Basic Gold Making Knowledge
1,000 gold per hour!
Make Gold off the Trade Channel!
The trade channel is probably the least tapped resource in the World of Warcraft when it comes to making gold from it. People that sell things often want to make quick gold and don't want to be bothered putting things on the Auction House or don't want to pay the Auction House cut, which means you can bargain with them and make more gold! Find out how in this article.
Looking for Deals
I always preach about knowing the market price, this is a must when it comes to finding deals on the trade channel since you won't be scanning the auction house for other similar items. However, what you could do is look at the Auction House as watch the trade channel or bargain with the buyer/seller. This way you will know exactly what to pay or sell the item for.
No Auction House in Shattrath or Dalaran!
You know what that means, players in either city won't know what the current going price for an item is! Obviously with the release of the Wrath of the Lich King, not too many people will be in Shattrath but talking to people in Dalaran will be a gold mine!
There have been countless times when I have been able to buy Dragon's Eyes and Frozen Orbs for really cheap because there are people on the Trade Channel all the time selling them for ridiculous prices, and remember you can always bargain with them too to make it cheaper! Be reasonable though, you really don't want to rip people off, you could be talking to a potential customer. Even if you don't need the items to craft something, you could just resell on the Auction House at a higher price, just remember to factor in the Auction House Cut.
Read my Dragon's Eye article to learn more about making money with Dragon's Eyes.
Ready my Profit Margin article to learn more about making consistent profits.
Bargaining takes some practice, you don't want to go too low or too high (depending on which side of the trade you are on) but you want to make sure that you can entice the buyer to make the deal a little sweeter for yourself.
You can tell that you will go visit them so make it a little cheaper. Or you could say that they will be saving money from the Auction House cut and won't have to wait to get the gold in the mail, it'll be instant if you do a trade with them. Have a price in mind when you're buying or selling something and make sure you go a little lower or higher, respectively, so that you can get an even better deal just in case they accept, and often times they do. It's surprising how many people don't want to bother bargaining.
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