moving prices up.

Currently I am purchasing netherweave cloth in large quantitys and crafting bolts. I am doing this begin expanding my pressence in the bag market. Recently I dropped out of the market due to undercutting bringing the profit margin down to 1-2g. I sold my stock then let the other players have free reign content with my daily transmute and bid low sell normal income. Recently though I have felt the urge to re enter the bag game and push bag prices higher.

I plan to purchase netherweave for the next few days with 10g being the max that i'll pay for a stack. Keeping the supply of cloth low will allow me to end the rampant undercutting. This happens because the other bag makers will not have access to more cloth to continue undercutting eventually their stock will run low and prices will rise. I estimate that if i can keep netherweave cloth supplies low that in 5-7 days bags will raise to around 15g-16g. At this point i will slowly introduce bags int othe market. while doing this ill continue to keep netherweave cloth supply low . Hopefully this will drive out some of the smaller competition and allow me to sell my bags for 4-8g profit.

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

Stalled.

Well it seems like my money making has stalled. This could be due to less play time recently. Also i seem to be spending more time money and effort on trying to gain control over the netherweave market. So I plan on liquidating the remainder of my netherweave stock. If I can sell the bags for more than 11g ill make profit.

I then am going to try and keep doing bid low sell normal and level my black smithing. I hope to catch it up to 375 by next weekend. Once i get it caught up I'm going to buy the mats to level to 450 since northrend bars are fairly cheap. After that i hope to possibly try the belt buckle market out. I also may look into whether I can find a good tailoring item to craft and d/e for profit.

I've learned a good bit from my netherwave experience. While i didn't accomplish my goal of getting competition out of it i did learn a method to push prices higher and have a stock of mats backed up. I also learned that while the money can be good sometimes the time investment isn't. I was spending more game time focusing on trying to control that market I'm sure i lost money in other markets. I plan to still partake in the bag market but I'm going to let the prices reset on netherweave cloth so i can get a better profit margins. Or at the very least stop paying 11g for stacks of cloth and only selling the bags for 13g 86s .

Netherweave Bags

I feel like sharing a progress report. I definitely have 2 competitors in my bag market currently. I have been purchasing and bolting netherweave for the last few days. I have been paying around 10-11g for a stack which is what i used to sell the bags for. This has helped keep the price of bags elevated one of my competitors had bags posted at 15g and another at 14g. I had half a tab full of bags made to sell on the AH at the beginning of the weekend. I sold 20 bags for around 13g 75s which undercut my competition by 25s.

Although they are selling i believe my netherweave stock pile is reaching critical mass. My bank tab is getting full and I'm going to have to unload some bags soon. The problem with this is if i don't moderate how many I post there is a risk of crashing the market. Ive also started just bolting the netherweave and storing it for a rainy day.

If i keep my buying up for the next few days i hope to see my competition fall out of the market from lack of cheap cloth and back up stores. Currently cheapest netherweave was around 15g a stack which means the bags will stay high. While their supplies will dwindle then i plan to step in to start selling. One reason i can sit on the mats to make bags and take a hit to the wallet constantly purchasing is because i also work other markets. This means that even if i just stockpile for a while i don't run the risk of going broke cause i have gold flowing in from other markets. BTW I almost hit 5k this weekend but spent a good portion on buying netherweave cloth and Saronite ore. I'm currently sitting at 4,300g not to bad for only 30 minutes of work a day.

The Netherweave gold mine.

Today i have a tip for the tailors of wow. There is a vast gold mine waiting to be tapped for any tailor willing to take the time to. What I'm talking about is turning Netherweave into Netherweave bags. Here is what i have been doing the last few days and its probably pulled in around 500g profit or more.

I purchase netherweave in stacks of 20 from anywhere from 5g - 9g. Each stack makes one bag so after making that i re post it for around 10g-14g. That's around 5g profit for just standing there producing bags. I recently bought all the netherweave on the market leaving only the over priced stacks. I'm doing this to try and push the other players out of the market currently there are 3 Netherweave bag makers I'm one of them.

By buying all the netherweave I'm keeping the competition from being able to produce their bags as cheaply as me allowing me to become the goblin of the market. Which if your a reader of gevlon you should know that it means while I'm not selling my bags as high as i could i am selling alot more than my competition for profit. The last two days Ive probably sold 150 bags while my competition has hardly sold any. Check your market and see how this works for you it could be a potential gold mine.