Making Gold Off Guild Legendaries

There is a great opportunity to make gold right now off a future guild achievement! The guild achievement, We Are Legendary: Obtain all the legendary weapons, will have several guilds trying to obtain old legendaries. Plus guilds are starting now to try and obtain them because they will be counted into the achievement prior to Cataclysm.

Here is a Blizzard response on this subject, " We are making a exception for this guild achievement. Any legendary items you have already earned will count."

We can begin creating snatch lists or even farming for some of the items required for these legendaries. These are items needed for Hand of Ragnaros and Thunderfury, Blessed Blade of the Windseeker.

Fiery Core

Lava Core

Dark Iron Ore

Elementium Ore

Arcane Crystal

Essence of Fire

Thorium Ore

Blood of the Mountain

The cores may only sell for 20 to 50 gold now but I expect prices to surge above 100g after expansion. Elementium ore already sells for 350 to 500g each and may possibly jump to 900 to 1000 gold. There are several items though that you could make some nice gold off of. I've been using a snatch method to buy up cheap elementium ore in the past just because players have no idea what the real value is and they are scarce on the auction house.

Thanks for checking in!

Why Liquidate Now?

A few of the other gold blogs have been posting about getting rid of your stockpiles now since cataclysm is on the horizon. Some have even suggested restricting what you sell so you don't get stuck with items that don't sell or you end up taking a loss.

Don't Liquidate Now

I don't agree with most of these ideas. Why? You still have 2 1/2 months till Cataclysm comes out, I'm going to assume Thanksgiving week will be the release like they've done in the past. That is plenty of time to make a lot of sales and there will still be plenty of demand. I would even speculate that you could maintain a stock pile up till the final month then start to unload then. But here's the thing, what are you unloading? There should be several items in your stockpile that you should be maintaining for the launch of Cataclysm anyway, ore, cloth, inks, herbs, etc.. Sure, you will have to unload your epic gem stockpile if you're a jewelcrafter but you should have no problem unloading the remaining gems in the finale month before cataclysm launch.

Profits Still To Be Made

If you happened to have read the post on this subject over at Capped By Cata, he talks about how jewelcrafting with epic gems isn't worth it. His point is everyone already has all the epic gems and will no longer be needing to buy them so in turn, demand falls. I think this is a narrow minded assumption to think that there will no longer be players receiving new upgrades via raids. As of today trade chat on my realm is spammed all day with pug raids looking for members. There will still be plenty of players receiving upgrades all the way till cataclysm launches. I've had fellow players on my realm this week tell me they wanted to gear up on their dps sets so they could level faster.

Think about this, some players only have one good set of gear, whether it be healing, tanking, or dps gear. Depending on leveling style they may want fast queues and need a healing or tank set. Others may want the best dps set to grind through all the quests. What ever it may be they will be upgrading their sets and buying the best gems to put in them. Markets may have crashed but it's foolish to think that there will be no profits to be made. So let's look at some basic economics, demand falls for cut epic gems so as a result demand for uncut gems falls as well. Both prices fall accordingly but a profit margin remains between the two. This profit margin is what is key all the way till cataclysm. Whether it is 10 gold or 30 gold you will still make a good profit depending on the quantity that you sell. I can still sell 15 to 20 gems a night while I sleep at a margin of 20 to 50g each. So twenty gems at 20g is still a 400g profit just for an overnight posting, that doesn't even include working the auction house during the day.

So if you really want to be like a furniture store going out of business and sell everything then go for it. In my opinion I think that you end up limiting your gold making significantly if you do this right now. Plus there is several items that you should be stocking up for when Cataclysm launches.

Questions for Comments

Are you liquidating everything now? What time frame do you have in your mind before you unload unnecessary items?

Runecloth is still Profitable

Runecloth is still very profitable due to reputation turn ins and for leveling tailoring. Not only are players stockpiling runecloth now for cataclysm but there is plenty of players using it up right now. Currently on my realm a stack of runecloth sells for 10 to 15 gold.

There is two spots that I farm for runecloth, Undead Stratholme and Expedition Armory in Hellfire Peninsula, either spot will net you 300+ cloth per hour. I prefer farming Stratholme because I'm an enchanter and it will boost your gold per hour much higher. Check out my previous post on farming Stratholme as an Enchanter. Plus you can make a nice profit off trash and selling items that are worthless to D/E.

I've been splitting what I have been farming in half, as half goes into the my stockpile for cataclysm and the rest goes to the auction house for sale. This way I keep gold coming in and I can still build my stockpile, as we still have plenty of time till expansion lands.

Questions for Comments?

Where do you farm Runecloth? Have you begun stockpiling for Cataclysm?

Cataclysm Stockpile List

Here is a list of materials that I am stocking up for Cataclysm.

1. Inks

I've begun stocking up various lower level inks and ink of the sea for the upcoming expansion. Once Cataclysm hits you will no longer be able to trade Ink of the Seas for lower level inks, the new Cata Ink will be the new trade ink, so stockpile now on all of these lesser inks so you can stay ahead of your competition.

2. Runecloth

I am currently stockpiling Runecloth to feed all the hungry worgen/goblin players that will want to max out their reputation. I predict that there will be a serious demand increase upon expansion launch.

3. Netherweave Bags

I've got an entire bank full of netherweave bolts plus a guild bank tab filled too. Netherweave bags are ALWAYS in demand and the demand is going to go through the roof with all the new goblins and worgens running around.

4. Pets

It's a safe investment since pets are always in demand at a steady market price plus there is a possibility that some pets or pet vendors may be removed from the game. For example, the Azure Whelpling's status is still up in the air. With the massive changes to Ashara there is a good chance this pet could be removed from the game.

So stock up on old world pets and possibly take a chance farming some rare ones that might be removed.

5. Enchanting Scrolls for BoA enchants

I am stocking up on various scrolls for BoA enchants. There will be a big rise in demand for these enchants with all the alts being created.

6. Eternal Belt Buckles

I haven't heard of anyone yet talking about stocking up on these. Right now there hasn't been any new info on an updated version but I can't really think of what the updated version could do but add 2 sockets instead of 1? Either way there should still be a rise in demand for these buckles.

7. Cobalt/Saronite Ore

There will be some pretty good demand from players leveling blacksmithing, alchemy, or engineering that will need ore. Plus you can always prospect the ore and get uncommon gems to cut. There will be plenty of players willing to blow their gold on gems for every new piece of gear they get leveling to 85.

I've thought about considering stockpiling on various lower level ores, leathers, and herbs for leveling purposes. I can only assume that all of these new characters will be wanting to level new professions and buying up the materials to level these professions quickly. I think I will have to do some inventory management to figure out where to put anymore stuff at!

Questions for Comments

What are you stockpiling for Cataclysm? Anything in my list that you don't agree with?

Pack Rats

It amazes me how much people collect for the sake of just having stupid shit. No, No, it's great to show off your guild bank full of enchanting mats...that you will never use. I see all the time other players showing off their stockpiles but yet they don't have anywhere near the liquid gold they should for maintaining a stockpile of such size.

I guess there is some glory behind just having 9000 inks in your bank. I've seen on other websites players showing off screenshots of their massive stockpiles. Who gives a shit? Seriously. Talk about the mechanics behind gold making not your damn e-peen. Especially for those that claim to be serious at making gold.

The issue is that you end up buying more than what you would ever need to meet a certain demand and normally for some markets you would never even have the opportunity to buy that much in the first place due to scarcity in the market place, especially at the price threshold you are trying to meet. The other issue is that, depending on the amount of time that you have to unload these mats, is if too much time occurs after your initial purchase then markets could crash or slowly decrease in value which in turn devalues your entire assets. If this happens are you even making a profit? You might even be lucky to just break even.

Depending on the market you can have some really high demand periods where it just doesn't seem like you have enough materials ever to meet that demand. Which is great! You buy up as much as you possibly can to create a good stockpile to meet it. But guess what? It isn't going to last forever. There will be a downturn in the market. Think of this. You end up buying a massive stockpile of epic uncut gems, let's say you invest 40 to 60 grand in gems at 80 to 90 gold per gem. Everything is going great but you begin getting through half of that investment and then markets fall and now there is a chance you could be taking a loss on those same investments. This is just a strategy that I would like to put in the mind of everyone. There is too much advice out there that just pounds your brain saying buy as much as possible. I'm all about having large stockpiles but there should be a limit to this business decision.

After a while you should have a pretty good feel for your realm's economics but even having a grasp on that you can see some bizarre swings in markets.

Questions for Comments

How large of a stockpile do you maintain? Do you have a limit? Have you ever had a bad buying experience with market crash?