Makeing Thousands/Hundreds Gold / Day!

[jpte]

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Thanks and Credits to Gevlon at Greedy Goblin blog for originally writeing this guide.
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The glyph industry
Here is a complete and full guide on how to make massive amounts of gold with insciption!

Chapter 1: getting inks
The scribe uses inks and parchments to make glyphs. (Surprise!) Jessica Sellers is kind enough to sell us any inks for the highest level ink. Inks come from pigments. Pigments come from milling of herbs by scribes. Milling provides "white" inks, used for glyphs and "green" inks, used for various things. Most of these things are non-profitable, except the usage of the highest level green ink, snowfall ink, which is used to craft epic offhands, darkmoon cards, inscription research and inscribes self-enchant for shoulders.

To make the milling profitable the price of the inks must be higher than the price of the herbs. This seem to be obvious but it's not, since the "price of the inks" is not a properly established market price. Most scribes mill for themselves and not buy or sell white inks, therefore Auctioneer returns some random number as price of the inks.

Tip: sell inks. There are people who want a glyph, find it overpriced and wants to buy ink to bring it to a guild scribe. So there is market for single inks, I sell them for 5G.

You must define a price to the Ink of the Sea. This is an internal transfer price between your milling and glyph-crafting industry. This price determine the bottom price of the glyph. If you set it to 2.5G, you must not sell any glyphs below 3G or you are at loss. Of course if you set this price too high, you find too many "cheap" herbs and too few sellable glyphs, so you'll soon be drown into inks. You must modify this price according to your ink deposits. If they become too big, decrease the ink price (this will decrease herb price limit, so you'll buy less, and decrease glyph bottom, so you'll sell more).

Captain obvious says that if you find inks below your price or pigments below your price /2, you shall buy them instead of wasting your time with milling. Don't just check for Sea, you can find other inks/pigments too.

El has measured how many pigments come from the different herbs and found that it depends on the level of the herb. The first digit of the level defines what type of pigment comes (7x herbs give Sea, 6x herbs give nether). The second digit defines amount gained. It's 2.5+x*0.05, (so 2.6 pigment for the lvl 72 Deadnettle and 3 for the lvl80 Icethorn). The green pigment (Snowfall for 7x herbs) comes in the amount of 0.24+0.036*x.

With this in mind, the acceptable price of the herbs is the one below. In parenthesis you will find an example with my current prices, 2G/ink of the sea and 12G/snowfall ink:
Icethorn, Lichbloom (lvl80): herb_price * 5 = 1.5 * sea_price + 0.3 * snowfall_price (1.32G)
Adder's tongue (lvl 77): herb_price * 5 = 1.43 * sea_price + 0.25 * snowfall_price (1.16G)
Talandra's rose, Goldclover, Deadnettle, Tiger lily (lvl72): herb_price * 5 = 1.3 * sea_price + 0.16 * snowfall_price (0.89G)
Other herbs (approximated with lvl x5): herb_price * 5 = 1.38 * sea_price (0.55G)
After this price is determined, go to the AH and buy the herb with the lowest relative price. Relative means that an adder's tongue at 1G is cheaper than a felweed at 0.5G (since 1/1.16 is smaller than 0.5/0.55). When milling for "other inks", keep in mind that they are not interchangeable. So even if you can buy felweed for 0.1G, you can only use it for eternal ink and no other. However buying eternal ink from Jessica while cheap felweed is available is also a loss.

Please note that Snowfall price cannot be higher than 10x Sea price, since Jessica Sellers sells Snowfall for 10 Sea. So if the Snowfall has some insane price on your server, make some profit on it.

Since time is money, you can cut the herb buying and milling part if you make a business with a non-goblin scribe. Tell him to CoD you Ink of the Sea for your price. He can keep the Snowfalls and make some profit. This profit is around 1G/herb, not a bad income for buying herb, milling them and crafting the ink.


Chapter 2: crafting glyphs
If you made all the researches and bought all the books, you have 343 glyph recipes and 6 vellum recipes. If you have not finished research or not bought all books, you can and shall start. Some need 2 inks, most need 1 and also a parchment. If you have the addon "LilSparky's Workshop" the AH price of the glyphs will be listed on the crafting window. There will be 2 columns, first is the product price, the second is the crafting price, but this is useless, since the ink prices are screwed.
Those glyphs that has higher price than your base price (ink + parchment + minimal work fee) worth looking at.

Click on the glyph and you'll see 2 more important data:
The first data you must look at is the auctioneer undercut price. The glyph prices are very hectic, so the middle price is just a first filter. Auctioneer writes a price to the lowest row and a text telling "undercutting competition" or "competition above market" or "no competition" or "cannot undercut". If it's "cannot undercut", don't craft. If the undercut price is too low, don't craft.

If you have Possessions and Whohas addon, the tooltip shows how many glyphs your bankers have. You must have bankers since 4 scribe bags and a backpack hold only 144 glyphs. I have 3 bankers, beginners may run with 2. Theoretically you could use your bank, swapping bags but then you'd have no place for your raiding stuff. If your inscribe is an unguilded alt, you can get a guildbank to hold your extra inks. Always have at least a week's ink in the bank (or in an alt's bag), otherwise you may run out of inks in case of a herb shortage.

If you already have enough glyphs, don't craft, otherwise fill up your stocks. Of course "enough" depends on your pricing strategy, described tomorrow. You can just make enough glyphs to fill all up to 8 or 10, but there is a method to decrease workload during it.

I found no mean to automatically create more than one type of glyphs, a mod that would create 5 glyph A, 10 glyph B and 4 glyph C for one click would be a salvation. Since I know of none (and maybe cannot even exist due to Blizzard restrictions), you must sit by the crafting process. There are addons that allow you to queue crafting up, but you always have to push "continue queue", so no point. The time limiting factor is the crafting itself, I use this time to manually look at the next glyph, determine how many to craft.


The glyph industry - Part 2

There are 3 pricing methods, 3 different ways to get rich from glyphs. I prefer the third one and I both explain why and how. If you are not interested in market theories just want some gold, skip to the picture.



0. method: random seller. This guy has no industry. He is a scribe, leveling it and wants to sell the glyphs or maybe the guild needed one or he just wants to skip Hodir repgrind. He manually lists some glyphs. There are many of these guys and they list many glyphs at different prices.



1. Method: monopolist. He noticed that the glyph demand is inelastic. If some hunter respecs to surv, he will pay even 150G for a glyph of explosive shot. So our monopolist friend buys up all glyphs and lists some at very high price. Even if he have to destroy 5 glyphs he bought for 10G, the 6th will get him 150G income. Customers suck.

- Monopolist vs random seller: the random seller lists his glyphs for 1-20G. Monopolist buys them and relists them at 150. Random seller happy and post some more sometimes. Monopolist gets really rich, unless there are too many random sellers (usually it's not the case).
- Monopolist vs monopolist: this combination is impossible, if two monopolist meet, they either split up the market or one turns into an AH camper.


2. method: AH-camper. He notices that crafting price is much-much lower than market price. He also notices that glyphs have no deposit cost, so you can cancel-repost without fee. He scans the AH, craft a few glyphs of each and list them 1c below current price. He checks the market regularly (AH-camping), cancels all glyphs that have been undercut and repost again. His aim is to be the cheapest every time, but only by 1c.

- AH-camper vs random guy: Random guy posts. Unless he is lucky to find a buyer until the camper logs in, he won't sell anything and gets out of the market fast. AH campers make sure that random guy keeps away from glyphs and ordinary (non-goblin) people say "there is no money in inscription".
- AH camper vs monopolist: Monopolist buys up the glyphs of the randoms and campers. Campers and randoms happy. Camper logs in, undercuts monopolist by a copper. Monopolist can't sell anything and going bankrupt (or turns into an AH camper himself).
- AH-camper vs AH-camper: the one who checked last time is cheaper by a copper. They have each other on friend list and try to camp more. The market is divided according to the number of cancel-repost cycles. If you repost once a day, and others repost altogether 100 times, you'll have 1% of the sales on average. While prices are still high, gold/hour ratios can be terrible until the competition gives up.


3. method: deep undercutter. "Deep" is a relative term, but it's surely not 1c. It means that in finite, not large number of undercut cycles the price reaches 0. For example I currently run with 60s undercut. It means I can drive a 20G price to 0 in 33 cycles. The deep undercutter doesn't camp the AH. Crafts many glyphs of each type (I currently run with 9), posts them undercutting the currently listed ones and forgets them for 48 hours.

- Deep undercutter vs random seller: random guy lists glyphs, sells some. Undercutter logs in, lists below him sells some. Other random guy logs in, lists below, sells some. Prices come down, random guy doesn't list more, in absence of competition the undercutter posts in "normal price" + 20-30% again, price reset, random guy lists again. More or less peaceful coexistence, the market is divided according to number of glpyhs posted.
- Deep undercutter vs monopolist: Undercutter lists glyphs at "normal price" + 20-30%, as he find no cheap glyphs. Monopolist buys them up, undercutter happy. Monopolist sells high, happy too. Prices slowly climb up as the auctioneer "normal price" includes the monopolist's price. Peaceful coexistence, everyone sell, customers suck.
- Deep undercutter vs AH-camper: Undercutter lists at current price - undercut value. Camper undercuts him by a copper, he sells, deep undercutter gets everything back. Since the glyphs of the camper are still there, he lists below them by undercut value. Camper undercuts him by a copper, he sells, deep undercutter gets everything back. This cycle goes on, and every time the price decreases by undercut value. When price gets to the bottom, the deep undercutter still doesn't sell anything, so his work is only to empty the mailbox and repost glyphs once every 48 hours. On the other hand the AH camper sells, so he has to mill, craft, list, cancel, relist, fight other campers and random guys, for 0.1-0.5G/glyph profit or even for a loss. It's clear who will give this up (after creating some material to my "morons of the week" posts). As soon as the camper leaves, the prices slowly climb up.
- Deep undercutter vs deep undercutter: prices drop fast, and soon reach near-zero profit. After the last camper gives it up, they both start to sell, so they have to mill and craft for nothing. The one with less patience, money (or the one with an idea to enter other business like JC) will leave, giving the market to the other one.


This is kind of a rock, paper, and scissors game. The camper beats the monopolist, the undercutter beats the camper and the monopolist beats the undercutter (in a sense that he makes more profit, however the undercutter is still in profit this time).

It's true that in less frequented servers with no serious competition the monopolist makes a killing, and with little competition the AH camper dominates the market. However on a mature market there is only one will survive: a deep undercutter.


Now let's see how this deep undercutting goes:

Select every glyphs one by one once on the Appraiser tab of auctioneer. For each of them set single stack size, sell all, 48 hours duration, "market" pricing, enable price matching and batch posting. After you done this, all you have to do is press Ctrl-Alt-Shift Batch post. It will list all glyphs in about 10 minutes.

2 days later you collect the unsold glyphs, the money after the sold ones, scan the AH, (do it when your glyphs are not on the market) og to your crafter, craft enough glyphs to fill your stacks, send them to the seller alts, and all you have to do is press Ctrl-Alt-Shift Batch post. About 30 mins of active time and 2 hours of AFK-semi AFK time every 2 days (you have to click after a min when getting mails from the mailbox)

One more thing left: how to configure undercutting. The amount depends on the market situation. 40-60 s is usually enough. However if you don't sell and one-two guys are listed on the top of every glyphs with 1-2 copper undercut, you have an AH camper. Set the amount to 2-3G until the prices go below 5G and get rid of him. If the prices are below 5G, set the amount to 30-40 silver since otherwise you'd undercut a 4G auction to 1G and you'd be at a loss.

Don't set the "max under market" too high, or a single random guy will ruin your price for weeks. With my 40% setting if someone post glyphs for 1G (as leveling idiots do) I simply ignore it. His glyphs sell (or someone flips them), the price stays. Nor it set too low. The 40% means that if the market price is 10G, I undercut competitors above 6G (with 60s) and ignore the others.

Don't set the "max over market" too high or the campers come back.


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Thanks and Credits to Gevlon at Greedy Goblin blog for originally writeing this guide.
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[[Ichigo]]

Just a copy paste.But I am glad anyway for giving credits to original writer.
+reputation

[jpte]

I just wanted to make it avaible for all MMOWNED readers! There are thousands of wow-money makeing blogs out there and millions of posts and i found THIS ONE especially helpfull and have made tons of Gold with it.

[Pthaos]

You might want to stick a credit to Gevlon at the top. I was about to write an essay on how this is blatantly stolen after reading only a few paragraphs, and didn't see the credits until I scrolled down to check if others had beat me to it

[Ginchy]

http://www.mmowned.com/forums/wow-gu...e-scribes.html

[amunro]

I just wanted to make it avaible for all MMOWNED readers! There are thousands of wow-money makeing blogs out there and millions of posts and i found THIS ONE especially helpfull and have made tons of Gold with it.

If that is the case, then you should say that it is not yours.. it can be missleading.

[jpte]

You might want to stick a credit to Gevlon at the top. I was about to write an essay on how this is blatantly stolen after reading only a few paragraphs, and didn't see the credits until I scrolled down to check if others had beat me to it

Okay, Fixed that now so theres Credits at the top. And ye i´ve seen the one Ginchy is linking, its good; but I like this one more.

In addition I think its really lame how I only try to be helpfull and link this guide i found, but all people do is Flame and QQ

[heke01]

managed get only 300g in 2 weeks full populated server... many glyphs dosnt sell at all and some is full filled in AH got all self learned and around 15 from books still aint making good profit as inscription.

[[Z]em]

overall, nice guide.

[Mad man]

this is old and SLOW.... try actionator and quick auction to make a crafting list and quick posts.

auctionnator let you make shopping list to buy herbs and ink quickly.

bit more configuration to do then auctioneer, but really worth it if you plan to take control of your server economy.

i think i'll make my own guide on how I reach 100k+ golds in a couple of weeks.

[KimBo]

inscription is a shit profession for money making for 99.999% of people.

almost every server has the AH camper guy who checks AH every half hour and relists everything. its impossible to make any gold off of this unless you can match the amount of time he spends checking and relisting everything.

i just want you to imagine relisting 500 auctions (glyphs are not sold in stacks) every 20 mins or so. its not fun.

much better to level alchemy.

i just want people to understand what they are in for before they level inscription. sure if you're the AH camper type you can make a LOT of money from this, but if you're not you're gonna lose a lot of gold.

[Smirdzius]

inscription is a shit profession for money making for 99.999% of people.

almost every server has the AH camper guy who checks AH every half hour and relists everything. its impossible to make any gold off of this unless you can match the amount of time he spends checking and relisting everything.

i just want you to imagine relisting 500 auctions (glyphs are not sold in stacks) every 20 mins or so. its not fun.

much better to level alchemy.

i just want people to understand what they are in for before they level inscription. sure if you're the AH camper type you can make a LOT of money from this, but if you're not you're gonna lose a lot of gold.

Ja Ja Ah campers cant check all of the glyphs. You always can undercut him

As far as I know Gevlon does not like that his guides are published somewhere without his allowance

[KimBo]

Ja Ja Ah campers cant check all of the glyphs. You always can undercut him

As far as I know Gevlon does not like that his guides are published somewhere without his allowance

what are you talking about, it takes 3 minutes to check 280 glyph auctions with auctionator... and then 2 minutes to repost everything that got undercut

[jusso]

I just recently started reading the Greedy Goblin's blog and i must say its a really good website!

[jpte]

I just recently started reading the Greedy Goblin's blog and i must say its a really good website!

Indeed