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14 April 2009

How to Make Money in World of Warcraft - It's All Economics

Are you ready to learn how to make money World of Warcraft style? Who isn't? Let's start by learning to control the marketplace. Oh, you think it's easier said than done? Well, maybe. But it's not that it's hard, per se; it's just time consuming.

To start off with this "control the market" strategy, you'll needat least 10g (200g would be better) in startup capital. After which, you want to seize a market after identifying it - like the large glimmering shards, for example - and work to drive the price up.

You know how to do this. It's all economics. You want to control the marketplace by having a monopoly. Instead of a competing Burger King to your McDonald's, you want to be the only place selling fast food. For instance, let's say that there are 14 shards at the auction house. What you'll do is buy them all. This enables you to set the price. You're the judge, jury and executioner here; you own the market on shards.

Once said market is seized, you must work to retain control. If a competitor comes along selling the same item you have, buy them out quickly. The longer you control the price, the less saturated the market becomes and your inflation becomes the standard. In a few weeks, other people selling shards will list them at your (the commonly accepted) price. Congratulations, the market is now yours. You can sell off your remaining items at that inflated price and immediately double your money.

You'll want to do this with more than one item, of course. Shards are just an example. Start with a variety of items and control multiple markets. But remember to not drive the price up very high. And once you have the price up, don't keep raising it.

Once you get to higher levels, however, you can start to control a little more ruthlessly. If you were to buy out every item in a range in level 40, for example, use this to your advantage by doubling the price and forcing people to purchase from your monopolized market. In WoW, it's supply and demand at its finest.

Market control is also a great choir for your ALT character because people won't like or respect you if they become wise to your maneuvers.

Also, remember that this strategy takes up a lot of time. You'll have the check the AH twice a day, and perhaps do some leveling. So, don't give up if you're not seeing immediate turnaround. Give the market time to react.

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