Hello,
Thank you for coming to my blog, The Drunken Mogul, I have moved away from using the Blogger software to using WordPress. Any direct links to the posts on this site will remain intact, however I would ask if you have any links directing to this site, that they be changed. You can find the new site at The Drunken Mogul.
Again thank you for stopping by, and I hope you will follow me on my journey to gold-capped and beyond on my new site/blog.
P.S. All posts found here have been imported into the new website.
GoblinRaset,
The Drunken Mogul
Thursday, April 25, 2013
Tuesday, April 23, 2013
Weekly Recap 4/16 - 4/22
This week, I took a fairly non-chalant approach to making gold in WoW. I mostly just did reposting of my auctions, and every now and then when I felt like it I would spend some time and do my crafting. However, this may seem like I had a bad week, but quite the opposite.
This week I had 135.2k in gross sales, 65.4k in purchases, and 69.7k in profit. There was no real market that stuck out at me this week, like last week, so I will have to do more investigation but my general ideas are that it was just a little bit of everything selling and adding up.
This past week I did a guest post for @PhatLewtsGold over on his blog about some basic market manipulation. You can read that post here: Market Manipulation Drunken Mogul Style.
My apologies for not much to report on this week, as I have been very busy with school, I will do my best to put out a couple posts this weekend, as well as do some live-streaming, of the gold-making variety. Also, I would like to announce that I am going to be starting my own podcast series called "The Happy Hour, with The Drunken Mogul". Once a month I will be hosting/live-streaming a round table discussion on gold-making with some of gold-making community. If you would like to be involved in the round table, would like to be a guest, or just have some topics/questions you would like to have discussed on the show email me at: goblinraset@gmail.com.
Thanks,
GoblinRaset
The Drunken Mogul
This week I had 135.2k in gross sales, 65.4k in purchases, and 69.7k in profit. There was no real market that stuck out at me this week, like last week, so I will have to do more investigation but my general ideas are that it was just a little bit of everything selling and adding up.
This past week I did a guest post for @PhatLewtsGold over on his blog about some basic market manipulation. You can read that post here: Market Manipulation Drunken Mogul Style.
My apologies for not much to report on this week, as I have been very busy with school, I will do my best to put out a couple posts this weekend, as well as do some live-streaming, of the gold-making variety. Also, I would like to announce that I am going to be starting my own podcast series called "The Happy Hour, with The Drunken Mogul". Once a month I will be hosting/live-streaming a round table discussion on gold-making with some of gold-making community. If you would like to be involved in the round table, would like to be a guest, or just have some topics/questions you would like to have discussed on the show email me at: goblinraset@gmail.com.
Thanks,
GoblinRaset
The Drunken Mogul
Monday, April 22, 2013
Dealing With Others
Every gold maker out there has many stories about dealing with other people in regards to the items they are selling. For me my interactions have been minimal and for the most part very cordial, and none really worth mentioning or screenshotting. That is until today..... muahahahaha. Now on with the post.
So, I logged onto an alt server where all the gold making I do is dealing with the flipping markets, the toon started with 100g and is now sitting at 10k, and saw this nice little mail in my inbox. My initial response was actually ok 2k is a decent price for the item, so ran over to the AH and started looking for the item, but could not find it on the AH. That is until I found this.....
Now, this just goes to show that if the person wants the item bad enough they will pay almost any price for it.
Shortly after this I logged off, then got a notification of an Uber Blue item on the AH for cheap. So, logged back on and was greeted with this very friendly in-game msg.
Messages like this don't and never will bother me, I just reply 'ok' and go on with my life. So no harm to me, but apparently this person will be thinking about me for awhile, since he spent the time to add me to friends list and message me right when I logged on, which takes way more time than I am willing to spend thinking about him.
Of course, someone will say, but you did spend a lot of time thinking about him since you wrote a whole post about him. My answer to that is, this post took all of 15mins to write, and wrote it because it made me laugh. So, time well spent and now time to go back to collecting gold, and trying to hit 300k tonight before my weekly recap.
GoblinRaset,
The Drunken Mogul
So, I logged onto an alt server where all the gold making I do is dealing with the flipping markets, the toon started with 100g and is now sitting at 10k, and saw this nice little mail in my inbox. My initial response was actually ok 2k is a decent price for the item, so ran over to the AH and started looking for the item, but could not find it on the AH. That is until I found this.....
Now, this just goes to show that if the person wants the item bad enough they will pay almost any price for it.
Shortly after this I logged off, then got a notification of an Uber Blue item on the AH for cheap. So, logged back on and was greeted with this very friendly in-game msg.
Messages like this don't and never will bother me, I just reply 'ok' and go on with my life. So no harm to me, but apparently this person will be thinking about me for awhile, since he spent the time to add me to friends list and message me right when I logged on, which takes way more time than I am willing to spend thinking about him.
Of course, someone will say, but you did spend a lot of time thinking about him since you wrote a whole post about him. My answer to that is, this post took all of 15mins to write, and wrote it because it made me laugh. So, time well spent and now time to go back to collecting gold, and trying to hit 300k tonight before my weekly recap.
GoblinRaset,
The Drunken Mogul
Tuesday, April 16, 2013
Changes to the 77-80 Green Market coming in 5.3
In 5.3 Blizzard will be introducing a new vendor in Mount Hyjal and Vashj'ir, they will have lvl 80 ilvl 232 gear for sale. You can check out the patch notes for yourself here. Now a lot of people have already chimed in on this change, and I just thought I would give me thoughts on how I will be adjusting my strategies for 5.3.
Since, this vendor is appearing I will most likely stop buying these items a couple of weeks before 5.3 is planning on launching. This may be soon, but I have a feeling it won't be for at least a month or so, as there are still many changes to the patch notes being made. However, I will not stop buying all lvl 80 items, only most. This is due to the fact that, right now at least, the vendor does not sell shoulders, wrist, belts, and trinkets. As you can note from the screenshots below.
So, those are my thoughts on the matter of how the market will change. It will become the 77-79 greens market, with some 80 shoulders/wrists/belts/trinkets, at least for me and those reading this hopefully. As there is never any reason to leave money on the table, whether in life or in WoW.
Also, be sure to check out the post by Power Word: Gold here.
Thanks for reading,
GoblinRaset
The Drunken Mogul
Also, be sure to check out the post by Power Word: Gold here.
Thanks for reading,
GoblinRaset
The Drunken Mogul
Weekly Review: 4/9-4/15
This past week I had a pretty good flip on an item I bought for 100g (99g99s), and turned around and sold it for 2275g, a nice profit of 2175g (2165g after deposit fees). This item "Glowing Wind Bracers" is one of the group of blue items in the lvl 80-85 range referred to as Uber Blues, due to it's very high ilvl. So, I will definitely be sure to keep an eye out for these items when they dip below the price I am willing to pay for them.
This week my best selling craftable item was the venerable "Lord Blastington's Scope of Doom". Selling 8 of them for 8867g(total), or about 6.5k g profit. I'm not sure why these all of a sudden spiked in demand like this, maybe the stars aligned and all the hunters on my server got new bows/guns this week.
And, finally my biggest purchase this week, was by far Golden Lotus. Spending 22k in the last 7 days. The reason I bought all of this is described in more detail in my post, The Importance of Market Research. Be sure to give it a read, as I'm not really going to go into the details of the purchase here.
Conclusion:
While on paper this week looks good, it wasn't that good, but am happy with the progress I have made and the progress I am still making.
Also, if you haven't checked it out already, I was honored to be a quest on The Cross-Realm podcast hosted by WoWProfitz of wowprofitz.com. You can check out the episode here: http://wowprofitz.blogspot.com/2013/04/the-cross-realm-podcast-7-with-drunken.html.
Thanks for all the support,
GoblinRaset
The Drunken Mogul
Friday, April 12, 2013
Engineering and TSM_Crafting guide
Over the past couple of weeks I have been listening to podcasts, watching livestreams, and just immersing myself in the gold making community. When I first started making gold I only had 2 maxed professions, Alchemy and Engineering. Now I'm sure most of you out there are saying to yourselves, 'eww engineering, drop that shit and get JC'. However I have and still do really enjoy this profession, and in all honesty it has proven to be a very good earner for me over the past months. According to my records, Engineering alone is responsible for 30% of my total gold earned, since I started seriously trying to make gold. So without further ado, here is my guide on how to utilize TSM_Crafting to get the absolute most out of Engineering.
First thing's first:
The first thing I must start of saying is that, even though I'm sure most reading this already do, you need Tradeskillmaster and it's module TSM_Crafting, at the very least though I highly suggest getting all of the modules. Also, you will need the TheUndermineJournal GE Addon.
Now on the the guide:
Now that TSM is installed, we are going to go in and start setting things up.
First we are going to select the Auctioning Groups/Options tab, the one that looks like a giant gold coin on the left side of the TSM cogwheel. Now we are going to setup a couple categories for us to use. To do this, select the 'Categories/Groups' option in the sidebar on the left side of the window. Then we are going to select the 'Create Category/Group' tab, this is where we name our categories. Under 'Add Category', in the 'Category name' dialog box we are going to type the name of the category we wish to create, for the purposes of this guide I am just going to call it "engineering - craftables", then hit enter to create it.
Now that we have the category setup let's go ahead and setup some of the options in the category, this way when we add the items that we wish to craft/auction we won't have to go in and set each one up individually.
Select the category you just created, and select the "Category Overrides" tab. Now, I'm not going to go over all of the setting just the ones that are important for this guide.
First, we need to select how long we want to post these items for, since I am able to get on at least once a day I like to post items for 24hrs, this way I have a little wiggle room if I can't get on at night to do some reposting. Next is the post cap, I set this at 2, this way if 1 sells there is still one on the ah, and if both sell then I have a nice chunk of gold coming in to re-craft and post them back up. As for the per auction, we are going to set this at 1, so we post 2 stacks of 1 of each item we craft.
On to the fun stuff, pricing, for the threshold we are going to use the "% crafting cost" then set the price threshold at 120%. Next we are going to set the Fallback to 200% of 'TUJ GE - Market Average'. Finally, set the 'Reset Method' option to 'Post at Fallback', this allows you to do a 'soft' reset of the market without having to buy out everything that is cheaper than yours (Though this can be done, but I don't recommend it until you are more comfortable with the market).
Crafting:
Let's get to the part I know everyone came here for how to setup Crafting for engineering.
Select the Crafting module, it's the one that looks like a dragon's eye icon, and select the "Price / Inventory Settings" tab. Set the Mat prices as 'Market Value', and set the craft prices as "Minimum Buyout". Finally set the 'Profit Deduction' to 5% to account for the AH cut, or if planning on sending cross-faction set this to 20% to account for the 15% from the neutral AH then the 5% from the faction AH.
Now we are going to setup the Queue Settings, for these I set the method as a 'Percent of Cost', then set the 'Min Restock Quantity' to 1, the 'Max Restock Quantity' to 2, and the 'Minimum Profit (in %)' to 25%.
Choosing Stock:
Next we head into the profession tab for Engineering, it's at the bottom of the window and looks like a cogwheel(sprocket). Then we are going to go down through the lists of items that we can craft and click 'Disable All Crafts', don't worry we are going to go back through and select the items that we do wish to craft. Once that is done, let's start finding the items we want to craft.
The very last thing we need to do in this area of TSM_Crafting is set a price for Spirits of Harmony, to do this we are going into the 'Materials' section, then locate 'Spirit of Harmony' right-click on it to open a popup window that allows us to override the price of items. In this window we are goin to select 'Override Price Source', then select 'Multiple of Other Item Cost', in the 'Other Item' box enter 72238 (which is the item id for Golden Lotus) and in the price multiplier enter '2'.
Now for the easy part, open up your Engineering profession, and open the TSM_Crafting window by clicking the button above the profession window. Once open, click the 'Restock Queue' button to populate the crafting list. Now just start crafting, if you are missing and mats, go to the AH and use the crafting mats search (I'm not going to go over this here, will add it if there is enough requests for it). Once you have crafted the items, it's time to add them to the Auctioning Category we created at the beginning.
Go back to TSM, and select the 'Auctioning Groups/Options' tab again. Select the 'Categories/Groups' option, and go to the 'Quick Group Creation' tab. Find and select all of the items you crafted and hit the add button. In the 'Add Groups to Category:' drop-down select the category we created 'engineering - craftables', then click 'Create Groups'.
Congratulations, you are now ready to go post your items on the AH, just remember that when you craft a new item to be sure to add it to the category in it's own group like I showed you.
GoblinRaset
*********************************************************************************
Warning this is not a beginner's guide to TSM_Crafting, other's have done much better than I ever could at explaining in much more detail.
*********************************************************************************
First thing's first:
The first thing I must start of saying is that, even though I'm sure most reading this already do, you need Tradeskillmaster and it's module TSM_Crafting, at the very least though I highly suggest getting all of the modules. Also, you will need the TheUndermineJournal GE Addon.
Now on the the guide:
Now that TSM is installed, we are going to go in and start setting things up.
First we are going to select the Auctioning Groups/Options tab, the one that looks like a giant gold coin on the left side of the TSM cogwheel. Now we are going to setup a couple categories for us to use. To do this, select the 'Categories/Groups' option in the sidebar on the left side of the window. Then we are going to select the 'Create Category/Group' tab, this is where we name our categories. Under 'Add Category', in the 'Category name' dialog box we are going to type the name of the category we wish to create, for the purposes of this guide I am just going to call it "engineering - craftables", then hit enter to create it.
Now that we have the category setup let's go ahead and setup some of the options in the category, this way when we add the items that we wish to craft/auction we won't have to go in and set each one up individually.
Select the category you just created, and select the "Category Overrides" tab. Now, I'm not going to go over all of the setting just the ones that are important for this guide.
First, we need to select how long we want to post these items for, since I am able to get on at least once a day I like to post items for 24hrs, this way I have a little wiggle room if I can't get on at night to do some reposting. Next is the post cap, I set this at 2, this way if 1 sells there is still one on the ah, and if both sell then I have a nice chunk of gold coming in to re-craft and post them back up. As for the per auction, we are going to set this at 1, so we post 2 stacks of 1 of each item we craft.
On to the fun stuff, pricing, for the threshold we are going to use the "% crafting cost" then set the price threshold at 120%. Next we are going to set the Fallback to 200% of 'TUJ GE - Market Average'. Finally, set the 'Reset Method' option to 'Post at Fallback', this allows you to do a 'soft' reset of the market without having to buy out everything that is cheaper than yours (Though this can be done, but I don't recommend it until you are more comfortable with the market).
Crafting:
Let's get to the part I know everyone came here for how to setup Crafting for engineering.
Select the Crafting module, it's the one that looks like a dragon's eye icon, and select the "Price / Inventory Settings" tab. Set the Mat prices as 'Market Value', and set the craft prices as "Minimum Buyout". Finally set the 'Profit Deduction' to 5% to account for the AH cut, or if planning on sending cross-faction set this to 20% to account for the 15% from the neutral AH then the 5% from the faction AH.
Now we are going to setup the Queue Settings, for these I set the method as a 'Percent of Cost', then set the 'Min Restock Quantity' to 1, the 'Max Restock Quantity' to 2, and the 'Minimum Profit (in %)' to 25%.
Choosing Stock:
Next we head into the profession tab for Engineering, it's at the bottom of the window and looks like a cogwheel(sprocket). Then we are going to go down through the lists of items that we can craft and click 'Disable All Crafts', don't worry we are going to go back through and select the items that we do wish to craft. Once that is done, let's start finding the items we want to craft.
- First up is the armor section, in here the only thing that is worth making is the 'Mist-Piercing Goggles'. In the Guns section we want to craft, 'Big Game Hunter' and 'Long-Range Trillium Sniper'.
- In the Scopes section we want to craft, 'Lord Blastington's Scope of Doom' and 'Steam Tonk Controller' (I know it's not a scope but its in that section and it sells for a pretty penny). We also are going to select 'Mirror Scope' not for selling but so TSM knows that I can craft it (when it's cheaper than buying it of ah). To do this we select it like normal then right click and select 'Don't queue this item.', which will keep tsm from queueing it unless it is needed to make another item (in this case 'Big Game Hunter').
- I skip the consumables and explosives sections.
- In the Companions section, select 'Enable All Crafts' to make sure they are all selected. These will be some of your top earners along with Lord Blastington's scope.
- In the Trinkets section we are going to select 'Ghost Iron Dragonling'.
- Finally, in the Misc Items section we are going to add a lot of stuff. Firstly, go through and select all of the 'Tinker's Gear's" there are 8 of them, Flashing, Fractured, Precise, Quick, Rigid, Smooth, Sparkling, and Subtle, one for each of the secondary stats.
- Now we are going to select some items that are going to be needed for crafting, or what I call craftable mats. The ones we need to select, besides the Mirror Scope, which we already setup, are:
- Gyrochronatom
- Fused Wiring
- Gold Power Core
- Truesilver Transformer
- Ghost Iron Bolts
- Thorium Widget
- Handful of Obsidium Bolts
- Electrified Ether.
The very last thing we need to do in this area of TSM_Crafting is set a price for Spirits of Harmony, to do this we are going into the 'Materials' section, then locate 'Spirit of Harmony' right-click on it to open a popup window that allows us to override the price of items. In this window we are goin to select 'Override Price Source', then select 'Multiple of Other Item Cost', in the 'Other Item' box enter 72238 (which is the item id for Golden Lotus) and in the price multiplier enter '2'.
Now for the easy part, open up your Engineering profession, and open the TSM_Crafting window by clicking the button above the profession window. Once open, click the 'Restock Queue' button to populate the crafting list. Now just start crafting, if you are missing and mats, go to the AH and use the crafting mats search (I'm not going to go over this here, will add it if there is enough requests for it). Once you have crafted the items, it's time to add them to the Auctioning Category we created at the beginning.
Go back to TSM, and select the 'Auctioning Groups/Options' tab again. Select the 'Categories/Groups' option, and go to the 'Quick Group Creation' tab. Find and select all of the items you crafted and hit the add button. In the 'Add Groups to Category:' drop-down select the category we created 'engineering - craftables', then click 'Create Groups'.
Congratulations, you are now ready to go post your items on the AH, just remember that when you craft a new item to be sure to add it to the category in it's own group like I showed you.
GoblinRaset
Wednesday, April 10, 2013
The Importance of Market Research
This weekend, I finally got my JC up to max. So, naturally I was very excited to get to work churning out some gold with it, like so many others before me. However, in my excitement I didn't take the time to fully research and understand how it is you go about making gold in this peculiar market. This misstep led to me (partially) wasting approximately 20k gold. While, this is a large amount of gold to waste on such a dumb thing as not taking the time to properly do my research, like I have done with so many other markets that I am currently participating in.
However, now looking back, I have realized that I can use this as an opportunity to learn, and to utilize my mistakes to make gold in other areas. But, before we get into that I think I should explain exactly what I did to make this mistake.
I was using @Xsinthis' Golden Crusade Shuffler, which is a great tool but when used incorrectly can lead to mistakes like the one I made. Anyways, I plugged in my info and went about trying to maximize that end number (PROFIT!!). Which at the time was to turn all my green gems into rares through transmuting. I spent about 18k on Golden Lotus to do this. Afterwards, I realized that now I have 50ish of every color rare gem and nothing really to do with them, since I just hit max level and don't have many cuts available to make for them. So my options are to try and sell them uncut, which after the purchase of the Golden Lotus' was not profitable (actually would have been a loss) and try and recoup some of the gold, or to hold onto them and wait till I learn some more cuts that would be profitable. I have decided that I would do a combination of both, when the gems are profitable to sell uncut I do so, and when I learn a new cut that is profitable I will be making those.
As for the remaining 6 stacks of Golden Lotus, I am going to be using it to make flasks and Potion's of Luck.
From now on I am most definitely going to be doing all the necessary research to understand exactly what it is you need to do in any given market to maximize your profits.
Also this week, after listening to @PowerWordGold's podcast with guest @Erogroth, where they talked about how important it is that you have your threshold and fallback settings setup correctly, I have been going back and reviewing all my settings, making sure they are set to not only maximize my profits but also to make sure they will never cause me to lose gold by selling below cost.
Also, this week, besides the launch of my own blog we have had several others launch this week. So a special shout-out to them, @Erogroth has his blog over at Get Rich WoW and @ThairusGold has his over at Thairus' Creative Accounting. I wish them all the best in their journeys in this game of World of Warcraft Gold-Making.
GoblinRaset
However, now looking back, I have realized that I can use this as an opportunity to learn, and to utilize my mistakes to make gold in other areas. But, before we get into that I think I should explain exactly what I did to make this mistake.
I was using @Xsinthis' Golden Crusade Shuffler, which is a great tool but when used incorrectly can lead to mistakes like the one I made. Anyways, I plugged in my info and went about trying to maximize that end number (PROFIT!!). Which at the time was to turn all my green gems into rares through transmuting. I spent about 18k on Golden Lotus to do this. Afterwards, I realized that now I have 50ish of every color rare gem and nothing really to do with them, since I just hit max level and don't have many cuts available to make for them. So my options are to try and sell them uncut, which after the purchase of the Golden Lotus' was not profitable (actually would have been a loss) and try and recoup some of the gold, or to hold onto them and wait till I learn some more cuts that would be profitable. I have decided that I would do a combination of both, when the gems are profitable to sell uncut I do so, and when I learn a new cut that is profitable I will be making those.
As for the remaining 6 stacks of Golden Lotus, I am going to be using it to make flasks and Potion's of Luck.
From now on I am most definitely going to be doing all the necessary research to understand exactly what it is you need to do in any given market to maximize your profits.
Also this week, after listening to @PowerWordGold's podcast with guest @Erogroth, where they talked about how important it is that you have your threshold and fallback settings setup correctly, I have been going back and reviewing all my settings, making sure they are set to not only maximize my profits but also to make sure they will never cause me to lose gold by selling below cost.
Also, this week, besides the launch of my own blog we have had several others launch this week. So a special shout-out to them, @Erogroth has his blog over at Get Rich WoW and @ThairusGold has his over at Thairus' Creative Accounting. I wish them all the best in their journeys in this game of World of Warcraft Gold-Making.
GoblinRaset
Subscribe to:
Posts (Atom)