23 August 2010

Buying truckloads of cheap gems

When Cata hits, Northrend Epic gems will end up where BC epic gems are now - worth a few gold for levelling purposes. That's OK. We still have months to go for Cata.

I have noticed a 20g drop in gem prices lately, but I saw an interesting offer in trade. WTS Cardinal Ruby 1k/stack, Ametrine 800g/stack; Dreadstone 800g/stack. This is much cheaper than recent prices. The (level 1) seller had a *lot* to sell. He was quiet, but did seem to speak some English. With the gems and quantity he sold, I suspect a battleground farmer.

This is significantly cheaper than I bought my existing stockpile for. That cost is 'sunk', and I have written off the difference as the new reality. I bought the lot.

I will be selling these gems off, cut or uncut, but I am unsure if I will be buying many more gems. With out me buying (and some weeks I will buy a hundred or more), there will be more gems available on the market and that will drive the market price down.

I know that Epic gems will devalue between now and Cata, with the only question being when. On Caelestrasz, it looks like that devaluing may be starting now.

Anyone want to buy some bargain priced gems?

9 comments:

  1. BG farmer? You have GOT to be kidding right?

    Obviously this was a hacked account and someone was selling off everything.

    This is probably the only reason I'm still in /2 when I'm not trying to move high value items. There is so much money to be made from buying stuff off a hacked account so keeping an eye out for them can be very profitable.

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  2. Ummm. All he was selling was gems. I dont dispute the posiblity of a hacked account, but even then, why only sell 3 colours of gem?

    No single hacked account has that many gems. The AH simply doesnt move that many.

    I bought them because I didnt want someone else to be selling them.

    Does anyone know of honour / instance farming bots? I assume they exist.

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  3. Yup, there is a bot called Honor Buddy/Gather Buddy.

    ReplyDelete
  4. I recently had this happen on my server as wel.
    I ended up buying 500 cardinal rubies, about 200 Ametrines and 100 is Dreadstones.

    By the end of the week, I've sold everything at 20-30g Higher than normally bought. I sold them off quickly because I KNEW the market was going to be flooded and I wanted to liquidate the stock as fats as possible.

    ReplyDelete
  5. I love reading your blog, Im also on Caelestrasz
    but on horde :(

    Otherwise id be willing to buy gems and run dungeons/raids with you.

    ReplyDelete
  6. Had same situation - bought 400gems for 20k and sold them all for 30k few mins later.
    Next day - 3day account ban for 'Exploiting the economy'.
    All up to you , my gems might have been hacked or stolen not farmed at bg ;(

    ReplyDelete
  7. @NakedJay : Thanks (I think). I dont know whether to be informed, relieved or concerned.

    @Mageshadow. I bought a lot of gems. That particluar seller had none left. As long as no one else dumps a lot more, I will be OK. But yes, I will be dropping the prices on the gems that I bought

    @Anty. You are only a faction change away :). If you want, I would be happy to trade gems via the neutral auction house. Roll a lvl 1 alliance toon and whisper/mail notfoo.

    @Plh. I 'exploit' the economy every day. I run a 3g90 wall of glyphs. I buy and sell every type of epic gem. I consider a potential ban for this is a sovereign risk. I doubt I will flood the market by reselling everything at once, as that is not my style. However there were enough cheap gems to depress the markets for some time to come.

    @All. It's great to have this feedback. Thanks

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  8. I'm buying gems as I need to replace stock. As mentioned, Cat is several months away, but more people are trading emblems for gems, thus driving the price down. Likewise, I think fewer people are playing which reduces demand. More supply and less demand = lower prices. As long as I can keep my profit margin about the same, I'm OK for now.

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  9. Wow just a little over a week ago the same thing happened to me guy hops in trade channel and starts selling cardinal ruby's 1200 a stack and ametrines for 800g a stack. I bought 10 stacks of each and been selling them on average on my server 120 a piece for both colors cut uncut is 100g each. So yea it is a battleground hacker for sure only gems and he was still selling them after I bought 20 stacks of epic gems. The other person who bought the rest of the gems bombed the alliance market had no affect on me since I moved them to my horde side and selling quite nicely.

    ReplyDelete

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