Jan 22nd 2012 11:54AM So you just found yourself in Firelands recently (because that's the popular raid right now), and decided to try your hand at disenchanting vendor epics because that's something we all do. Sure thing.
Also, since you "wrote" your macro, why did the commenters have to fix it? I would think for someone who wrote and used it personally first, you might have noticed that it didn't work. Unless you just copied it...then it might need fixing.
Like someone in your comments helpfully pointed out, they got this tip off our site a week in advance. It appears nowhere else. Most tips in the gold blogging community are discovered by ONE person, and then copied by the rest unless they are painfully obvious. Since you burnt through stacks of Maelstroms, clearly this was not obvious to you until recently.
Whenever we use or reference something from WoW Insider, we make sure to give them full credit and link back. Too bad the courtesy doesn't work both ways.
Jan 21st 2012 11:34AM Basil,
Hmm, If you're going to lift the bulk of your article from a commenter on our website a week after he posts it on ours, you could at least have the courtesy to give credit to that person and/or website who gave you the idea and even wrote the macro out for you to cut & paste.
Ryan (Co-host, Warcraft Lounge)
Jul 31st 2011 11:44AM Arc, you don't understand return vs. yield. Nobody would say: I yield 12k per day since yield is dictated in terms of percentage. It's how professionals view investments, to make them apples to apples. Return is a component of that, but if you have to sit on your investments for a long period of time, your yield suffers.
And don't preach #s to me, ice (badly I might add). I am far more familair with the rule of 72 than you are, and I was exemplifying any situation where you get less return in a shorter timeframe yields more. I could calculate the breakeven point of what a daily, or even weekly investment needs to exceed to beat a 3-month, 30% return investment but nobody on WoW Insider would appreciate, or understand it. I used a very general example to illustrate how less return generates more yield when flipped quickly. Also, a well diversified list of items, to go along with a high pop active server, means you should not run out of buying opportunities.
P.S. Why does the author's say he hosts the Call to Auction podcast, and they haven't had a new episode since March? You should edit your bio for accuracy since you haven't hosted that podcast for four months to the day.
Jul 30th 2011 10:30AM Please explain how YOUR limited playtime makes your advice any less wrong for anyone else not constrained by YOUR limitations? You're arguing with math now, and anyone who argues with math loses big because you still can't distinguish YIELD from RETURN.
Just because you have to tie your money up in in HIGH RETURN, LOW YIELDING investments, doesn't mean everyone else needs to make that mistake. There are still a ton of hard to acquire BOEs (Caster spirit shield, leather BOE shoulders, cloth boots) that drop off Firelands bosses, that having free capital to grab and flip for would be a better use of money, and I'm not referrring to the ones that drop off trash whose prices are steady/dropping. Making less off those, but in a shorter time span, is better than sitting on an item that sells for a higher margin, but takes longer to sell.
Better advice would be to develop a snatch list of high volume items that are used by crafters/players on a frequent basis, snap those up, and flip them quickly for less money. While total return is lower, since you turn them over faster, YIELD goes up. You continue to show no sign of acknowledging the difference between Yield and Return,
which is something an actual Finance major would know in a heartbeat.
Jul 29th 2011 9:17PM This article is incredibly off base, because you are ignoring the effects of TIME in your return calculation. Getting 30% in three months, is far inferior to getting 5% weekly. (To your point, buying from people barking in trade, and flipping on the AH is a good way to make money, the LONG SALE aspect of it is 100% wrong.)
You are asking people to tie up significant portions of your capital in low return investments (aka, the ICC vanity items) which could instead be applied to investments that RETURN less, but YIELD more, and all anyone should care about is yield.
Never confuse return for yield, and it appears you have done so.
For the non-math inclined, picture this. You buy a classic car today for 50,000, and in twenty years sell it for 100,000. You are doubling your money, but it took twenty years to do it. This is what the author of the article is recommending. Buying something with a BIG return, that takes a long time to flip. (Bear this in mind, now. Invested 50k, sold for 100k in 20 years...profit 50k)
Or each year, you could instead buy 50 items worth 1,000, and sell them all for 1,100. You're only making a modest 10% profit on the items, as opposed to doubling them, but if you do it consistently over the same 20 year timespan, your profits more than double. (100g profit x 50 = 5500/year x 20 years = 110,000 profit.
P.S. I am completely ignoring the compounding effect, because at the end of Week 1, you actually have 55,000. So next week, you'd be buying 55 items worth 1,000, to flip for 1,100. And the next week, so on. Meanwhile, your ICC vanity item collects dust. It is the difference between a stock that pays dividends, and one that does not. If I were to add compounding to the calculations, I blow the 'Long Sale' out of the water by an even bigger margin than I just did.
Jun 28th 2011 2:49PM I was thinking about that recently...about the demand in the next few days. It seems to me that those people who have been making belt buckles, enchants and leg armors are going to profit considerably more than the Truegold or volatile hoarders.
The reason being, the recipes are all gated behind reputations or boss drops. So on day one, nobody is going to be crafting the epic patterns until they start downing bosses, and earning them. The PvP gear, while nice, isn't essential for PvE and I suspect most people who care have enough honor banked to get 1-2 pieces when 4.2 goes live.
In fact, the most valuable things to hoard would have been, and should be, savage leather in all its forms, enchanting mats, and ore used to make JC materials. Why?
Because everyone will be buying tier legs with JPs, and the demand for leg armor will go through the roof, and for the same reason, gems will too. Plus, the new tanking leg armor means every tank on your server will need the leg armor in addition to VOLATILE EARTH!
Belt buckles will be nice, but I'm not sure there will be a wave of people upgrading their Waist item.
Once the first few people get the vendor unlocked, however many days it takes to do that, then volatiles should go crazy as people start getting crafted items made. I just think the best time to have sold your volatiles was to people in ANTICIPATION of 4.2, not immediately after.
And my calculations above are designed so people can calculate their own spread. I am on a high pop Alliance server, and a medium pop Horde server. In both cases, the spread is pretty considerable and has been. It might have dropped off for a month or two as we approcahed 4.2, but it's now completely crazy again.
On Gilneas-A, Volatile water is now the newest, highest cost volatile, and it was 40-something the other day while life was 7-9g. Absurd, but true.
Jun 28th 2011 12:42PM Transmute Living Elements will hands down, destroy Truegold as a transmute.
You take 15 Volatile Life, normally priced 5-6g, totalling 75-80g.
You convert it to 15, Volatile Air (xmuted in Uldum), normally priced around 20-25g, totalling 300-375g.
7 Days in a week = 1575g-2065g, profit, WEEKLY.
Transmute specialists get a couple extra volatiles, and they are random. Call it 20 extra for a week, per week, and let's say they average 15g...so put another 300g in there.
Meanwhile, the mats to make a Truegold, total around 625g, depending on your server. The actual Truegold, consistently sell for 50-75g beyond the cost of mats. That means 350g-525g profit, weekly.
Factor in a 15% proc rate, multiplied times the going rate for a Truegold, which we determine was 625g, and that proc is worth roughly 100g to a xmute specialist. 700g, therefore, weekly.
You don't need to be a math major, to realize that Transmute Living Elements is worth, to an xmute specialist, 1875-2375 weekly, while Truegold is worth 1050-1225g weekly.
Let's average out those prices to 2125g for Living elemetns, and 1138, for Truegold.
If you did those transmutes every day, realizing Cataclysm has been out for 6 months, for the last 26 weeks...
2125 x 26 = 55,250 net profit for Living Elements
1138 x 26 = 29,588 net profit for Truegold
Transmute Living Elements is clearly superior. How much more? 25,662g more. Plus, it's ONE button and one material. You don't have to spend your time assembling the Truegold mats (and you better have a BS who can smelt the pyrite for you cheap)
The best way to make money as a potion master, or an elixir master, is to drop your profession and become a Transmute master.
More information and analysis can be found on our website, www.warcraftlounge.com. My cohost is at a million gold, I'm at 300k and we talk wow economics in purely logical, financial terms all the time as we are both Finance majors who happen to play WoW.
(We are also featured on iTunes, the WoW Insider's podcast roundup, and soon to be on Stitcher radio. Just Google 'Warcraft Lounge' or type it in the iTunes search bar.)
Apr 25th 2011 8:08PM I am completely biased, but feel free to take a listen to our podcast,the Warcraft Lounge. Our podcast it more or less divided evenly between raiding news and patch analysis, along with gold making. (It depends on where we are in a patch's lifecycle.)
My cohost has been in a top 50 raiding guild, I am more of a pug raider, and as far as gold making is concerned, we have over 1 million gold between us and no, we do not farm nor have ever farmed any materials (Episode 11 we rip farming mats a new one).
We do share the actual things we buy and sell during our Economic Minute (although our primary competition in the Auction House listens to our podcast too! ) and in the end we take all the data that is tossed at you, and try to turn it into useful information you can use for your benefit.
For example, nobody wants to be read verbatim the loot list ofZul'Gurub or Zul'aman... but the loot list doesn't explicitly come outand say, "Hey, there are no trinkets that drop from here at all!" (other than the vanity one), so if you can pick manage to pick up a BoE trinket or Darkmoon Card on the cheap...do it! That sort of thing.
Anyway, our link is above (Warcraft Lounge); good luck finding a podcast you are comfortable with, and if not, you can always listen to Adam Carolla's podcast. He's friggin' hilarious.
Mar 22nd 2011 9:50AM Sky,
Most hosts are friends (it's hard to talk to someone you hate for hours) but on our podcast we stay focused on 3 key things:Making money in game, raiding both casual and advanced, and how to navigate the changes upcoming to the game.
We're both Finance graduates from Penn State; there are a huge number of advanced economic concepts we can convert to gaming, because at it's core, Wow's Auction House is a miniature economic simulator. Something must be working, because we have over 1 million gold to our names and every tip and trick we do in the AH, we share with the listeners.
Chris was previsouly in a top 50 raiding guild, and is used to being on the cutting edge of raiding which makes me the casual one, I suppose. I show people who are casual how to get the most out oftheir playtime, how to find rare and unusual pets and items, and basically how to play the game effectively on your own schedule.
We also keep people up to date on patch notes, and how they will affect you BEFORE they happen so you don't get caught napping. We help people know what to buy and what to ditch long in advance of the date, taking advantage of being the first to market with your new niche or idea.
We don't read patch notes verbatim, we don't talk RP, we don't discuss lore (much, other to tell you that's what Wowwiki is for), and we certainly don't do the segment I call "Pointless Wish Fulfullment" which is where two podcast hosts spend 30 minutes or more discussing ideas they wish Blizzard would do, but never will. We're much more realisitic than that.
Anyway, we get whispers ingame from listeners telling us how much gold they have made (sometimes in direct competition of us, which we are fine with), how our analysis has helped them, and how they laughed at such-and such a segment. We're both humbled and impressed by the activity of our listeners.
I have spent a lot of time listening to the competition, and what we do isn't out there. If there was, I would just listen to it. If you know sports, we're basically the Mike and Mike of Warcraft. (My cohost is the big Mike, I'm the small Mike.)
You can see our reviews on iTunes. We're always near the bottom in the podcast listings thanks to our podcast starting with W, but once people find us they do stick around.
Co-Host, Warcraft Lounge.
P.S. According to iTunes, most of our listeners also subscribe to the Instance.
iTunes Store: Warcraft Lounge
Mar 15th 2011 1:39PM Anne,
This is an excellent feature and it drives listeners, however, is there a way for you to randomize or scatter the names above from week to week? You list them in the exact same alphabetical order week after week, and I am willing to bet the ones at the bottom of the list get way less clicks than the ones at the top.
I just stayed at a Bed & Breakfast last week, and the reason I ended up at a wonderfully charming place called 'Walnut Hill' is that the site which lists them all, scrambles up the order every month.
Otherwise, we might have to consider renaming our podcast Another Addictive Azerothian Podcast, which is both cheating and lame. :)
Thanks for the consideration,
Ryan (Cohost - Warcraft Lounge)