WoW Economy Weekly Wrap-Up: Newbie Gold Guide & Penny Pinching plus giveaway!
WoW Economy Weekly Wrap-Up
Welcome to the 76th edition of the WoW Economy Weekly Wrap-up! In this edition we're looking at a newbie gold-making guide, penny pinching and the monthly giveaway!
If you're new to this series or want to re-visit past posts, you can
check out the previous articles right here on wowhead.com
My name is
and I’m the lead moderator for the
and the accompanying
. I am also the Support/Community Manager & User Evangelist for
, the Auction House addon suite for World of Warcraft. I stream on Twitch for
and my focus is on mentoring and tutoring the WoW community in all things gold-making. I hope to cover and showcase some of the interesting topics, discussions, content and guides that have been going on over the last week in the gold making community. Some that you might have missed as a veteran gold maker, or you might be interested in checking out for the first time as a new or aspiring ‘goblin’.
The format will not be that of a traditional guide, but links to further reading with commentary and opinions of my own. I will be looking at the bigger picture, the decision making and thought processes in being a gold maker – rather than a step by step instructional list. As the saying goes, “give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime”.
Newbie Gold-Making Guide
Newly tagged 'Trusted Goblin' /u/Jallfo is back with a revamp of the 'newbie goblin guide'
that was shared as a Christmas gift at the tail end of 2017.
Now that the economy has settled a bit for BFA, I decided that it was finally time to update the newbie guide that I wrote about a year ago in
. I realize this might seem "late" to some of you, but trying to write a guide during the first couple of months of a new expansion is simply a fools errand.
Here are some highlights of the major changes that were made to update the guide for 2019:
Updated all professions to reflect what their target items are for BFA and what you should be focusing on
Included some notes about expulsom and how it is fundamental for BFA crafting
Added sections on follower items and warfront contributions
Updated the "services" section to better reflect the state of carries in BFA
Detailed description of 2x4 / hyper farming
here is the link to the guide
. Hope you all enjoy it! Let me know of any obvious errors and I'll get them fixed ASAP.
I'm not going to grab the whole thing but I thought it'd be good to pick a couple of highlights to discuss and show you what to expect in the guide. Starting off again with the Goblin Commandments!
Thou shalt understand opportunity cost
: Don’t spend time doing things that are inefficient. Even if they save you money. Sure you might be able to save 100g by flying somewhere and getting a material from a mob, but how much could you have made doing something more efficient?
This is often why veteran gold-makers will not spend any time crafting tailoring bags or doing world quests for gold rewards. Don't get me wrong this is obviously a fantastic entry-level method of generating some initial gold but you'll get to a point where it's not worth the time based on the strategies you've developed or adopted.
Thou shalt not invest more than you’re willing to lose
: Nothing can be more soul crushing than investing heavily into an item only to see that you made a bad investment. Start small and invest heavily later once you know your markets.
This is a mistake that a lot of new gold-makers will make. There is some kind of myth that I'm not sure the origin of that 'outsiders' assume there's this one best thing to make gold and as soon as they learn the first way of making gold they assume that's the best and invest everything they have, hoping to strike it rich. First of all, there's definitely no such thing as the 'one best way' to make gold - if there was then everyone would be doing it and then it would no longer be the best way to make gold, as evidenced in the later diversity commandment. Secondly, whatever amount of gold you might be starting with - even if it is literally a character newly designated to making gold - don't spend all of it. Spend a quarter, or half of it. Leave enough to allow you to continue posting items, or repair your gear in the middle of a raid.
Thou shalt understand the meta
: Every goblin, EVERY GOBLIN knows that the biggest ways to make money come during patches and major changes to the game. Always read patch notes and wow news websites to stay up-to-date on what is coming.
There's not much further to add to this, I'll play my own trumpet here and suggest keeping up to date with this blog will give you the overview you need. I try and cover anything that's relevant to gold-making, however I'd also recommend getting different perspectives from the likes of Studen, WTBGold, Breg, Lon Measly and Hikons, amongst many others. Reading the
lurking in the Discord server
will give you much more context to things as others discuss what's going on at any given time.
Thou shalt know the value of your items
: Pay attention to things like a weekly reset. Sure you might be able to make 5g per potion on a Saturday but that might go up to 25g per potion on a Tuesday or Wednesday. Make smart decisions about when you buy and sell
We discussed this a bit last week, with the 'race to zero' mentality. Keep hold of your items for a few days if you look at the Auction House and thing 'oh that's a bit cheap'. You don't have to sell things immediately, you can always increase profit margins by selling at the right time and not just the right price. Even better you could also buy up those cheaper items and sell them in combination with whatever you already have. That's an opportunity you have identified and that's the ultimate goal in gold-making.
Thou shalt diversify
: This is self explanatory - try not to put all of your eggs in one basket.
Diversification is key, you don't wan to rely on one item or one particular part of a market for all of your gold. If something changes such as a hotfix or patch and the demand for the item you're heavily stocked up on disappears, you're going to be left high and dry with no hope of offloading everything. Spreading your energy across multiple markets not only increases revenue but will protect you from dropping to no revenue if something happens in your one market.
Thou shalt set REALISTIC goals
: Look, you’re not going to make 5 million gold on your first day. However, setting realistic goals will give you a sense of accomplishment and keep you in it for the long haul.
This can burn a lot of new gold-makers too. Setting a target of reaching gold-cap, or 1 copper less than 10 million gold, is all fine and dandy but after many weeks and possibly months of not being any where closer to progress towards it as you learn from you mistakes is very discouraging. Making a profit at the end of every day is a great starting goal. There are no numbers involved in that, it's a very easy tick for an objective and it will encourage you to do it again the following day, perhaps progressing on to making 10,000g profit in a week or a WoW Token in a month. Building up your goals to mirror your abilities and strategies makes much more sense and makes them much more achievable.
Thou shalt have a strategy
: Setting your goals is the first step in defining how you want to approach gold making. Do you want to completely own a corner of the market or have your hand in many pies? Always operate with a strategy in mind or you will lose focus and become incredibly inefficient.
A recent example of this for me was transitiioning away from crafting professions after identifying I could not compete in those markets. Now my overarching strategy focuses on flipping items on the Auction House, There are microlevel strategies too there, including what I flip and how I flip it.
Thou shalt not sit idle
: Too many of my guildmates sit in Dalaran and / or Orgrimmar simply doing nothing. With how many things there are to do in WOW these days there is just no reason to ever sit and do nothing. Even if all you are doing is sitting in a capital you could still be browsing the AH looking for deals.
I think this is also a big burden for new gold-makers as they sit and wait for opportunities to come to them. They might have identified a strategy or market on their server and will invest all their gold or time in that one thing, assuming that making the profit or succeeding in this one thing will automatically present or open other opportunities to make more gold. Once you've started, it's certainly not cruise control to gold-cap, it still required a bit of effort to improve, adapt and increase sales at the end of the day.
Thou shalt treat others nicely
: You would not believe how many times someone has told me “LOL Get f****d noob” when I put in an offer for an item only to have them list it for less than my initial offer later. Guess what? I don’t buy from that guy. Treat others nicely and I promise you that it will work out in your favor in the long run.
This is one of the best things about the gold-making community overall, even though it's somewhat counter-intuitive since we're all generally competing against one another. However, I find goblins and gold-makers to be the nicest group of WoW players, everyone is so welcoming, friendly and supportive. We all root for each other when we make some nice sales and encourage those that are perhaps stuck in a rut, or need some advice on what to do in a certain situation. It 100% pays to be nice and you never know what kind of deals or opportunities might arise if you're friendly to your competition.
Thou shalt enjoy the process
: Sure sometimes you might have to farm something that isn’t enjoyable, but that should not be the majority of your goblining experience. This is a game, have fun - don’t turn it into a job. If you’re not having fun anymore then just stop. It’s just not worth it.
It took me a long time to learn this one actually. Sure you might miss a few sales, but the Auction House will still be there if you don't visit for a while and your items will still be in your mailbox if you don't even log in for a while (up to 30 days!). Sometimes it's good to take a break from gold-making, spend your time doing something else in-game, or maybe even not playing the game to enjoy your time elsewhere. More often than not you'll come back refreshed and motivated to do something you might have been putting off or simply continue where you left.
full guide of course is very much recommended
goes in to detail on individual professions, farming strategies, selling a service and much more. Do check it out, and share it with a friend that might be struggling to make enough gold for their WoW token each month.
What are some gold-making or goblin rules that you play by? Which commandment resonates with you the most?
Another great discussion on reddit this week prompted by /u/Bigdiq's aversion to spending gold
Apart from restocking, which I will do with reckless abandon I'm having a hard time letting my gold go, I certainly want to buy long boi, but I also want my 5 mil liquid.
When I think ablut buying the long boi, I then immediately talk myself out of, thinking of the spider boi, frog boi, and all the other bois. Then I think about buying bnet bux for the shop bois, but buying shop mounts will encourage dev practises I don't agree with. Then I realise I don't really need any bois, then I think, why am I even making gold?
I don't raid and don't care for buying the latest BoEs, I hate the idea of paying for boosts with a passion. The only thing I would really like to buy is bnet balance to get 2nd and 3rd BFA accounts, but that feels OTT, and will likely lead to me burning out (I burnt out after getting a 2nd account during legion).
I find it difficult to spend gold in some situations. For example I have no issue spending several million gold on cheap materials to either craft with or flip for a profit. But I wouldn't spend very much on general transmog for example. Personally I like to try and stick around the 10 million gold level, it's just a comfy number for me and of course I could invest all of it but it doesn't feel good to do so.
/u/Noexit007 has a similar number and has become a lot more charitable
The best cure is to find a "comfort" point and then spend anything above that how you wish.
So for example... if you have 3 million, tell yourself you wont ever drop below 1.5 mil and be willing to spend anything above that. You can scale this up or down as needed based upon your gold levels and wishes. The point is that it means in your head you have a safety net, but you can also focus on both making more gold, and spending above that level, knowing that you have a hard line drawn in the sand in your safety net.
With the Long Boi its a bit of a unique case since the mount itself will help you make more gold with a portable AH (although likely less these days than at the start of the Xpac). When I bought my Boi, I waited until I hit 6 mil so I could immediately use my 1 mil cushion to help make gold back after spending 5 mil on the mount. just 1 more note, i have found myself more and more as time has gone on, giving gold away. Not to any person mind you, but funding guild needs, buying pots for others, if I leave a guild I have always given a chunk to their GB as a thank you for time spent there (if it was enjoyable). And occasionally to some lowbie who is just having a blast and you can tell its some individual for whom 100g is like 1 million gold to me.
When I purchased the
it was definitely more of a prestige thing. Sure it might allow me to save a few seconds getting between the mailbox and the Auction House but it's not a 'must have' for gold-making by any means. It sure does look cool though!
/u/GeneticsGuy has also developed a spending philosophy
I am like this. I will spend for investment spending, but I am often hesitant to drop for other things. In my mind, I cannot spend more gold than breaks gold cap. So, I remember when I wanted to Long-neck mount for 5 million. Well, when I had 12 million gold, I still couldn't buy it yet because I felt like I was negative 3 million+ in the hole. If I bought the mount, then it would have dropped me to 7 million gold and I would have felt poor again. So, I technically had to get myself to > 15 million gold before I felt comfortable about buying it.
So, the only thing I spend gold on now is permanent stuff, like pets and mounts, maybe some xmogs (though very rarely). I always pay for the 100% mount drops off the end-raid bosses, but not until deep into the expansion when the price has collapsed. For example, I got the Mythic Gul'dan mount for 750k, but that was because there was only 1 month left in the expansion, many guilds had that on farm, and most people were focusing on Antorus. When the raid first came out the mount was selling for 5 million gold. I can be patient for the price to come down.
I just HATE wasting and I hate spending if I don't have to. Right there with you.
/u/AzKovacs suggests simply making more gold
These troublesome thoughts can only be cured by more gold. Think of it, so pure, so shiny.. more. Always more gold, new markets new throats to cut and more gold to gain. And with all that gold oh boi even more gold will come to make even more gold and with that more gold more gold I want GOLD GOLD GOLD.. Always more never question the God.
You could also take the philosophy of StudenAlbatroz who has been purchasing an
every Friday for close to three years, each one is recorded so you can see how many Tier 3 cloth pieces he gets on a Druid or Pandaria recipes worth 100g, or when he's lucky he gets all the rare mounts in the game for a very good price! I'd be curious how much he has spent since starting this project and whether he has anything left to get, you can see his most recent video here:
What do you like to spend your gold on? What's the most expensive thing you've ever bought? Have you ever gambled with an unclaimed container on the Black Market?
It's the end of February and the last wrap-up of the month so as always it's time for a giveaway! Thanks for participating in all of the giveaways thus far and good luck this month!
For this month's giveaway, we have 90 days of WoW Game Time up for grabs! Open to both EU and NA.
leave a comment below (minimum 1-2 sentences) responding to any of the
from this week's post.
1 x 90 days of WoW Game Time for EU or NA
Now until Friday, March 2nd 2019 at 11:59 PM Pacific.
Winners will have up to 14 days to reply to the email received to claim their prize or it will be forfeited. We're not responsible for any email issues you may encounter. A winner list will be posted here . If you're a winner and don't receive the email, please email , within 14 days of the giveaway end date. A valid entry is defined as a submission containing thoughtful and logical answers to posed questions (e.g. "it's cool", "ihgty", etc. isn't valid).
See legal disclaimers
. Questions/Comments? Contact .
Most of this information was discussed and originally posted on the
or in the accompanying
. You can also catch me
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every Tuesday & Thursday answering gold making and TradeSkillMaster questions plus Saturdays from 7PM UK (2PM US Eastern) for the WoW Economy Weekly Wrap-up live on Wowhead.com, or you can tweet your feedback/thoughts via Twitter at
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