Comprehensive guide on making Gold with Jewelcrafting

[Warwithin]

"The name of the Auction House game is to monopolize the market and force buyers to purchase your item, regardless of competition."

I've been seeing an ever-increasing amount of threads on the Profession sub-forum in regards to professions to make money, addons to optimize money, etc., I figured I'd throw out all the information I know in regards to making gold to the MMO-Champion community.

I preface this entire post with the fact that the best way to make gold is in the Auction House

Addons
I do use several addons in the money-making business, but they are all optional. You do not need addons to make gold with the Auction House, but those that I use make the process much easier.

• Auctionator - This addon has several features, but I'll only be talking on those that I've found to have the most use.
  • Sell - The Sell Tab is a customizable tab (In terms of preferences as to default listing times, amounts of multiples varying by item-type, etc.) which allows the user to drag-and-drop items into the Auction House window and easily list mass items without the time consumption of splitting stacks and all the superfluous clicks.
  • Buy - The Buy Tab is simply a tab where you can put a wish-list of items you want, and they are only a click away to search for them to view their prices, rather than the few additional seconds of having to type in the name of the item you want. (The name of the game is time and the ability to monopolize the market)
  • *Most Important* Check Auctions - This is a button you can press to have Auctionator scan the Auction House of the items that you have listed, inform you whether it's the cheapest price on the Auction House or not, and give you the option to cancel all the auctions you have that are not the cheapest option. I will explain why this is vital later in the guide.

[list]

• MailGet - This addon allows the quick retrieval of mail without having to waste time clicking page after page of mail.
  
  • No real need for a lengthy description for this addon. MailGet allows you to, with one click, gather up all of your mail without all the time-consuming clicks.
  • There are a few options with this addon. You can set it to auto-accept CoD's, take Auction House winnings, or the lack of either.

Other than that, there is no real other need for addons, in my opinion, to maximize profit in the Auction House. If you use others, it's your choice.

The Method
The way you go about actually making the money is dependent on your professions. I have 450 Jewelcrafting and 425 (recently leveled) Tailoring on my Warlock, and 450 Enchanting on my Shaman. The method works best if you have Jewelcrafting and Enchanting, but will work with merely Jewelcrafting.

• Step One: Observe the Market. You need to understand what gems are in demand, what gems have a consistent high supply, and which gems seem to stagnate in the Auction House and the prices fluctuate frequently. This is key. While, typically, the Cardinal Ruby's will be the most expensive of all the gems universally, it varies from server to server from there on. You need to understand what gems people want, and what gems have the most difference between the cost of the cut gem and the uncut gem to generate the most profit.
• Step Two: Get Epic Jewelcrafting Recipes. No, you do not need to have every single one of those available, but 1-2 cuts for each gem is recommended. Yes, this does take some time to get all the factors in place to make money, but the process can begin once you've acquired your first cut.
• Step Three: Use Auctionator and be aggressive. Will explain more below.

Additional Information

• The way that I use Auctionator to make money is by purchasing uncut gems, cutting them, and reselling them for a profit of 30+ gold per cut. The goal is to force the buyer to purchase your gems, and not other seller's gems. Auctionator helps you do that. When listing gems, you want to list them for only 12 hours, and expect to cancel and re-list them several times before selling. You list for 12 hours for a cheap listing fee, and, if the Auctionator scan shows that you do not have the cheapest price for the item, you cancel the lot and re-list it, marginally undercutting the competition. This effectively forces the buyer to purchase your product if you are willing to spend several hours going back and forth from the Auction House and the mailbox.
• The best days that I've found to sell gems are Tuesday and Wednesday evenings. Tuesday because all the raids have reset, so everyone is trying to knock out all their saves and getting new gear; thus, in need of gems. Wednesday because, as far as I can tell, that is one of the more popular raiding days. While only listing on those days and stocking up items to sell on other days is not a rule to live by, some may recommend it. While I do sell the bulk of my items on those days, I'm not opposed to casual selling on off-days.
• The reason I said enchanting was so helpful was because it allows you to prospect alongside everything else. Let me make this clear: You cannot make money with Titanium Ore prospecting in the long run. While you may get lucky, it is not a profit engine. To generate profit, prospect saronite. Use the same principals as above applied to rare gems, along with cutting all but the Shadow Crystal and Dark Jade uncommon gems into green items to disenchant, and you can make some additional profit.

• There is a lot of money to be made with the Auction House. It's all a matter of knowing what to press.
  

I'll be adding tidbits of information as to specific settings, etc. in the next few days once I'm back at my computer I use to play WoW and can check them.

I hope the guide helped, and if you have any comments, questions, or opinions to voice, feel free to post below.

Thanks for reading

[Warwithin]

Reserved.

[Warwithin]

Reserved (Just in case )

[Ryme]

Not to be cruel or un-supportive, but isn't this just a long winded way of saying using your professions, buy low sell high?

[Warwithin]

Not to be cruel or un-supportive, but isn't this just a long winded way of saying using your professions, buy low sell high?

Eh, that could be the short and sweet version, but I'm just relating what worked for me, what addons helped me, and how to use those addons.

[Deleted]

This is what i do and it works very well.

(allthough i use Quick Auctions2, but it has the same functions)

I got about 25 epic cuts, with some less common and therefore not in so high demand. But again when they do sell, they generate much higher profits.

tip: It's good to monitor which gems you sell, and if you have more raw gems, cut another and post it. This makes the cash flow in even bigger waves. Just remember not to go under a 20g profit from uncut to cut gem.

[PvE_Mage]

Since epic gems have come out I've made at least 20K by buying uncut gems for about 140G and selling cut gems for at least 190G.
But I've noticed that a lot less players are buying cut gems on the AH these days, even at the end of raiding days (tue, wed, thur). Maybe it's just my server ?

[ArthurEdwards]

first know what gem are really needed and can make you really high profit. Then check AH for availability, the less the better. If you that enough gold buy the lowest selling price and monopolize those gems and sell for higher price. Buy uncut gems if needed..