Saturday, May 8, 2010

Rituals of the Cash Cow

Rituals of the New Moon
Binds when equipped
Held In Off-hand
+37 Stamina
Requires Level 70
Item Level 159
Equip: Improves hit rating by 25
Equip: Improves critical strike rating by 36
Use: Transform into a giant black wolf. (10 Min Cool down)

This is an extremely unique item and to a gold savvy goblin unique=opportunity=gold in my pocket.


I remember in vanilla WoW that the easiest way to make money quick was to go farm either a reputation or a rare drop for a recipe that very few people had. Timbermaw exalted reputation recipes or that damn fire resistance elixir recipe from LBRS are great examples. NO ONE wanted to put in the effort to get the effort to get these recipes. Therefore those that did have these were minting their own gold.

In Wrath of the Lich King we have virtually no reputation or farmable recipes. The only recipe in inscription that needs to be farmed is [Rituals of the New Moon]. It is an offhand item that has decent stats for a fresh 70 and it has a unique "on use" effect that turns you into a wolf.

Not many people know about this item for a few reasons.
1.It is not learned from a trainer or a boe recipe on the AH.
2.People at lvl 70 are leveling and really only care about gear they can get from leveling since that gear will be replaced soon anyway.
3.Being that it is an offhand item most mele would rather have a weapon in that hand and most casters don't really need the hit stat that is on it. Especially before they hit 80. Its not an item that is drool-worthy of anyone for its stats alone.
4.The recipe only drops for scribes in a specific area. No non scribe will ever see this item other than when it is for sale from a scribe on the AH or in trade chat.

People just don't go looking for this item. Those that do see it usually dismiss it because it is so mismatched to what is needed on this type of gear (off hand item that is not a weapon) that they usually look elsewhere before they see the "on use" that turns you into a wolf.

So why is this thing such a cash cow?

Its because so many people overlook it that gives us an opportunity. If few people know about it then even fewer are selling it. On my server there are exactly 2 other people who ever sell this on the AH. They really never make sales and I will explain why later.

Do people want it?

Yes, they just don't know that its there. The item is cool for one simple fact. It turns you into a wolf. You can do any of the wolf emotes and a few non combat things like eat with the costume on. Its a purely fun item. Hunters love it because they can have a wolf pet out and wear the wolf costume at the same time. Add wolf pup non combat pet and you are your own wolf pack.

Lets get down to the numbers. Remember, we only care if this item can make us a profit. Here are the mats and the average AH price for my server.

Ink of the Sea (5) - 2g each = 10g
Resilient Parchment (10) - 50s each = 5g
Eternal Shadow (3) - 6g each = 18g
Total cost to make = 32g

What is the fair* market value for the finished product? I truly have no idea. Since really no one goes through the trouble to make these its up in the air. You know what the cost is so price it at 33g or more and you will make a profit. But why think small. If you are making this you have a virtual monopoly on the item. I price mine at 189g each. That's over 150g profit on each one. Will they sell at a higher price? Probably. I wouldn't be surprised to see it sell for 250g each.

There is one more kicker with this item and the main reason almost no one puts in the effort to get the recipe or make the item. People don't buy this item just browsing the AH. If you make one and put it up it will never sell UNLESS you advertise or "bark" in trade. This is the key to making this item sell. It's so important I'll say it again.

You must advertise in the trade channel to get this item sold.

Now you can have them on the AH and direct people to them but you must do it, and furthermore you must do it in a way that lets them know why they want it. To become a wolf of course. Be witty be fun, and make sure to link the item in your trade barking. Make them know that its a fun item they want and they will buy it. Make sure to also let them know there are 4 colors of wolf to choose from. Some people will even buy all 4 just to be able to change to different colors of wolf. There is red, black, white, or grey

A few examples
[Rituals of the New Moon] ON THE AH NOW. Twilight fans, don't be team Edward, support team Jacob by turning yourself into a wolf! [Rituals of the New Moon] 4 COLORS TO CHOOSE FROM.

FOR SALE [Rituals of the New Moon] Hate playing a hunter but always wanted a pet? Be your own pet! Become one of 4 colors of wolf with your very own [Rituals of the New Moon]

Now, you may get some competition but if they are not barking in trade they will never sell an item. What they will usually be thinking is that your barking will sell the items for them. Like I said before I have 2 people who try to undercut me when I bark in trade a lot. How I combat this is that before I ever say a word in chat I go and make sure that I have undercut all my competition. I have literally seen one of my competitors put up a book and leave it there on 48 hr auctions for 2 weeks straight with no sales because I always had a cheaper one.


*(fair market price is defined as: the price at which the item will sell on a consistent basis.) It doesn't matter what you think it is worth, It only matters what the people will buy it for time and time again

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