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8. How did I make my first 10,000 gold?
I would say that his phase was all about improving the system and volume volume volume. I improved my aggressive under-cutting system till I was a shark. Hehe.
Developing My Friends.
First thing when I did when I logged in was press â€œO.â€ I checked which of the big JC chiefs were online. It gave me an idea of who probably already undercut me. But I was more conscious of those big JC chiefs who werenâ€™t online yet. Because once they come online that meant they would undercut me. So Iâ€™d have to balance my time between now and when they logged in. Before I would post 2 gems at a time per gem cut. But because the cycle (which I created) became so vicious and costly, I now started posting 1 gem per cut at a time. Then when a big JC would log online I made sure I waited 10 minutes for them to post their gems, then undercut them after. I had every big time JC on my friends list and they consisted 65% of my friends list. My alts donâ€™t have all the names of my friends I play with, but they have all the names of the big JC chiefs. I was obsessed with competing with them that I had them on all my watchlists. I hope theyâ€™re not reading this now. But if so, oh well, itâ€™s not like they didnâ€™t know. Hehe.
Developing the Pulse.
At first it seems unnatural but later you begin to be so close with the AH that it feels like you know itâ€™s pulse. You know when it breathes and when it coughs. I became very aware of the times of the day and the days of the week when demand was high and when demand was low. There were days when u bought ore where it was so much cheaper.
Developing My Lifeblood.
There were sellers you made bargains with and they become ur repeat suppliers. I had this one supplier that in the beginning, I used to buy about 6 stacks of ore from. (1 stack = 20 pcs of adamantite ore). The more time went by and the more money I had, the more ore I bought. On weekdays I may buy 20 stacks of ore per day. (Later this increased to about 60-100 stacks per weekday). On weekdays, Iâ€™d buy as much as 56 stacks of ore. At about 20gold per stack, thatâ€™d amount to about 1,120 gold. When my money increased, so did my purchases. I made sure to work, create and horde supplies when the weekend approaches. The demand is high then and I can put a premium price on my products because there are so many last minute buyers.
Some days, I bought about 150 stacks of ore from my suppliers, then even bought all the stacks available on the AH. Iâ€™ll explain that later. I hated buying â€œat valueâ€ from the AH. I always liked to buy from direct sellers because u can discount with them, they may be in a hurry to sell, or they need money now. And because I can buy in bulk and pay in cash, I get deals no one else could get. Cash was king and I had tons of it.
I felt that some of my suppliers were chinese farmers and wondered why they worked so hard farming when I made 300% more money from their raw materials, with half the running around labor. But I wasnâ€™t going to complain.
Iâ€™d have some occassional small time suppliers whoâ€™d mail me a couple of stacks of ore at a time at a pre-determined price. I just told them, keep sending me as much ore as u want and Iâ€™d buy them all. Theyâ€™re my friends and as much as I can buy and help friends, I did.
When I saw a repeat name at the AH selling their ore at a good low price, I would immediately contact them via in game mail. I would then contract with them to sell me all their ore from now on, for the same price they posted on the AH. In this way, I pay a good price. And I ask them not to post on the ah anymore because they lose the percentage from the AH cut and by selling to me directly they have more profit. I always pay on time so I always had ore coming. You must be good to your suppliers because they are your blessings. When your chinese farmers decide to take a day off and you have no huge ore reserve, you are in big trouble. Till your cluster of suppliers send you ore via mail. And then youâ€™re saved.
One of the ways to outlast the big JC chiefs was to stay on longer in the game. Yeah. Sucks for those that didnâ€™t have time or for those that had a busy life. At this time in my life, I had no life. Wow became my life and I maximized every minute of it by accumulating gold. So I stayed up till the wee hours in the morning. I made sure I was there when people got out of work or school, because of high demand activity. So I was firmly planted in Orgrimmar. I was a busy bee running between the AH and the mailbox. I would not leave my post for instancing, questing or the like. Then when things died down around 11pm, I would sometimes check out the AH for new toys or dresses I could buy. Maybe I would instance or just fly around. I didnâ€™t spend too much. I was happier seeing the gold in the bank. Then around midnight Iâ€™d be prospecting ore for the next day. Doing transmutes. Reading to learn more money making skills from elitistjerks. Wait for other big JC competitors to login so I can wait for them to post then undercut them. At one point our competition got so heavy that I decided not to sleep for 1 day and a half just to make sure I donâ€™t lose the lunch time sale. (this is the time I usually missed because I slept late and woke up late). And my JC competitor teased me thatâ€™s when they were able to sell, when I was asleep. So I stayed up all day from time to time. Yes, sometimes I also thought I was losing my mind too.
Iâ€™ve been a level 70 for awhile now and my gear has a lot of sockets for gems to put in them. I make the best gems in the game. At this point I believe I have every single JC design out ther available already. Yet when my guild member checked up on me one day, they were shocked. I had 10,000 gold and so much inventory and yet I was still wearing the garbage lower class gems on myself! I also didnâ€™t spend on high enchants. Whatâ€™s going on? Funny thing was, I felt proud that I knew how to spend wisely. But I didnâ€™t want to save for saving sake. I wanted to be smart about finances so that I can reach a point where I can burn money and it wouldnâ€™t matter. Because I did want to burn money. At this point, burning money now would still hurt me. Remember I still had a mount to buy? So my 10,000 would be reduced to 5,000. I held tight on myself at this time. At a later time I will share exactly how I burned shitloads of cash. =)
The Promised Epic.
Speaking of mount, I knew I made a promise to buy my mount at 10k gold. But I couldnâ€™t. I just couldnâ€™t get myself to go buy a mount that would reduce my fortune into half. Iâ€™ve worked too smart and hard for it. The thought hurt me. And what would I need an epic mount for me? I was never anywhere but in orgrimmar anyway. I didnâ€™t go out to farm. I employed farmers. Why would I need increased speed? I never do the dailies. My dailies consisted of scanning the prices in the AH. So I postponed my promise that I will really get the epic mount once I reach 15,000 gold.
Welcome to the big time, Chief.
At this point when I had every single recipe, I finally allowed myself to realize that, Hey Iâ€™m one of them big JC chiefs too now! And wait, is it possible that I might be one of the biggest if not the biggest? Because I noticed that none of the other JCs had EVERY single designâ€”but me.
Diversification #1: JC Designs.
If JC gems were my first pot of gold, JC designs were my 2nd pot of gold. My discovery of this didnâ€™t come from elitisjerks. Rather it came from time and experience.Being that I was in Org all the time, I heard every offer people were selling. And at this point I was seeing a number of JC designs being sold. I knew the price they went for like the back of my hand, as I paid dearly for most of them. I was a master at knowing their values. So whenever someone found a design and posted that they wanted to sell it.. Guess who was the first to make them an offer? Me. I would make a really low offer. Then gradually increas till whatâ€™s reasonable yet still a good discount. Most of the time people donâ€™t know their value. Most of the time people just want to sell fast. I just happen to have the resources to transfer to them. So I end up with a small number of designs. Theyâ€™re quite rare to come across.
The Birth of My Dearly Beloved.
This is when I got the idea to create an alt to sell it for me so I wonâ€™t offend the original seller (I loved this alt so much and it will be obvious why later). So Iâ€™d post the design I bought with an alt at a ridiculously jacked up price. And the shit would sell. It was like love at first sight. I was hooked! I scoured the AH for these designs which go for 600-1300 gold. And I would come across these designs for 100-200-400 gold from sellers on trade channel. And at extremely lucky days, some people would post JC designs at the AH, for 50 gold to even once I got one for 15 gold! I thought I was in love but then my luck ran out. No, I wasnâ€™t discovered by competitors. And no, they didnâ€™t do the same to me.
The Death of My Newfound Discovery.
What happened was I noticed up and coming JCs or even the big JC chiefs who didnâ€™t have some designs, buy the design I auctioned at an expensive priceâ€¦. And suddenly Iâ€™d have more competition on that cut of gem. Darn it. Because elimination of competition as much I can came first, I had to go for plan B. I knew I paid good money for these designs and now Iâ€™m stuck with them. Hording them because of my greed. And yet, I was chained to my own prison cell because when I found out that more designs were for sale.. I was possessed to buy themâ€¦ AT VALUE. I donâ€™t like buying at value. I only like to buy below value. Yet here I was, clicking the â€œbuy auctionâ€ tab on these JC designs that were costing me a good 600-800 gold. Yes I even bought a design that cost 1000 gold. Not so prudent for someone who wonâ€™t spend 60 gold jewelry on themselves huh? So what was I to do with these damn recipes?
The Birth of the Other.
â€œWithin every tragedy lies a blessing in disguise.â€ My challenge was that I didnâ€™t want competition on gems where I was selling them. So I canâ€™t sell my recipes on the AH. But what if I could sell it somewhere where I wouldnâ€™t have competition? Somewhere else. What if I sell them not on the Horde AH, but on the Alliance AH? Because I havenâ€™t been selling my gems there anyway. This was the beginning of my relations with the other side. This was when I decided to create a couple of alts to handle my newfound business in the Alliance Auctions. Little did I know what dealing with the Alliance AH had in store for me. But for now, I was a happy camper. My precious gold in buying those expensive recipes werenâ€™t wasted! Yes!