Thursday, March 3, 2011

30 Day Gold Speed Run: Day 6

Today was really a stagnant day for one very simple reason. Prices were too high to be buying, but too low to be selling. It's that dead zone between the two points that really kills you. For some items like wool cloth, because of the really high demand, you can post your lots a little more expensive than the cheapest one because you know it will sell, but for other more competitive items, especially vendor items, if you're not the cheapest, you won't sell anything.

There is also the case of the herb market and some items like goldthorn which are at the right price to sell, the problem is that I don't have any to sell. I have had almost no sales today.

The only good news was that I was able to find some pretty good deals on some cloths like Frostweave and Wool. Other than that, today was pretty boring.

Gold today... 505g 39s 38c

Wednesday, March 2, 2011

30 Day Gold Speed Run: Day 5

As we approach the end of the week I thought it would be important to talk about what does work and what doesn't.

For me starting off was really the hardest part (and it wasn't really that hard to begin with). All I did was roll a human and quest around until lvl 5. I then picked up mining and herbalism and farmed some copper, rough stone, peacebloom, and silverleaf which I quickly by undercutting the competition. Remember, at this point, all I want is a few gold to get started. I just want to be able to afford to buy specific vendor items that I can sell on the AH for around 100x the vendor price, and I need to be able to afford the deposit fees at the AH.

Meanwhile, I was watching different items in different markets to get a feel for the prices that I can buy and sell them for. I was looking for volatile trade goods that have predictable demand. Once I figured out what I can buy these for and what I can sell these for, all I have to do is take my cash and put it to work.

Today, the lionshare of my sales came from frostweave cloth. This item has been on fire for some time now. There is a lot of demand and there are buyers that are just cleaning out the AH.

I woke up this morning to see that the 3 stacks of 10 that I posted had sold. I went to the AH and put up 3 more stacks. In less than 2 minutes, all three sold. I then put 4 more stacks up for around 40g a piece. I logged on later to find that all 4 had sold. I actually only have 4 pieces of frostweave cloth left. I sold out my entire supply. I'll just have to wait for some farmer to come up and undercut the whole market and buy up his stuff, but until then I'll just have to wait.

Final gold tally... 517g 89s 27c

Tuesday, March 1, 2011

30 Day Gold Speed Run: Day 4

Today was a great day in the cloth market. After I signed in this morning, I collected sales overnight from a bunch of my herbs that were listed. My balance increased to about 250g. I then bought about 119 pieces of Frostweave cloth for less than 1g 50s a piece which brought me down to about 150g.

I then listed 3 stacks of 10 for about 30g a stack, all three sold today, and so I reposted 3 more stacks to sell overnight. The cloth market, in the past, hasn't worked out too well for me, with the one exception of wool cloth, which is probably one of the easiest items to trade on the AH. But after stepping out of my comfort zone and analyzing different opportunities, I was able to find an item that has enough volatility to profit from and has a relatively strong demand compared to some of it's counterparts.

Ending Balance...226g 25s 95c