Are you making the most profit you could be from your current professions?
Hitting the gold cap has given me a new found energy to really go for more gold, and as I sat back looking at my total income strategy I was pretty surprised at the state of my DK alt with Jewelcrafting and Enchanting.
With his Jewelcrafting I have only bought 11 cuts out of a possible 120 cuts that can be purchased. A majority of those 120 cuts may not sell too well and I held off from buying additional cuts until I hit 10k (to finish the project) but when I finally reached that mark on April 20th I should of started to buy more afterwards, I definitely had the capital to do it.
Also with Enchanting I finished leveling it on May 4th but have only focused on selling the scrolls I created during the leveling process. This is a huge income potential I am missing out on only because I was content with the amount of gold I was making from inscription and the few cuts with JC I had.
Maximizing Profit from Jewelcrafting and Enchanting
In order to get the most from these professions I’m going to need to buy the rest of the cuts and recipes. This will take a fair amount of upfront capital and there is a bit of a risk associated with this as we are in the late stages of the expansion, but I’m confident the costs can be recuperated before Cataclysm arrives.
Buying Jewelcrafting Recipe Cuts
I’ve made a previous post on how to decide which jewelcrafting recipes to buy based on the most profitable jewelcrafting cuts, and I’ve used the same method to continue buying more to complete my list. I use the site www.wowpopular.com to see what the most popular cuts are then compare the raw gem cost to the current market price for the completed cut.
I’ve gone ahead and purchased an additional 4 cuts, I would of bought more but the average price of titanium powder is 28g on my server and after I bought all those up the next highest was 50g each which is too high for me.
I bought the following cuts:
Runed Cardinal Ruby – Ranked 2nd most popular cut
Bold Cardinal Ruby – 5th most popular
Delicate Scarlet Ruby – 12th most popular
Brilliant King’s Amber – 17th most popular
If you were wondering why I didn’t have the Runed Cardinal Ruby earlier given it’s the 2nd most popular cut on wowpopular.com, every time I checked up on the prices on my server of the cut it was usually lower than the cost of an uncut cardinal ruby but I figured it was time to have the most popular cuts known.
I have a further 14 cuts on my buy list once the market gets more titanium powders, lower priced titanium ore to prospect, and as I complete more jewelcrafting dailies.
It cost 3,420g to purchase the recipes as I had a few titanium powders sitting around already. On average I sell each cut I bought around twice a day for 20g profit. At that rate it’ll take me 21 days to recuperate the costs of the recipes and after that I’ll be making a profit. (3,420/4 = 855g each; Selling 2/day at 20g profit = 40g; 855/40g = 21 days)
Buying Enchanting Recipes
Next up is to buy up enchanting recipes to start crafting scrolls. What I’ve seen so far in this market while trying to sell my first couple scrolls is that competitors love to undercut constantly given there aren’t any deposit fees to post.
I went ahead and checked out Vanessa Sellers in Dalaran, turns out I only knew 2 of the scrolls she offers for sale and they are pretty cheap to buy. A dream shard sells for around 8g on my server and it takes either 4 or 10 to buy each recipes = 32g – 80g to purchase each recipe (opposed to 840g – 1,120g per jewelcrafting cut)
So I bought up 160 dream shards for 891g and proceeded to buy up the following enchanting recipes:
Formula: Enchant 2H Weapon – Massacre
Formula: Enchant Bracer – Major Stamina
Formula: Enchant Staff – Greater Spellpower
Formula: Enchant Weapon – Accuracy
Formula: Enchant Weapon – Berserking
Formula: Enchant Weapon – Black Magic
Formula: Enchant Weapon – Lifeward
Formula: Enchant Weapon – Mighty Spellpower
Formula: Enchant Weapon – Superior Potency
Formula: Enchant Boots – Greater Assault
Formula: Enchant Boots – Tuskarr’s Vitality
Formula: Enchant Bracer – Superior Spellpower
Formula: Enchant Bracers – Greater Assault
Formula: Enchant Chest – Exceptional Resilience
Formula: Enchant Chest – Powerful Stats
Formula: Enchant Cloak – Greater Speed
Formula: Enchant Cloak – Mighty Armor
Formula: Enchant Cloak – Shadow Armor
Formula: Enchant Cloak – Titanweave
Formula: Enchant Cloak – Wisdom
Formula: Enchant Gloves – Armsman
I skipped out on buying the following recipes, either because they seemed obviously bad or the comments on wowhead.com said it wasn’t used:
Formula: Enchant Weapon – Giant Slayer
Formula: Enchant Weapon – Icebreaker
Formula: Enchant Weapon – Scourgebane
Project: Track Which Profession Makes the Most
Now that I am starting to bring my other professions to their maximum earning potential, I can compare how much profit can be had from each if you put in the maximum effort. I currently have engineering, inscription, jewelcrafting and enchanting; with plans to get the other crafting professions as well.
How I’ll do this is track how much time I spend on each seperate profession – buying materials, crafting, posting and canceling/reposting and so forth. From this we can gather which profession makes the most gold for the least amount of effort.
I already started tracking as of yesterday and this will be included in my weekly gold progress updates, how much time is spent on each profession and how much profit each earns.
Popularity: 3% [?]
Ive had enchanting for quite a while, but only over the last month or 2 have I been selling scrolls on the AH (thanks to you. i make a lot of money on it now). While I was waiting for Random Heroic Queues I would go out and grind rep for for twink enchants. I am currently around 80% of all enchants in the game and I have noticed a few things.
I bought the recipe Enchant Weapon – Spellpower off the AH (+30sp to any weapon, drops off MC bosses). I paid 5k for it, and it took, maybe 1 month or less to make that money back, good scroll to have since its the best enchant for quite a few twink heirloom weapons. In fact, most of the heirloom enchants (like +15 agi) are very good sellers.
I look forward to hearing how well enchanting stacks up to other trade skills!
sounds great! ill be looking forward to reading the weekly report, I am going to be getting back into enchant soon aswell i hope. Just need more recipies.
.-= anaalius´s last blog ..Experimenting with glyphs =-.
For the longest time I have heard that Enchanting is a wonderful profession, and it does rack in a lot of Gold. I would love to see your progress, and money made from Enchanting, but I want to take a dip in it myself. Even at 150% market price of Abyss Crystals, scrolls seem to always sell at a profit. I currently am an Alchemist on my main, mostly for the transmute ( my main Alchemist is Elixir Mastery, which I love ), and the free unlimited Flask. But, Enchanting looks very appealing to me, especially with its Ring Enchants, and its profit. What do you think about taking Enchanting instead of Alchemy?