World of Warcraft Gold Farming Tips are plentiful, but gold farming is a tough business. Have you ever wondered why some items in World of Warcraft sell for a lot of gold and then other items for mere silver or copper?
Even more so, you notice that on other servers the same items are fetching huge amounts at the auction house.
Well, World of Warcraft fans, the economy of the game is very much like a real world free market economy. Supply and demand is a very important lesson with regards to World of Warcraft...especially for you gold farmers out there!
So, what does this mean exactly? Well on some of the older servers, you have a whole legion of seasoned players who can go anywhere and harvest just about any thing in the game pretty easily. This means that if you are a young, new entrepreneur to the game, you are going to want to do one of two things. You might want to consider a newer server where many of the player characters are young (low level). Or, you might want to concentrate on some of the lesser harvested items that people do need regularly. (Supply vs Demand)
The second option might not yield as much silver/gold in each sitting, but over time you can amass great wealth by being consistent with it. Plus, you build a reputation of being the go to person when someone needs something.
Let's review supply and demand a little more. When you are at the auction house, take a look at what items are being sold. Look at how many listings, pricing etc. This is your research component. High supply with low demand is going to equal poor results for you the seller. Obviously you want to look for high demand with low supply ie tough to get items.
In World of Warcraft, tough to get items doesn't always mean hard to find...they could be items that people just hate to have to grind out. The dirty jobs if you will. Trust me, in the real world, there are plenty of dirty jobs out there that no one wants, but someone does and gets paid for well!
Here is an idea that is used well in real world free market economies...control the market. Where have we seen this? Dell Computers, Microsoft, AT&T are all examples of conglomerates that have or had control of their markets and therefore could command or dictate a price.
This same idea can be used in World of Warcraft by finding ways to be the sole seller of an item. If you are looking to sell an item that is currently being sold for far less than it should be at an auction house, this might be an opportunity for you. If you can purchase all of those items and then re-list them at a higher price, you might be able to drive the market for some time.
The World of Warcraft Economy is very much like a real world free market economy. Try to use things you have seen or observed in the real world and apply them to the game, who knows you may be able to get rich!
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