How to Take Gold Farming to the Next Level – Part 1
Gold farming on World of Warcraft can be lucrative, but once you start farming, you need to learn how to bring it to the next level. In essence, you can to be the middleman for anyone that has excess gold and wants to offload it – without much legwork involved.
If you’re just starting out, read our guide in the cheapest way to start gold farming.
Otherwise, I’m going to teach you how to start a gold empire in WoW and make cold, hard cash in the process.
Be the Middleman
World of Warcraft’s subscription rate skyrocketed back to 10+ million players with the latest expansion. The highest subscription rate of any MMO, WoW has a lot of players that are willing to sell their gold for cash, but there’s a problem: they don’t know how.
This is an opportunity that you can’t pass up.
Fill the void and become the middleman. This means you’ll buy the gold from other players and sell it to your trusted source – G2G.com.
No! Don’t do it. If you’re a smart player, you’ll never go directly to in-game chat and start asking your guild or friends if they want to sell gold. Blizzard has a lot of spam features in place to circumvent gold selling, and worse, game masters are always monitoring chat logs.
Instead, you want to ask your friends using:
If you’re in a decent guild, they will have Ventrilo (Vent) or TeamSpeak (TS) so that the guild can talk during a raid. Ask your guild leader what the vent or TS information is, or check the guild message of the day to see if it’s posted there for you.
You obviously never want to spam, so ask your friends or people you know from other MMORPGs if they have any gold they want to sell.
The truth is that most people have a ton of gold, but they don’t want to risk their account being banned. If you’ve played since Vanilla WoW, you know that an account with hundreds of hours of playtime is not something a hardcore player will want to risk.
Start Talking Pricing
When a person sounds interested or has taken you up on your offer, it’s time to start talking about prices. This is always a fluctuating market, so the price will change. Here is what I personally recommend:
- Check the current gold price for your realm.
- Start the negotiating process.
I’m going to show you an example of how this works. Using Tichondrius as an example, the current market rate for 30,000 gold is $11.85. However, you need to make a profit for yourself, so don’t go spurting out numbers just yet.
Grab a calculator and choose your desired profit margin. For me, I chose 30%. So, I will do the following calculation:
- 1.0 – .3 (or your desired percent)
- Multiply (1.0 – .3) by 11.85
Essentially, I would offer to buy the person’s gold, 30,000, for $8. If the person accepts, you need some form of assurance that they actually have the gold. There are a few precautions you should take at this point:
- Open a trade window with the player.
- Ask them to put the gold in trade without sending it.
This will allow you to verify that the person has the gold available. From here, I would ask the person to transfer the gold to my account and send them their money. This is done by:
- Asking the player for their Paypal ID.
- Creating or using a Paypal account to send the money.
Obviously, you can use Google Wallet or any other form of payment that you like best. Once the transaction is complete, now it’s your time to turn a profit.
Note: I ask for gold upfront because you have to front the initial investment to buy the gold, which is a risk.
Sell the Gold
Finally, you can profit from your hard work. Using G2G.com, create a new listing and mark up the price to the realm average – or slightly under – just like you would on the auction house.
I personally sell the gold for slightly less to make a fast sale.
It’s a fast and easy way to turn a profit without having to do all the gold farming by yourself. Obviously, you’ll be the middleman, which means you’re also losing out on a portion of the profits.
When you have characters on multiple realms, you’ll see the most benefit when using this method. Why?
1. You’ll have multiple gold streams; different realms demand different prices.
2. You’ll cover more of the market, meaning you can sell when market conditions are perfect on each realm and fill voids in lower population realms.
3. You don’t need to do all of the farming yourself.
It’s also a great way to build up credibility. When buyers buy gold from you, they will come back to you if they need more. This means you’ll be able to build up a steady stream of clients that turn into regular customers on your realm.
Now, a new trick that I have been implementing is actually buying WoW Tokens when the market isn’t favorable. Why? Using the example above, I could have sold the gold for $11.85, but I could have easily earned more in terms of value by exchanging the gold for a WoW Token.
Now, this means I can get a free month of World of Warcraft in exchange for the gold I just purchased. This is a value of $14.99. There’s only so much subscription time I need, so this is a rare occurrence, but definitely a way to circumvent low gold prices when the market fluctuates.
This is just the start of your gold farming empire.
If you’re smart, you’ll want to scale up your operation and start really making some good money.
In ‘Part 2‘
of this coming article, you’ll learn how to increase your workforce and have your employees do all of the grunt work for you.