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A failed goblin

May 29, 2009
tags: ,

While I’m not the best at accruing gold (without buying it), I’m not the worst, either. When we rolled on our current server, the Rogue and I loaded up Leota with the fish and ore we had been farming on our Alliance toons and sent her to our new server to set up shop and make our lower levels easier.

Once that money ran out, we decided the easiest way to grow gold was to have one character dedicated to it.

It’s a primitive system at best. We send our unusable greens/blues to our auction alt, who lives in Undercity. (That’s strictly for ambiance…all the pros say Thunder Bluff is easier since the mailbox and auctioneer are net to each other) I have Auctioneer installed and I scan the Auction House once or twice a day. I sell our greens and blues and keep the profits on her. And whenever we need to, we tap our “joint savings account.” Between our professions (mining on his, mining & jewelcrafting on mine) and her money management we’ve never wanted for anything.

But I’ve been hanging out on blogs like Skrooge, Greedy Goblin, WoWenomics and Just my Two Copper lately and thinking, “Can I do more? Can I BE more? Is greed good?”

Last week, I had all of Leota’s flying training/mount money ready to go. She didn’t train flight at 70, as she went to Northrend at 68 and I knew she couldn’t fly there until 77 anyway. So that’s 800 gold for Regular flying, 5,000 gold for Epic flying & 1,000 gold for Cold Weather flying. Plus, she was going to craft a Magnificent Flying Carpet and has most of the mats for it.

And then the goblin in me got greedy.

I saw a Jet’ze’s Bell on the AH for a 4,500 gold buyout. That’s good! Actually, that’s great! So I took a deep breath and spent most of Leota’s flying money to buy it. I relisted it at a 6,750 gold buyout, which is still a little under average for our server. I had done this twice before. No biggie. I’ll make over 2K profit, some of which’ll go toward Leota’s dual-spec. (Frost for soloing/group CC needs and Frostfire for mad group deeps methinks.)

That was four days ago. And. It. Will. Not. Sell.

Now Leota’s a measly 5 bars away from level 77 and FLIGHT! She’s also quite pissed at my auction alt. We’re talking Gordon Gekko level pissed. So now I have Akromah scurrying to make up the difference. She’s mining, she’s cutting gems, she’s reselling on the AH. Leota’s bank was full of enchanting materials, so they all went up for auction, too. (I’m leveling Leota as an enchanter strictly to disenchant things to sell on the AH, so this was good practice.) Spike is fighting mad.

I suppose until the bell sells (The bell WILL sell, right? RIGHT???) I will settle for spending for 1,800 for regular and cold weather flying and craft the ghetto carpet.

But the bell will sell.

RIGHT?!?

Related:
My favorite Grimm’s Fairy Tale: The Fisherman and his Wife.
Gordon Gekko’s “Greed is Good” speech from Wall Street

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13 Comments leave one →
  1. Cosmo the Fallacy permalink
    May 29, 2009 4:28 pm

    “I saw a on the AH for a 4,500 gold buyout. ”

    You saw a what?

    I’m dying to know!

    • May 29, 2009 4:32 pm

      Gah! The link broke!

      It’s a Jet’ze’s bell. A neat trinket for a caster. But I hope it’s for a caster other than mine. I’m itching to go home and see if it sold.

  2. Marrisol permalink
    May 29, 2009 4:35 pm

    When the Bell dropped in a group and Marri won it…she immediately equipped it. =) I didn’t realize it was worth *quite* that much, but I knew it was really pricey.

    It will sell. You just have to be patient. It’s truly not everyday that a raid-level healer who’s rolling in cash is going to want to buy a trinket for that much money. Maybe a few times a week, at most. You could also suck it up and be one of those annoying people who spam trade chat with their items to sell. (Personally, I really dislike that and always want to tell them to just go list it on the auction house. But I know that it does work.)

    Also, the three day weekend wreaked havok on the auction house. I haven’t been able to turn a profit all week. =/

  3. Rob permalink
    May 29, 2009 11:01 pm

    I think you bought the bottom… odds are the seller had to re-list at a lower and lower amount until someone happened by that thought they were getting a deal (Enter You).

    You may need to retrain auctioneer a bit to get your gold out of it – re-list it on a 24hr auction for 15,000 – 20,000G. Odds are it won’t sell – Fine, re-list it again same way. Auctioneer recognizes the number of times it sees something and the amount its listed for – not what it sells for right? So, when you re-list it a 3rd time for what you need to get out of it all those wise-acres out there will think they are getting one heck of a bargain!

    Otherwise odds are the market is gone, everyone who would pay top dollar to have one already has one. Good Luck!!

  4. Marrisol permalink
    May 29, 2009 11:26 pm

    @Rob –

    You’re mostly correct. However, Auctioneer does record the price something sells at. If you look at your tooltip data, you’ll see “Moving Price”, which is commonly under market price. Market price is the average, moving price is what Auctioneer has actually seen it sell for. It gets this by noting auctions that *should* be there due to their time left but aren’t (is my understanding).

    Also, the method you describe is a bit under-handed. =)

  5. Rob permalink
    May 30, 2009 5:48 am

    Marrisol – let’s be honest, that method is a Lot under-handed. Market manipulation is a cruddy thing, but it happens all the time – how much is Fel Blossom/Primal Might/Soul Cloth/etc really worth? What the market will bear, right – and yes I brought up nerfed mats on purpose.

    The game is ever-evolving which is the main thing that makes it so great and keeps people paying $15/month even in “the worse economic crises since the Great Depression.” Part of the flux is the market. For the most part, Demand controls price… but what controls demand? Big Daddy Blizz, right? New x-pac comes out with new level caps, areas and mats and almost the entire economy changes, even changing a drop rate with the latest patch can have a big effect.

    So, playing devil’s/forsaken’s advocate, I ask – is it wrong to influence the game in the extremely limited way possible? Is creating an artificial inflation in the manner described above any worse than those who buy out all of a common mat and re-list for double? Or using an epic flying mount to swoop down and mine that Saronite Ore vein a moment before some other poor schmo (who is trying to level their blacksmithing and really needs the ore) can get to it. And, if we feel that there should be some preserved purity to the game, is it hypocritical to use add-ons such as auctioneer, or add-ons period? What would happen to raid progression without all the spiffy UI mods – kinda like the WoW version of baseball’s PEDs? (sorry Ortiz, we know why you aren’t hitting homers anymore)

    Okay, I think I’ve rambled enough for one sleep deprived post. Good luck with that trinket Kim, can’t wait to hear what it finally moves for – though you could always put it in your Guild’s vault, right? Muahahaha

  6. Alden permalink
    June 1, 2009 2:40 pm

    @Rob-

    Nothing wrong with attempting market manipulation. If you think you can do it, and turn a profit, why not? You are making the original seller happy, he sold what he wanted to at a price he thought was fair. You’re happy for having a little extra gold in your pocket. And your new buyer is happy since he bought an item he was looking for at a price he thought was fair.

    That being said… I think Kim is paying the price for attempting to do this sort of thing. Its a gamble to try and buy and re-sell at a higher price. Sometimes you get stuck with something you can’t use, sometimes you make an insane profit early.

    I will pick up the hyacinth macaw at 10g and relist for 5k, but Im much more apprehensive to buy the 4k item that I think sells for 6k. HUGE difference in risk/ benefit analysis.

    Best of luck though. For your sake I hope it sells!

  7. June 2, 2009 7:42 am

    I’ve seen that on my Horde server about 4 months ago and was tempted to buy it for Holi but I didn’t.

    One of my guildmates controlled a large part of the enchanting mats market. He rarely had any competition. I do it, although not to the extent that he has done with a few of my professions. I don’t charge an insane amount of money for my mats but I noticed a market on both servers that many were overlooking so yes.. I have done very well.

    The Auction House is its own game, and I enjoy playing it. I created a toon on a new server about two months ago. She had nothing; it’s the second time I’ve done it. I wanted to see how quickly I could acquire gold. It’s been fairly easy even when Deim was a lowbie toon. 🙂

    Kim, wishing you the best on getting a return on your investment. It can be a gamble you win some of those hunches and at times you lose too. The losses of course can sting especially if you don’t have a lot of extra gold floating around.

  8. June 2, 2009 8:35 am

    /hug

    You won’t sell a Jet’ze Bell for 6800G after 3.2. See the list of Ulduar trinkets:
    http://www.wowhead.com/?items=4.-4&filter=cr=16;crs=4273;crv=0

    The only lucky person in this story is the one who sold the trinket for 4500. Be happy if you can sell it for the same.

    If I were you I’d list it for 3999. (granted I don’t know your server, if there are no decent guilds there who regularly do Ulduar, the price maybe higher but not much)

  9. Aloix permalink
    June 3, 2009 4:17 am

    /checks date of blog post

    Ok .. prices are server specific, yes. BUT one really needs to be aware of the bigger picture. As Gevlon points out, the trinkets currently are at Ulduar-level. Basically when 3.1 dropped, the price of Jet’ze dropped too, generally speaking. (Happens to be when I started watching for a good price to buy one for my own use actually). A goblin must know his/her market specifically and generally. And doubly so when ‘flipping’ purps.

  10. June 3, 2009 8:24 am

    To all: This is quickly becoming my favorite thread ever. And welcome, Gevlon! 🙂

    I have a long way to go in my goblin education. The Jet’ze’s bell’s an example of my needing to read the “news” before “investing” just like I’d try to do in real life.

    My main moneymaker has always been buying gems for cheap, cutting them and selling them.

    Thank you all for the great advice! 🙂

  11. Kinzlayer permalink
    June 4, 2009 8:44 pm

    …so did the bell sell?

    • June 5, 2009 9:32 am

      It did! I sold it for a 700 gold profit. Amazingly. With much relief on my part, too.

      My bad, as I should have updated this post that people were interested in it instead of putting the sale info on the next post.

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