Hall of Fame – 1 Million Gold Cap Club: Preheat of Staghelm-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, Preheat of Staghelm-US, who will be sharing their story with us today.

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

I’m Preheat of US Staghelm. I’ve been playing WoW since retail but quit most of BC and WotLK. I didn’t get into the gold scene until about 3 months into Cataclysm. I because interested because I was transferring servers with my guild and wanted to take the gold I had acquired through farming and cultivate it by finding items to buy low, move, then sell higher. At first gold making was just something to occupy me while I waited until raid time, but I found that making gold was a ton of fun for me, so I ran with it!

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

I lead a 10man hardcore raiding guild that’s currently pushing through heroic modes in Firelands. I’d say raiding is my main focus in the game, but being filthy rich certainly helps with it. I have some great friends that I play with that help things run smoothly and keep things fun and interesting. I’m also one step away from my legendary staff!

Why did you choose to collect this amount of gold?

Hording gold is an addiction of mine. I felt so relieved when I finally completed the goal that I had in mind way back 6 months ago to hit cap. I did take a few breaks from the gold game but I felt truly focused in that ending stretch of 100k. Aside from it making me feel elite, I do it so that I can give gold to others.

Anyone or resource you would like to thank?

My girlfriend for always appreciating me being her in-game suggadaddy and tolerating me;  also, my pal Drashav. I couldn’t have done it as quickly as I did without you, man! You kept me interested in making gold and I probably would have never kept interest without you.

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

I made the bulk of my gold through high risk investments in mounts and BoEs and cross-faction buying and selling. I noticed that all of the farmers on my server were selling horde side so their mats were way cheaper for just about everything. I became involved with the cross-faction Elementium shuffle. It was easy to create a strategy, for example:

-Buy Elementium Ore 20g a stack horde side

-Move ore to alliance side and pay friend to process the mats (ore is 40g a stack alliance side so investment has already doubled)

-Move disenchant mats created with cheap ore back horde side to sell (Investment roughly doubles again since disenchant mats are high enough of justify ore at 80g a stack)

-Sell in bulk to small-time goblins horde side who don’t know better

-Reinvest profit into ore

Some might call this shady but goldmaking at it’s core is exploiting laziness and ignorance.

I think a lot of newcomers make the mistake of thinking that low profits aren’t worth the hassle. If you have a near infinite supply of an item at a certain price you can make near infinite profit by processing it and selling it, as long as it’s a fast moving item and it’s moderately profitable. Of course this only works in certain climates, but most of my gold making at the moment is done through insanely quick sales of items I process for very little profit. Those little profits add up and make me a lot more than the guy who posts above me for 150-200% profit and never makes his sale.

Research and Trial and error is key. If you end up with too much supply, never panic. Try to conquer and divide, in that order. Always look for more options in your sales. Don’t be afraid to sell low. Don’t be afraid to use the neutral auction house.

What is your master list?

I try to sell just about anything an average player might be interested in:

• All Gems
• All Glyphs
• All Flasks
• Belt Buckles
• All Bloodthirsty armor pieces
• Extra tradegoods and volatiles
• Expensive BoEs / Mounts / pets
• Disenchanting mats

What items are in your Snatch list?

• Book of Glyph Mastery
• Cataclysm trade goods when they dip low usually on weekends (all of them)
• Briarthorn
• Goldthorn
• Fel Iron Ore
• Cobalt Ore

How did you learn to do it?

I learned mostly my trial and error but I got started by just researching the big name people on the auction house and what exactly they were selling to try and take their markets over. I’ve been in a lot of AH pvp (even against glyphbots) but I think I’ve conquered most markets.

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

TSM (if you don’t use this addon, you really really should), Auctionator, Postal

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

My goal now is to just stay as close to goldcap as I can while I buy everything I want, even a tiny bit.  I feel that it’s important to reward yourself for a job well done.

Do many people know you have this amount of gold?

It’s a small server so I’d say most people have heard that I’m capped out but probably only a few believe it (those being people who know how to compare achievements). I’m certainly well known on the server, but not everyone was cheering me on as worked the auction house.

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

I buy just about everything that want. I currently have the 100 mounts and pets achievements and constantly buy BoEs and flying for alts and friends. Under my “total gold acquired” character statistic I have almost 3 million, so I’m a big spender. My advice would be to not be afraid to give gold to friends in need, most of the time they return the favor. One item I will never buy is the Sandstone drake, I really really don’t like it. I’m currently looking for a tabard of light and a Magical rooster egg and won’t hesitate to spend gold on them.

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

Research is key. Research your competition. Use TUJ to scope people out before you wage war on them. Try to find the big suppliers and sellers around you and work deals with them. ALWAYS, ALWAYS, ALWAYS inspect someone and compare achievements with them, looking at wealth statistics, before buying them out and resetting a market. Lots of newcomers make this mistake with me, not knowing the 500 belt buckles they just bought from me to re-post are just the tip of the iceberg.

How about an advanced gold making class?

The advanced class would focus on big picture things like flipping BoEs and stockpiling. I think once you get a feel for how the market flows, things really click. Try to put yourself in the mindset of the customer and see trends before they happen. I think most of these things are just trial and error discoveries.

Do you have any good farming strategies or spots?

I don’t farm, but if I did I would farm vanilla greens and tradegoods to craft and disenchant into Illusion Dust. I’d also farm the mats that people need to complete their level 60 legendaries since most people finishing them are so manic that they aren’t thinking rationally. They will buy the mats the instant they get done for insane prices.

What was the best deal you ever came across?

Neutral auction house ilvl 378 epics for 1c. It happens, you just have to be there looking at the right moment. Other than that I got 2 Reins of the Crimson Deathcharger for 60k each; one I flipped for 120k, other for 80k.

Do you remember any of your worst deals?

Back when there was a lot of hype about pyrite I was buying unlimited amounts at 160g a stack. That was really really silly, compared to the gem and v. Earth prices then.

What are your future plans with WoW?

Finally becoming 7/7Heroic, my legendary staff, a tabard of the lightbringer, and a magical rooster egg. Not too much to ask for, right?

What are you predictions for the future WoW economy?

I think that a lot of people are going to be buying a lot more 359-378 BoEs. Other than that, just the normal story of item enhancements, gems, and enchants that will be selling faster than you can make them.

Please tell us a little bit about how you handle your real life finances. What are the differences and similarities with how you do things in WoW?

In real life I don’t have money to invest to put into investments, but if I did I would probably be into tier 2 and penny stocks. It’s something I’ve researched for a while but I just can’t afford since I’m a poor college student about to graduate.

What are your thoughts on the real money auction house that will be implemented in Diablo 3? How will you take advantage of this new change?

I think it’s great, and I can’t wait to see what kind of damage I can do once the game comes out. I’m really really excited for Diablo 3.

Thank you for taking the time to do this interview for Warcraft Econ. Do you have any last words?

Goldmaking is a three set process:

1. Research (TUJ)

2. Trial and Error (AH)

3. Automation (TSM)

Everyone can become a WoW millionaire, it just takes a little time and a little work in finding a comfortable routine.