The Ultimate Farming Gold Guide: Auctioning Your Farming Drops For Insane Profits!

[nazgul111]

Very well Written Guide, while i didnt read more than few words of it i can see you have put a lot of effort into writing it, +5 Rep

[wanna993]

Thanks for the feedback.

TSM will undercut based on the lowest price in the auction house. So if the global market median is 150g, and someone has that same item in for 110g, TSM will post for 109g. How far below the GMM TSM will undercut by is determined by your minimum price setting for the operation we created which is (30% the global market median).

If there we're no other copies of your item on the AH already then this would be strange. But im welling to bet there we're - which is why it undercutted for so much.

I may be wrong. Check if this is happening.

A word on server prices: Server prices are determined by the players - not by the actual value of the item. That means an item price can deflate or inflate depending on what one person thinks the item is worth. (Or just doesn't care)

You can see it at work when someone posts a plain letter in the auction house for 2,000g and auctioneer picks it up as a deal.

Server prices are too suspect to data poisoning for my taste.

Ive tried both, and found it much more convenient to go with the global prices - as it reflects the opinion of the larger majority.

- Steve

Thanks will play around with settings.
While I agree with what you said about server price vs global median you still have to tailor your prices to your server's economy.
If the global median is 50g for x, but server median is 30g posting them for 45-50g will be a waste.
I personaly think global median is a guide to give you an idea about pricing, and then compare to your server prices.
Will get more into this as it is it's own challenge

[stevesgamebox]

Well said.

Heres a cool thing to think about too.. you know, if your the only person who has a specific item up - then technically you set the server price for that item (on the short term). It's an interesting concept, kinda like that ol chicken and egg proverb.

Also, I see what you mean about tailoring the price to your specific server. It's why I purposely put the minimum price as low as 30% so you get some extra wiggling room.

Thanks for the input

[Leapp]

+rep Really nice written guide and I think I'll be making lots in a future with your help stevesgamebox so thanks for that I also have one question about the server data. To keep my server prices updated should I download new 'Market Data XML and CSV' file everyday or every few days? Or is it the actual addon that I need to re-download to keep them updated? Could you also please tell me exactly in what folder I have to put the 'Market Data XML and CSV' so I know that it's actually new prices.

Thanks in advance.

[Alleez]

sup, awesome guide! just having some problems tho.. only get on tsm " invalid costum price "-“TUJGEmedian”" is a invalid word"
any help.. ?

will leave rep !

[Leapp]

Minimum Price: 30% TUJGEmedian Price
Normal Price: 95% TUJGEmedian Price
Maximum Price: 150% TUJGEmedian Price

Don't copy all of it.. For example '30% TUJGEmedian Price' ignore the 'Price' at the end and just copy '30% TUJGEmedian'. Hope this helps, this is something that steve should change.

[Alleez]

thanks for the info Leapp, gonna try it now!

[Alleez]

still get "invalid costum price" , invalid word "TUJGEmedian"

got the file from undermine and put the .xml file in my addon folder
any thoughts.. ?

[Leapp]

Kinda stupid to say but make sure you have both of these installed The Undermine Journal For Auctioneer Plugin and TUJ Server Data Add-on (make sure to select correct realm&faction before downloading). Apart from that I'm not sure what else could be done, I'm new to this my self, sorry.

[Alleez]

sorry for acting noobish here^^ but iam following the tut and still got that error, have both addons installed, have the csv+xml file for my server+faction but still got the error, guess i will have to w8 for steve to come home
ty anyway for the help leapp!

[gippy]

I got curious to see how much these low level green sellers would make and started doing this on my own around 15 weeks ago and have made around 900k gold so far. Started off with around 20 items and now i'm listing upto around 800, i went from always pvping and having next to nothing for gems and enchants, to not having to worry about gold at all.

Its a solid gold making method if you stick at it, nice guide.

[Leapp]

OK so I'm at the point where I started selling my green items and other junk on AH, just to test it out and see how much gold I could make. I know that I won't be getting all of it once because my quantity is still very low (around 100 items). After posting all the items my gold income summed up to 4.8k and that was about 4 hours of farming. So my real question is this how it's supposed to be? Because in the future when I will have large quantities of items I will have to sell all of them and eventually run of sales. At that point I will be forced to go and farm which would make it again around 4-5k per 4 hours. This brings me to the conclusion that I will still be making the same amount of gold and the auction part all behind of this is just to get them sold. That's how far I understand this.

Correct me if I'm wrong but that's how far I think this is. I know you also mentioned about re-selling undercut items but you haven't really explained how to do it, so maybe if you could show me some quick tips maybe then I could maximize my profits. I hope you understood my point and yet I still want to thank you for getting me started.

[stevesgamebox]

Thanks Leapp for catching this. Sorry if that confused anyone. Making the change =)

[stevesgamebox]

OK so I'm at the point where I started selling my green items and other junk on AH, just to test it out and see how much gold I could make. I know that I won't be getting all of it once because my quantity is still very low (around 100 items). After posting all the items my gold income summed up to 4.8k and that was about 4 hours of farming. So my real question is this how it's supposed to be? Because in the future when I will have large quantities of items I will have to sell all of them and eventually run of sales. At that point I will be forced to go and farm which would make it again around 4-5k per 4 hours. This brings me to the conclusion that I will still be making the same amount of gold and the auction part all behind of this is just to get them sold. That's how far I understand this.

Correct me if I'm wrong but that's how far I think this is. I know you also mentioned about re-selling undercut items but you haven't really explained how to do it, so maybe if you could show me some quick tips maybe then I could maximize my profits. I hope you understood my point and yet I still want to thank you for getting me started.

OK so I'm at the point where I started selling my green items and other junk on AH, just to test it out and see how much gold I could make. I know that I won't be getting all of it once because my quantity is still very low (around 100 items). After posting all the items my gold income summed up to 4.8k and that was about 4 hours of farming. So my real question is this how it's supposed to be? Because in the future when I will have large quantities of items I will have to sell all of them and eventually run of sales. At that point I will be forced to go and farm which would make it again around 4-5k per 4 hours. This brings me to the conclusion that I will still be making the same amount of gold and the auction part all behind of this is just to get them sold. That's how far I understand this.

You got the gist of it. But unless your servers AH is really really active, you will never run out of items to sale even if you upload every single day.

This system has a snowball effect. The gold made gets bigger and bigger with your item stock. As long as you can keep your item stock growing faster than you can sell it (which is really easy once you see how slow the items move) you will make more and more gold as a result of having larger stock.

My advice is to test it first. See if you can sell more than you can farm. With just 100 auctions I'm thinking you will probably get 7 or less to sell, and you know how easy it is to get 7 greens from a farm.

For example, in the BWL farm I posted, I can come up with 45 greens an hour. With only about 7% of my auctions selling I need at least 600 auctions posted, and even then 600 is a conservative number.

If I farmed for another hour (a different spot of course - don't want to over-saturate) and came up with another 70 greens for a total of 90 I would need about 1000 items or more to outsell what I got.

So you can never outsell. If you stay consistent with farming, finding new spots, and auctioning you just can't "make the same amount of gold".

As for the resale, that would take a whole other topic to cover completely, and I intentionally left it out. It is another great way way to go about it. It's what I teach in the "The Auction House Playas Course" my premium guide.

This strategy covers the farming side of amassing an auctioning wealth system, my gold guide covers the resale. The two (resale & farming) can be combined for maximum results. However, each of them work just fine stand alone.

Hope that answers your question.

- Steve

[stevesgamebox]

Also pick up this and see if it helps any. Im trying to backtrack my steps a bit. I had these add-on installed for so long it's hard to remember everyone that went into building the system.

The Undermine Journal GE - Auction & Economy - World of Warcraft Addons - Curse - I will add this to the original post