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WoW Economy Weekly Wrap-Up: Making Gold in 2018, Investment Fears & Spirit of Harmony Nerf
06.01.2018 в 10:08
WoW Economy Weekly Wrap-Up
Welcome to the twenty first edition of the WoW Economy Weekly Wrap-up!
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 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”.
I hope everyone had a wonderful Winterveil and a safe New Year with family and friends, after the holiday break we're returning to a regularly scheduled programming!
New Year, New Me! There are lots of resolutions being made and shared and some of them involve gold-making in some form or another. Whether you're finally ready to jump in and get started, looking to take things on to the next level or just purchase the cool mount you've always wanted in WoW there's an abundance of resources coming out to start your 2018 the right way - as a goblin!
First up, an
incredible kick-start guide to gold-making was posted by /u/Jallfo
This 21 page guide is full to the brim of information on getting started as a gold-maker, it's framed in such a way that someone who is brand new even to WoW can read along and understand.
covers four aspects of gold-making:
At a fundamental level, there are four possible ways to earn gold in Warcraft:
Looting gold from creatures
Receiving gold as a reward (from quests, order hall missions or achievements)
Trading to NPCS (AKA Vendoring)
Trading with other players
Yes, it really is that simple. In order to increase the amount of gold you have on your character you will have to do one of the four things listed above. As you probably realized, there are many ways to accomplish the four tasks listed in the previous section. For the purposes of this guide we will define a “method” as some combination of the four ways of earning gold. Popular methods include:
Method #1 Farming
Method #2 Crafting (Professions)
Method #3 Trading
Method #4 Providing Services
The guide then goes on to explain these methods in a fantastic way, but I'm going to pick out my favourite part to share in the post here this week,
The Goblin 10 Commandments
Thou shalt understand opportunity cost
: Don’t spend time doing things that are inefficient. Even if they save you money. Sure you might be able to save 100g by flying somewhere and getting a material from a mob, but how much could you have made doing something more efficient?
Thou shalt not invest more than you’re willing to lose
: Nothing can be more soul crushing than investing heavily into an item only to see that you made a bad investment. Start small and invest heavily later once you know your markets.
Thou shalt understand the meta
: Every goblin, EVERY GOBLIN knows that the biggest ways to make money come during patches and major changes to the game. Always read patch notes and wow news websites to stay up-to-date on what is coming. Which brings us to….
Thou shalt know the value of your items
: Pay attention to things like a weekly reset. Sure you might be able to make 5g per potion on a saturday but that might go up to 25g per potion on a Tuesday or Wednesday. Make smart decisions about when you buy and sell
Thou shalt diversify
: This is self explanatory - try not to put all of your eggs in one basket.
Thou shalt set REALISTIC goals
: Look, you’re not going to make 5 million gold on your first day. However, setting realistic goals will give you a sense of accomplishment and keep you in it for the long haul.
Thou shalt have a strategy
: Setting your goals is the first step in defining how you want to approach gold making. Do you want to completely own a corner of the market or have your hand in many pies? Always operate with a strategy in mind or you will lose focus and become incredibly inefficient.
Thou shalt not sit idle
: Too many of my guildmates sit in Dalaran and / or Orgrimmar simply doing nothing. With how many things there are to do in WOW these days there is just no reason to ever sit and do nothing. Even if all you are doing is sitting in a capital you could still be browsing the AH looking for deals.
Thou shalt treat others nicely
: You would not believe how many times someone has told me “LOL Get f***** noob” when I put in an offer for an item only to have them list it for less than my initial offer later. Guess what? I don’t buy from that guy. Treat others nicely and I promise you that it will work out in your favor in the long run.
Thou shalt enjoy the process
: Sure sometimes you might have to farm something that isn’t enjoyable, but that should not be the majority of your goblining experience. This is a game, have fun - don’t turn it into a job. If you’re not having fun anymore then just stop. It’s just not worth it.
These points touch upon everything I've been sharing over the last previous twenty editions of the weekly wrap-up. It's not a case of just being able to click a couple of buttons to generate a bunch of gold, it takes time and effort to understand the bigger picture. An important point in the guide overall is that /u/Jallfo did not include any numbers in terms of how much each method or process can make, that kind of thing sets unrealistic expectations to new starters. Especially when gold-making is so server dependent.
check out the full guide
, I'm sure any level of goblin will pick up some tips from it!
Secondly we have a great video from our friend
, she is well known for covering pet battle guides and WoW news. Her video covers her 10 favourite ways to make gold in the wind down of Legion, including Order Halls,
trading, Auction House flipping and Professions.
These points are generally more catered towards players that aren't necessarily interested in dedicated most of their playtime to making gold, but can definitely help supplement coffers with some gold to help with raid repairs and buying treats every now and then. At the same time, these methods are also great for those that are just starting on their gold-making journey and build up some initial capital to take things further.
has also put together a video with a similar framing, making gold as the expansion enters its final stages. Some interesting points on selling services which was touched upon in the guide from /u/Jallfo earlier - other players are looking to level up their alts which can be an opportunity to sell dungeon boosting with twinks, completing mythic+ dungeon at various levels can be an opportunity to boost with a group of players too.
There are always lots of different markets for gold-makers to participate in, the strength of each of them varies throughout different periods of an expansion. Since Legion as an expansion is approaching the latter stages, i.e final raid tier is out and there are no other major content patches planned, markets related to raiding and PvE content will start to wind down. Things like enchants, gems and consumables will see a drop-off in demand in the long term. At the same time, other markets will start to pick up. People will be done with raiding at some point in the not-too-distant future, they'll look to catch up with the rest of Legion content, playing alts, hunting achievements, pet battles or PvP/E for a change of scenery.
Being able to move around your efforts between professions or markets is an important skill as a goblin, understanding that it's no longer beneficial to be investing a lot of time in to certain materials when there isn't as much demand for the crafted items. You might not be able to sell as many enchants in a few months as you can now, so you probably don't need to tie up a lot of gold in Chaos Crystals as an example. A lot of new starters get stuck with a lot of stock that quickly loses a lot of value when a new expansion arrives, so be careful and aware of what you have on hand.
Have you set any goals related to making gold in WoW for 2018? Are you starting for the first time? What is going to be your first gold-making activity? What are you expanding in to if you're a long-term goblin?
There's a general theme this week on new starters and dipping a toe in to the gold-making community, as such I wanted to highlight a great question again from the subreddit
posed by /u/dynodanz on being afraid to 'pull the trigger' on making investments
So I’m a fairly new goblin, and I have around 1 million gold liquid with about 1.5 million in auction house value. I want to invest in reset gems on my server, but I’m scared afraid that I might lose money. How do you overcome that fear of investment. I know right now, that masterful Argulite is just under 2K. I’ve sold them with success as high as 3.5 K. I’ve done the math and it would cost right around 120 K to buy out every single cut gems and uncut gems, But I’m afraid to pull the trigger. Is it just me or do you guys have fears like that?
This is an interesting conundrum, sure 1 million liquid gold might sound like a lot but it's easy to 'lose' that by investing in the wrong thing or investing at the wrong time. So how do you overcome that fear of making a bad decision? The answer to that usually points to something outside of the game, it's a psychological problem. From a financial perspective,
it's all about managing risk as /u/Sandrockcstm explains
Ask yourself why you are afraid.
Maybe a part of you believes this is a bad investment. If so, logic your way through the problem. What are the potential pitfalls? What trends have you seen before in this market that may be making you reticent? Is this just a fear of the unknown or a nagging memory trying to tell you not to do this?
Try to put a percentage to it. What would you classify the rate of failure at? If you fail, will you lose everything you invest or just not make a profit? Write the numbers down. If you can't come up with a hard number, come up with a range.
What is the potential payoff? Write down the actual number based on your experiences. Weigh this against the potential cost and ask yourself if the potential loss is worth the potential payoff. See what your profit margin would be and determine whether or not that is an acceptable risk of loss for you.
At the end of the day you'll only be losing around 10% of your liquid income. That's not insignificant, but it's hardly catastrophic either. In the end it's your money and you have to decide what an acceptable risk is for you.
These kind of decisions are made every day in the real financial world, and people are paid lots of real money to make those decisions. It can be very intimidating making these decisions for yourself with consequences that will affect you and your enjoyment of the game, or bottom-line as a gold-maker. At the same time, making an incorrect or 'bad' decision isn't always the end of the world, especially in a game like WoW where it's not really possible to go bankrupt. You can farm up some gold and start again, learning from your previous investments.
/u/shiniira agrees with putting things in to perspective
I have had the same problem. You have to look at it this way: Unless you invest in a market that will change dramatically within the next few weeks, it is pretty safe.
Because you will not lose everything that you have spent, this would only happen in the odd case of your invested items will become completely worthless. In any other case, even if the price drops by 50%, you will still get at least 50% of your money back. Sure this is a loss, but you cannot go blank by this. So the really only issue that could arise is , that you no longer have the liquid money to invest in an even better deal, so keep some of your cash and nothing can go wrong.
Even if everything goes wrong, you can still just start over again. I mean we all started out with a few thousands of gold and made them into millions, we can do it again and again if strange things happen.
TheGoldQueen also had a great blog post on managing your gold regarding investing and managing risks
Dividing your gold in to pre-defined categories helps manage risk and rewards
TheGoldQueen splits out her gold in to different categories, minimizing risk of a loss and also ensuring continued growth.
30-90% for your piggy bank character, for savings:
Without putting some gold aside, it will get spent. Whether it is in excited investment, indulgent self-rewards, or simply on every day items that you think you need, but you could manage without. Set yourself a bank character, and send a regular, large percentage over to your piggy bank character to hold on to. Your savings, the amount of gold you hold in your piggy bank char will increase every time you log in.
10-50% working capital, investing in stock, or in yourself:
Investment is when you spend some gold, 100% sure that you will make a profit from this. An example of investment is buying leather to craft a leather item for sale. This is only an investment when you have either strong experience, or you have spent time researching, so that you can be certain it will sell. Another example is buying a high-demand mount for sale at 50% of its normal selling price. You are certain that it will sell soon, and for a profit.
0-10% gambling or learning capital:
Gambling is just like investment. It is when you spend some gold, but you are not sure whether it will make a profit. Put aside a certain small percentage of your gold spending for “learning”. For allowing yourself to make mistakes.
0-10% gold for toying with, or rewarding yourself:
Reward spending is when you have worked hard at gold making, you’ve made 100g, or 1,000g, or 100,000g today. Rewards are items are what you buy for yourself. You need to reward yourself in order to sustain high productivity. Rewarding yourself helps keep your motivation high and everyone deserves a reward.
As you can see, instead of investing all of your gold in one particular investment, or maybe more importantly, one particular
, you're only putting a small percentage of your capital at risk if the plan doesn't work out. Learning the scope of the risk is also important, then you can be more realistic in how much gold you're going to invest and/or gamble, TheGoldQueen continues:
There is a difference between investing and gambling. The difference is you know the gold you spend will be returned to you. Buying low cost Exotic Leather, to craft Misthide Bracers for vendoring at a profit, this is an investment.
Buying one expensive item on the
Black Market Auction House
, after researching
The Undermine Journal
and discovering it may well sell for triple your price. This is a learning investment. You are spending gold to discover something. You’re gambling that you won’t get the gold back, but you’re willing to take the risk in order to “buy” learning for yourself.
Buying 100 White Tickbird Hatchlings at whatevever-is-currently-cheapest, because you saw a Twitch Streamer level one to 25, and earn a thousand gold. This is neither a learning opportunity, nor an investment. It’s a pure gamble.
Have you ever had to overcome a fear of investing? What has been the most important mistake you've learnt from as a gold-maker? How much are you usually prepared to set aside for risky investments?
News broke earlier this week on a very subtle change to how
can be farmed.
Previously, you could enter the Mists of Pandaria Raid
Heart of Fear
and kill a particular group of trash while the difficulty was set to Normal. Without leaving the instance you could switch the difficulty to Heroic and force the trash to respawn and kill them again, then you'd switch back to Normal and repeat the process. This was possible every 60 seconds.
As of a few days ago, first reported on the
/r/woweconomy & TSM Discord server
, it's no longer possible to switch the difficulty while inside the instance. You would now have to leave the instance and reset it fully, which means you would only be able to do this a total of 10 times per hour due to the instance cap.
Reckles with WTBGold
put together an overview of what this means in the long term.
I'd personally expect to see anything related to
be affected in the future, there is simply no other way to acquire them as efficiently as the Heart of Fear farm which has now been nerfed. Keep an eye out on all the items that you can trade the spirits for at
Белая триллиевая руда
Черная триллиевая руда
Призрачная железная руда
Most of this information was discussed and originally posted on the
or in the accompanying
. You can also catch me
streaming live on Twitch
every Tuesday and Saturday from 5PM UK (12 Noon US Eastern) and Thursdays from 12 Noon UK (7AM US Eastern) or Fridays from 9PM UK (4PM US Eastern) answering gold making and TradeSkillMaster questions, or you can tweet your feedback/thoughts via Twitter at
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