Should I pay or Should I Gold(bank)

Financial investors will always tell you it's better to have your money work for you than to have it sit in the bank. This advice applies even in the Warcraft economy as a whole. One way to do this is by investing your gold wisely and continuously.

An example of having your money work for you is to create your own mini guild of crafters from your contacts. Grab the mats from your bank or your alts then decide what will sell on the Auction House at a decent profit (I always work with a 20% rule above cost of the crafted item).  Send a crafter from your personal network a request  to make the item and then give a tip, selling the item on the AH for a profit.

Most of the large money makers on a server will have their personal list of material farmers; providing supplies to their crafters. A steady supply of ore, leather and herbs will fill their needs many times over.  At certain times you will run into a situation where you don't have a specific pattern.   Such as the enchanting pattern of Blood Draining from Uldaur, that just never dropped for your crafter.

Here is  a breakdown of one such item: (Masterwork Elementium Deathblade)

With an investment of 7400 gold (5 chaos orbs at 300 a piece + 4 hardened elementium at 100 per + 2 ocean sapphire at 5g per + 8 truegold at 650 per = 7110g in materials + 200g tip = 7310g)  for a Masterwork Elementium Deathblade.     Selling for 9500 on most of the warcraft servers.   This is one example of many that this method can be used to increase sales on recipes that you don't have in your personal character crafting list. 

When we talk about networked crafters we are not speaking just about alts, but about friends, guild members,  or random trade chat members selling access to their wares. As the saying goes "any port in a storm". Same thing goes for auction house power-sellers. Take a minute while you are looking for that random trade chat link someone posts up and see what recipes they have that you don't. Send a message requesting to work out a deal.  Then you're bound for the Auction House to rake in the profits from just a little preplanning. 

There are almost always a crafter or two peddling their wares in the Trade channel looking to sell their orbs. A little planning and you end up with a large profit for just a little work.

One final thought.  Be honest with your crafter mini guild members. Most crafters want a piece of the profits for their items. So keep this in mind and do not alienate them by low-balling your "tips" to them.  If they were to see their items at a much higher selling price,  knowing you gave them a small tip.  You may have created your competition for that item next week.   Treat this as your new golden rule.  Tip as you would want to be tipped.  Its always a good idea to keep your crew happy and working for you than against you. That extra 100g tip you offer might keep your competition off the market and allow you to bring in that much more profit.  

Want to get in contact with me? . Email me at Dragonbearjoe @ gmail. dOT com or find me on twitter at "@Dragonbearjoe" or leave a comment here.   Would love to know how your experience with this works out. 

3 comments: on "Should I pay or Should I Gold(bank)"

  1. I have always wondered why a crafter does not just make the item and sell it themselves.

    If you are honest about why you want the item why would they do this?

    It is one of the reasons I have not gone done this route myself.

    Btw I have not seen the item you use as an example on my realm in many weeks of looking :(

  2. Another well-presented front page post. Yay! This is the JMTC I know and love.

    Zandathor, I totally understand your point about the ethics of asking someone to craft something that you then turn around and sell, but one of the strengths of this post is that the author makes it very clear that you should be honest with your crafters and that you should generously tip them in order to keep the business relationship alive.

    I can tell you from personal experience in my guild that many of our crafters struggle for gold and have been relieved when I offer to work the AH for them and provide a hefty cut of the profits. They just plain dislike dealing with the AH, or have very limited play time and don't want to bother. So they are happy that I will do this 'dirty work' for them ;)

    It really is a viable strategy, and I love the fact that the author stresses an approach that is respectful of guildmates.

  3. Thanks for the comments.

    Many times crafters want their gold now. I agree with the idea of why would a crafter not just make the item themselves. All my crafters emptied their stocked up orbs when the 4.2 patch hit and i earned/bought the firelands patterns. Someone who is selling access to their pattern book and orbs for 400 a piece plus the semi mythical good tip. Offer the extra 200 and you can go back continually to the source for more purchases.

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