Bank Balance - 330,000g
Altoholic total gold - 42,500g
Incoming AH gold - 1250g
Grand Total: 373,750g
Up 110k gold in one week, around a 42% increase, not half bad if I do say so myself. I've had a lot of fun on the AH this week, with 3 little side stories to share.
Firstly I got around to heavily leaning on the gem market, crafting a starter stock of 8 of every high demand gem and 5 of all the tangible demand ones. The story here is that around Sunday morning I was sitting on my main bank alt half consciously feasting on a box of Mini Wheats when I noticed my main gem market competition get on. There's only 3 people besides myself I'd count as major players in the gem market, the guy I mentioned, who's on around 18 hours of the day who I've never seen go more than an hour without running a cancel / posting scan, a second person that only posts once or twice a day late at night, and a part timer that posts 10-12 types of gems every once in a while. Anyway back to my escapades, seeing my main competition just logging in to repost and having just fully entered the market myself I decided to test his mentality / patience and immediately undercut him every time he posted (for 1c undercut each time). After posting I waited a minute or two and ran a cancel scan, seeing that he'd almost immediately cancelled and undercut me. Fun Time. I proceeded to have a undercutting war for the next 20 minutes until he snapped and posted a 2-5 deep wall at 120g across the board (most of the gems being priced at 130-280g each), I was feeling playful so I undercut him once more, at which point he whispered me a condescending insult along the lines of me not knowing what I was doing and logged out. At this point I would have been perfectly happy to negotiate with the guy after I'd had my fun, however every time he logged on for the rest of the day he'd whisper me another insult or condescending remark. Continuing on to Wednesday market prices had semi-recovered so I started heavily posting again, although not as aggressively. My competition seemed like he'd learned his lesson till he pulled the same stunt again a few hours in. I'm a cautious man but I don't take well to idiots, and so since Wednesday evening have reduced all my posting minimums to my average costs and began relentlessly undercutting whenever he logged on, and plan to continue doing so until I've ridden prices into the ground enough that it's viable to reset the markets.
Among his comments was "Lol, i'm killing you, you can't make any profit!" that was at prices 40g above the current average, hopefully this will be a lesson in caution and tact for him.
My second project for the week was to take the Noah route and craft two of every Crafted Dreadful cloth item after finally learning all the patterns on my tailor. After setting up the TSM groups I tossed everything on the AH and was pleasantly surprised to make 3k in profit the first day. I was feeling pretty good about it, and it was what was keeping me from taking a shot at the gem market guy until someone popped on and tried to wall me at 125g for every piece. This proved to be the straw that broke the camels back and, simultaneously with the gem market, I once again lowered all my prices to cost of materials and began undercutting the new target of my ire with the same plans in mind that I had for the gem market.
Last but not least, I FINALLY got my transmog groups set up (as juggling 300 transmog items by hand was getting a bit tedious) and started posting en-mass. Unfortunately the transmog markets' demand is fairly low on my server so items sell slow and low, but I hope with enough hocking and price hikes I can bolster demand and the generally accepted prices.
Anyway that's all I got for this week, enjoy the May long weekend all.