undermine journal (www.underminejournal.com) global prices which you can also see on wowhead. Feel free to adjust based on what you feel is a good price for you.

If you need some instruction on importing dealfinding lists to TSM Jim of Powerwordgold.net has a great article here with instructions along with some more useful dealfinding lists or Elvine has one here as well. Enjoy!

Rare Formulas:
Code:
d1@22532/6000000,22548/5000000,11205/10000000,11151/10000000,11168/50000000,16245/2500000,37330/10000000,37331/10000000,37332/10000000,37333/10000000,37334/10000000,22542/3500000,28280/5000000,28279/5000000,11226/9500000,11203/4500000,11224/10000000,22541/10000000@
Rare Patterns:
Code:
d1@42177/3000000,24298/3000000,24299/4000000,24300/3000000,8384/10000000,24301/3000000,14507/7000000,4301/5000000,7452/10000000,14501/5000000,4298/3000000,14509/10000000,4356/70000000,14471/10000000,14510/10000000,4351/5000000,42178/3000000,4354/50000000,14511/10000000,14497/5000000,42172/3000000,42173/3000000,24296/3000000,42175/3000000,42176/3000000,24297/3000000@
Rare Plans:
Code:
d1@23632/20000000,23633/5000000,12716/7000000,12717/10000000,23637/6000000,12261/12000000,12711/3500000,7991/2000000,6046/6000000,12720/5000000,12728/3000000,22388/9000000,12698/5000000,22389/9000000,12692/5000000,22390/6000000,33186/8000000,12685/6000000@
Rare Recipes:
Code:
d1@13497/5000000,13487/5000000,13489/5000000,22913/2000000,13486/6000000,13488/6000000,9297/6000000,22914/3000000,22903/3000000,13518/5000000,22926/3000000,22904/3000000,22919/3000000,9296/6000000,22912/3000000,13491/5000000@
Rare Schematics:
Code:
d1@4411/7000000,16054/3000000,4415/3000000,23810/3000000,10608/3000000,16055/6000000,18655/3000000,16044/12000000,25887/5000000,23804/1000000,23802/1000000@
Recipes No Longer In Game:
Code:
d1@9367/50000000,18517/20000000,12824/25000000,18518/15000000,18519/20000000,12825/7000000,40110/20000000,18414/20000000,10463/50000000,13308/12000000,6476/10000000,4624/20000000,4597/12000000,12821/12000000,15751/20000000,21025/100000000,15729/20000000,38089/20000000,7678/200000000@