Difficulty level: easy
Pre-requisite: good command of module 2 and/or active use of jewelcrafting
If becoming rich in WoW has become one of your obsessions and that you want to earn more and even more gold, here is a new approach.
It entails creating your own in game company.
It means that you are going to skillfully recruit other players who will, to some extent, work for you to get rich.
Yes, that’s right, capitalism is also present in WoW :).
What is this technique based upon?
It comes from the fact that many players are not making gold their priority. Their main interest lies in raids, or PvP, or the stuff they can get, etc. If they can offer their flasks, enhancements and repairs, they are perfectly happy and find pleasure in playing without thinking too much about gold.
It is actually the case for the most part of players.
If you don’t belong there and that gold is your way of finding pleasure within the game, you then are presented with a major opportunity: recruit these other players and buy their cooldowns and, more importantly, their stocks.
Let’s review this more in details.
- You master exchange rates.
- You know what to buy and how to buy at the lowest price.
- You work for a profession having a high demand for ingredients like jewelcrafting or inscription.
- You benefit from large resources in terms of cash flow.
Then you can set up profitable partnership with other players (from your guild or not) who enjoy farming or don’t use their CDs.
The problem for these players is to sell off their crop. They are usually not keen on using the AH and price fluctuations simply plague their life. Therefore, if you can guarantee you will buy them everything they farm at a fixed price, they will be delighted, you can trust me.
And you will also be since you will have obviously negotiated a rather low purchase price.
Your main negotiating leverages are to purchase in large quantities and this guaranteed purchase for a minimum quantity.
What is in for you?
Well, you can literally eliminate competition on a given segment and daunt the other vendors…
Let’s take the example of jewelcrafting which is, as you know it, one of the most competitive markets and which requires a great deal of ingredients.
Usually, the problem with this profession comes from resources. You often don’t have enough to meet demand and, because of this, you are leaving sales opportunities to your competition when prices for minerals are too high for you to buy them.
Except that, if you have 2 or 3 people constantly farming pyrite, elementium or obsidium for you, you have at your disposal a substantial and constant supply at a cost you control.
In this case, it is a certainty that your competition, who do not use the same method, stands very little chance of surviving. Since you have the advantage for quantities and for profit.
By greatly lowering your cost this way, you can compete more aggressively on the sale price. So that competition won’t be able to be a match and that you will establish market monopoly.
And the best part is that your supply channel can be very strong in terms of volume, therefore protecting you from your competition buying back your gems.
Actually, if this happens, the better you are off since you won’t stop reposting for sale and the person who is buying your gems to resell them for more will never be able to do so… and will end up giving up once he/she sees his/her stock grow.
How to find some people ready to farm for you?
The most efficient method is to spot on the AH the players who post big quantities of minerals and herbs. To add them as friends to find out when they are online and then start chatting with them and offering them a partnership.
Commit to a price and on weekly quantities they can then deliver by mail with COD.
Another method is to use the trade channel to post an ad like:
“Will massively buy elementium and pyrite ores at a fair price”.
If you are entrepreneur at heart, this method is really deadly and totally efficient.
However, there is a whole series of drawbacks you need to be aware of:
- This approach is really invasive, in the sense you can destabilize an economic segment on your server.
- One consequence is that you won’t be making just friends. It is not uncommon to receive some pretty insulting messages from the other vendors gone mad because of your prices.
- You can unwillingly give your support to farming bots. Because, how can you tell if the players working for you are farming for real or using bots?
- Last, your gaming time required to manage gold this way is colossal. You need to manage your relationship with farmers and, above all, deal with all the resources sent to you. No to mention market control which requires reposting more frequently and even management, sometimes by hand, of the prices.
This being said, it doesn’t have to come to this. It all depends on the quantities you will choose to buy. This approach also works beautifully with reasonable volumes which considerably limit the previously listed downsides.