Friday, December 3, 2010

AH Panick Flip

After i posted my introduction (part 1) i thought i would also throw up a gold post, since thats what my blog will mainly consist of. After thinking a while and trying to filter out all the ideas i had that were original i remembered a small panick attack i had the other day over a few thousand gold.

I was playing around with my brand new laptop and scanning through the auction house for any deals that i thought would be good to buyout and re sell in cata, i ventured into the gem catagory and noticed 3 stacks of cardinal rubies with a buyout of 1500g and a bid of 125g and 2h remaining!! O.o in the excitement i quickly clicked on them and bid em all up. I reloaded the page and noticed that there were only 2 stacks left... my heart skipped a beat. i quickly /cast Ghost Wolf  (cause thats how i bark) and ran to the mailbox. Sure enough there was a stack of cardinal ruby in my mailbox that i bought for 1500g or 75g each (the price in the AH was 68g/e. so some quick math shows that if i reposted them and sold them all i would lose about 140g not counting the AH cut. I started breathing hard and drenched the mouse with sweat. I basically had a mini panick attack over 1500g. What if they didnt sell then dropped in price during cata? that was exactly what i was sweating about. Who wants to make a 1500g mistake, yea its a big deal.

When i stopped to think i opened my friends list ad luckily my beloved hunter friend, dorrva, was online... she had every single JC cut. i whisped her with /hugs and /kisses to cut the raws into all of the ones selling for more then 80g, i really wanted to calm myself by making a profit even if it was minor. i wasnt a guru in the JC market since i leveled my JC far too late in the expansion so i really had know idea how fierce the competition was. My plan was to get 3-4 of all the highest sellers and post only one so i wouldnt waste gold on the deposit fee if i were to get undercut. to my surprise every single one i posted sold in 5-10 min. I was camping the AH at the time (for comfort) so i quickly put one of all up again and once again they all sold.. i checked who had bought them and there were about 3 different people buying them all up. Apparently i was able to post more in the amount of time it took them to realize they needed a few more. The remainder that i had sold over the next night and day.

I made a 25g+ profit on every one of those gems and the best part was that it was an accident. The main lesson here for myself and for all you readers is that if you do screw up playing with your hard earned gold, dont panick and re-list trying to get some/most of your gold back... take the time to determine your options, if it happens to be a raw material, think of how it is used in other proffesionsand wether or not you are able to increase its value via those professions. Now i dont suggest that you go out and make a bunch of those "accidents" just to try and flip for a profit, especially this close to cata, but think of the gold i made by buying then making a plan... then think of the gold YOU will make if you make a plan first, then buy.

1 comment:

  1. When am I not online to cut gems for /hugs and /kisses for you. lol