I've been Schooled

/equip [Feathered Pointy Hat Of The Noob]

I had a professor once tell me that the more you know the more you realize what you don't know. So the more you learn the stupider you get.

My goal is to become a Grade-A, First Class moron, and now I'm one step closer.

I've just caught up on the great podcasts being put together by Tyson over at mmo Auctioneer. So far he's got six podcasts in a series that shows how to get from zero to 1,000 gold without using any add-ons. It exemplifies how knowing a market can boost your ability to make good buying decisions and even better profits.

With his recent two podcasts he discusses the key of his strategy which is flipping recipes. There's been mention of it through his previous four podcasts, but now he's talking brass tacks. You'll learn which recipes to look for, how to get a price check and what to do if it's not moving.

You'll also be lifting your jaw off the ground when you hear the profits he's making.

For making monster profits, my experience is that Auctioneer becomes a little less important to the equation. After my bankroll grows large enough I start trading in Blues and Purples from the Weapon/Armor market. At that point knowing the market will find you killer deals that Auctioneer misses, and sell them for what their market really is as opposed to what Auctioneer thinks it is.

Personally I have learned a ton after listening to this series. I knew next to nothing about the demand for the recipe market before listening to his series. Now I'm feeling like a kid in a candy store and can't wait to give his strategies a test drive.

He also gives excellent advice on how to use the Trade channel to sell items that might not be moving in the AH. Listen carefully. Pay attention. Take notes. Do not vary. Memorize it.

The keys to negotiating are to get the other person to offer a price first, keep an even keel and use the AH to support your case. I don't talk about the Trade channel in this blog. Why? Because I don't use it. I don't get that much time online so I don't want to filter through whispers and run all over Azeroth to sell something. I'm interested in creating something formulaic and repeatable.

But, after listening to Tyson, if the profits are significant you bet your bottom copper that you won't be able to shut me up on Trade.

Take A Break From Og - Different Strategies

If I haven't made it clear before let me just say that there are many strategies at making gold in the World of Warcraft Auction House (AH). My ramblings are just what I know. While I am of small brain, I still know that I don't know everything. And it's good to get different perspectives so you can fit in the tips and tricks with your own style and preferences.

Plus you've got to be getting bored of me by now.

Here are a couple of recent links that I recommend checking out...

• Cameron discusses his strategy and guidelines for amassing wealth in WoW. Solid advice. Found this post because he linked to me. Flattery will get you everywhere, people. Especially when dealing with low-self-esteem folk like myself.
  
• Tyson is in day 3 of his run to 1,000 gold without using an add-on. This is awesome. I've done something similar, but it's good to see different strategies. Without an add-on! Sure, certain strategies for rolling in the big bags of gold rely on an add-on much less, or not at all once you understand the market. But building the kitty without an add-on? WooHoo!
  
  Warning: his podcasts are looooooooooonnnnnnnggg. But cut some slack. He's working to make it the best he can and gets major kudos for this endeavor.
  

Even with different strategies you will see some of the basics that are universal - like knowing your markets for most of your purchases. And taking risks to expand your markets.

Getting To 1,000 Gold In The Raw

Want to know how to hit 1,000 gold without using any add-ons at all?

I do too. So I'm going to keep an eye on Tyson's series that will do just that. Day one was published today.

Good stuff. He has a cheerleader.

/pump pom poms

Update: Actually meant to link you right to the podcast which is on his forums right here.

Auction House Gurus Share Their Secrets

The best way to improve any skill is to hang around with people who are much better at it than you are. You can grow skills on your own, but there's a cap. On your own you learn from your own mistakes instead of the mistakes of others.

Now, you're always going to make mistakes. If you're not then you're not trying hard enough. The goal is to make less mistakes by learning from those that have the experience.

OK, ok the goal is to make a boatload of gold. And that's where hanging with people who are Auction House (AH) smart will pay dividends - more money in your Imbued Netherweave Bag and less shrinkage of the self-esteem.

Now I know what you're thinking, "But Og, all I got is your crummy blog...where do I find these AH smart people?" I'm glad you asked!

Head over to the thread over at Norganna's AddOns forum that talks about gold making strategies. These are some of the smartest people I know when it comes to making big coin in the AH, and it's interesting to see how they each approach the AH a bit differently.

Some of the strategies include:

• Buy cheap greens (and higher), disenchant and sell the mats at a higher price than the items where priced for
  
• Buy cheap enchanting mats and flip
  
• Buy anything on the AH that is significantly below market value and flip
  
• Buy for prospecting (Jewel Crafting) and sell what get's prospected
  
• Focus on buying and flipping Epics
  
• Undercut on resale
  
• Charge a premium
  

...and mixes of all the above. In addition, it seems like everyone had different tools from the Auctioneer suite they liked, different configuration settings and different funding amounts (how much you keep on hand strictly for flipping on the AH).

While all these pros had a game plan that was slightly different than the others, they all had common threads that didn't changed no matter what their strategy was. These are the key "secrets" to being successful in the AH:

1. Discipline - All scanned the AH frequently and consistantly. Feed Auctioneer and it will throw up numbers you can count on. Wait, that didn't come out like I meant it.
   
2. Patience - The market for items, categories or as a whole can go in unexpected directions. Patience can mean the difference between selling for a loss or superior profits.
   
3. Market Knowledge - Understanding an item, profession or class market means picking out the right bargains, leaving duds behind and bringing home the Helboar Bacon at the end of the day.
   
4. Learn From Others - Most of these folks are raking in somewhere north of 1,000 gold per week, yet they still share information, ask for help and seek to understand other strategies.
   

This second list applies to you whether you are making thousands of gold or trying to crack 10g for the first time.

Put this one on your bookmarks.

Get Yer Butt Outta Bed!

Wadi inspired this post from two of hers that talk about the advantages of WoW in the early morning (here and here). It's like the saying goes, "The early Mage gets the 5 Primal Fire for 50g!"

The only difference is that she's talking about not getting ganked and I'm talking about the Auction House (AH). Though, before I knew what I was doing, I've been ganked (spanked, yanked...you name it!) in the AH before.

The nice thing about hitting the auction house in the morning is that you can usually find good bargains from the night before. At the end of the night people are leveling up their skills and trying to throw everything in the AH fast because it's 4AM and they have to get up for school, work, kids, etc. in 2 hours (not like I know this from personal experience or anything). When people rush, they often settle. Plus everyone just wants their stuff to sell.

Going on first thing in the morning (6am - 8am) I can make an additional 10g-40g just from that. You don't have to post the items if you don't have the time. Just buy them. You can't sell them if you don't have them. It takes about 10 minutes.

I recommend getting a scan of the AH in there as well - feed Auctioneer, or Auctioneer Advanced, and it will be very good to you. I know you Hunters out there get that analogy.

Tanking For Gold

You don't have to spend a lot of time in the Auction House (AH) to bring in extra coin. No matter what you like to do in WOW you can fit in some flip time. Ironhelm does it in about 10 minutes a day.

The main strategy for him is to stick with what you know. Not sure if that stack of Deviate Scale is a steal at 10 gold? Skip it and stick to things you're familiar with. Oh, and that deal on scale is so not a deal. Run from it like a squishy from a tank.

And the fact that he uses his skill to help fellow guildies is awesome. Bravo! I remember drooling over items in the AH. I used to have gear that was 10 levels old. I cried a lot back then. So I play Santa sometimes and it's very rewarding (and much appreciated).

Nice to pick up other peoples' experiences and styles of farming the AH. All