Auction House Domination - A Step to Become a World of Warcraft Gold Generator
The capital cities in Azeroth are where you can find the auction houses. It's here that the most potential for profit and loss in Warcraft exists. The reason is the variability in price that you will find in here. One day Mageroyal is 5 silver apiece, the next it's 10.
So it's the variations that give you the player the opportunity to make and lose Warcraft gold. Selling to the NPC vendors that are dotted around the place does not offer variability. The prices they charge and buy for are fixed. SO if you have uncommon loot or decent crafting materials then these NPC vendors will not offer the best return for your efforts
If you are considering playing the auction house as if it were a market, then first you need to collect some data. 3G for 20copper ore might look like a bargain, but is it? Unless you have followed the price of copper ore for some time, then you don't know.
The first step would be to download and install Auctioneer. An addon you can get from Curse.com. This has a scan function that records every asking price for every item at auction. Before you start your career as a floor trader, spend a few days running the scan once a day to collect good data. Carry on powerleveling until you have about ten scans worth of data.
Run the scan once a day, or perhaps once every two days to avoid double counting certain 48 hour auctions. It might be awhile until you have enough data to make a decent average.
Auctioneer will record all the asking prices and then put a percentage against every item you see in the auction house. This percentage is a ratio of the average asking price that auctioneer has found. So 90% means that the item is priced 10% below the average. Whereas 110% means it is priced 10% above.
Using this detail, you can make decisions on what to buy and sell and more importantly when. But low and sell high. It works in Warcraft as well as the real world
But I should mention some big shortcomings with Auctioneer.
As I mentioned above, it records the asking price. Not the selling price, it doesn't even know whether the item sold at all. People can ask whatever price they want at auction. If you've seen a piece of wool cloth or similar on for 10,000g (it happens all the time) then this figure will massively increase the average that Auctioneer thinks Wool cloth is worth. It won't have sold of course (at least not to someone who was keeping within the ToS and actually wanted it) People do this to either move vast amount of gold around, or in the hope that someone accidentally clicks on the item and buys it. The result is the same. Auctioneer's average asking price gets completely skewed with rogue data.
What should be of more concern though is that the value of items changes over time. New items cost more, and then lose value over time. Blizzard increase and decrease the drop rates of certain things with every patch. A rare expensive trinket you have suddenly becomes very common and its value can plummet. Blizzard also change the stat values and level requirements of ingredients, weapons, armour and recopies all the time. This has a pretty quick effect on the value. If you are holding stock you could be wiped out very quickly.
In summary, auctioneer is a good tool as long as you understand its limitations. It is not the only key to making Warcraft gold, but it does have a role to play. So if you plan on becoming a World of Warcraft gold generator, then download this addon now, but remember you will need more than this tool to make you gold rich.
So it's the variations that give you the player the opportunity to make and lose Warcraft gold. Selling to the NPC vendors that are dotted around the place does not offer variability. The prices they charge and buy for are fixed. SO if you have uncommon loot or decent crafting materials then these NPC vendors will not offer the best return for your efforts
If you are considering playing the auction house as if it were a market, then first you need to collect some data. 3G for 20copper ore might look like a bargain, but is it? Unless you have followed the price of copper ore for some time, then you don't know.
The first step would be to download and install Auctioneer. An addon you can get from Curse.com. This has a scan function that records every asking price for every item at auction. Before you start your career as a floor trader, spend a few days running the scan once a day to collect good data. Carry on powerleveling until you have about ten scans worth of data.
Run the scan once a day, or perhaps once every two days to avoid double counting certain 48 hour auctions. It might be awhile until you have enough data to make a decent average.
Auctioneer will record all the asking prices and then put a percentage against every item you see in the auction house. This percentage is a ratio of the average asking price that auctioneer has found. So 90% means that the item is priced 10% below the average. Whereas 110% means it is priced 10% above.
Using this detail, you can make decisions on what to buy and sell and more importantly when. But low and sell high. It works in Warcraft as well as the real world
But I should mention some big shortcomings with Auctioneer.
As I mentioned above, it records the asking price. Not the selling price, it doesn't even know whether the item sold at all. People can ask whatever price they want at auction. If you've seen a piece of wool cloth or similar on for 10,000g (it happens all the time) then this figure will massively increase the average that Auctioneer thinks Wool cloth is worth. It won't have sold of course (at least not to someone who was keeping within the ToS and actually wanted it) People do this to either move vast amount of gold around, or in the hope that someone accidentally clicks on the item and buys it. The result is the same. Auctioneer's average asking price gets completely skewed with rogue data.
What should be of more concern though is that the value of items changes over time. New items cost more, and then lose value over time. Blizzard increase and decrease the drop rates of certain things with every patch. A rare expensive trinket you have suddenly becomes very common and its value can plummet. Blizzard also change the stat values and level requirements of ingredients, weapons, armour and recopies all the time. This has a pretty quick effect on the value. If you are holding stock you could be wiped out very quickly.
In summary, auctioneer is a good tool as long as you understand its limitations. It is not the only key to making Warcraft gold, but it does have a role to play. So if you plan on becoming a World of Warcraft gold generator, then download this addon now, but remember you will need more than this tool to make you gold rich.
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posted by KnowledgeableIdiot | 2:18 AM
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