Market Idea for Jewelcrafters

I had originally planned to do an Archaeology post today (still in the queue, no worries) but I felt this information was timely enough to trump it. I did a little experiment yesterday with Jewelcrafting. I had stockpiled enough tokens for a new recipe and was not relishing the idea of buying yet another gem cut that was being driven into the dirt. It occurred to me that jewelry might be a better direction to go since I didn't think anyone was making the new stuff yet.

I did some research and saw that no one on my server was making level 85 jewelry, at least none was being posted on the auction. Then I ran some numbers with Lootrank and saw that much of the crafted jewelry is equivalent to heroic drops. Since players are having trouble running heroics right now, some comparable items for sale might be quite appealing to folks who want to gear up for raids. I did some additional profiles with Lootrank for various melee/agi-based classes and selected the Band of Blades as an appealing choice for DPS classes.

It is not cheap to make these items, you need 4 Chimera's Eye and 75 volatiles. In the case of this ring, volatile air. The mats for this ring easily run 5000 gold on my realm. I was very tempted to pick a different ring with easier volatiles, but in the end I decided that the horrible volatiles were a point in my favor. I'm hoping it will decrease my competition because less players will be willing to gamble their volatile air, if they even have any! Because I had used all my tokens to buy the recipe, I purchased the Chimera's Eye from the auction house. I also purchased about half the volatile air at market rates because I'd been selling mine. So I dumped a lot of money into this ring and I was pretty nervous that it might not sell.

Luckily my theory paid off and the ring sold the next evening during peak hours. I was pretty happy when I did a quick search after dinner and saw that my ring was gone. Here's the funny part: I found out later from my daughter that her friends had been eyeing my ring! She's been running heroics with a group of what I consider elite-minded players. Apparently one of them spotted the ring and wanted to buy it, but a couple of others talked him out of it because the stats weren't optimal for his toon. Then they mentioned it in guild and a rogue expressed interest in it as well! So clearly my ring was attracting attention :) Which was exactly what I was banking on.

The ring sold for 9999 gold. I might have been able to get more for it, but I wanted to make sure it was a price that was reasonably appealing. I checked Undermine Journal last week and someone else had sold a similar ring for about 12k (different stats, but also crafted). I wish their site was still up so we could continue doing research with their price data, but you'll just have to rely on your auction house for information about competitors.

If you're looking to get out of the cutthroat world of cut gems, I believe this is a reasonable alternative. Because of the Chimera's Eye requirement, it's unlikely that horrific price wars will erupt. The daily quest mechanism should limit the availability of Chimera's Eyes for a good period of time. On top of that, you have a high volatile requirement, which I suspect will keep more casual jewelcrafters away from these items.

If you decide to give it a go, come back share your experience with our readers so we can see how the market plays out!

24 comments:

  1. Kaliope - you rock! I've been saving my tokens for the last four days to grab a ring recipe for my JC, who is a rogue trying to gear for heroics.

    It's awesome to know that I can make some cash back on this design. I get the fifth token when the daily resets tomorrow - I'll let you know how it shakes out.

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  2. Wow, you're a very brave person.
    I was eyeing those recipes too, but I didn't have the courage to take them, considering the rings from Therazane reputation were of the same ilvl (but still, one needs two rings, not just one)... I think I'll try it out soon!

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  3. Thanks fellas =) I was sweating this one pretty good, but since my JC is a rogue too I decided to go for it. This ring is actually the BiS pre-raid ring for rogues and hunters, so I wasn't too worried about competing items. Worst case scenario was I'd be out a bunch of gold but I'd have a nice recipe for my rogue, my hunter and Kaliope's kitty set.

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  4. Which would also not make it BiS for Enhancement Shamans! Not a huge group of players, but still a bit more demand for the ring.

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  5. Yeah, I checked shammies/pallies/warriors and it was not BiS for them. It's pretty good for dps warriors but not worth much to shammy/pally peeps. There are other crafted rings that are better for other classes. I believe the Elementium Destroyer's ring has better shaman stats. Rogues don't really care for mastery, so that ring is kinda crap-tastic for them ;)

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  6. I'm going to give this a try. It will be much less work than reposting after being undercut all day long.

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  7. Kaliope - where's the best place to farm Volatile Air?

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  8. Well, I hear that Twilight Highlands (SW corner) is decent. Some folks recommend Vortex Pinnacle for drops. Personally, I plan to transmute them with my Alchemist. I don't think any drop rate compares with that :)

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  9. For ego reasons, there is something to be said for getting most of the cuts, eventually.

    And I like the idea of jewelry; but obviously if the rings were 359 epics, they would go for an extra 10k.

    But wouldn't the short-term solution be to get and sell chimeras?
    I.e., at some point JCs have all the patterns that they will want.
    So at that time any dailies will go for chimeras.

    The computation seems to be

    I can get a cut today.
    or
    I can get a ring
    or
    I can get and sell 4 chimera (4x500=2000g) or 5 and get the same design 4 or 5 days later

    The question is can I make 2500 from the rings in the next 5 days? If not, then I should get chimeras today and ring design in 5 days. The Warring element ring were listed (not selling ofc) for 10000 yesterday. Today, there are two rings in the AH for 5000g; the mats are about 4000. So selling 3 in the next 5 days is better than getting and selling 5 chimera today but two would not be.

    OTOH, the cheapest inferno ruby is selling for 110g and the cheapest delicate IR is selling for 111g so that is not the path to richest ATM.

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  10. To my mind the main reason to switch to jewelry now is to satisfy the population's need for gearing up, which won't last all that long. Once the fervor dies down then JCs can focus on collecting all the various gem recipes, but right now those are poor performers.

    Certainly selling Chimera gems is a low-effort solution, although you can only sell those to the 10-15% of the playerbase who also has the JC profession. Selling rings allows you to tap into a larger pool of buyers. Also, Chimeras can be had for 300-400g on my realm, 500 is the high end.

    I think anyone considering this needs to do their homework and see what's going on with their realm. If they can't make a better profit on rings/necklaces than raw Chimeras, clearly selling Chimeras is the best choice. Right now my realm is showing almost no competition in crafted jewelry, so it's a viable option for me. Plus I just like the idea of depriving rich, raiding fat-cats of their gold .

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  11. thank you so much kaliope!

    i am leveling my hunter, and my bear/kitty
    and i have been looking for a recipe that i might be able to make some gold on, combine that with my glut of life on my lock and druid, i should be set!

    Thank you once again for all your hard work, and risky market choices! :D

    MERRY CHRISTMAS!

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  12. great post as usual although there is a unintentionally filthy double entendre in the middle of it. :)

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  13. No one interested in my sale of Band of Blades is this just a spurious post

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  14. What a waste of time.....
    If you are going to suggest a method to sell rings at least get a ring people agree is worth selling after you recomend we WASTE using our JC tokens.

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  15. Tony: It sounds like this type of speculation is not for you. If the idea of wasting materials on a ring is outside your comfort zone, there's no reason to go this route. I did present it as an alternative to the gem market for those looking for items with less competition.

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  16. Hello Kaliope,

    In your research of the jewelery available for JC tokens did you see any others that would be best in slot for their respective uses? I was thinking about getting one or two of these designs as well and was looking at the tanking ones. How do those or the others measure up? Not seeing anything but negative comments on their costs, which doesn't concern me if they seem worth investing in.

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  17. For tanks the rings are kind of a mixed bag, presumably because they all have slightly different stats they value. The Band of Blades is showing as BiS pre-raid for paladins, but only #4 for bears/DKs/warriors. The Elementium Mobius Band is the best overall choice, at #2 for warriors & DKs, #3 for paladins, but ranked #11 for bears. The Elementium Destroyer is #1 for bears and #2 for paladins, but is pretty bad for warriors & DKs.

    Rings for healers are worse, there's only one that even shows up in the lists: Ring of Warring Elements. It's ranked at #7 for druids, #8 for priests, and #4 for paladins and shamans. Healers have two other rings they can pick up - one for Revered rep with Therazane and another world drop BoE that would make it difficulty to sell a lackluster crafted option. I'd be inclined to skip the healer rings, odds are that most healers will get dragged through enough heroics that they'll pick up a ring and collect the rep needed for the Therazane as well.

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  18. Chimera's eyes are of interest not only to other jewelcrafters, but to people who will buy the eyes to have a guildy/friend/whoever craft them the JC jewelery.

    I did the same from the start: on my 2 JCers I first bought 2 meta designs, sold about 100 for 550-850 each. I stopped now, since prices fell to 350-400.

    Next I bought the agi ring and agi neck, they both sell every3 days maybe. It is a big risk, especially since volatile air on itself is a 101% sure sell.

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  19. I haven't purchased too many recipes yet, but I have two Jewelers. I've maxed out on one, and working on the other. So far between the two, I've bought Chaotic and Fleet metas, and the Delicate Inferno/Chimera cuts. The rest of my tokens I used to buy Chimera's Eyes and put all but three on the AH, and they're selling upwards of 300g each. 300g for one daily? Yes please!

    Once I do start buying more gem cuts, I don't plan on flooding the market with those cuts. I'll only post 2 or 3 at a time, and list them for 12 hours to avoid large lost deposits. This is the same strategy I implemented in Wrath, and I made quite a killing with JC.

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  20. Yeah I love people who think like that. "300G for 1 daily whooohooo". I've been buying those Chimera Eyes for up to 400G, have people mailing me them C.o.D. and have sold 4x Band of Blades for 11.5K over the last 7 days.

    Meanwhile the strength based tanking ring has crashed to 5.5K due to 2 guys who just won't play nice with each other.

    Gotta love A.H. PvP.

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  21. I tried my luck with Band of Blades and sure enough, after one repost I had sold my first one. 6500g for a profit of a little over 2000g. I didn't even annouce it in trade the 2nd time around. Got another one up now, managed to get a hold of the Chimera's Eyes for 240g a piece, should bump the profit up by another 800g or so!

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  22. I'm so glad this idea is working out for some of you! I have to admit that this strategy requires a good bit of bravery (to invest several thousand gold into crafting an item) and some market savvy. You have to watch the auctions on your realm and see who else is selling JC jewelry. Choose your recipe carefully based on what other JCs are selling - don't buy a recipe that already has several other sellers. Also be sure the recipe you pick has strong appeal to at least one and hopefully multiple classes.

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  23. I have been looking for info on these crafted rings for a while now. On one cataclysm beta post it alludes that some crafted jc pieces may proc as rare or epic quallity. Have you or anyone you know seen any of the I level 346 blues proc as I level 359 epics the way that the green jewelery can proc as blues?

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  24. Anon: As far as I know, the only recipes that can proc a rare version are the recipes in your spellbook. This includes the Nightstone Choker, Hessonite Band, Jasper Ring & Alicite Pendant. I haven't seen an epic proc off a rare pattern in my own crafting or on the AH from other sellers. I would say this situation is quite unlikely since the rare jewelry recipes don't match the pattern of the proc recipes. I definitely wouldn't buy a rare recipe on the hopes that it might proc epic for you.

    If this were a possibility I think we would have heard solid information by now. Think how quickly word got out about the Vial of the Sands, supposedly a "rare" and hard-to-find pattern.

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