If you had a lot of gold (i.e. 500k +), what would you invest for profit? I.e. are there markets that only ppl with lots of gold can get in and make a decent profit off?
If you had a lot of gold (i.e. 500k +), what would you invest for profit? I.e. are there markets that only ppl with lots of gold can get in and make a decent profit off?
There isnt a niche market that only the "millionaires" can get into really. Unless you are one a VERY high pop realm and can flip TCG loot items. But even that is a risky game to play considering alot of the items are botted and crashed in price.
I think TCG items/mounts is indeed probably the only thing that comes to mind. Having gold mostly just means you have a number of professions leveled and (can) have a hand in all the major markets. You won't be stuck for gold buying materials in bulk, or sitting on 10-12 DMC decks waiting to be turned into trinkets at the faire. It's that bulk, and lack of risk to your daily doings that's what's different between someone with a lot of gold and someone without a copper on him, not so much which markets you have available.
I wouldn't invest in anything unless it was the very start of an expansion, or a major patch is coming up. I'd probably splurge on the BMAH.
Currently Procrastinating
Just wait for corrupted ashbringer, you will be waiting a looooong time.
500k? that's not much. I have close to that amount now and I still feel broke. I can't buy mounts because if I did i'd have no gold left. Yes, there is a market for people who have the gold on my server. I think a mil would be a better for your question for investing in profit. lvl some alts and do your farms everyday. I'm doing 5 farms a day atm and making bank.
Flipping eng mounts.
I've made 220k gold in one morning just from buying a "normal" spectral tiger mount for 200k and flipping it for 420k. Still have a Swift Spectral waiting for me whenever I turn my account back on. Buying expensive items and posting them for even more is probably the best thing about having that amount of gold. It's definitely the quickest way to make an enormous amount fast.
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Im sitting on 850k gold on Auchindoun and 3 Million on sylvanas. I got some tcg mounts/pets but I'm a Scrooge with my gold. No matter how much I got I refuse to spend it.
Really, once you pass your first goldcap its hard to see yourself under 900k :P
i would employ minions to do my bidding
A lot of people stay rich by not spending it. It also depends on which server you are on becaise its a lot easier to make big amounts depending on the server.
I tend to buy stock to cover me against fluctuations. If I see cheap stuff I know I will use later then I buy it , even if its 2-4 months down the line.
Yeah, the server can make a massive difference. On a low pop server you can completely control only a few markets with maybe only a single char. Where on larger server, you need to have you hand in many markets to keep the gold coming in if one market spikes or crashes for a while.
I've had 500k gold or more but I just gave a randomly number to friends when they needed. I LOVED to farm and do AH so it was easy for me to gather gold compared to all my lazy friends. Never really had a thing to invest as such but it was fun to buy out stuff and make a new price on it.
500k is rich? I play casually and have amassed a little over 2 million on one server. All the while, I buy all the stupid vanity items I can.
You're getting exactly what you deserve.
I have a rather hard time making gold, at least any sizable amount. Have an even harder time keeping it lol. Granted, if I hadn't gotten sucked into 80-85 twinking recently, I'd probably be on my way to gold cap.
I have found though, that in the grand scheme of things, it's not hard making gold. I started a new character on a random server, and just AH'ing almost anything I picked up, I managed to make a little over 50k just from the AH by the time I reached 85 (was back in cata). That's not counting what you make from vendoring crap along the way, quest rewards, instance drops, etc. I made a bank toon to handle all AH transactions, so I could keep track of exactly what I made.
It always boggled my mind that, with 12 or 13 level 90s now, I am perpetually broke when I managed to make that much gold with just ONE character. You'd think I'd be rolling in gold now lol.
Though I used to turn almost every crap into gold in Cata, I find it hard to stay rich in MoP. While it was easy to make 5.000+ G day by day, this isn´t the case now. Everything is too cheap and people seem to need less stuff.
Dailies are almost as efficient with the chance for Motes of Harmony or other rare drops. The "neccessary" stuff in MoP (like crafting the daily cloth, the daily gem, the daily scroll, win 1 bg, do 1 lfr, grind 1 factions daily quests) eats so much time that I rarely visit the auction house at all nowadays.
So, no matter how rich you are - it doesn´t seem to help. ^^