Three years later, I still see many new players struggling to make much WoW gold. I want to share a few tips that will help you guys get started.
I still remember vividly my first time entering Stormwind City on my level 10 human rogue. I remember entering the Auction House for the first time, drooling over a 90g dagger when I had 14 silvers in my pocket. I was one poor rogue, but I was thinking big things, the simple idea of buying low and selling high arose in my head.
This idea sounded good on paper, but how do I know which items to buy at which prices? I didn't know. I was never sure if gold could be made from the items that I bought.
What I did to save time was I made a level 1 alt who basically sat in Stormwind. Before and after every play session, I would logon to this alt and spend around 5-10 minutes checking out the Auction House.
As time went by, my brain became more familiar with the items, I was remembering item prices and I was profiting a lot faster. When my main character turned level 40, my alt had turned 30 silvers into more than 100 gold.
To avoid high deposit fees, I avoided purchasing armor and weapons on the Auction House.
Shards and Dusts were my ideal target because they are in high demand and they require NO deposit fees.
Later, I found out about addons like Auctioneer which actually sorts out the items that are potentially profitable. Aside from the occasional UI glitch, this addon was a total lifesaver.
Costly mistakes were made during those times, I remember purchasing items that became obsolete right before the Burning Crusade, I lost some gold there but at the end of the day, the gold that I made far outweighs any loses.
There are always risks involved when bidding in the Auction House, but in order to make the big profits, there will always be some risk.