Phase 3: Profit !

Top 5 reasons which stop people from rich in wow, and make goblin (us) rich.

With trading,
Anyone in azeroth can be in a farm-free state
Anyone in azeroth no longer need to grind for consumable, repair bill, enchanting and gemming
Anyone in azeroth can be on baby mammoth (Not recommended however)

Excuses

“I don’t need gold” -
you need, let’s face it. Even you are not into vanity like Me/Gevlon/Seth. You still need to pay your repair bill / consumption/ gear enchants etc. Unless you stop raiding and pvping altogether, you need money. And there are different way to gather the money you need. Why don’t take your time and find a good way for it? (And proven profitable e.g. crafting)

“I don’t have time for this” -
Trading didn’t mean AH-camping, which some of our fellow trader trade in that style, but it’s not necessary. You can still be rich without camping. Yes, you may earn less compared to those camper. (Here’s why). But so are working, you work less, you gain less. I would said the loss is acceptable, Trading still give you much higher gold/hour then other form of grinding.

Take my glyph industry as example, I post twice a day, which takes me 1 hour, which reward around 1-2k gold per day, While the mail getting and posting part is mostly afk.

“It’s too complicate for me” -
if you notice, this is the same line a M&S would said. “I can’t do 1800+ dps” , “I can’t get out of the fire”, “I can’t interrupt/CC/[Insert any task here]“. No, trading is not hard, compare the time you need to grind to the same amount of gold. Some area in the trade is easy to learn, e.g. Cross Faction Pet Selling, Cooking Receipt Gathering.

I know the picture is scary to some of us, but this is not the only way.

“I am not that kinda evil trader, who prey on poor and clueless people” -
These group of people, In Gevlon’s word, Social. Trading is not evil, in terms of economic, a efficient trade will give everyone better off. Econ 101: Alisa want an glyph/[whatever goods], she is willing to pay 20g, Bob want to sell a glyph, he’s willing part with it at 5g. When the transaction happen, we had a 10g net gain. The bargaining only occur between 5-20g range, otherwise, the trade will never occur. The so-called evil-trader can and will do his twit and twist on pushing the price near 20g, but can never exceed it, the trade will always be efficient, as long as the trade is voluntary.

“I may lost money” -
This is the greatest resistance for anyone to get into trading.
Translated in Social’s word, “losing make me feel stupid, and that should be avoid at all cost. Grinding, Farming, Doing Daily is risk-free, I rather spend my time there”.
Everything induce risk, and the price for “risk-free” is so high that you don’t even had to think twice on that. And, the risk factor usually is over estimated by ignorance. Trading is not about luck.

For 100% risk free investment, everybody will be drawn into it, and thus the profit will be lowered. Simple Demand Supply rules.
However, since most of the people drawn to those risk-free option, which left the risk bearing opportunity much more profitable. Identify those risk, and when odds are good, strike. That’s what it takes for a trader.

Conclusion

Did you hear these word from your guild mate? Or did you hear this from your heart?
It’s okay, everyone prefer a comfortable place and afraid of change, but given embracing this can change the very game play of yours (farm-free state, anyone?)

At least give it a try.

I was kinda lazy this week (I was happily leveling with my beloved GF ),
So I expected that there is a week’s worth glyph crafting work for me…
The number still surprise me though…

I should be happy, since I sold around 800+ glyphs last week, I was making 1-2k per day. Consider the price range is 4-10g each, that’s a lot.
(due to my over-stock setup, the glyph to craft number is larger)

but yet, I had some problem crafting them all….
Aside from a very long craft time, my bag was full, when I try to buy all those parchment (177g+ )
And also bag space when crafting….

I also used up half of my stockpiled ink of the sea.
Time to get more herbs….
(It’s funny that, every time I wonder if I am overstocked, I’ll run into shortage soon)

Had you been angry for overpriced goods on Auction hall and Trade Channel?

There are only person who aware of there are needs, is that (Insert your insult here) who are making a fortune with it.

Had you think about it this way, you posses the most valued asset in order to change things around?

This market existed.

You’ll probably not the first one. Others had different responds

Such as:

1. Never notice the price outrage, buy (or not to bother)
2. Notice the price is outrage, but buy it anyway (or not to bother)
3. Notice the price is outrage, wait for a while, failed, buy it anyway (or not to bother)
4. Notice the price is outrage, research the alternative, and finish the need for themselves
5. The last, and I like most, research the alternative, and compete with the seller…

From 1-4, those buyers do nothing to the market accept enforcing the price,

Or even increasing it, since the seller found it profitable.

Passing through 1-3, all you need is knowledge, Not so hard of anyone care enough to installed auctioneer and doing a quick search / google on wowhead or wowwiki.

From 3-5, you need resources/connections, e.g. friend / worker with the associated profession…

But given the profit margin is so high, it shouldn’t be a problem.

The only barrier of being the seller and a grumbling buyer is the inertial…

Why don’t you take a slice of that market?

Where to go

Last Saturday, I bought 20 stacks [Saronite Bar] for 40g each stack, while the market price was 60g. The price lowered to 42g on Sunday and remained there since then.
While the market reports from US that indicate prices of goods on Northern will drop soon (Since the people will come back and farming for gold), I had a hard time to get rid of them.

I had to consider

1. Accept my lose, to sell the bars at 35-38g
2. or, get hold of the bars to wait for a “possible” raise of them in the future.

I was thinking of 1. for the last minutes before the patch 3.1 .

But then, Comes my Savior

My Companion Saronite Arrow Maker

One of my guild mate ask me for the [Saronite Razorheads]. I peek on the auction hall and thought there were no profits at all. 6g for 200 arrows. 6gx5=30g.
I was mumbling that until I crafted the [Saronite Arrow Maker] and when I was able to mail him, I notice the line (10 uses) for the first time.
It was 5 uses for [Adamantite Arrow Maker] before, so I assume it remains.

Now that’s 50% profit margin, while I had lots of [Saronite Bar] stockpiled! I’ll just convert them to arrow maker each day and sold them by 200 a time. I even post a maker for 36g, just to test out the market (Which of course in a much lower profit margin of 20g vs 6g).

And it turn out, no one was buying the makers, but all my arrows sold out. On the day follow, I noticed someone was flooding those arrow maker as well, e.g. 10-15 @ price 35g. However while he wants to undercut me on the maker, he didn’t list an single arrow. And… my arrows are all sold again.

I guess 3.1’s come in bring back a lot of rusher, and that’s why my arrow sold like candy in skrooge’s word (not just common candy, addictive candy). Every arrow maker’s arrow sold will save me another half stack of [Saronite Bar] losing. Thanks for supporting the “Saronite Bar Post 3.1 Recovery Fund”.

While a lot of people talks about the [Mammoth Cutters] and [Saronite Razorheads] (JMTC, Gevlon, Skrooge). I never witness such a ___ thing before(Stupid/Weired/Strange I can’t find the right word).

Thanks for escape route for me

Side Note:
I was lucky this time, but I wonder how I’ll deal with another cut-loss situation next time though

How would you deal with it, when you feel yourself got into trouble?

I Can Haz Dual Spec, Already ?

Everyone got their Dual Spec now, right?

No, I didn’t.

All my toons are still in the old, cold, monotone single spec world.
For some reason, I didn’t go for instance and raid for nearly two weeks now. And I consider it’s time to buy more and earn more, instead of spending on the static priced dual spec system. (I did the price of waiting though…)

This is Madness! no, This is the Patch!
(Okay, I admit it isn’t fit very well here)

[Titansteel Bar] Hits 50% marks of pre-3.1, [Saronite Ore] and [Saronite Bar] still at their 60%.
But I didn’t start buying,…. yet. I expect it’ll drop more later.

I do get a lot of profits from the [Mammoth Cutters] and [Saronite Razorheads] from those rushing hunter, and reinvest them into the [Eternal Life] as suggested by WoWenomics

And I do take my time on making the [Nesingwary 4000] for my hunter who just ding 80. With merely 200-300g cost. Someone sell the [Sun Scope] in 10% price on the very day of the 3.1 patch. (For reference, someone had sold lots of epic that day with 888g for the [Nesingwary 4000], but the price raise back to 1000g on the following day)

I keep selling my stockpiled of pre-wrath’s material, and make a nifty profit on it. Especially on the Primals. The increased traffic more “price-insensitive” seller and buyer had entered the market, I got lots of sweet deals to pickup. With the 10kg asset base, and 2kg cash. I do gain 2kg this week, not as good as the inscription industry, but still, looks nice for me.

I may find a tailor for the [Netherweave Bag], as the market had no idea of the material cut yet. (I found more people step into the trade already though…)

On a side note about the white kitties though, there were 6 kitty show up on the market recently, on price 120-140g. I do pick them up with bid, and tends to dry up the market.

I had adapted a weekly update per week is a nice thing. While I had many little thing noticed a long the week, I would like to have a sumary post on the little thing and news to share. I’ll schedule the post ons Sunday Morning, for the summary of the week.

Share

My plans for future posts is to schedule posts every two days, about 6-8 am in the morning on Monday, Wednesday and Friday. and with a Sunday Weekly update. Occasionally with hot news updates.

The reason behind this is,

1. I don’t want to flood the blog with posts (people tends to miss out the second new post, if that happens, and I want them in full coverage)

2. a well-seasoned post everyday is a bit hard for me. But I would read blog, email and comments daily though.

News

Gevlon’s Return,the whole event come shortly in a few days.  In Summary
1. Gevlon Hit the Gold Cap.
2. Gevlon Missed for a few day, many commenter guessing what’s going on
3. Gevlon posted a post on LF Guild, and state his term of find a new guild, if failed he’ll stop blogging.
4. Since Gevlon post do not allow blogging, many blogger post their view on their own site. (Including me, list will be on the next item)
5. Gevlon got deal finish in jsut a few days, and Announced he’ll continue blogging.
6. Everyone is happy (Expect those M&S and Socialist maybe?)

Change of Name

Okay, I had changed the name from “Zekta’s Stuff” to Phase3Profit.net (Reason), Since Zekta’s Stuff is too generic here. I also made a small picture with model viewer for the new name here, hope you like it.

Linking Policy

I had wrote a page on my linking policy, the reason of writing that is…. Instead of blocking people ask for link. What I really wants is to encourage them from asking, since I found a little hesitate to ask when I just started blogging.

New Blogosphere member(s)
(that I come to notice):

Shy At Wow

From recommendation from Larísa, shy is a really good writer on her raid life
I like her writing style and humour tone, especailly this article.

Only Ten More PointsGlinda started blogging about achievement there, by the time of children week, I found that serving achievement achiever is very profitable, (and makes a better world for both of us (Traders and Achievers)). She had a great post of how to make profits on selling cakes. Glinda if you are reading this, Thanks for the reminder and keep the nice post coming. I’ll keep visiting you for your next tips

Not Another Mage Blog
Cassini was a old come-backer of Wow. Okay, I admit that I am not sure that what’s he’s going to focus on, but from the aspect of his class of choice and my toons, I guess I’ll get much interesting founding there. Will feature anything I found interesting later

There are also many sites I came to notice, will include more later

Note to self, make a new nice topic pic for the report