MoneyMaking Guide: Summary

[Maydie]

Hello!
I've made my very own WoW MoneyMaking guide with Addon list, explanations, tips & tricks.

I'll tell you ways to approach the aspect of moneymaking, such as the most common;

Buy cheap, sell for maximum prize.
Monopoly.
Professions.
Fake Competition.
Undercutting.

Professions:

I look at professions as the most common and reliable way to make money in-game.
And it is not by taking a small fee for your crafts, but to exploit them to the outmost.
This is some of what I will try to teach you in this guide.


Addons:

To ensure that you manage to keep a close watch of the market on your server, I suggest you download:
Auctioneer Addon
This is an addon that gives you a whole other display at Auction House.
Saves scans and shows Disenchant Value of different items.
Scans are the most important thing with this addon, to maintain a stable database, you should scan the AH once a day.
Only after 2-3 weeks with a given scanning, you have a stable database that can help you answer the average prices of the various Items, Gems, consumeables, flasks, herbs, etc. on the AH.

CT Mail Mod is a great addon if you are spending a lot of time on the AH.
This addon allows you to open all your emails at once, and you do not have to press each and everyone of them, one by one.

Back to the professions, I will now write a few paragraphs for the profession I feel I have a clue on, so you can maximize the effectiveness of them.


Alchemy:

Alchemy is a very nice profession.
You may feel that there's only expenses with this profession, but theres a great income if you know how to use it properly.
As with all other professions, you need a small initial capital to get started with the "business".
But I assume that most people here have the starting capital that is needed.
The first thing to do is to check the prices of Flasks and compare them with the Materials prices.
For example; to create 50 flasks, and the Materials needed for each flask is 55 gold, and the flasks sell for 60 gold.
You think more likely, as everyone else, that it is not worth it considering that you're not a 100% sure the flaks will sell.
I'd said, it is by all means worth it! When creating the 50 flasks, you can expect to end up with 65-80 flasks when you are done (PGA proccs, you wouldnt be creating flasks if you weren't Elixir master!).
Let's say you end up with 75 flasks when you had enough materials to only do 50, and the price of the flasks are 60g each.
You will end up with a profit of 1500 gold in proccs, and with earnings from flasks which are in miserable 250 gold.
You can easily earn 1750 gold in a short time period. And be smart and put out the bottles at the right time of day, 18:00 is a good time because most people start with raids around 19:00.


Enchanting:

Enchanting is a very expensive profession to level, but for what I will teach you now, you do not need to level it to the max cap.
For this you will need Addon "Acutioneer enchantrix" which I've posted a link to earlier in the guide.

Now that the prices of Infinite dust and Greater cosmic essence is sky high, is enchanting a good profession.
With Auctioneer enchantirx you will be able to see the Disenchant value of all items.
This is very good when you see the green items that are on the AH for let us say 11 gold piece.
And Disenchant value lies at 28 gold piece.
Then you must not hesitate, buy out all the green items, Disenchant, and the earnings will be bigger then the expenses.


Engineering:

This is a profession I have little knowledge of, but I am almost sure that it is the most expensive profession to level, as well as its the proffesion you'll earn literally nothing of.
But now that Engineers can create Motorcycle mount, you can earn some money on it if you are lucky (this requires great initial capital).
What you can do is to sell the mount, or craft it self.
Crafters, take 500g fee for it, while the mount, you can sell for around 20 000 gold. (mount costs 15 000 to craft!)


Leatherworking:

This was a very good profession in the beginning of WotLK.
You could easily earn thousands of gold in a few hours, this because the people wanted to gear up as quickly as possible.
But now that most have acquired Naxxramas & Ulduar gear,leatherworking isn't the most popular proffesion, but it is still possible to earn some money if you put the right price tag on it.
What you should do is to buy the Materials, for example "Ice Strikers Cloak" for 300g and sell it for 500g, then you have earned 200g profit on a item.
Another great way to make money on leatherworking is to turn Borean leather into Heavy Borean leather.
Let's say it costs 5g for each stack of Borean leather, you need 120 (6 stacks) Borean leather to make 1 stack of heavy borean leather.
So 6 * 5 = 30g, it will cost you 30g to make a stack of heavy leather Borean.
If heavy Borean leather costs more than 30g, then, it would be smart of you to turn Borean Leather intro Heavy borean leather.


Mining, Skinning and herbalism:

Are professions that goes without saying what to do, but I'm not a big fan of grinding all the way, so I advise you to keep away from these professionsene if you want to make money.
But they work well if you just want to earn a little cent now and then.


Undercutting:

Undercutting is not that good, it can destroy the market and you earnings will fall.
In some cases it may be okay to undercut, but it is not recommended to undercut items that are already far below the normal price.
It's better to wait a few days until the market goes back to normal, and you can get higher profits of what you sell.
Here is an Example.
You have 15 flasks you want to sell. And AH looks like this;
There's a person who has posted 3 flasks for 55g each, while it has the second cheapest flasks has a price of 70g each.
It will then be smart for you to undercut the person who put the bottles out for 70g each, by all means DO NOT undercut the person who put the flask on the AH for 55g each.
Because he will have sold his flasks within an hour and your flasks would be cheapest on the AJ.
If you had put your flasks on the AH for 50g each,it would cause people think the new price of the bottles is only around 45-60 gold.
Something that causes you to get lower profits.


Monopoly:

A monopoly is that you're in charge of all the supply of the special Enchanter / Crafts or item.
If you own such as all "Flask of endless rage" on your server, you can determine the price of each bottle, you can then set the price to 120 gold per flask, and if you also buy up all the Frost Lotus (main ingredient for flasks) on your server, you can controle this easier, because no other alchemists can make the bottles or underprice your prices.
You can then set the price of Frost lotus up to 60 gold a piece so you can earn money regardless of this strategy.
This type of monopoly won't last for long, and is not 100% to guaranteed.
But it worked well when I did it.
Another thing you can create a monopoly around is Enchants or Crafts.
If you've been really lucky, and is one of the first on your server to obtain a pattern or a recipe, you can create a monopoly around this.
Take a high fee, and dont let people talk you intro lowering the prices, always keep your price up.
When it then after a few days will be more who have obtained the specific pattern or recipe you can start discussing prices, and agree that you will take a certain amount of fee so you dont undercut eachother, which will destroy the monopoly.


Fake Competition:

This is a very nice trick to use, but requires knowledge of the market and do it with the right items / materials.
Lets assume that you own everything, let's say Frozen orbs, which is on your server.
You can then, as the in monopoly,decide the prices, but you remain hidden.
You send an equal amount of orbs to some of your other characters and you simply underprice the higher price you've set on your main character.
But dont underprice too mucg, just a few Silver.
If you do this with 3 characters will get people on your server to believe that frozen orbs have changed its price class, which they just have to put up with to buy frozen orbs at a price of,lets say, 100 gold piece.

This is basically a summary of my MoneyMaking during my Retail gaming period.

- Maydie

[JD]

Nice and complete guide mate, great work.

JD

[Maydie]

Thanks, Mate. I've been working on this for a while now

[Odins-Elev]

just a little tip, mailget2 is better than CT Mail Mod.

Nice Guide Mate

[Ground Zero]

Nice guide, you've taken your time to write this, I would rep you but I repped you the other day.

[merjalus]

Nice guide. Well actually knew this (kinda common sense for me ) but you deserve +rep.

[Maydie]

Thanks, as i said in the post, this is what i've learned by playing WoW over the years, and i've described ways of approach with my own words.
Most of you consider this as common sense, but think of all the new players out there

[vodkaboy]

Mining, Skinning and herbalism:

Are professions that goes without saying what to do, but I'm not a big fan of grinding all the way, so I advise you to keep away from these professionsene if you want to make money.
But they work well if you just want to earn a little cent now and then.

Mining and herbalism are the two biggest money makers in the game. No initial fee to level them and are in constant demand from most other professions. Inscription, Blacksmithing, Alchemy, Engineering and jewel crafting are all dependent on mining and herbing ensuring a steady source of income

[Maydie]

as i said, this is a summary of my previous retail life.

[paladinspwn]

bad color is very baddd

[Maydie]

how's that relevant to the post?

[Remus]

everything.

[Maydie]

No its not, you cant base a post on its colors:S

[Wolfeey]

You necroed this thread straights out of hell GonzalezRG. Besides, the info is old and outdated.