Thursday again already? Awesome! That means another edition of Starting Capital here at Goldgrub’s. Today, I want to talk about making your first “flip” on the Auction House. I’m going to walk you through it step by step and before you know it you’ll have doubled your money. This plan is fool proof. I promise.
What is a flip?
A flip is a common term you hear tossed around in the gold making community. Essentially, a flip is taking an item that is low priced and selling it at a higher price. In this example. we’re going to be flipping Greater Celestial Essence. The great thing about “flipping” items is that a level one character can accomplish it. You don’t need any professions or a high level character. All you need is a little seed money. So for this example, I’m going to assume you have 100 gold in your pocket and you’re ready to step into the investment market.
Find Your Good:
Head over to the Auction House. You’re going to search for Greater Celestial Essence. You should find them from around 20-25 gold each. Your goal is to obtain five of these with your 100 gold. Don’t buy them all at once. You can do this over time if it’s easier and a better investment. You may even have some luck with trade chat. However you find them, keep your spending limit.
Making Your Move:
Now, we’re going to wait. We’re going to wait for patch 4.2. If you’re not sure what a patch is, no worries. It’s essentially a content change in the game. With new content comes new demand for product. In our example, Great Celestial Essence. At the release of patch 4.2, you’ll see the price of Great Celestial Essence rise. My estimate is that during the first week to two weeks of patch 4.2 Greater Celestial Essence will double in price. At this point, go ahead and post your five Great Celestial Essence that you purchased on the Auction House at the new price.
Profit!
Congratulations! You’ve doubled your money! We took an item and applied the principle of flipping combined with the principle of patch prediction to turn a 100 percent profit on our investment. You can ask for much more than that, can you?
Conclusion:
This is a small and perfect example of how to make some starter capital. Sure, it’s not going to happen over night. Yes, you can make more if you go farm something. But did you notice how it easy it was to double you money in this example? Isn’t that what you’re striving for? I think so. You can take these same principles as you grow your nest egg and can implement them to grow your wealth exponentially. I hope you learned something from this. Feel free to comment and let me know if you have any questions. I’ll be happy to help!
About Wes
Wes, Brace your head for a noob question:
Since it’s “all about the server” I assume that the 20 – 25 gold is irrelevant?
I mean
If GCE typically sell for 40g on my server, I should “reasonably” expect them to be 75g and up after patch 4.2??
Is that a fair assumption?
Wow… I buy GCE when it’s down to 65g on my server and sell it when it goes over 85g – which it often does only hours apart from each other… but 20-25g??? Haven’t seen that on our server yet…
I’m not complaining… not at all… I’ve made pretty good bank just playing the ‘sine wave’… buy low, sell high…
Npoleon, in principle, yes. In practice, it depends. Although many items needed for patch 4.2 will rise, how much they rise, how many you will be able to sell in a set period of time, and similar factors will also come into play. Does your server have a lot of jewelcrafters and enchanters? If so, more GCE will be entering the market. Does your server have many raiding guilds, or people pushing current content? Then there will be more demand for enchants.
Still, this is all about the principle of flipping an item, buying low, selling high.
so should I expect a similar approach to work for maelstrom crystals? they have been steadily dropping in value over the last cpl weeks going from ~450gp (when I started watching them) to currently ~170 on my server. if I invest in a handful of these I shuld expect to be able to flip them for ~290 ish?? or is there something happening with maelstroms that will make them drop?
im always tentative about investing in these types of mats because I don’t understand how they are used iin game (currently 5 months playing) so don’t understand how PTRs will effect their value. I’ve made my ~15k off flipping cloth/leathers cuz I have skinning and first aid
thanks,
fc
nother quck question,
I realize blizzard doesn’t release exact patch release dates but, when do the professors of profit predict the release will be? anyday? cpl weeks/months?
i don’t have a lot of gold and can’t afford to have it tied up in non liquid assests for too long (stock holders get upset when they don’t see the gp continually growing).
So I came across some gold from BOE epics in BoT and decided to stock up in Truegold. I know have almost 40 Truegold. It is now 4.2 and the prices of Truegold have dropped since before the patch. I don’t know if to dump the mats now for small loss or wait it out to see if I can make a gain.
@Tyindorin-Stormscale
I would definately say hang onto your truegold (and keep transmuting more daily). If you see truegold dropping in price, I’m not suprised. Many players stocked up on truegold because that is what the blogs told them to do. You don’t want to just stockpile blindly though. Why did you decided to stock up some truegold?
Because the new recipes both take truegold to purchase (the blacksmithing plans) and also are required in a lot of the new crafting recipes.
Why is the price dropping? Because people blindly stockpiled and now they are trying to sell the truegold off because Patch 4.2 is live. That’s poor planning! The reason we saved truegold was for the purchase and crafting of the new recipe craftables. Those won’t even be accessible for a minimum of 31 days after the patch and only for players that have done their dailies and collected enough living embers.
So TL;DR: Save your truegold for at least a month before selling. Once players actually opent he recipe vendors, then the price will jump up.
Cold recently posted..WoW Patch 4.2 Firelands Recipes Are BoE
Thankyou for answering my questions. It really helped with my condfusion on the Truegold prices. This will defiantly help me make a profit when people start needing the Truegold.
On another note what do you recommend to gather up for next weeks arena season?