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Wednesday, January 23, 2013

20 Days of Gold Making - Day 3 - My Early Strategies

This entry is part of a series of gold making posts answering the questions in the 20 Days of Gold Making Challenge started by Nev over at Auction House Addict.  If you also blog, then be sure to check out her gold blogging challenge for post topic ideas.
20 Days of Gold Making (Day 3)

What Were Your First Techniques, Tricks, Or Tips You Used When Starting Out?

Let's look all the way back to the middle to end of Vanilla WoW, when I started to make gold in World of Warcraft.  Once the light bulb came on and I was actively starting to make gold properly, as opposed to farming vendor trash and hoping for rare world drops, I quickly identified some areas that I knew could be profitable.  It turns out that early in my gold making career, I had targeted and was profiting from some select niche markets.  Early on in my gold making career I stayed away from flipping, heavy crafting, and shuffling and was big into specific niche markets that I had chosen to focus on.  I've always said, "Start with what you already know" when looking for your first auction markets to enter and my first markets followed suit.

When I first started in the auction house, I had 1 main character, my Rogue Skinning Leatherworker. I liked to quest and was questing all over Azeroth. How did this help me? One of my very first niche markets I entered (back in Vanilla WoW) was the "Quest Required Items" market. My love of questing had compiled me a nice long list of items that I found were needed for specific quests or subquests (remember Dire Maul-North Tribute Runs?). Because of all of the questing I had done, my personal experiences led me to sell items that I too at one point had to craft myself or purchase to complete those quests. A small sample of some of those items I sold within the "Quest Required Items" market were:
  • Deadly Blunderbuss (Ashenvale Quest)
  • Mithril Casing (Amy-E Ape Escort)
  • Thorium Widgets (Frost Trap In DM-N)
  • Darkmoon Faire Turn In Items (Old Darkmoon Faire)
  • Weapons and Armor Specialty Quests (Blacksmithing Spec Quests)
  • Advanced Target Dummy (Centaur Quest Chain)
  • Strong Troll's Blood Elixir (Hillsbrad Quest Chain) 
These "Required Quest Item" markets where one of the very first niche markets that I used for making gold in WoW.  Often times, I was the only seller of these specialty items and had no competition.  It was from this understanding of niche markets that I expanded into other niche markets that I had a specialist's understanding of that included:
  • Holiday Items
  • Twink Gear & Enchants
  • Blacksmithing Rods
  • Arcanite Bars 
More 20 Days Of Gold Making

Recommended Guides: Secret Gold Guide | Journal of Marcus Ty | WoW Secrets

1 comment:

  1. I made BS rods all the way through cataclysm, the 300% returns were just too good to not have some in the arsenal.

    ReplyDelete

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