This post is my submission for Markco’s November Gold Blogging Carnival on Just My Two Copper. I am Miss Mediocre, and if this is your first time visiting my Blog, I’d like to welcome you and encourage you to leave a comment, as I do my best to reply to all of them! I’m not strictly a Gold Blogger, but I do very much enjoy making gold and try to share what I learn and how I succeed at this in many of my posts. Something I have never thought to share were the mistakes I’ve made along the way, but perhaps by sharing these errors, some of you can avoid making them!
The first mistake I made in regards to the Auction House, was avoiding it! It’s unfortunate to think about the amount of gold I missed out on during my first few years of playing WoW by vendoring everything I didn’t need. I’m not sure what exactly kept me from giving the Auction House a try, it seemed like something that was beyond me (I was a casual and very noobie player then), and it seemed like it just took too much time. The whole reason I started using the Auction House was because I’d managed to accumulate a comfortable little pile of gold (just by vendoring items and doing quests) and I thought one of my new characters deserved to wear some Auction House greens. When I checked the Auction House to see what was available for green gear under level 10, I was shocked to see how much some of it was going for. I’d just finished running a Guildie through the Deadmines, and had an inventory full of similar gear that I decided to put up for Auction, just to see if any of it would sell. Nearly everything had sold by the following day for up to twenty times what I’d get from the vendors, and it was then that my love for the Auction House was born.
The second mistake I made was believing that I could do something in game just as well as an add-on could. I’d check for undercuts, search for materials, bid on or buy what I believed to be under-priced items, but the difference between what I was managing to do without add-ons and what I do now with add-ons, is the time it took! I’d never have more than 10 auctions posted at once before I used add-ons because any more than that were just too difficult to keep track of and I didn’t sell a variety of different types of items because it was too much hassle to buy more than a few types of materials to craft them. I’d spend hours every week using the Auction House, but if I’d been using Auctioneer, those hours would have been minutes and the hundreds of gold I made back then, could have been thousands. Now if I’m ever without Auctioneer (like after 4.0.1) I hate trying to use the Auction House because everything just takes so long, lol.
The final mistake that I’ll mention making seems to be a very common one! I’d always believed that if I went out and farmed the materials to craft something, then it wasn’t costing me anything to make, and was the best way to maximize my profit. I assumed everyone who bought materials from the Auction House was just lazy and it was actually only very recently that I realized the error of my ways (thanks to JMTC)! As goblins (and savvy gold makers) like to say, “Time is Money, friend” and this is very true if you think about it! For a reference, lets say I can make 700g an hour doing quests after level 80 (which you can). If I want to post a few Crusader enchants in the Auction House while I’m away questing, but don’t have any Righteous Orbs, I have two options.
First, I could head out to Strathlome and farm them (which is what I would have done before). I can clear Strat Live in about 20 minutes and usually find 3-5 Righteous Orbs in each run. Second, I could buy the Righteous Orbs from the Auction House. The average price of a Righteous Orb on my server is about 16g, which I would have always assumed was too expensive, until you actually look at it. If I find 12 Righteous Orbs in an hour farming them in Strat then I have accumulated 192g worth of Righteous Orbs. That’s 500g less than I could have made if I’d spent my time questing in Northrend, rather than farming. Really it is worth it for me to just buy the Righteous Orbs from the Auction House, post the enchants for 100g each and go questing. A commenter, Indy, actually summed this up nicely on a previous post by saying, “If the asking price is much lower than you’d be willing to accept for spending the time farming, well, it is probably reasonable to buy them from the AH instead”. Now that I have this gold-per-hour way of thinking, and have stopped spending gold on silly things, I’ve managed to accumulate ten times more gold than I had ever been able to save up before, and my total keeps climbing.
I am still far from a WoW Millionaire, I know I have more to learn and more mistakes to make, but hopefully I can turn my current 50k into 250k, just like I turned my pitiful 5k into a decent 50k over the last few months!
Thank you for reading, and a huge thank you to Markco, because had I not started listening to his podcast Call to Auction, and started reading JMTC, I’m sure I’d still be sitting under 10k wondering how in the world people managed to afford Mekgineer’s Choppers and Traveler’s Tundra Mammoths!