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.
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?
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!