THIS WEEK'S POSTS:
TSM for Profitable Blacksmith Transmog Items
Standard Deviation: Rules to Post By
Awww, my first blog post
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NEWS AND PATCH CHANGES:
Honestly, didn't want it until I made this picture. Thing looks awesome!The Undermine Journal tweeted today about Living Steel. In short, the craftable 502 weapons are about to be available, and each one takes 12-18 Living Steel to make. For a decent raiding community, that's immediate increase in demand for living steel in the magnitude of the hundreds and maybe even thousands. For something with a daily cooldown this is a BIG deal and will probably create a huge spike in prices. For my realm, there were about 60 LS up on the auction house all under 450g, the average for the past couple months. So I bought them and reposted for double. Withing 10 minutes, there were another 20 up. So, from what I saw with the 5.2 trillium/ghost iron bar shenanigans, my observation is that we have a few people who have prepared for this and have stockpiled to actively play the LS game. If you play too, and you can buy a couple stacks cheaply now, you'll probably be able sell them one by one over the next week or two for a 25-50% profit. You might get lucky though and have a new tycoon try and control the market and buy out everything for ridiculously high prices trying to post them for more ridiculous prices. While he'll probably get left holding the bag, you'll have a nice little profit. Most markets that I've seen don't have more than 100 LS on them at the moment so you can't really go wrong either way; a 50k investment is not going to be a deal breaker if you have to liquidate. My suggestion then, is to stagger, have two price points, one high and one absurd. Personally, I'm posting half at 600-700g, and another half at 900-1000g. 50% profit and 100% profit. Easy. Done. If things don't sell, then after the dust settles, I'll sell em for market value.
MY STRATEGY (Since I haven't explained it yet)
First off, since I haven't explained this yet, I have two posting toons, one for glyphs and one for BS, JC, Transmog, Enchanting, Mega Blues, Vendor runs, and random resell stuff. I'm still new to the glyph market (she's only lvl 58) but gah! there are so many glyphs! IT'S RIDICULOUS!
To grow my wealth, I grow both my inventory and cash. Money Management is where most people fail and is where I failed initially too. If you find yourself perpetually broke, here's what I recommend. What I do is I set a threshold of gold across all my toons that I never fall below, no matter what opportunities present themselves. I started off with a minimum of 40,000 gold, then bumped that up to 50,000 gold. Then I had one reaaaally good day where I sold a bunch of ore and two 496 pieces, so from then on I kept the mark at 100k. It's been a while at 100k, so I think I'm gonna bump that up this week. Any profit I make, I use to buy underpriced transmogs or materials for profitable crafts. So when I say "Search. Craft. Post. Every Day." That's what I mean. Handle your money responsibly and always be growing with profitable moves.
Anyways, on to the financial recap!
Since this blog is also going to be used to track my toons personal financial growth, here is this week's breakdown. If you track anything that I don't, that you think I should, let me know. :)
Please don't burn me, ma'am.
Glyph Revenue: 3391g
Average # of Postings: ~300
He's a lumberjack and he's ok.
Lumberjack Revenue: 68032g
Min # of Postings: 97
Max # of Postings: 437
Average # of Posting: 320
Total Revenue: 71,423g
Avg # of Posting: 620
Revenue per Posting: 115g/post
Total Gold: 109k
Total Value of Auctions: 470k
Total Wealth: 579k
And that's it for this Sunday's week in review. Hope it was helpful, and I'll see you next week. Until then,
Search. Craft. Post.