|The Fairly OddParents|
I first came into the real community of gold making last fall. Someone in a community I read had just reached the gold-cap and I wanted to be just like them. They did it entirely through glyphs back when they were booming in early Wrath and I set forth to do the same. I did the exact same thing. Glyphs glyphs glyphs 24/7. It's all I sold. I was on my toon every 20 minutes cancelling and reposting.
It worked! Shortly I'd gone from the "most gold I'd ever owned" at roughly 11k to 50k! I was a high roller now! But something was wrong. As time went on my competition became more fierce. I would have to friend half the server just to see when people logged off. I know they did the same, because as soon as I'd log off they would then log back on. It was a brutal market for razor-thin profits demanding countless hours of my play time. But it's all I knew and so I kept with it.
Eventually Glyphmas came. I made more than I'd made the entire time in those two or so days. I decided it would be my last hurrah in the glyph market and I stopped crafting glyphs. Though I'd learned about other markets I'd never really explored them. It was time.
I won't go into the entire evolution of the process, but every week I would try a different market. Some of them became boons to my gold making ventures and I stuck with; others were a complete loss. Today I have a pretty decent holding in the following markets:
- Cut Rare Cata Gems
- Uncut Rare Cata Gems
- Cata Jewelry (Alicite/Hessonite/Jasper/Nightstone)
- Uncut JC Daily Gems
- Tailoring PvP Sets
- Tailoring Dreamcloth Epics
- Blacksmithing Ornate/Bloodied PvP Sets
- Ebonsteel Belt Buckles
- Titansteel Bars
- Wrath Eternal Elements
- Inscription Relics
- Cataclysm Darkmoon Cards
- Engineering Pets (Cataclysm-centric)
- Cataclysm Enchanting Mats
- Cataclysm Enchanting Scrolls
- Heirloom Enchants (Crusader and Mighty Int specifically)
- Mongoose Scrolls
- Netherweave Bags
- Vendor Faction-specific recipes and pets
As you can see, it's expanded quite a bit from "glyphs." I'm making about four times what I was on glyphs; though I attribute that more to my increased investment ability as well as more experience in playing the AH.
But why is diversity important?
This is why diversity is important:
This is the post history of the main player in my server's glyph market. He has literally a thousand auctions up at any time and is online all day everyday undercutting anyone who steps into his territory. (For the record, I've reported him since this is pretty much impossible for any one person to do, but no luck yet.)
There's no way that someone who has a job, school, or even the human requirement of sleep could compete with this. If you had been a glyph seller only, as I once was, this guy just ran in and shut you down completely. There's no competing with this and you are now out in the cold with a bunch of stock you can't move and no where to turn to bolster your bank account.
If you only sell Bloodied Pyrium gear and suddenly Blizzard changes it so gear with resilience no longer effect average item level for the purposes of queuing for heroics your sales are going to plummet and you have no market to back up your tanked blacksmithing business.
Highly competitve and capable players can tank a market. Blizzard, through bugs, intentional changes, or buffed spawn rates, can tank a market. If you specialize too heavily in one area you are putting yourself at risk for great devastation.
We've all heard you should not put all your eggs in one basket because Ghostcrawler's going to kick you (because you're a paladin, as all the pros are) and you'll drop your basket and all your eggs are going to break, right?
The game can change in an instant; diversification is your protection against it. Know markets, consider markets your speciality if you would like, but don't dedicate all of your assets to one market and find yourself out in the cold after the next hotfix.
This post was written with Just My Two Copper's Blogging Carnival in mind, please be sure to check out JMTC and all the other great carnival topics!
Faidian Slip coming later today if Youtube permits. /pray to Youtube gods.