Here's the business report that I was planing to post on Tuesday.
It's that time again, resets, crashes, bugs, and reports. Today is the day where I, Stokpile the well dressed and lover of all things shiny provide you with some nice reading material while angrily awaiting blizz to get servers back up. As usual, numbers and bottom lines come first.
Income per banker
Gems, LW, misc: 44,000
Smithing and enchanting: 23,000
Glyphs: 3,500
Total weekly sales: 70,500
Weekly profit: Negative 700k or something
Total gold: 447,000
Yes that's a big ass number in the negative right there. I'm including my run through icc 25 as part of my weekly earnings or lack there of.
Detailed Recap
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Quickie update on the toc LW front first. I finally found the recipe for the leather melee DPS chest piece on AH. I got it for 1500g which isn't bad at all though that is my max price on such things usually. But out of sheer curiosity I would've paid a good deal more for it. Now I have every recipe from toc that I wanted and managed to craft a pair of every single one. That took at least 9000 crusader orbs to make, possibly even more.
So in a weeks worth of time the leather bracers have sold twice. The mail bracers twice as well, while the mail and leather chest pieces have not sold a single time. Meanwhile the plate tank/dps gear along with the non-spirit cloth gear has been selling too fast for me to keep in stock. Last time I tried to make some dps gear from LW it took ages to sell for a tiny profit. This time I managed to make about 2k profit with several new pieces left unsold. If I don't sell the chest pieces soon I'll be writing them off as a loss.
And yes those are some rather low numbers that you see up there. As such this will be a comparatively short business report, but still with lessons to be learned. Since I'm just about at my goal I've stopped taking the time to scan the AH regularly for more materials. I have stopped stokpiling. I've also mostly stopped working glyphs horde side again.
I have finished selling off my leather working products minus a few toc epics and armor kits. I have maybe 5 profession bags left to sell out of 20, no more plain leather or furs left in stock. Frozen orb based items are gone as well.
Eternal fire, life, and air are also completely used up. As is my stokpile of abyss crystals and dust and cosmics. I still have a good amount of old world materials, but no more goose scrolls for me. My bank tab dedicated to saronite bars and nothing else has dried up. In fact I've sold everything that wasn't epic or meta gems so far as I had an ass ton piled up for ruby sanctum. As is apparent from the sales numbers, the gem market is still thriving and will continue to do so for a bit of time.
What is it that you can learn from this? Me the warcraft millionaire pulling in so little sales when I can push as high as 60k -profit- in a single weeks time? My name. I am Stokpile. I stockpile. Last week was a good week for profits, and so was the one before it, so what happened? I stopped stokpiling materials and ran out leaving me with very little in the way of things to sell.
Take this as my final attempt to drill into your head how pivotal it is to stokpile as much as you can any time that you can. Especially if you're working in many different markets because the materials for one will cross over into several others. Example: I ran out of eternal fires so I ran out of crafted titansteel, no epic threads, no toc plate epics, no earthsiege meta gems, etc. I also used up my frozen orbs to turn them into crusaders so anything that used them is also out.
Take a lesson from this week's business report. The moment you stop to stokpile the materials that you need is the very moment your rate of sales will plummet.
Thanks for stopping by!
I need to do a better job of stockpiling everything at will instead of being hesitant on blowing the gold on investments. I don't hold back when it comes to jewelcrafting but other professions I tend to hold back. I think this really limits my revenue per week.
ReplyDeleteQuestion for you stockpile, for Jewelcrafting, how many of one type of epic gem will you post at a time? I don't want to create a flood in the market so I will normally post 2 to 3 of each gem when I am creating all my JC auctions. Then I just keep an eye on them through the day and post as necessary. Should I be posting more and letting demand take care of everything?
@ Nakedjay
ReplyDeleteWait for tomorrow's entry and your question shall be answered!
Believe it or not, I am learning this rule about stockpiling. Yes its true, I have a lot of stuff, but I have also learnt I don't have a lot of the right stuff and I am beginning to see how it hits me when I start running out.
ReplyDeleteOn another note, I remember a while ago (couple of years I reckon) I had an addon that would calculate the ammount of capital from stock owned. It would use prices from the AH to determine income if you sold it all. Not sure the name but I am interested in knowing how much I have been theoretically sitting on all this time. Anyone have any ideas what this addon is because I can't rememebr the name and can't find any sign on my system?
This post made me sad. Its like the end of an era.
ReplyDeleteMerl - The addon you're looking for is BigPicture.
Stockpiling is my biggest heartache right now because I am just a month into the AH game. I know the end of this xpac is coming soon so I don't want to hold crafted inventory/orbs/epic gems after a certain point.
ReplyDeleteI also have finally reached a gold level that I am comfortable being financially able to stockpile without it being a risky venture on my part. I know what you mean about not letting stopping accumulating, since it really sucks to not be able to craft stuff because there is no stock available on the AH or it would not be profitable to buy/craft it.
Its a hard lesson to learn when you are starting out with limited capital, but once you can do it, your profits can grow almost exponentially.
Yesterday I spent over 10k in stockpiling mats. 10k! I was almost to 45k total on horde side and knocked myself right back down to about 31k. The materials though should get me back well above that in very little time, however. I finally found a good deal on uncut epic gems so I just couldn't let them sit there waiting for my competition to buy them up!
ReplyDeleteYou all absolutely need to stop keeping track of how much gold you have in reserves. I used to keep track of how much I had until about a month ago because I used it to keep score. Why? For the reasons many have mentioned.
ReplyDeleteI would see how much I was spending and how the meter just kept going down and it was actually mentally preventing me from buying out all the stuff I needed to be stockpiling, hence thousands of untold opportunity lost. Since I dropped that mentality, I have no more problems. I just buy, buy, buy. I know when I buy something that I am buying at the appropriate price that will guarantee me a profit down the road (unless Cata is released tomorrow, I'm safe). I turn typically 30% at a dead bottom minimum on anything at my thresholds, and on many items I make 100%+. So I buy tens of thousands of gold in primos, orbs of all flavors, ores, gems, herbs, tailoring goods, leather, eternals, etc.
The only gold you should ever care about is the gold you need to pay repairs and post auctions. The gold beyond that which is sitting idle is dead gold which serves no purpose. You make money when you buy, not when you sell, so buy lots of stuff well.
Right now is the penultimate time in this expansion to be making extreme gold. Eventually the market will end when Cataclysm is released. You can sell off all the remaining junk laying around when that happens, just time it right.
@Anon
ReplyDeleteCheers. Downloaded and installed Big Picture but couldn't get it to work. Not sure if it is something I am doing wrong or if it is because it hasn't been updated in a while. Any ideas or suggestions for another addon?
Something has been playing on my mind over comments made more than once on this blog. I keep seeing people say that prices will drop when the new expension comes out. Are we talking about everything including trade goods. Mention had been made of when Wrath came out. You see, I remember when during TBC Netherweave cloth used to be around 3g a stack I think. If it dropped below that you could buy it, convert it to bandages and vend them. Now if the comments are right then the cloth prices would have maybe dropped further but now cloth is usually (at least for my server) 6-10g a stack. What I am leading to is that prices are going to drop when the expansion comes out. If the trend holds, then surely it would make sense to continue trading hard now, stop on release or shortly after (discounting opportunities that arise), and then watch as prices fall. Then start buying this and stockpiling for when prices rise again.
Am I talking rubbish or is there something to what I say? Maybe some here can advise?
I vote Merl is dead on.
ReplyDeleteHmmm, does this mean we may have to start dabbling in the futures market? Know whats going to rise up afterwards. And need huge warehouses to store everything we are purchasing cheap in the hope that one day the prices will be all that higher.
ReplyDeleteBut seriously, the people who are able to make the right predictions are going to make a killing. They'll be the ones who correctly choose which items are going to give the highest return, are able to buy them when they are at their lowest and then hold onto them for the right time.
I'm good at holding onto items. Its knowing which ones to get and when that will be the problem. Oh, and actually letting go of the items too.
Merl, I wouldn't hoard or stockpile old world mats that are easily farmable in the future. You can try, but that's just going to be wasted inventory and you'll be waiting around for quite some time to see prices get to a point that you feel is good for you. That and what if the prices of it fall drastically.
ReplyDelete