Make money in a fair way - buy low, sell high explained

asparoth · #1 06-22-2009, 06:07 PM

First of all... This guide was fully written by me

So please if you copy and paste, link my name, however this guide is intended for solely d3scene.

I know , it's not really long, but I have just typed this as I see that most gold guides are outdated, or just give bad information on [How to]. Everyone's a beginner and should/should be able to learn.
It's a no-bs guide, with straight foward lines and examples.

Introduction:
This guide is a rather well explained and practical way on how to farm gold using the buy low sell high way. This by using addons and your brains. If you don't have one of those, you should either download them

or just stop reading. Download links are in the text, just follow the guide.
If you are thinking to scam others, don't look any further. I've seen ALOT of guides who do the same .... they all say: Buy low sell high.... but then again, how can you find these items which sell high? I don't have any stories about gold sellers who hate me..; I'm sorry, they don't.
All info is from kilrogg eu [H] server.

Starting up
To start your miniconomy, you must be sure to have the following addons:
Auctioneer Suite
WoWecon price mod
Nutcounter

Maintenance
It is VERY important for you to keep these addons up to date. Especially WoWecon, which gets it's prices from the graphics used on it's site, needs a DAILY update. If you don't update, you won't get the daily price and might miss out on some gold.
Auctioneer on the other hand, is a completely other story. Which I will elaborate on in the upcoming part:

Give me the money! Auctioneer addon (suite)
It is important for you to scan the auction house on your server EVERY day.
You can do this by pressing the "scan" button in your auction interface, in the stop/pause/play scan button. Or the alternative scan button.

After you have done this, Auctioneer addon will have calculated a median for EVERY item on the auction house at that time. Not only will this information be stored into your auctioneer path. This info can be called upon at anytime by auctioneer. A benefit of using the suite and scanning everyday, is that you get a good idea of the stuff you loot, because Auctioneer addon suite makes a new hover when you mouse over items.

This info is usefull in two parts.
- Enchanting:
Not only does it give the median value while disenchanting, it also gives the possible disenchants. This maximizing your profit when you can better disenchant the items and sell their mats.
Example:
The item in the image shows a disenchant value of 8g 81s
this disenchant value is above the market price of 7g 57 s
The profit of selling the disenchanted item is thus: 1g 24s
-Vendoring
If it's not worth to sell the item, either because nobody wants it or it's market price is too low, you can still check the vendor price and compare it to the disenchant value. If both market and disenchant value are low, you are better off vendoring the item.

Buy low , sell high

It's an ancient concept, everywhere you go, people want to know how you can buy low sell high. Thanks to wowecon auctioneeraddon, you will be able, to make 5g and turn it into 80g at a lower level (It worked at 40).
Before we got any further, let me explain the concept.
To prove my point, I made a new DK alt, on alliance without ANY gold given to the alt.
This is how I started:
Sold rusted pitchfork in trade for 5g
Bought darkmoon card: six of furies (won with a bid of 9g)
Sold six of furies after 7 hours (Bought for 20g)
Bid on [Burning skull pendant] won bid for 21g
Sold [Burning Skull pendant] For 80g the other day
Now, you have almost made the 100g . You can now start looking for some more expensive items, this is how i did it:
I bought 20 eternal shadows for 75g (hugely underpriced) then, all you have to do is put them back on auction house, for let's say 7.5g / eternal shadow and slowly put in more and more at the auction house. HOWEVER do not waste your chances by putting in all at once. You have to keep the amount of items you are selling low. This goes for ANY item. You are always much more likely to sell 2 [Infinite dust] 10 times, then just one stack off [Infinite dust] .

Now, putting this to work, you should have first scanned the auction house for all items. All pages must be covered, even if it goes so slow, it's worth it's while. When the scan's finished, you will click the "search" tab

1. Click searchers, this will open a dropdown menu with options
2. Click resale (you won't need the rest, honestly
3. Set the minimum profit to what pleases you (remember to set a lower profit when you have less money, else you'll never get the goodies, I always set it to 10g)
4. Make sure those options are set up
5. Click search and wait untill the list is complete
6. You will now see an amount of items . The core of buy low sell high is, that most people forget their bid price, and hope not to get a bid in from anyone. This is what the searcher does best : Search the best items for you with a low bid or buyout. Here you can see , someone placed a titansteel shieldwall for 899.99 g, however, his/her bid price is ONLY 523 g. This is underpriced, so you can at LEAST make 300 g profit. Read the wowecon part, you must be cautious here In the matter of bidding on an item, always consult WoWecon 's website or pricing addon (update daily). Read the excerpt about wowecon under point 7. Bidding.
7. Now, you have found your underpriced item, you can bid on it. You should never get influenced by the profit table. This information is WRONG. However, the percentage information can be a good indicator, but always remember not to get influenced by profit. The titansteel shield wall however, is a valueable item. 300g profit is good enough.

Now if you are bidding on an item, you should always consult:
7.1 wowecon.
We now take a second example [Ace of Nobles]
This item is priced at a bid of 1000g and a buyout of 1300 with a profit of over 1300g. This is where WoWecon should be used. If you either check the WoWecon price while hovering over the item (the wowecon price is right under the name next to "Global:" you will see that it 's buyout price is EXTREMELY lower , and bidding on this item would only make you lose.
Proof: wowecon.com - Item: Ace of Nobles
The buy low sell high plan should now be clear to you and you should now be able to apply it to the auction house.

This proves my statement that you can't buy or bid without consulting wowecon. WoWecon tracks the sales , and also the item of the day. wowecon.com - World of Warcraft Auction House Price Database for more information

So what if you are broke already and don't have the money?
If you are at 80 you can do it with 100% profit.
Using your emblems of heroism (easy to farm) buy some red scarlet rubies. You COULD use frozen orbs, but alot of people have them, and their price has dropped.
Too much offer -> not enough sales -> prices drop -> need to sell more to make more money -> even more offers -> again not enough sales
You now should know a jewelcrafter in your guild, who can make these into +16 agility gems (or +32 attack power). These sell for over 92 gold !
You could sell the raw gems for 10g less, but that is up to you.
As an add-up: there's always one hugely underpriced item (on bid) which is Aviary Guardsman"s Hauberk which is on bid for 45g, and can be sold up to a maximum of 120g (median is 89 g ).

Either way, you shouldn't use the normal auction poster EVER again.
The appraiser tab searches the perfect price for you, just click on the appraiser tab, click on the item you want to sell. Be careful: The money you see is the gold per item ! not just the gold for a stack, but ONE ITEM ONLY .
Luckely, you can see total bid/buyout price in a little hover to your right side.

What to do with professions?
-Alchemy
Create flasks of the endless rage (= half the price it used to be .... but still pretty good, better to sell mats now though)
Flask of the stoneblood
-Herbalism
Sell frost lotus and icethron, adders tongue, tiger lilly, goldclover, lichbloom
-Skinning
Artic fur , and of course heavy borean leather
-Leatherworking
Icescale leg armor and other armor types
-Enchanting
spam /2 with your enchants , or be smart and disenchant and sell the mats
-Engineering
Has been ripped from most of it profit sources...
-Blacksmithing
Titansteel items
-Mining
Titansteel, saronite although low level ores are going through the roof
-Jewelcrafting
Just any high level gem cutting is enough to make money
-Inscription
Not really a good source of income either
-Tailoring
Not such a good income either, although luxury items seem to sell good and bolts too

If you don't have alot of time to play, what should you do with dailies?

You should run over dailies that require you to fly over the same area and use a certain max radius. I always do the cookin daily in combination with the argent crusade dailies (all of 'm). You should create a dailies path , if you have limited time. Create a vast route.

As of the launch of patch 3.2 this guide WILL be updated with new items and prices.