Gold Advice needed!

[Henwyneh]

HI!

First of i would like to say this is a great community I've been watching the forums for a while and i've got some great advise from them.
Well done to all!

My problem is i always seem to be running low on gold. I don't think i've ever have more than 5g at a time and most of that is spent on spells every other level :P

I was wondering does anyone else have this problem or is it just me? And do you have any advise on how i could make some gold quick? Currently i have tailoring and skinning as proffesions- Is there any money to be made with them?

Thanks a lot for reading and reply soon!

[Shadowscar]

yes skinning can make some good money skin everything!!! and ahouse it im not sure what level you are but if your 70 just do dailies if not quest rewards and ahouse everything that can be a housed

[RomaGoth]

Well, if this is your only toon then making/saving gold can be very difficult initially. With skinning, you should be making some decent money though, especially since you don't use the skins and can put them on the AH. Tailoring won't really make you much money but it shouldn't cost you much either since you gather the cloth as you kill things and level.

When you reach level 58-60, make sure you go to Outland and start doing the quests in Hellfire Peninsula, the money alone will be very noticeable for you. Also, try and not spend too much on the AH unless you really need something. You should be getting by on mostly quest rewards and tailored items for your character.

Hope this helps.

Roma

[Edwidget]

The best thing you can do to make money is just stay out of the AH unless you are selling leather.

The biggest trap people fall into money-wise while leveling for the first time is buying things from the AH way too often. Keep your tailoring caught up and your character will be plenty strong for leveling in the stuff you can make. The few points you can gain by constantly shopping in the AH are not going to make a huge difference.

Skinning is a great money making profession. Many people take it just for that reason. This is the one reason you should go to the Auction House. Just watch leather prices and how fast people's auctions sell to get an idea of what kind of leather is in highest demand and what you can get for it. Often undercutting prices will ensure fast sales, but in the long run you are generally better off trying to get "market value." A little patience adds up to a lot of gold over time.

[Henwyneh]

Thanks a lot for all your replies! I'll try them out

Keep 'em coming!

[fresnosmokey]

Apart from getting gathering tradeskills, do low level instance farming. At your level you should be able to do RFC, WC, SFK, and maybe BFD easily enough. As you level up add more difficult instances. Make sure you get some large bags and put whatever you can do without in the bank to make room to carry more stuff. Skin everything, especially in WC. Perfect Deviate Scales (drop and skinning) are a good money maker, but regular Deviate Scales vary. On my server they sell OK on ally side but on horde side they are chump change, so are droppable for bag space. You will almost definately have to dump all the greys to make room for greens, blues, and leather. Keep BoP's and vend them (unless you need room for AH items). Do 1 per day and soon you will have plenty of gold.

[vosfihalo]

I'm going to throw in an alternative.
I say drop skinning for herbs. Alchemy is the universal profession; everyone uses the potions made from herbs, whereas skinning benefits predominently leatherworkers, and others to a negligible degree. And leatherworkers are usually only the leather-wearing classes.
In addition, herbs will now be feeding inscription. And with us getting ever so closer to the new content, the herbs market is going to start to balloon, including entry level ones. They are probably starting to inch up now--I haven't checked lately, so I'm not sure.
IMO, the market for herbs will be more lucrative than skinning.

[Devicus]

One other thing, I found I didn't make any money to speak of until level 30 and on. 5g isn't much but it will rise over the next 10 levels. It just does.

[mavric240]

I agree with the above poster on dropping a profession and picking up herbalism. However I suggest you would be better off to drop tailoring for herbalism and keep skinning. Having two gathering professions will pay off all the way to 70. Once you hit 70 and can start doing daily quests, drop skinning and pick up tailoring again. Tailoring is easy to power level at 70.

[Whistle]

The following methods are not for all. They are not underhanded, illegal, or immoral. They are creative marketing and work quite well. I have had in my possession up to 10,000 gold pieces before.

Method 1-Cornering the Market
You can start with as little as 2 gold. There are a few rules to live by when "cornering" a market.

1.) Never corner on rarely used and/or extremely high priced merchandise.
2.) Never EVER use more than half of your total liquid wealth to "corner" because the market can change quickly and you might find yourself needing the capital to refinance another "corner" to "break you out" of a failed attempt.
3.) Always buy high traffic items that meet the following criteria:
a.) Relatively difficult to get.
b.) Are not able to be created from other easily obtainable items. (Ex.Don't try and corner the market on Super Healing Potions. Someone might buy Netherbloom and Terocone and just make more. Since they farmed the items they can make them cheap--corner the Netherbloom!)
c.) Have a regular demand.
4.) NEVER panic. If you can't afford to "ride" a purchase you shouldn't try and corner it.
5.) Do NOT be afraid to spend gold. It's only gold. You WILL make more!

How to maximize a cornering attempt:
This requires 3 characters for maximum affect. No one needs to know the 3 characters are associated.
Let us pretend for the sake of this exercise that you are going to sell 20 stacks of wool that you have purchased off the AH. Seperate the 20 stacks into 2 stacks, 14 stacks and 4 stacks.

Character 1: Posts 2 stacks at 140% of market value
Character 2: Posts 14 stacks at 110% of market value
Character 3: Posts 4 stacks at 90% of market value

You have created the perception the market is rising on wool. I like to corner for 2 to 4 days to drive the price up. Once I get it up, I thne go to my wool farming spot and farm 100 or soo stacks and sell them at 80% of the false value I created. The best part is that farmed wool is all profit.
To achieve the most effective market inflation hold back 20% of what you purchased and use a 4th character to release it slowly after the initial posting by the 3 characters.

Method 2-Double or Something

This one is for fast money when you don't want to wait out an auction period! Requirements are you must have a farmed item of demand. I use BoEs I get from SFK for instance. I will then buy several of something popular equaling the items total. Once again you need multiple characters for this but only 2!

Post (on an alternate character) your items that you bought from AH or farmed on AH for sell at 100% of market prices. Advertise (on your main character) the item for trade like this: WTT (blue item) for (items you posted) so it would be like this. Lets say I am cornering primal fires.

Trade/ WTT "Assassin's Blade" for "8 Primal Fire".

One of 3 things will happen.

1.) Someone will buy my primal fires and trade with me which means I get the profit from the purchase and I trade a specialty item for a more easily/quickly sellable item/items that I in turn resell AGAIN with no wait.
2.) Someone wil either offer straight gold or a different quality item that you can more readily sell.
3.) Nothing happens and you have primal fires on teh AH and they sell


You can't lose if you are patient and KNOW your local AH! : )

About the above statement. You CAN lose. You MUST be an experienced AH trader and be comfortable with what I have discussed or you WILL fail and lose all your gold.

Anyway, that's my disclaimer. Go try it and have fun!

Whis†le