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Dealing with market collapseFollow

#1 Apr 04 2011 at 10:57 AM Rating: Good
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On the server I mostly play on the rare gem market seems to be in a state of collapse with the prices for cut red gems having dropped by a good third over this weekend. Cut blues are hovering around 10 gold and won't sell even then. I believe that the issue is a lack of gem slots, but with 4.2 still a good ways away I'm left with the impression that this simply isn't a market worth being in at the moment. This has left me wondering how people go about looking for an unfilled market niche to fill.
#2 Apr 04 2011 at 11:29 AM Rating: Excellent
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I'm seeing a very similar situation on my server (hell, it might be the same server) - cut inferno rubies had been holding steady at about 100g, now down below 70g. Also raw amberjewels and sapphires hovering near vendor price, cuts in the low teens if they sell at all. Hessonite barely above the 9g (cut) vendor price, zephyrite at it, and alicite under (as low as 6g!).

I blame either a farming consortium, or more likely a bot wave, that drove both Elementium and Obsidium down to - and often below - the prospecting "vendor" price (i.e. the expected value of just cutting and vendoring everything you prospect - 54g for Obsidium, 36g for Elementium).

For now, I've given up transmuting, even carnelians. I'm stokpiling most rares in hopes of a recovery either through 4.1 or rising ore prices. Elementium is almost certainly better for creating bars rather than melting into gems. Crafted jewelry still is selling, but the rare gems (and half stack of Elementium) were never a major component, and it's not exactly high-volume.
#3 Apr 04 2011 at 12:05 PM Rating: Excellent
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This past weekend I made between 500 and 1K gold (haven't logged in to get the final tally yet) just by auctioning low level beneficial stat drops. I got 12 gold for a level 7 of the monkey sword... not sure why my characters hit 20 before I realize it the leveling is so streamlined. Got 30 gold per stack for linen cloth, 40 gold per stack for wool, I had a pretty good collection of various armor types with beneficial stats that I'd intended to use for my alts as I leveled but quest rewards has seen them through most of it. Still people buy the "good" items, even chest and shoulders slots that previously weren't selling because of the whole BoA items....

#4 Apr 04 2011 at 12:10 PM Rating: Good
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100g for a cut red gem? I haven't seen prices over 60g much.
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#5 Apr 04 2011 at 9:21 PM Rating: Good
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Selling the JC daily gems is more lucrative than the blue gem market on my server.
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#6 Apr 05 2011 at 12:16 PM Rating: Excellent
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Horsemouth wrote:
Selling the JC daily gems is more lucrative than the blue gem market on my server.

It used to be on mine, but even the daily doesn't budge zephyrite above 10g, jasper might move from 12g to 15g or so (thus not worth risking the AH deposit), and everyone and her brother is racing to undercut nightstone to get rid of their stock on hand.

And with literally all the obsidium ore on the AH under the prospecting vendor price of 56g - with at least 1300 sold in the last 24 hours according to the Undermine Journal - I expect it to stay that way.
#7 Apr 06 2011 at 9:59 AM Rating: Good
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It looks like at least part of what I was freaking out about was the usual weekend dip in prices, though the market isn't quite back to where it was last Wednesday. Still the cut gem market appears to be flooded and it seems time to move on. The Undermine Journal does seem like a really neat tool to explore the market place with. I'm half tempted to try and crash the Mana pot market on my server and get the prices down to where I can make them profitably buying mats yet still sell them, right now the mats are about half the cost of the pots and my two stacks that went up Monday are still there :(
#8 Apr 06 2011 at 10:58 AM Rating: Good
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This is why I deal directly with the crafters. I take none of the investment risk and sell merely raw product.
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#9 Apr 06 2011 at 2:21 PM Rating: Good
I deal in raw materials. I have been leveling my hunter some, primarily by herbing / mining. I buy greens to de, and buy for resale most enchanting mats, leather, herbs, and bars.

I could craft epics and 26 slot bags, but I prefer to have pages of mats up for auction, rather than competing to sell high ticket items. I'll craft the good stuff for myself and guildies. I'm still making enough to buy what ever I set my sights on.
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