Project Lore

I recently had the opportunity to speak with one of my favorite WoW bloggers, Gevlon of Greedy Goblin. Gevlon is one of the few players in the game who has reached the elusive "gold cap" of 214,748.3646 gold. He is known for being extremely cynical and having radical and critical views of almost everything in WoW - from the game becoming too easy and the value of networking in game to more complex topics like objectivism, feminism, and welfare. I've been known to be cynical at times, and Gevlon's unique ideas often give me some great food for thought. Thanks for talking with us today. Tell us a little bit about yourself and how you started blogging. I've been playing WoW for 2 years. I've never had problems with making gold, had around 5-10K gold all the time. I had my first 100G before lvl 20, and 5000G before going to Outland. I thought everyone was like this. Then someone asked for 1000G for their epic flyer and promised they would "farm a lot" to pay it back. I asked him what "farming" was, and he described the terrible routine of grinding elementals in Shadowmoon for hours. Others joined in guild chat and agreed that besides buying gold, your only choice was grinding. That's when I decided to make this blog. Larísa helped with the first steps; I figured out the rest. What is the appeal of collecting gold? You often criticize gold sinks like the Traveler's Tundra Mammoth or the motorcycle mounts, so what do you spend your gold on? The appeal is not grinding. Ever. Nor doing daily quests. I haven't done a SINGLE Argent Crusade daily; no wolvar pups for me either. For me, gold has one purpose: raiding. I pay five thousand gold per week to a guild to raid despite my 20-30% attendance. You have talked about how you "buy" a raid spot since it is easier and quicker for you to make money than it is for you to spend time with groups that are just learning the encounters. Can you talk about this briefly? I like the challenge of raiding, but I don't want to spend 3-4 evenings on it, especially since serious part of it is repetitive. Orbituary is great at first, fun the second time, and just boring third. By paying, I attend 1 raid per week. I skip farm-raids and go directly to the most interesting hard mode attempt. I was present on Orbituary and Steelbraker first, and currently I'm going to Vezax hard tries. I don't even have the normal Vezax kill. I've already written that I find gear upgrades overvalued, so I don't bother farming gear. My gear is a mixture of random ilvl226 with 213 and even 200 trinkets. I still got lot of gear, since everyone else already farmed everything out of Ulduar normal modes, so I have no competitor for ilvl226. You "roleplay" a "greedy goblin" a bit on your blog, or at least use it as a metaphor for the archetype of a player out to make gold wisely. How and why did this start? Goblins are a money-oriented faction in WoW, so it was an obvious identification. I've started the blog in a roleplaying fashion, but that faded away quickly. I like the word "goblinism" since it is without the non-business aspects of real world philosophies. Terms like "liberalism" not only mean free market, but also the support of gay rights. "Neo-conservatism" not only means deregulation, but also violent crusades against the "enemies of freedom". I don't want to say anything about these things; they are simply not my topic. By being "goblinist" I don't have to struggle with comments like "how can you still support neo-conservatives after Abu Ghraib?" You have recently started a "goblin apprentice" program where you help lucky players learn how to make gold and blog about it. Can you tell us about this? From time to time I post an "apply now" post. People send me mails. I pick one, create a banker toon on their realm and start giving them advices how to make gold. Post their progress on the blog for other readers. When I write this, the second applicant is not yet selected. The first one made 5K in a week. What WoW economy-related blogs do you read or suggest?

• Just My Two Copper
• Zekta's Stuff
• Warcraft Econ
• One Copper
• The WoW Street Journal
• WoWenomics

Do you think that the professions are "balanced" for money-making? People agree on one thing: the worst professions to make money are the two they currently have, no matter what they are. Inscription is definitely the most profitable, simply because it's the most complicated (you have to juggle 350 recipes), so not many people do it. The rest of the crafting skills have a similar gold per hour ratio, and all of the crafting professions are way above grinding or even gathering. You seem to have mixed feelings on Inscription. What do you think about the profession, and what would you do to change it? WoW is made "casual" friendly (I really hate this "politically correct" term). Still, Inscription needs lot of addons, seed money, and serious time to start (after that it's running quickly). So I'm not surprised that there are not many scribes who use it to make money. I would change the glyph system so that adding glyphs does not destroy old glyphs. When you apply a new one, you should get the old glyph returned to your backpack. That way, the huge demand for glyphs would decrease (and also the huge money the common players pay to goblins). What posts do you suggest new readers read to get an introduction to your blog? The "my business" tagged posts. They are the most directly about making money. What/who is M&S, and where did that terminology come from? Morons and slackers. I believe WoW is easy and everyone who fails in it is either as dumb as piece of rock or as lazy as a welfare leech. However, real casuals cannot fail as they don't raid or PvP. There is no "success" or "failure" in fishing coins. What add-ons do you recommend or use for your daily trading? Auctioneer. The rest is for crafting: Lil'sparky, whohas, possessions. What do you think about gold farmers? Should Blizzard being doing more to stop them, or are they inevitable and even essential to the current game economy? They will exist as long as there are M&S who can't make money. Blizzard won't do anything about them since the goldfarmers also pay them $15 a month and they don't harass other players. What simple tips can you offer to players looking to pad their wallets a bit? Have the Auctioneer addon so you won't sell stuff for half price. Also, don't be a packrat. There is deflation; the items that are worth 100G today will be worth 10G a year from now. Sell everything in your bank that you don't use or plan to use in a short time. You can buy it back later cheaper if you need it. Thanks for talking with us! Thanks for the opportunity!

Click to read more ...

I have been on a bit of a financial kick lately. Although all the advisors out there say someone my age (less than 35) shouldn't worry too much about their portfolio, it is hard to break a daily routine. This daily routine actually extends into my digital life as well, as I am constantly monitoring fluctuations in the Azerothian market as well.

Being a self-proclaimed financial analyst, I figured I could give you guys a few pointers on how to cash in before the launch of Wrath. You see, as with any content patch, let alone an expansion, many things will change. It is pretty safe to say that no item from The Burning Crusade will remain at its current level of value once Wrath launches in mid-November. Although this may sound like a doomsday statement, there is still plenty of money to be made in the market.

Run On The Banks

The first thing you guys should do is take a hard look at your banks on all of your characters. Grab one of my favorite UI addons to make things easier. BankItems will allow you to look at all inventory - bank, mailbox and bags - on any character. Now that you can browse things easily, grab any items that will be worthless in Wrath and get the money for them while you can. Things like Primals, some enchanting mats and potions will all be replaced by better versions once Wrath launches.  Dump 'em like an abusive boyfriend.

Players should be able to pocket a sizable amount of gold by clearing out their banks of useless junk that they have been saving “for a rainy day.” Not only that, but your bank, and bags will be nice and tidy for the level grind to 80.

To The Market

Ore, leather, and cloth are a different story though. The market for these items will be different than the higher end gear, mainly because they are profession based. As mentioned in the comments section of my other economic post, things like low to mid-range cloth are actually selling at inflated prices. The reasoning behind this is due to many people leveling up alts for Wrath. Why stop and eat something when you can transmute some bandages and just keep on grinding?

This sets the old supply-and-demand graph on its head, with almost no supply but a high demand. Time is money friends and that jacks up the price on many trade profession goods.  If you have time, go farm some of these mid-range items on your main, and reap the benefits.

While running on your bank is making you money, it's more about cashing in while the items are worth something. In the trade profession market, you could make a good amount of gold by resale alone. If you are going to give this a run, be sure to pick up the Auctioneer Addon suite. It is a must have for any Auction House monitor, recording, scanning and adding functionality to the standard AH layout.

I should mention that each realm is different. What is selling like hotcakes for me may not be worth looting on yours. As an example, the ore market on Magetheridon-A has bottomed out recently, with high-end ore being at its lowest point since I reformatted some time ago. In contrast to that, mid-range ore, like Thorium, is through the roof. The evidence – that the bars are selling for much less than the ore – points to miners just buying it to smelt for skill points.

Be Careful - It Isn't Fool Proof

Be careful and do your research before you dump your stuff. Selling on the weekend and buying on weekdays (or bidding right before the servers go down) are also handy tricks to pulling in extra cash. Everything counts but it is still a risky market out there. Use my tips at your own risk but please, treat your financial advisor right. The last time I gave our readers some tips I couldn't use the ideas myself for a few weeks. I have no problem with players on my server making a buck, but send me (Solidsamm of the Alliance) 5% of the profit! Kthxbye.

Click to read more ...

To quote a famous song, "You can't always get what you want. But if you try sometimes you might find you get what you need."

Just because you farm for hours, does not mean you will get all those mats that you 'need'. Just like life, WoW is random. I've gotten blue and purple drops back to back in a one hour session, a Recipe for Savory Deviate Delight before I knew what it was for and even three drops on my second run in Gruul's.

Then again I've spent days and days trying to farm Recipe: Elixir of Giant Growth and finally bought it off the AH.

So when you're bitchin' about not get those motes of fire or the elusive Schematic: Stabilized Eternium Scope , just remember, life, and WoW life, is random.

And that you get what you need.

Click to read more ...