OK. Not technically a full week as I announced this experiment on Thursday after starting it on Wednesday, but in reality I’ve been researching for a couple of weeks and spent two days just trying to get it set up so it’s pretty much a week… Whatever! It’s my blog! Shush! Besides it’ll be easier to give you updates on Sundays.
Here’s a recap of Week 1:
My Basic Day
My basic day consisted of logging in before work for about 30 minutes to check on my glyphs. First, I run to the mailbox and see what sold. For everything I sold, I double check to make sure I still have some in the inventory. If I don’t have at least 2, then I craft up to 4. I plan on eventually upping that to 10 each, but start small. Once I have a decent cash buffer, I’ll start spending it heavily to increase inventory.
Then it’s off to the AH. I use Auctioneer* to take a quick look at all the auctions I have. Double check to make sure I’m the low guy and keep 2 of each glyph that I’m trying to sell on the AH. Now there are a few glyphs that sell for way cheaper than I think’s appropriate so I will post at least 1 glyph for those at a higher price knowing full well they won’t sell. An example is Glyph of Holy Light. Every holy paladin is going to want that glyph! So why are the Inscriptionists selling it for 8 gold?! Well, I posted two for 20 gold. Luckily the cheap ones sold quickly and mine apparently was the only one there. I sold one and someone soon after started posting at 15 gold to undercut me. Although not exactly where I would like it 15 gold is a far cry better than 8!
The biggest time consuming part of checking your glyphs is double checking to make sure you’re still the low guy and that the low price is an acceptable one. There are two other Inscriptionists on my server that are especially good at double checking and undercutting me. I’m fine with this as I’m doing the same thing and none of us are undercutting by more than a few silver. That keeps the price where we want it. There are unfortunately a couple of others that are relying solely on Auctioneer and doing stupid things like posting Glyph of Unburdened Rebirth which I was initially selling for about 26g/ea, but someone came on and posted 9 of them at 19g/ea. I do plan on writing a strategy post and this will be one of those things under the section of CHECK GOING RATES!!!
So once I’ve checked my glyphs the process is to repost 2 new glyphs at a competitive lower price and cancel the other higher priced auctions. You can argue whether or not that’s important, but posting glyphs is cheap! And it looks pretty stupid when you have 6-8 glyphs all at different prices. The smart consumer realizes a price war is going on and may wait, but the average WoW player doesn’t like to wait so he’ll purchase anyway. Thing is you can play a game with consumers by keeping the inventory low. This creates a false sense of short supply which increases their desire to buy now, but also has suppliers posting at higher prices and that’s more important. My basic rule of thumb is if a glyph sells for under 15g, I don’t sell it. It isn’t that I can’t make a profit, it’s just not worth my time when so many more do sell for that. And I would advise to never sell under 10g.
In the afternoon I go through the same process again for about 45-60 minutes. And then again before logging off for about 30 minutes. So here’s my timesheet for this week:
- Wednesday evening – 2 hours milling, crafting, and posting initial glyphs on AH.
- Thursday – Approximately 1.5 hours total spread throughout the day replacing purchased glyphs, canceling auctions, and posting auctions.
- Friday – Again approximately 1.5 hours
- Saturday – This is where my experiment started to have a sense of falling apart. I only spent about 1 hour as Saturday night I was so tired of looking at the AH that I said to myself “Screw it! I don’t care if I’m not the low guy, it’ll either sell or it won’t. I’m tired and done with it!” The real reason I’ve never been able to make money using just the AH.
The Gold (a.k.a The Thing You Really Care About)
The daily gold tally went like this:
So it appears that with a total of about 6 hours of work I made 2100 gold. That’s 350 gold/hr. Considering I can make about 120 gold/hr doing dailies that’s awesome! However, back in the day I was making 500 gold/hr farming Saronite Ore and selling the Eternals and Titansteel as well. However, with today’s market prices I don’t think I could make even 350 gold doing that. Titansteel was selling for 200-250 gold alone back then and is selling at 92 gold this morning. Saronite Ore was 25-30 gold/stack and is now around 15-17 gold/stack.
So can the average Joe actually make more money playing the AH than any other method? Sure looks that way, but I want to see if I can improve that gold/hour ratio. Remember, I spent two hours just setting up my initial auctions. As I get a little better, quicker, and increase my inventory of glyphs and mats I expect that ratio to get much better. I’m only a few days into this, but the real issue is keeping motivated. It’s boring as hell! You’ve been warned.