Diary Entry: An experience in raising the price.

So on my path to making 10k gold i did a test that sought out to see if I could affect the price of netherweave bags systematicly. To do this i relied heavily on Auctioneer addons "Snatch Search filter" to purchase netherweave in bulk. I would purchase 700g of netherweave a day for about 3-11g each per stack the average is around 7g. This left very little options to my competition the AH only had stacks selling for 15g or more.

After doing this for a few days the market for bags fell in half because other bag makers couldnt get affordable netherweave. I droped bags down to only 20 AHs per day between just my competiton or one page. The price rose to 16g but it was an artificial high created by me buying the netherweave. When i began bagging i would post 30 every 4-8 hours under cutting by 10-50 silver each time. I did this for several days driving bags down to 9g being the lowest i sold for but that was only about 80 out of like 300 bags. A majority sold for 11-13g each. Probably around 1300g expense but i made 2860g out of the deal so 1500g profit.

Another way i managed to turn such a high profit was by keeping my auction times 12 hours . Which meant i got expired auction in a rotation if i posted 30 bags every 4 hours the next day i would have a few bags return in 4 hour intervals giving me more inventory to repost. This gradualy got smaller as the inventory sold i had less expired auctions. but this allowed me to have higher post rates keeping my auctions underneath my competition in cost and letting me make more sells. I would suggest any savy banker try messing with posting times to see if they get better results and higher returns with their gold.

Try it out to see if it works for you

Diary Entry: 40th post its a good day.

So last night I reached my short term goal of making 10k gold. This is a good mile stone and it is a hard hill to climb. It seemed like the closer I got to 10k the slower i made gold. I even had a few days with no auctions. The reason for this was RL is > than wow gold making. Also other projects and needs with wow. Sometimes its good to take a few days off from the AH and enjoy other aspects of wow.

So with that short term goal i need to decide what my next goal should be. Gold wise i believe the next stepping stone should be 25k. However I am not going to focus or work as hard as i did for 10k. I will work 30 minutes a day on it maybe more if its a crafting afk session.The other goal is to level my shaman and his JC/mining up so i can take advantage of D/E materials and cutting gems. Currently he is level 11 so i have a ways to go before reaching the cap. Another goal that i may or may not set after making some gold is to finish my BS up by buying materials. This could potentially offer me a more lucrative market to use to make gold than the bag market.

Ill have an update post in a few hours showing a picture with the gold and with a summary of how i made it all.

Diary Entry: The weekend rush

So this weekend i have not been posting much. For that i am sorry i have a report on my progress for the weekend. If you remember i was sitting at 3.7k gold Friday. Here is a picture of where i ended up just 5 minutes ago.

Im now sitting at 7k gold a mere 3k from my goal. That is around 1k gold a day give or take. It actually could be 900g more but a 500g loan to my cousin and a 400g investment in trying to flip an epic took that. I could make 300g-600g profit on the epic though.

I did this by selling netherweave bags which have dropped from 13g to around 8.30g I've sold a ton I had a bunch of bolts as you saw in a previous post. well now i have depleted my stockpile and i'm going to have to start purchasing netherweave cloth to stay in the bag market. I also sold enchanting scrolls crusader and fiery weapon were the top sellers i made a decent profit even though i purchased the mats. Another method i used was doing a daily transmute of the +30 stamina gems. I got lucky with this and created 5 at once got to love transmute spec. Also i leveled my warrior and found some cobolt ore and a few green BOEs. These were sent to my enchanter to DE and sell off the mats. Upon review though i probably could have enchanted some scrolls and sold the enchants for more.

So now you know what i've been up to for the last few days. Maybe it will allow you to create your own ideas on how to make gold. I plan to hit my target goal in just a few days time.

Diary entry:money mania i wish.

Im crafting bags and doing enchants also had a great proc on an epic gem. 5 gems from one transmute more updates tomorrow with pics and a gold total.

Diary Entry: Starting out

So i've started my quest towards making 10k gold. Here is the a picture of my guild bank tab starting out.

I have a few herbs which if i can find cheap frost lotus ill make some flask. Also as you can see im sitting at 3.75k gold which is a good start. I plan to make the netherweave into bags to sell and have my cousin cut the gems in this tab to sell. Also ill be using auctioneer to bid low sell normal. I hope to break 5k this weekend maybe even 6k if the bag market is hot. I hope to use netherweave bags as my main source of income so my gold will fluctuate as i buy netherweave to supply my bags. This morning i made 600 bolts of netherweave which cost me around 1k gold. I shouldn't need any more netherweave for a while however it may be worth my time to buy it up to keep my competition from having it. I hope this entry is informative into more of what im doing please comment with critiques or ideas on how i can improve my methods.

Diary Entry: Goals

So I've decided to setup a diary about the main method I'm using to make goals. As an after thought I also decided that i need to be motivated to pursue this. I needed to set some personal goals. The first goal i decided was that I wanted to break the 10k gold mark.

The reason I chose 10k was I hear its the hardest goal to attain. This is because most people have buy to have what i call the most needed 3. Which are Duo spec, Cold weather flying, and epic flight. While I do agree these are great to have they are not needed well except Cold Weather Flying. However, Most of my toons have Duo spec and only one is missing cold weather flying. As for the epic flight I have only one toon that needs this. I plan on using his goal of getting Flight form at a later date with only that characters professions as a series of diary entries. To get my entries started I'm going to have a post with my inventory and current gold amount. This will allow me to document the ups and downs of how my task is going better.