Hall of Fame – 2 Million Gold Club: Richuncle of Aerie Peak- US

The Warcraft Econ Hall of Fame interviews the few elite players that have hit the World of Warcraft gold cap of 999,999 gold 99 silver 99 copper as well as ones who have obtain 500k and 250k. We have with us, Richuncle of Areie Peak- US, who will be sharing their story with us today.

Please tell us a little about yourself and your gaming experience.

Richuncle on Areie Peak- US.  I’ve always loved games, but I’m not a “gamer” at all in the contemporary sense.  I’ve spent far more time playing traditional games like poker, chess, bridge and backgammon than I’ve spent playing computer games, and I’ve never owned a console.  I started WoW simply because some card players I knew played and I thought it would be an interesting experience.  A couple of months later Aerie Peak opened and I decided to see what a brand-new server and the other faction were like.  I met (I am NOT making this up) a profoundly deaf high school music teacher who was just a blast to play with.  I stuck around, and 5 years later, I’m still here.

Do you raid or PvP most? Both? How do you enjoy the game?

Neither, actually.  I enjoy watching my gold stash get larger and discovering new and creative ways to facilitate that process.  I do have one 85, but I haven’t even run a Cata 5-man yet.

Why did you choose to collect this amount of gold?

When I started the game, I quickly developed a taste for virtual goods that far exceeded my capability to acquire them.  Not wanting to be a burden to others, I started exploring the Internet to see what I could do to remedy that.  My first borrowed strat was fishing for eels and junkboxes in Tanaris.  The first strat I came up with on my own was shifting Shaman BoE’s from Alliance to Horde and Paladin BoE’s back.  It all sort of snowballed from there and now I’m just collecting gold for its own sake.

Anyone or resource you would like to thank?

Where to begin?  The official Professions forum, Thottbot, Allakhazam & Wowhead, JMTC, Greedy Goblin, the Consortium forums, & Power Word: Gold, Auctionator, and most especially TSM.  A legendary millionaire on my server has also been very free with helpful advice, but he didn’t ask to be named here- if he stumbles across this: you know who you are, and thanks again.

How did you go about getting to this gold amount? Any creative or original ideas?

In retrospect, my strategies were horrible for years.  Flying around herbing and mining when you had to change the nodes visible on the mini-map manually?  Posting without an add-on?  Enough said.  So, fast-forward to Glyphmas, when Blizzard changed glyphs into permanent acquistions.  For the first time, I really camped the AH for hours and hours on end.  I made 70K from that Tuesday through that Sunday, which seemed spectacular at the time.  I decided to get serious, stop spending money on goofy stuff, and see how far I could push it.

I hit Cata still under the old 222K gold cap.  While prices were still absurdly high, I mined and herbed on my “main” (quotation marks because he doesn’t do anything anymore and isn’t even 85 yet).  When the dust settled, I got enough Cata gear on my “main” such that I could solo WotLK content. I started boosting two characters at a time in instances until I had five level 75′s.  I maxed the following professions: Alchemy/ Jewelcrafting X 3, Alchemy/ Inscription, and Alchemy/ Enchanting.  Later, I dropped Herbalism for Blacksmithing on my “main.”  I kept the Mining profession so I could smelt my own ore.

I had to complete the Elemental Ooze Jewelcrafting daily by going to Felwood, manually flying to the Hyjal starting area, and autofollowing my “main” as he killed the ten elementals.  THREE TIMES.  PER DAY.  That was tedious.  But, with 3 JC’s, I was soon able to offer more cuts than people with just one, despite their “head start.”  I decided to learn the 5-token ring and neck JC crafts, and that was an excellent decision- if I had it all to do over, I’d have learned the stat cuts (Bold/ Brilliant/ Delicate Rubies, Purified Demonseye, and Solid Ocean Sapphire) and then the rings and necks right away.  I now have all cuts.  I still do the non-Ooze dailys and have about 200 tokens in hopes that epic gem cuts will be trainable.

I also quickly learned that Transmute Living Elements in Uldum was far more profitable than the Truegold transmute, although that required still more tedious travel all over the globe.  Fortunately, with 4.2, that’s changed, at least for now.  I sort of browse around the Cata herb market and snatch up flask mats when they’re very inexpensive.  When I have a significant amount, I go to Outlands and drop Transmute Specialization for Elixir Specialization, craft a bunch of flasks, then pick Transmute back up.  That only costs 300 gold total; i.e. the first three proc’s.  It’s something every Alchemist should keep in mind.

I had (and have) three Inscription bankers with all glyphs organized such that I don’t sell out of something and forget it exists.  Before the Ink Trader popped up in SW, I kept an alt parked in Dalaran so I could insta-mail my Scribe whatever she needed.  I focused heavily on the DMF Trinkets for several months, quickly learning that there’s more at work than a RNG and some cards are rarer than others (Yes, they are, alright?  Look at individual card prices on TUJ if you don’t believe me.  No, it’s not a blip and yes it’s statistically significant LA-LA-LA-I-can’t-hear-you!)  Now, I just view the Inferno Inks as a bonus from milling to make Glyphs.  Even if Infernos didn’t exist Inscription would still be worthwhile.  Whatever cards or decks I get, I get, and I just undercut until they sell.

Enchanting: here’s my current problem.  Disenchanting Stormforged Shoulders with the Bountiful Bags perk is profitable, but it’s more profitable still to just prospect the ore for various Alchemy/ Jewelcrafting shenanigans.  There’s never enough ore on the AH to hit a point of diminishing returns.  My Enchanter and Scroll banker sort of only interact with each other: I buy mats and Scrolls with the money I’ve made in that market only and craft/ resell what I can.  It’s a shame when a Scroll is selling for hundreds more than it would cost me if I were creating my own Shards, but that’s hundreds less than I’d make Jewelcrafting- what can you do?

I’ll just touch on this briefly as it’s no longer possible and that gives me a frowney face.  Buying Vial of the Sands mats on a Goblin (and later on a Goblin with the additional vendor discount from the guild perk) and selling Vials to the Alliance was simply amazing- the most lucrative strategy I’ve ever encountered.  At its peak, I moved three or four per week for about a 13K net profit each, and I generously tipped my crafter.  Fifty thousand gold a week… for simply doing what I was going to be doing anyway, plus just a few minutes mailing and cross-faction trading with myself.  We’ll not see its like again.  /mourn

That leads to the bigger issue of arbitrage, or cross-faction trading.  It’s absolutely essential.  I’m shifting almost daily and I don’t even mess with things like faction-specific pets.  Different populations have different economic dynamics, and that disparity can and should be exploited.  Furthermore, it evolves.  On Aerie Peak, Horde prices used to be cheap across the board.  It was hard to sell to them profitably, but easy to find very inexpensive stuff to shift and sell the Alliance.  Now, for whatever reason, the opposite is true.  I could go on for pages about this.  Short version: use two accounts and Auctionator, and don’t be an idiot and try to sell yourself bleeding-edge epics for 1 copper.  Remember that the Neutral AH cut is 15%, so you can’t just move cash without a huge whack.  You need to move goods and sell them, buying low here and selling high there today, and vice-versa tomorrow.

Finally, read upcoming release & patch notes.  To take just one example: months before Cata released, Blizzard told us there would be an Alchemist 24-hour CD used by many high-end crafters.  Later, it was basically guaranteed that Truegold was going to spike 30 days after 4.2, right?  At least on my realm, you can still just reset Truegold and make money nonetheless, and now more than ever.  I’m glad I have five Alchemists.

What is your master list?

Any gems and glyphs listing above the minimum price I’ve set in TSM- it looks at every craft.  Any Cata Enchanting Scroll I can, plus Spellpower and Crusader (see above).  Whatever the most profitable daily Alchemy Transmute is- formerly Life to Air; currently Truegold.

What items are in your Snatch list?

Elementium Ore to prospect.  Whiptail and WotLK herbs to mill (the latter has largely dried up, sadly).  Other Cata herbs when they are very inexpensive for flasks.  Volatiles for Truegold Transmutes and the occasional Enchant.  Pyrite Ore for Truegold and to hoard in hopes epic gems are lurking inside.  Inexpensive Carnelians and Hessonites to Transmute.  Just the basics, really.

How did you learn to do it?

Reading the professions carefully plus the Internet resources listed above.

What addons, if any, do you use to help you make gold and why are they needed?

TSM is everything you need to post and mail in one package, and then some.  I still use Auctionator to rapidly buy out my auctions at the Neutral AH, and also for resetting markets.  I’m ashamed to say I’m unfamiliar with a great deal that TSM is capable of, and I really need to master it.

Are you still going for more gold? If so, do you have a new goal? Are you close?

I don’t know.  My last goal was 2 million, specifically so I could submit this application and get my bragging rights.  I accomplished that just this morning.  Let’s be realistic here: in goldmaking, the joy is NOT in the journey- it can be very tedious and you have to just keep your eyes on the prize and trudge ahead.  It feels mighty fine to have finally arrived, I must say.  On the other hand, my set-up is still there in-game and running on greased rails.  It seems a shame to abandon it.  We’ll see.

Do many people know you have this amount of gold?

Nope- my Vial crafter knew when I made my first million.  The richest player on my server (who is the nicest guy in the world, unless he’s dealing with a jackass) knew I was closing in on two, but that’s it.  That’s going to change now, though.

Did you spend your gold on fun things? What have you bought? What things would you like to buy?

I do not.  My 85 has a few BoE epics equipped, but not even all she could, and frankly I sort of regret buying those- I could have been composing this yesterday.  Simply standing in SW looking at a million in a guildbank and another million on a banker is more fun than a rare mount or whatever.  If I thought I could pay people to patiently teach me how to play, I’d seriously consider it, but small motor coordination is not available for any amount of virtual currency.

If you were the professor of a gold making 101 college class, what would be some things you would talk about?

Understand the interplay between various professions, specifically the shuffle.  Automate posting with TSM.  BE PATIENT.

How about an advanced gold making class?

Cross-faction trading.  Anticipation of opportunities presented by patches and expansions.

Do you have any good farming strategies or spots?

If I did have to farm, I’d quit.  OK, I kid, I kid.  There is one really first-rate farming strategy: Mining and Herbalism on the fastest flyer you can get.. at midnight on expansion release day.  Until then: fly around the edges of Uldum and the mountainous areas in the south for Elementium and Pyrite, and once up and down the river per sweep for Whiptail.  Be aware of your competition and try to pace yourself appropriately, i.e. just chill for a few minutes if you’re right on top of one another.  That’s the best I’ve got.  Want something more creative?  Remember that it is impossible to fail to catch fish from a school.  A level 5 with fishing level 1 could work the coast of Uldum no problem and make maybe a couple hundred an hour.

What was the best deal you ever came across?

Yasmin selling my wee Goblin mats for a Vial for 20,300 gold, but that’s not what you meant.  Next would be farmers, no doubt third-world professionals and/ or botters among them, who sell me bulk ore and herbs at deep discounts, but that’s still not in the spirit of the question.  I’m sorry- I’ve just not had a lot of luck with BoE’s or very rare recipes and I don’t look for them anymore.  It’s nice to find a rare DMF card for a few hundred and I caught a Hyacinth Mcaw very inexpensively once.  That’s about it…

Do you remember any of your worst deals?

Now we’re talking!  My first six-figure deal went south very badly.  It was for sixty Maelstrom Crystals and represented about a 25% discount over then-current prices.  I should have been barking them for 10% off non-stop, but I got greedy and lazy and tried to sell them at a premium over time.  In case you haven’t noticed, Maelstrom Crystals don’t sell for 1.5 K each anymore.  I also picked up all the BoE Bracer Enchant recipes at a very reasonable price shortly after they started dropping.  I was able to learn them no problem.  The only hitch was that I couldn’t actually CAST the Enchants because that required a BoP rod that was sold by an out-of-phase vendor in Twilight Highlands and my enchanter was 75.

What are your future plans with WoW?

More professions!  Maxing BS for belt buckles.  Leatherworking and Tailoring for the leg enchants and cloth CD’s.  A Druid Herbalist/ Miner for the first weeks of the next Expansion.  Expanding my TSM capabilities.  I may even try actually playing the game, as crazy as that sounds.  That’s always ended badly in the past, but who knows?

What are you predictions for the future WoW economy?

Epic gems from somewhere, hopefully already-existing stashes of Pyrite Ore, and epic cuts from somewhere, hopefully the trainer but for lots and lots of tokens.  A major reworking of Inscription, eliminating the Book of Glyph Mastery and adding more utility to the profession.  Shorter tailoring CD’s.  Later, some sort of a nerf to Jewelcrafting: the most profitable profession is one of the two best raiding professions?  That can’t last.

What your favorite artists, songs, movies, shows, or streams to watch while you are making gold?

How did you go from one to two million gold?

Simply a very efficient use of five professions, six level 75+ crafters, and add-ons as outlined above (leaving aside the significant but no longer relevant Goblin Vial profits).  The answer would be no different if the question was “from less than 200K to 2 million,” by the way.

Why did you do the things you did between one and two million?

What can I say- because it worked in the past?  I don’t really play, so I don’t have a very good working knowledge of BoE epics, and my server’s premier millionaire is all over that market.  Niche markets like faction-specific pets seem to be pretty well covered.  Farming is very low GPH.  So, what’s left?  I make the stuff that makes your stuff better.  Now go smack a dragon with your sword or shoot a fireball at it or whatever it is that you guys do to get upgrades with empty sockets!

What are your most profitable markets that represent a large percentage of your net profits and why?

Jewelcrafting, because I have the bankroll to buy all the reasonably-priced ore, the patience to prospect it, an understanding of the shuffle, crafters who can transmute and cut everything, and the add-on that posts gems, cancels undercuts and reposts them as fast as I can click a mouse.

What is the best advice you can give to other players?

Get two accounts and trade cross-faction.  Master TSM (that’s good advice for me as well).  Pay attention to pre-release patch notes for opportunities.

If you now see the value in dedicated crafting alts and want to go that route. I can finally offer something truly new and original.  Recruit a Friend will now take them not just to 60 but all the way to 75 (or 80 if you like, but that’s currently unnecessary).  After granting levels, you could have five 75′s in the time it would take to quest one character to 75 the old-fashioned way.  Assuming you already have an 85 with just one lucrative profession, that would enable you to get exactly what I’ve got, including (eventually) two million gold.  You can do it all alone on one computer with no additional software, and with three accounts you can even boost RAF duos through instances.  Have fun!