Gold update

A month or so ago I started playing on Kitha again, playing WoW in of itself again. Having Enchanting and Tailoring, I was doing Netherweave Bags before I left....which the first week back I admit I was dissapointed to see it cost more to make the bags then to sell them. Which of course seems to have been a fluke week?

I do read a few blogs on the economics of WoW and I would have to thank them both for great insight.

So I set out about a month ago to get started in my first niche, bag selling. Auctionhouse Antic (http://ahantics.blogspot.com/), helped show me a great option to a tool I use, and that is the snatch option in Auctioneer. So now I can snatch and buy bulk loads of materials compared to my one at a time that is provided in game.

After about a month I am now sitting on about 3.5k gold. Just buying netherweave cloth and bolts of netehrweave and selling Netherweave Bags. of oucrse about a week I now have some compition which thankfully they seem to have never read Greedy Goblin (http://greedygoblin.blogspot.com/). He has great articles on undercutting, competion and getting the market control. I will admit I have not followed his advice, having to learn the hardway. For example, this morning I logged on and my competition had bags up for roughly 11gold (maybe 11.50gold). Well the price I have been making is around 7gold to 8gold. So of course I undercut him by 10% or 15%, and put mine for about 10gold. Which of course got me undercut by others and I learned my first lesson, which of course I already knew. I do not need to over extend my greed. Greedy Goblin makes money in the glyph industry by selling lower but more, and here I tried to "maximize" profit but ended up somewhat hanging myself. the reason I say somewhat, is I only had 20 bags or so out of 50 up for that price. I then proceded to put the rest up for my regular price of 7gold and 50silver when I relogged and saw my own bags were undercut. I am thankful this guy has not read or taken o heart the advice of Greedy Goblin, for the fact all week if I do not post he will then repost his bags or start his bag posting at 11-12gold...which I then log on later it seems and undercut him.