Gold Capped. I wish - Update

So, in my first post on Gold Capped, I had said I was going to do updates periodically to show where I stand. Here is my first in these updates.

So, It has not been very successful to start. My purple lotus didn't sell. I have re-listed it a couple times at lower prices keeping in mind how much it cost me so I can at least get my money back. I will be doing another check tonight, but I'm not really positive that I am going to see it sold.

I am actually going to infuse my "goldcapping" character with some money I've made on an alt. I have been pretty consistently using Auctioneer to build my database of what sells and for how much on the server, though of late I have been less than perfect of doing it twice a day as I had originally planned. I am going to take a shot at a few things that I have been watching and well let people know how it goes over the next week or so. maybe I will be able to show I have turned my 1g 1s into some actual gold.

Gold Capped. I wish

The other night I was in a heroic with my friends Jinsao and Caralee. Cara and I were lamenting how poor we were. I think at the time I was sitting on about 7,000 gold while Cara was a bit below that. We both had gotten there through things that we had done Cara getting the Vial of Sands, and me in a failed attempt to make money at Leatherworking. Jin commented that he was also low, though he was significantly higher than Cara and I put together. He had been making gold selling the epic LW items that I had just gotten done blowing loads of gold trying to get to.

In general I have been frustrated with the small amount of gold that I typically am sitting on across my toons. In general at any given time I am somewhere in the 15,000 - 20,000 gold made through random quests, selling of junk to vendors and the like. I have always wanted to be one of those people who can say they are gold-capped. The problem being I have never really wanted to put the required effort to get there.

With my friend purchasing the game and becoming a full time member of the WoW community and finding a server to be home for us I have decided to put that effort into seeing if I can get myself to gold-capped. As such, I need something to keep me going on that track and not to peter out in boredom, or because it gets hard. I am going to report out my progress on occasion to remind myself that I am doing this and keep me moving forward.

To begin, I have begun using Auctioneer to scan the AH and begin to build a price data base on my new server. I will say it is a big server, and it seems to have a lot of movement on items. I will continue to scan for about a week before I begin trying to sell in earnest. In general I find that if I scan twice a day for about a week, I have enough data to use Auctioneer to begin flipping stuff that people are throwing up on the Auction House to get rid of, and turn it into profit on my own.

I did see what I consider to be my first purchase. I have noticed that herbs on the server seem to be pretty high priced in general compared to the server my old main was on. Noticing that trend I happened to look at one of my old standby’s to sell, Black Lotus. It happened that there was a couple of bits on the AH for 50g a stack, and then there was a single one selling for 54s. I also noticed a couple of bundles of just 2 for about 2-3 gold. On a lark I invested the 54s into buying the 1 piece to flip. Now understand 54 silver is more than half of all of the gold I have on that server right now. Prior to the purchase I had 1g 1s 1c. I have posted that 1 Black Lotus at 4g to see if it gets picked up by someone who needs an even five to mill for ink but doesn’t want to pay the 50g for a stack. When I get home I will check it and see if I have started my way to a flipping business, or do I still have more questing to do to make enough money to truly get into the business.