WoW Economy Weekly Wrap-Up:
WoW Economy Weekly Wrap-Up
Welcome to the 99th edition of the WoW Economy Weekly Wrap-up! In this edition we're taking a look at an addon to help you pick your gathering farm, plus a discussion on managing your Auctions!
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 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”.
This week saw the release of a wonderful community tool made by Dala. The premise is simple, helping to answer the age-old question of "which farm is worth it?". It's almost impossible to answer that without additional context and data from the server the budding gold-maker is playing on, but what if you had that data?
This is where the Worth IT addon comes in
WorthIt is an Addon
that determines the value of a Gold Farm before you start the gold farm. With its simple to use UI you are able to choose from either Skinning, Herbalism and Mining. Once pressed it will go through averages of each farm and create a list within your chat window providing you with estimates based upon the value of your servers market so you will be able to see roughly what you will make per hour on that specific gold farm. The reason for developing this addon was to help other gold farmers to not waste time and also have the ability to check a farms gold per hour value before they start said farm. I am looking into build more into this addon in the future.
Using a combination of TradeSkillMaster pricing data and a wealth of gathering data from some very industrious goblins, the
Worth IT addon
gives an approximation on the outcome of a farm in gold for your server by calculating the value of the items you'd get on average per hour. It takes out a lot of the trial and error in finding a niche on your server, skipping over the time spent on the Auction House researching items you might not even be aware of as a new gold-maker. The simple UI allows you to select a profession and it prints your farm values in your chat window.
Dala explains a bit more in detail in this video about the addon
It's such a good idea, I'm surprised nobody has implemented something like this with GatherMate data.
The call is out now from Dala to help 'gather' gathering data for Classic to make it useful in both versions of the game
Since the other day, I released my addon "WorthIt" for retail and it was quite well received. The question found quite a lot was if i was going to make the addon for Classic? Well, I have moved the addon over to Classic but I need the new data for a selection of the farms.
So what I am asking is if anyone would like to help me obtain this data for the addon, below i will share the list for the data i need. If you do want to help please 1 hour of a farm on the list in classic and post your results either
or in my
the list is also in worthit-classic-results chat.
How much time have you spent researching farming routes to figure out if they're worth it on your server? If you check out the addon, what are the top potential farms for you?
Managing your Auctions
Getting to grips with Auction House play can take some time, understanding how to position yourself both in terms of price and stack size (maybe less so in the future with the upcoming AH revamp) is just as important as knowing what to post in the first place.
With addons like TradeSkillMaster or Auctionator, it allows you to cancel you auctions very efficiently to repost them. Perhaps during your realm prime time, or to undercut your competition that just posted their auctions after you. But how often are you supposed to do this? When does it reach diminishing returns?
/u/KerroA poses the question on reddit earlier this week
Hello dear goblins, I just wanted to ask you how many cancel scans and reposting should be done? How you manage with the undercuttings during the day? Wonder your answers :)
My priority was always pretty-stacking auctions, mostly to ensure I didn't have to be concerned about being undercut. This was particularly useful while raiding since I wasn't able to manage my auctions at the time, although a second account would definitely come in handy in that scenario.
/u/Mdarkx comments on their strategy
I mostly used cancel scans when selling flasks. On peak hours Wednesday, on one of the highest populated server, I would do a post scan, wait 2-3 mins and do a cancel scan. From 17-20 I would do nothing besides this. I could easily move a few hundred flasks, if not more. Without cancel scans, I wouldn't have sold as many because I would have gotten undercut the moment my flasks were posted.
Cancel scans hugely depends on the item being sold, how popular the server is, deposit costs etc. It's just something you have to figure out yourself. Find out what works best, for which materials, in which hours, on your server.
This strategy may become even more important with the 8.3 Auction House changes, if Blizzard keep the Last-In-First-Out system. You'll be rewarded most for being the last person to post your auctions so the often you post, maybe without even cancelling first, the more frequently you'll make a sale. I can imagine it turning in to a drip-feed strategy, where you might craft 200 flasks but only post a couple at a time to ensure maximum exposure at the lowest buyout. If you have the time to commit to this kind of Auction House babysitting you might annoy your competitors, but be richer for it.
/u/SooperSombra on the other hand isn't a fan of aggressive cancel scans
I really can't be bothered with constant cancel scanning. I do a few things to keep my prices fresh-ish though. It works satisfactorily enough for me. I have a tiny inventory of transmog (300 items) but I sell 1-3 per day and I'm doing pretty well on mats sales. I usually list materials auctions for 12 hours whenever I know I'll be on WoW 12 hours later. Typically, this means that I log in during my morning coffee, post mats, then check for cheap flips & repost my mats when I come home again 'round 7pm.
For transmog, I have a separate list in TSM where I will post my bigger ticket items on a 12 hour rotation too (things I'm trying to sell for 10k+). I cancel scan randomly on weekends for transmog because I'm on more often and so are my buyers. I am on a low-med pop server, so ymmv.
Another way you might take advantage of the new 8.3 system is to think like /u/SooperSombra and post your auctions for a longer duration at a higher price. It might not be the cheapest auction at the time of posting, but if you're not even going to be in-game to manage your auctions you can account for longer term price swings in the markets you're participating in. You might post your flasks or materials at a price you know that you sold them for during the weekly reset last week, perhaps a good 20% higher than the lowest buyout. Over the course of the next few hours people stock up or attempt to reset the market in preparation for the raid reset and your items would still sell. Naturally you'd make fewer sales in this scenario, but the sales you do make will have higher margins and much less time commitment to managing your Auctions. After all, time is money friend!
How often do you cancel your auctions? Have you thought about how your posting strategy will change in patch 8.3?
Most of this information was discussed and originally posted on the
or in the accompanying
, or you can tweet your feedback/thoughts via Twitter at
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