Last night, I had some guys from work over, as well as my brother and brother-in-law to watch UFC 126. It was a fantastic card, that was well worth the $54 bucks I plopped down to see it. After it was all said and done, I thought to myself, man, I wonder how I can write about it in my blog, and connect it to Gold Making. So here it is; my observations from UFC 126.
Observation 1: If you have a good product, people are willing to pay outrageous prices for it. As I said before, I plunked $54 bucks down to rent the fight. I was willing to spend an extra $10 just to get it in HD (I have a high definition TV, I better watch fights in HD). This means three things in WoW.
1) If your product is good/great then you can charge an inordinate amount of gold for it and people will still buy it. This is where flipping epics can become so profitable.
2) People will pay more for an enhanced product. Once again, flipping epics is where it is at. When I flip them, I make sure to fully gem and enchant the gear before posting it on the AH. That way, when someone else undercuts me, people will look at the two items and take the pimped out one.
3) If you get people hooked on something, you can gradually raise the price of that item without much fuss. The UFC fights used to be $40, then $44, now I'm paying $54. Next year it might be up to or over $60. And you know what, I''LL KEEP BUYING THEM. I use this same strategy on Mysterious Fortune Cards (MFC). (Stay tuned for tomorrow's full post on my MFC strategies). When I first got into the MFC game, they sold for around 12g on my server, if at all. After some hard work and barking, I consistently sell them for 30+ gold. It's key, get em hooked cheap, and raise prices over time.
Observation 2: From the John Jones vs. Ryan Bader fight. Size/muscle sometimes is everything. Jones (a local boy for me) was absolutely huge, and dwarfed the already large for 205 Bader. It was amazing to see Jones manhandle Bader for the first round and a half, until he finally submitted him. In WoW, size has the same effect. Only it is the size of your gold that matters. When I invest, I invest heavily. I want to have the size in my bank to be able to buy out all the materials I need for investment, and be able to control the market I'm in. If I'm making 20g off a manuever I use, I want to have enough gold to make 200 of those manuevers, not 2. Weild your gold powerfully and wisely, and make it work for you.
Observation 3: The Anderson Silva, Vetor Belfort fight was highly anticipated. At one point early on, Silva tried his usual, dance around the ring, and almost got caught. That's when he switched it up, and finished Belfort with a jaw dropping front kick to the face, an unheard of idea. Silva was willing to change it up and try something new, and by doing so was able to win in spectacular manner. The same should be said for us Goblins. When our "usual" routine isn't working, examine the market and see where a "change of gears" will make us profit. I did this recently when I made a switch from the Shuffle to Inscription for gold making.
Hope you enjoyed the post, and enjoy the Superbowl.
Cheers - Brouck