Hey everybody! I hope you're having a blast with Cataclysm, and making a ton of gold at the same time!
Personally, I'm up to around 30k income from farming, but I've invested so much into buying under-priced goods, that my actual gold on hand is flat since release. Not to mention that I leveled Engineering and Alchemy on these crazy prices.
As we get into the first weekend after release, more and more people are beginning to hit 85, and focusing on crafting. The demand for almost every material is strong, and prices are staying in a wonderfully high range.
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Part 2 - When to Start Crafting
Last weekend I asked you guys for questions you wanted me to answer about Gold making in Catalcysm. Here's one such question from Mitrian:
"I think the gathering professions will be the biggest money maker right off, however, looking at the long term, how much advantage will there be for the early adopters of crafting professions? In other words, I know I can make a ton of money selling ore and herbs in the first few weeks. But at what point should I switch from selling my materials, to using them to power level up my own crafting professions and setting up the “money making machine” of crafting?
My plan was to race to 525 herbalism (and mining) and use just enough herbs to get my scribe to 460 for the Adventurer’s Journal, both to sell, and to use to level my main to 85. Once I have done that, all my herbs (and ore) will hit the AH… but until when? Eventually I’m going to want to level my crafting professions to be able to cover more markets."
There are actually two different approaches to this answer, so I'll cover them both =)
Opportunity Cost
A common mistake people make when dealing with farmed materials, is the idea of "If I farmed the mats, it doesn't cost me anything". This is faulty logic, and here's why:
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Happy Gold Making!
Ryan
Cataclysm Transmutes 101
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Ryan