Stormwind City, Auction House - It takes 10-12 minutes to do a scan, check the mail, use the Search function in Auctioneer to look for Vendor items and Resale items, look for items based on category (I'm partial to herbs and ores right now), post what I've bought for resale, and log out. That means I get 5 to 6 cycles per hour of /played time. The best thing about World of Warcraft, gold making in World of Warcraft I should say, is how quick you can turn an item around and have it out there for someone else to buy. The only place you really see this sort of thing in real life is on a stock exchange, but the market is so fluid at a stock exchange that there is rarely much short-term profit margin.
During this hour, I dipped my feet a bit more into commodities. I purchased 2 and a half stacks of Sungrass at roughly one gold per Sungrass. I quickly resold them at 1.50g, and I probably could have posted at 2g a piece, but, again, I just don't have enough baseline gold at this point to really maximize my expected return. This poses an interesting psychological problem: What happens in a few days time when I see Sungrass selling at 1.50g and think it is a good deal to buy up and post at 2g? Do I let the breadth of my sales win out over a specific instance of maybe selling too low? Or, do I treat the purchase as objectively as possible -- if there is profit to be made, make it.
My biggest score during this hour came late with the purchase of 470 Relic of Ulduar at about 20s a piece. I quickly reposted and doubled my purchase price by the next time I logged in. This is another situation where I certainly could have gotten more if I'd let them sit at a higher price, but I need the gold now. I also noticed that the person who purchased them from me flipped them up to about 50% higher than where I posted them. And I'm sure they will sell, it just might take a few real life days to do so.
Total Assets at the end of 4 hours: About 300 gold
Go to Hour 5 of the Alpha Competition
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