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Comments on: /cast Feedback (rank 10) http://woweconomist.com/blog/cast-feedback-rank-10/ Pimpin' your bank alt since March 2008 Fri, 12 Mar 2010 13:37:08 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Clawhammer http://woweconomist.com/blog/cast-feedback-rank-10/comment-page-1/#comment-495 Clawhammer Thu, 15 May 2008 08:23:01 +0000 http://woweconomist.com/blog/cast-feedback-rank-10/#comment-495 Since I didn't seen any contact info, I'll post my question here. Maybe it can turn into a future column. Whats your opinion on buyout prices? I see the occasional auction posted without a buyout, which I don't understand. I suppose the seller is hoping to provoke a bidding war, but WoW seems to be such an instant gratification game... I think people would rather pay 5g and have an item now, instead of bidding 2g and having to wait a day for a bargain which may or may not come. Since I didn’t seen any contact info, I’ll post my question here. Maybe it can turn into a future column.

Whats your opinion on buyout prices? I see the occasional auction posted without a buyout, which I don’t understand. I suppose the seller is hoping to provoke a bidding war, but WoW seems to be such an instant gratification game… I think people would rather pay 5g and have an item now, instead of bidding 2g and having to wait a day for a bargain which may or may not come.

]]> By: Glenn http://woweconomist.com/blog/cast-feedback-rank-10/comment-page-1/#comment-230 Glenn Sun, 27 Apr 2008 23:15:17 +0000 http://woweconomist.com/blog/cast-feedback-rank-10/#comment-230 I like the new name, fits a lot better. Feel free to steal it away. I like the new name, fits a lot better. Feel free to steal it away.

]]> By: Justin http://woweconomist.com/blog/cast-feedback-rank-10/comment-page-1/#comment-88 Justin Thu, 10 Apr 2008 08:18:00 +0000 http://woweconomist.com/blog/cast-feedback-rank-10/#comment-88 Oh, another point I'd like to address is about how much to lower your price.<br/><br/>First, is the "undercut by 1c", which I fully agree with... but sometimes you want to give more of an illusion in order to induce a buy. Sometimes you want to distinguish yourself more in a crowded market. In a case where you would be going, say, 1 silver lower, consider going 1.01 silver. It will work on the same psychology of why stores always price things ending with 99 cents. Despite seeing this all the time, everywhere, for our entire lives... it still works.<br/><br/>Another thing: I don't know about anyone else, but I only deal in buyouts. I don't worry myself about "oh what should I price this at, and what (or if) should I set the buyout". Just figure out a price you are happy with... WHICH WILL SELL. Because you'll always get more stuff to sell, but having to relist generally costs money and eats into your profits.<br/><br/>Which leads me to another point, you can do quite well buying/selling those goods which have no AH fees. IMO, that market is great because the elimination of fees has removed one big incentive for lowering prices (declining profits over time because an item isn't selling). The other one lowering effect is, of course, impatience, but we can't do anything about that (except many times view it as a buying opportunity).<br/><br/>If you check out Auctioneer, my favorite features are how it keeps track of your buy/sell history, and another is how it will let you know historical data (I think it only tracks 7 days, correct me if I'm wrong).<br/><br/>One improvement I would love is if it could chart the daily market fluctuations, so perhaps you can see that whatever item you are tracking sells for more on a friday and less on a tuesday (or whatever). Now it could be that info would be worthless, and the AH is too chaotic a market to graph reliably, but it would be interesting to see if that really is the case. Oh, another point I’d like to address is about how much to lower your price.

First, is the “undercut by 1c”, which I fully agree with… but sometimes you want to give more of an illusion in order to induce a buy. Sometimes you want to distinguish yourself more in a crowded market. In a case where you would be going, say, 1 silver lower, consider going 1.01 silver. It will work on the same psychology of why stores always price things ending with 99 cents. Despite seeing this all the time, everywhere, for our entire lives… it still works.

Another thing: I don’t know about anyone else, but I only deal in buyouts. I don’t worry myself about “oh what should I price this at, and what (or if) should I set the buyout”. Just figure out a price you are happy with… WHICH WILL SELL. Because you’ll always get more stuff to sell, but having to relist generally costs money and eats into your profits.

Which leads me to another point, you can do quite well buying/selling those goods which have no AH fees. IMO, that market is great because the elimination of fees has removed one big incentive for lowering prices (declining profits over time because an item isn’t selling). The other one lowering effect is, of course, impatience, but we can’t do anything about that (except many times view it as a buying opportunity).

If you check out Auctioneer, my favorite features are how it keeps track of your buy/sell history, and another is how it will let you know historical data (I think it only tracks 7 days, correct me if I’m wrong).

One improvement I would love is if it could chart the daily market fluctuations, so perhaps you can see that whatever item you are tracking sells for more on a friday and less on a tuesday (or whatever). Now it could be that info would be worthless, and the AH is too chaotic a market to graph reliably, but it would be interesting to see if that really is the case.

]]> By: Justin http://woweconomist.com/blog/cast-feedback-rank-10/comment-page-1/#comment-87 Justin Thu, 10 Apr 2008 08:02:00 +0000 http://woweconomist.com/blog/cast-feedback-rank-10/#comment-87 First, I have to say I love the idea of the blog!<br/><br/>Two points I'd like to make: First, I've found it's REALLY easy to make money as a lowbie.<br/><br/>My main advice to new players was to NOT take a trade skill (only "gathering" skills), but I think a wise person can level up and make money at the same time.<br/><br/>I have a alt I've been planning on leveling up, but for the most part I've just been using him for Blacksmithing and making a few profitable, low level items. <br/><br/>I'm not sure I want to give away the "secrets", but there are a few specific kinds of items I've noticed people are willing to pay big money on, and very few people even address that market. It's not huge money, but it is steady money. That character hasn't had a big influx of gold, but he's over 100g just from items made over a few weeks... and is only level 20.<br/><br/><br/>Second point, or more like a random thought, would be about how to really make good money at the AH. It's been mentioned a few times that making a few bad auction listings can crash the market... but what if you WANT to crash the market? I think it would be REALLY useful to work out a few reliable strategies for making this event occur, with the goal of creating a buying opportunity for a patient investor. First, I have to say I love the idea of the blog!

Two points I’d like to make: First, I’ve found it’s REALLY easy to make money as a lowbie.

My main advice to new players was to NOT take a trade skill (only “gathering” skills), but I think a wise person can level up and make money at the same time.

I have a alt I’ve been planning on leveling up, but for the most part I’ve just been using him for Blacksmithing and making a few profitable, low level items.

I’m not sure I want to give away the “secrets”, but there are a few specific kinds of items I’ve noticed people are willing to pay big money on, and very few people even address that market. It’s not huge money, but it is steady money. That character hasn’t had a big influx of gold, but he’s over 100g just from items made over a few weeks… and is only level 20.

Second point, or more like a random thought, would be about how to really make good money at the AH. It’s been mentioned a few times that making a few bad auction listings can crash the market… but what if you WANT to crash the market? I think it would be REALLY useful to work out a few reliable strategies for making this event occur, with the goal of creating a buying opportunity for a patient investor.

]]> By: Bloodshrike http://woweconomist.com/blog/cast-feedback-rank-10/comment-page-1/#comment-70 Bloodshrike Mon, 07 Apr 2008 21:07:00 +0000 http://woweconomist.com/blog/cast-feedback-rank-10/#comment-70 Amy said...<br/><br/> Any opportunities from the Darkemoon Faire? I know Professor Thaddeus Paleo sells motes of air and water for 16 silver. Can't beat that for resale value!<br/><br/>Amy, both of those vendors sell high level stuff for cheap cheap cheap. Lots of high level herbs like Black lotus, Felweed, Terocone, Ghost Mushroom...the list goes on. All motes are sold for 16 silver, and occasionally they sell gems. Living Ruby and Talasite are sold at 15 gold I believe, and I've seen that you can sell them for 50 gold on some servers. <br/>Do a scan of leather, herbs, and gems before going down there, and you'll see if it's worth it. For example, Wild Steelbloom on a couple of my servers is going for 3-8 gold for a 20 stack. You can buy it for 2 silver each at the fair. Ghost Mushrooms sell for 2-3 gold each, but the fair has it for 15 silver. Amy said…

Any opportunities from the Darkemoon Faire? I know Professor Thaddeus Paleo sells motes of air and water for 16 silver. Can’t beat that for resale value!

Amy, both of those vendors sell high level stuff for cheap cheap cheap. Lots of high level herbs like Black lotus, Felweed, Terocone, Ghost Mushroom…the list goes on. All motes are sold for 16 silver, and occasionally they sell gems. Living Ruby and Talasite are sold at 15 gold I believe, and I’ve seen that you can sell them for 50 gold on some servers.
Do a scan of leather, herbs, and gems before going down there, and you’ll see if it’s worth it. For example, Wild Steelbloom on a couple of my servers is going for 3-8 gold for a 20 stack. You can buy it for 2 silver each at the fair. Ghost Mushrooms sell for 2-3 gold each, but the fair has it for 15 silver.

]]> By: Bloodshrike http://woweconomist.com/blog/cast-feedback-rank-10/comment-page-1/#comment-69 Bloodshrike Mon, 07 Apr 2008 21:00:00 +0000 http://woweconomist.com/blog/cast-feedback-rank-10/#comment-69 From the beginning, there's one easy way of making money that I know of. Vendor camping. Do the quests in your starting area to build up at least 10-20 silver, then go camp (or have an alt camp) an engineering vendor. For Horde, I'd recommend the vendor in UC or Silvermoon. For Allies, I'd go with Stormwind, due to the ease of getting a level 1 toon to the capitol city. Buy Coarse Blasting Powder for 48 copper each, and sell when you get a complete 20 stack. Due to the rising cost of Coarse Stone, you can sell the blasting powder for 2.5 to 3 gold, and this will give you enough starting capitol to proceed to the next part of your plan. Enchant Bracer: Deflection is sold in Darnassus at the vendor next to the Tailoring/Leatherworking shop, for about 50 silver. You can easily sell a couple for 5-6 gold, especially if you prime the market by having another toon post it at 7-10 gold. I amassed about 100 gold on Daggerspine just by doing this, and my toons were about level 10. Just don't flood the market. Post 2 good prices, and 1 high price. For Horde, the recipe is in Stonard, at the trade good vendor in the inn. Start an Undead toon, run him immediately to the zeppelin tower, and go to Grom'gol in STV. Get killed, and don't resurrect. Walk as a ghost thru Duskwood to Swamp of Sorrows, and go to Stonard. When you reach the Spirit Healer, LOG OUT. Log back in, and she'll let you rez right there, instead of being yanked back to STV. Go to the inn, and commence camping. Send the recipes to an AH alt you have ready, and watch the gold come in. <br/>This works because it's a green recipe, even though it's vendor bought, yet people hardly go to SOS. What's even funnier is that Allies on Daggerspine don't even seem to go to Darnassus for this. From the beginning, there’s one easy way of making money that I know of. Vendor camping. Do the quests in your starting area to build up at least 10-20 silver, then go camp (or have an alt camp) an engineering vendor. For Horde, I’d recommend the vendor in UC or Silvermoon. For Allies, I’d go with Stormwind, due to the ease of getting a level 1 toon to the capitol city. Buy Coarse Blasting Powder for 48 copper each, and sell when you get a complete 20 stack. Due to the rising cost of Coarse Stone, you can sell the blasting powder for 2.5 to 3 gold, and this will give you enough starting capitol to proceed to the next part of your plan. Enchant Bracer: Deflection is sold in Darnassus at the vendor next to the Tailoring/Leatherworking shop, for about 50 silver. You can easily sell a couple for 5-6 gold, especially if you prime the market by having another toon post it at 7-10 gold. I amassed about 100 gold on Daggerspine just by doing this, and my toons were about level 10. Just don’t flood the market. Post 2 good prices, and 1 high price. For Horde, the recipe is in Stonard, at the trade good vendor in the inn. Start an Undead toon, run him immediately to the zeppelin tower, and go to Grom’gol in STV. Get killed, and don’t resurrect. Walk as a ghost thru Duskwood to Swamp of Sorrows, and go to Stonard. When you reach the Spirit Healer, LOG OUT. Log back in, and she’ll let you rez right there, instead of being yanked back to STV. Go to the inn, and commence camping. Send the recipes to an AH alt you have ready, and watch the gold come in.
This works because it’s a green recipe, even though it’s vendor bought, yet people hardly go to SOS. What’s even funnier is that Allies on Daggerspine don’t even seem to go to Darnassus for this.

]]> By: Amy http://woweconomist.com/blog/cast-feedback-rank-10/comment-page-1/#comment-68 Amy Mon, 07 Apr 2008 20:28:00 +0000 http://woweconomist.com/blog/cast-feedback-rank-10/#comment-68 Any opportunities from the Darkemoon Faire? I know Professor Thaddeus Paleo sells motes of air and water for 16 silver. Can't beat that for resale value! Any opportunities from the Darkemoon Faire? I know Professor Thaddeus Paleo sells motes of air and water for 16 silver. Can’t beat that for resale value!

]]> By: Naim http://woweconomist.com/blog/cast-feedback-rank-10/comment-page-1/#comment-66 Naim Mon, 07 Apr 2008 17:48:00 +0000 http://woweconomist.com/blog/cast-feedback-rank-10/#comment-66 Thanks for addressing my question guys. I agree with your assessment, I don't use any addons at the moment to help do market analysis for the same reasons you don't. Being a software developer I have half a mind to try my hand at the problem and see what I can come up with. Here's some of my thoughts:<br/><br/>Scanning (unfortunately) I think is the best way to gather data. There are one or two others that will eavesdrop on mail and communicate up to a master server, but the results can be extremely incomplete or tainted because only data from people who use the addon.<br/><br/>The trick then is to combine the idea of scanning with a master server. However the server will only keep track of current averages as well as historical data. A user then doesn't need to scan as frequently because their client can pull data from the server and have access to the analyzed information from all the users on that server. All your normal statistical analysis would be included in the data (high/low, median, mean, outliers); that would really help keep the information more relevant and smooth (i.e. a few crazy auctions wouldn't make you fear the validity of the data).<br/><br/>One nice part about this then is the trending capabilities that it would allow. Not only could you view historical trends, but because the economy in WOW is no where near as complex as something like a real market it could certainly empower the user to do some prediction based on hard data. Volume trending would be pretty helpful as well, not just prices.<br/><br/>Shame it would be a lot of work and I have no time. Thanks for addressing my question guys. I agree with your assessment, I don’t use any addons at the moment to help do market analysis for the same reasons you don’t. Being a software developer I have half a mind to try my hand at the problem and see what I can come up with. Here’s some of my thoughts:

Scanning (unfortunately) I think is the best way to gather data. There are one or two others that will eavesdrop on mail and communicate up to a master server, but the results can be extremely incomplete or tainted because only data from people who use the addon.

The trick then is to combine the idea of scanning with a master server. However the server will only keep track of current averages as well as historical data. A user then doesn’t need to scan as frequently because their client can pull data from the server and have access to the analyzed information from all the users on that server. All your normal statistical analysis would be included in the data (high/low, median, mean, outliers); that would really help keep the information more relevant and smooth (i.e. a few crazy auctions wouldn’t make you fear the validity of the data).

One nice part about this then is the trending capabilities that it would allow. Not only could you view historical trends, but because the economy in WOW is no where near as complex as something like a real market it could certainly empower the user to do some prediction based on hard data. Volume trending would be pretty helpful as well, not just prices.

Shame it would be a lot of work and I have no time.

]]> By: arb http://woweconomist.com/blog/cast-feedback-rank-10/comment-page-1/#comment-65 arb Mon, 07 Apr 2008 17:44:00 +0000 http://woweconomist.com/blog/cast-feedback-rank-10/#comment-65 Interesting point regarding the impact of sharing your tips on the WoW economy. I know that there are many millions of players and that a few readers of your blog shouldn't affect the overall economy. However, there are only a limited number of <i>servers</i>. You only need one or two competitors using the same tactics to have a massive impact on your income.<br/><br/>On my server I am very active in the market for certain commodities. My specific areas of specialism are BOE crafting recipes and twink items in all brackets. My brother controls the gem and ore markets. By trading actively in these items, making bold acquisitions and using aggressive pricing, we are able to maintain a steady 3-4k gold income each week. However, this can be significantly affected when others enter the same market.<br/><br/>By all means, keep sharing your tips, but make sure you have a large enough bankroll to see off competitors of your own making... Interesting point regarding the impact of sharing your tips on the WoW economy. I know that there are many millions of players and that a few readers of your blog shouldn’t affect the overall economy. However, there are only a limited number of servers. You only need one or two competitors using the same tactics to have a massive impact on your income.

On my server I am very active in the market for certain commodities. My specific areas of specialism are BOE crafting recipes and twink items in all brackets. My brother controls the gem and ore markets. By trading actively in these items, making bold acquisitions and using aggressive pricing, we are able to maintain a steady 3-4k gold income each week. However, this can be significantly affected when others enter the same market.

By all means, keep sharing your tips, but make sure you have a large enough bankroll to see off competitors of your own making…

]]> By: Douglas http://woweconomist.com/blog/cast-feedback-rank-10/comment-page-1/#comment-64 Douglas Mon, 07 Apr 2008 16:12:00 +0000 http://woweconomist.com/blog/cast-feedback-rank-10/#comment-64 "I would love to see a post on the effects server events have on the Auction House and farming."<br/><br/>This is the bread & butter, cash money machine for the WoW Investor.<br/><br/>Holiday Events:<br/>Great for crafted quest mats. Every Xmas I see people selling eggs in IF for a 200-500% markup so they can make cookies for the Greatfather quest. <br/><br/>New Arena Seasons:<br/>New gear for the PvPer's = new gems & enchants for the new items, watch gem/enchant/primal markets skyrocket<br/><br/>New Content Releases:<br/>Depends on content size.<br/>Little content X.3, or X.4 patches you watch PTR patch notes & see what new crafted items are coming up & what the mats are, you can usually make some cash farming mats for new crafted items.<br/><br/>Big content, i.e. WotLK, here's where the big money can be made by those brave enough. Look for mats for high end crafted items that will allow people to level their profession. BC had an initial run on runecloth & netherweave because everybody needed it for First Aid and tailoring. Same thing w/ Thorium bars, Leather, Ench. mats. <br/><br/>There's some speculation involved, but there's good money to be made stockpiling early for little & big content patches. “I would love to see a post on the effects server events have on the Auction House and farming.”

This is the bread & butter, cash money machine for the WoW Investor.

Holiday Events:
Great for crafted quest mats. Every Xmas I see people selling eggs in IF for a 200-500% markup so they can make cookies for the Greatfather quest.

New Arena Seasons:
New gear for the PvPer’s = new gems & enchants for the new items, watch gem/enchant/primal markets skyrocket

New Content Releases:
Depends on content size.
Little content X.3, or X.4 patches you watch PTR patch notes & see what new crafted items are coming up & what the mats are, you can usually make some cash farming mats for new crafted items.

Big content, i.e. WotLK, here’s where the big money can be made by those brave enough. Look for mats for high end crafted items that will allow people to level their profession. BC had an initial run on runecloth & netherweave because everybody needed it for First Aid and tailoring. Same thing w/ Thorium bars, Leather, Ench. mats.

There’s some speculation involved, but there’s good money to be made stockpiling early for little & big content patches.

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