Phase 3: Profit !

Background

My bank was full of green gears and different level of cloth, and I finally gather enough strength to handle that.

I believe that many people share this problem with me, so after some price research, I started my business on recycling.

A Tailor and Enchanting Combo. I leveled my warlock to 50. Enough for the most profiting Netherweave bags and disenchanting for most of the outland gear. I may take another time to level her to 65, but well, after the 3.2 mount changes.
(This post was written @ August 1st. She’s on Level 63 now, and aiming for 68 for the shroud of tailoring…)

The Industry

Basically the industry goes like this…
Buy up cloth and green gear on AH and in Trade Channel, convert them into profitable product (e.g. Netherweave Bag, Robe of Arcane, Wedding Dress, Formal Dress for RP purpose) and enchant materials.

Buy In

Green gears and Cloth are the leftovers for leveling, after training first aid, the cloths is useless to most of the player.
Green gears serve no purpose other than upgrade for their gear, Lots of player want to get rid of these junk, quickly.

Many of them go into dusty bank/guild bank, or directly to NPC.
Others go into trade channel COD and AH. (Where I had gathered these materials)

Updates: The price of these materials on outland will drop soon, due to introduction of flying mount on 3.2, player will spend much lesser time and doing much lesser battle at outland.

Sell Out

On the other hand, The market consume large amount of enchanting materials for leveling it, every single person who annoyed by disenchanting gear, pours more gold into our pocket.
Nevertheless to said, Scroll of Enchants. ([Scroll of Enchant Boots - Minor Speed], anyone?)

Tailoring, [Netherweave Bag] [Frostweave Bag], sell like candy with Nicotine.

Summary

Tailor and Enchanting Combo not only synergy on leveling a lot, they also provide a stable decent profit. Worth a try if you are not into the complex Glyph market IMO.

P.s I thought I had writen this post long before, but it ends up sleeping on my draft stacks…. things pretty much didn’t change though (Other than my progress)

Thoughts and Blogs

Seems that I am facing a writer block recently (again), I hesitate to said much about my business in regular post, since there are nothing much to said.

The trading and setup tutorial are abundant and in good shape, and I don’t want to add yet another tutorial our there… Guess I should finish those draft I had now….

Blizzard Con

This worth its own session this week…
I am upset by the fact Goblins are on horde…
Arrgh, I want my Goblin banker Especially for the bank racial and discounts…
Anyway, got to live with it /. . with my Worgen banker (Sprint for AH to bank, Yoy)

Blogosphere

A new wowecon site by Basis had been born.
Story of his rags to rich, he’s quite thoughtful on many subject, Another RSS feed for my daily blog read. Good work there…

My Business

With the introduction of the QA2 into my system, Profit Sky rocketed. Instead of listing all auction out at one time, I can easily post them and in a much more efficient way.

For the record, I had made 5k solely on Glyph selling, and reach my 50k milestone.
(I kept running out of ink of the sea though…. and had even more time on playing with that setup)

Just a quick update on what I had observed.

As predicted by our fellow traders,
The price of outland drops had increased,

The Flying mount changed introduced on 3.2 reduced lots of fight on outland.
Effectively reduced lots of fight when player move from point A to point B.
Supply of Netherweave, Green gear, Leather had decreased dramatically, since they are side product of leveling.
I predict the price cooking ingredients will be increased too ….

(I suspect Primal, Herbs and Ore will be the same, since they’ll had dedicated farmers)

The Quick Auction Plugin never localized to my language, and thus I had never used to it before…

Which proved to be, a big mistake…

Today, I was having a cold and take a day off.
On the bed I recalled Belsebub had in his post

I take the time to localize the addon myself (more like a hack, since I only localized the part I needed)

and BANG,  it shocks me…
It address the most time consuming part in my glyph-making industry, stock checking, listing and undercutting (I don’t do it, since it’s too time consuming without QA).

The Cancel Auction part seems having some problem, I’ll take a closer look soon.

WIth some configuration, I guess I can be much more efficient on glyph market than before…

For anyone who didn’t tried the QA2, you should…

I am happy…

Although personally I dislike farming,

It is indeed a good place for starter’s gold.

Will got a nice article on his insightful spot for farming at wowconfidential

I would said it’s quite creative, and found a missing gem on the market. Which is the essence of a great trader. If you gotta farm, farm smart..

In his word…

It’s a video I made a few days ago which show how I make 700+gold/hour, one of my top methods of making gold:

It’s by farming Boar Ribs. I can farm 65/hour and sell them for 3.95g each.

A lot of people who power level cooking will buy mats up on the AH and for some reason Boar Ribs are in really low supply and high demand.

I make 700+ gold an hour farming this from my route. (it says 500+ g/hr but I am now selling for 3.95g each instead of 2.95g)

check it out here:
http://www.wowconfidential.com/2009/08/13/earn-500-gold-an-hour-from-boar-ribs-cooking-powerleveling-item/

Nice article, indeed…

Why Having Alts increase Gold/Hour

In respond to Gevlon’s Post
No, I am not against his point.

But Rather I want to point out why people think (Or may be indeed there are) there is a synergy

1. Time reduced on listing and buying (Gevlon’s point)
2. Reduced some factor on price fluctuation (Since you had more way to get what good you want, e.g. Infinity Dust for Bags, can be from Gears (Disenchant) / Eternal Earth (JC/Disenchant) rather than LFCrafter)
3. More Profession, really means more Gold/Hour! (Thus the Reason for this post)

Why More Gold/Hour

Said giving a profitable profession A, (Same apply to dailies as well)
There are Three Operation to earn gold
A1, yields A1g/hour
A2, yields A2g/hour
A3, yields A3g/hour
for A1g>A2g>A3g, a rational person will always pick A1 first…

the catch is, A1g will decrease if you keep doing Operation A1 …. (Making/Selling too much Netherweave bag, will result in returning bags, which increase the deposit cost and time needed)  Diminishing_returns

Gaining access to an additional profession grant him more choices, (Think of open up new daily quests for a player, with similar Gold/Hour Ratio to the existing ones…)
Say Profession B, with A1>B1>A2>B2>A3>B3

With a player can only do 3 Operation,
Player with only A will do (A1,A2,A3)
Player with both will do (A1,B1,A2)
Which always had a higher Gold/Hour  (B1 > A3) by definition

Exceptions

1. One operation already use up all the time of the player’s play time. (e.g. for Casual Traders or glyph making (Which need very long AFK time))
in that case, Since Player can only do one operation, picking one profession is enough
2. There exist one or two Master profession with All A > Bs

In which case, having another profession gives you no benefits at all…

However, Don’t

Don’t mistaken me of agreeing on leveling alts for profit
Even with DK, that’s a large chunk of time to spend, The extra Gold/Hour just couldn’t justify it.