[Gold question(s)] Making money on Ah, selling and buying.

[Potatojuice]

Hello,

I'm a veteran WoW addict with some questions!

I recently started trying to make gold on the Auction house via Buying cheap, selling expensive. Ive gone from 1k gold to 4k gold in about 4 weeks.

Yes, it's dissapointing, especially when i compare my profits to those of others who are far more effective and this particular method of making hard cash.

Now i was wondering a couple of things about what i am doing wrong.

Here's what i do now:

I scan several items using Marketwatcher. This includes all volatiles. Blue gems, herbs, ores and some enchanting materials. ( all of these are cata mats only)

I have a fairly good knowledge of prices, but really for each week only.

Now i go online, scan the items, look for stuff that is cheap and buy it and post it for a higher amount. With this i make about a hundred gold in a few days. Is this wrong?

I think my main problem is that i don't know when a price is going to go up or down, all i do is check if something is cheap and post it straight after buying.

How can i know/learn when a price is going to go up or down? Should i hold on to items and wait for it to rise or am i just buying the wrong items?

On several occasions ive bought a ton of items cheap, tried to sell them for higher and then the price just kept dropping and dropping while i couldn't get rid of it without making losses, how can i prevent something like this from happening and make up for it when it does?

Another 'problem' I think i'm having is that i only make like 1g profit on each single item. Is this low or is it quite normal for people to have these kind of profits?

I check about twice each day if there's some items that are cheap and more often than not I barely ever find anything at all that i can buy, resulting in just nothing happening. All of the previous things combined make for a very weak income and it really makes me sad.

My last question is, how do you know which items are good to make money with? For example im now focusing on materials for proffessions ( raw only) which only go for about 15g each ( that is 15 for 1 item) or less even.

I'm really dissapointed in myself for being this dedicated and just always failing.. I need some help from the experienced player that is you!

Thanks in advance.

[supguise123]

If you wanna start up with low capital i think best way to go is low level materials.

I've done lots of profit with example, different low level cloths, bars/ores, leather (not so much with leather but still decent).

So it goes like this. You buy very cheap cloths, if there is not much of them you can just buy all of them if there isnt many of them for ''high price'' Example: I have bought cloths for less than 1g each, sold 5-7g each later. Yes it may take time or some investments to get the price up, but once you find few buyers 20 stacks go fast, and you just made 500% profit.

I would start with that or shuffling cheap obsidium ore

[dbalauca]

I have a few tips for you :

1. Use your professions. If you sell mats have in mind that other people will buy your mats only to make more expensive items. So you loose money.

2. Buying cheap and selling expensive it's pretty stupid in my own personal opinion. Never managed to do too much profit using this method. Maybe I also suck who knows ... Instead of buying cheap and reselling I would recomend you to buy mats, craft items and sell. This way you craft an item cheaper than you would have bought it and you get some profit.

Extend this ideas and it should work just fine.

Good luck.

[Swiftle]

Buy cheap sell normal. Selling expensive only works if there's a high demand and low supply which isn't the case for cata mats. Also start with low level markets, you will be surprised with the ammounts of gold you can make. And remember that 500 a day for a week is the same as 3500 in a day but the second is less likely to happen. And as a final tip starting bidding.

[OrphanedMug]

Hey, Depending on server most prices on Tradeskill items drop in price on the weekends due to more people playing I'm guessing, So keep an eye on Ores, Volatiles, herbs and depending on how much your willing to risk/spend buyout all or 1 type and leave it untill midweek to resell for a higher price.

Example Server I'm on weekend Volatile Life price is 4g per, But midweek prices go from 7-9g per so its not a huge amount but when you have a large stock saved up it all adds up in the end

Weekends are a great time to buy cheap and then resell for higher or the normal average price.

Never buy Weapons or Armour it might look like a huge profit "If" you can manage to sell it best bet is to stick to Tradeskill items.

[euanc]

A very easy way I make money is to read the in depth patch notes.
For example, if Volatile fire droprates are getting a huge nerf in a coming patch, buyout the AH when they're at 100g pre patch then post them at 500g post patch.