Wednesday, August 11, 2010

The Key's To Getting Rich

1. Maximizing Professions
The more professions you have, then the more opportunities you have to make gold. You need to protect yourself by diversifying your investments. If one market tanks it doesn't matter! Because you are making tons of gold in other markets.

2. Vendor Dos & Don'ts
I surprised my self a long time ago at how much I was just vendoring. "Oh! I got all these greens from this 5 man, I'll sell these all for gold!" Yeah, that was me. Then I wised up. I started selling some of those greens on the auction house for bigger profits, disenchanting them for materials, and selling various meats I had gathered in my journeys. By doing so you are maximizing your profits by making much more than just selling them to vendor.

3. Stock Piling
This is a big part of any gold making business. You can never have enough materials to craft goods. You always want to be cranking out items to sell because if you run out then you have just slowed your gold making progress. By having a limited supply to work with you have just created scarcity in your business and will seriously take a hit at your gold per hour. Even if you think you have plenty of supply, buy more if it meets your price threshold.

4. Flipping Items on the Auction House
By using an addon like Auctioneer you can do scans on the auction house for items that are selling well below market value. There is plenty of players that post items for much less than what they should be selling for. Whether it's a trade good or it's a BoE epic, you can always find deals on the auction house. Buy up these cheap deals and repost them for big profits!

5. Competition
Learn to deal with your competition. You will need to develop strategies to limit your competition's supply and make friends with farmers so you can obtain your supplies for much less than your competitors. It allows you to win undercutting wars much easier since you will have a larger profit margin to work with. This goes in hand with building a stock pile as well.

6. Addons
Although they are not must have to make gold they can streamline your entire gold making business. It's all about working smarter not harder. Addons like Auctioneer, Auctionator, Quick Auctions 3, Postal Mail Mod, Skillet, & LiL'Sparky's Workshop can help make your life much easier when it comes to managing your business.

Which gold making step do you think is the most important?

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