Diablo® III

How does everyone make so much gold?

I just started playing again (I stopped about 3 months after release) and I'm trying to level up my Wizard. I'm only level 40 right now, and I want to upgrade some of my gear, but the AH is super expensive for me because I only have < ~500k gold.

I don't understand how everyone has millions and billions of gold. Can anyone help me out?

While leveling, I'm never sure if any of the stats on items are "good" because I don't know which stats people are willing to pay for. Again, I just started playing again this week, after not having played for over a year, so don't hate on me too much. I've tried googling some guides, but all that shows up are articles regarding the big gold dupe that happened.

Anyone want to help a nub?
<3
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See this: http://us.battle.net/d3/en/forum/topic/8178677899

Until 60, your budget and farming doesn't matter most. Until 60, what sells is Int + Vit and some level-reduction gear you only get when you are at 60. So don't bother it by now. Get your char to 60, and start playing. :)
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Buy low, sell high.
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MVP - Diablo III (Wizard)
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1) Use credit card, buy gold
2) Flip items: Buy low on GAH...sell high on GAH or RMAH.
3) Farm gold: http://us.battle.net/d3/en/forum/topic/8178677899
4) Farm the game for good items, and sell in AH.

You'll find a mix of all of these types of people in the game. After you get to 60 and start buying gear you will naturally start to flip the things you outgrow in order to get better ones. Eventually, you'll start to notice underpriced ones....so, its an opportunity to buy low, and sell high. Just get to know a few items that you will always be using,....Tal's chest, Witching hour, gloves, etc...you'll recognize the good deals and can buy low/sell high. Then you start to do this, instead of actually playing the game, lol! It's called, "Farming the AH"

Other people don't have time for this (jobs, real life, etc) and would rather put some actual $$ into the game so that they are not struggling as much getting good gear. In other words, its more fun to get good gear and play the game even though it'll cost a little more $ up front.

Unfortunately, option #4 is a pretty bad one. There just aren't that many good drops to make a living off of. The best drop I got was a pair of Ice Climbers that I sold for 80M. My ring costs $50 (or ~2.2B gold). So, you do the math. Selling drops wont get you too far.

Hope this helps.
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Also, since I'm still leveling, should I worry about monster power at all? Or should I just ignore that until I'm 60?
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get someone to power level you
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since you are leveling, just get to 44, then spend that 500k gold on buying a 2 hander weapon with -16 level req.

your DPS will go up by a huge giant amount and you will be able to sprint your way to 60.

From there, yeah it is buy gold or grind, then give up and buy gold

In the good ole days before hyper inflation, it was possible to play endgame content without buying gold, but unless you did that early on, you are stuck with at least a 60 dollar price tag on playing MP10.
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Questing on higher MPs is not much better. Whenever you're like 5 levels above the mobs you get practically no XP, so switching to a higher MP basically gives you a a few levels quickly, and then you drop back to the standard rate. Normal, Nightmare and Hell aren't that hard, you don't need the 5 extra levels anyway, and Inferno is that hard (for a new player), so you won't be able to handle high MPs.

As for inflation: no.

For low to mid tier gear, there is no inflation. If anything there's deflation: there is no significant influx of players, but the number of low end items is growing because everyone keeps finding them. Veteran players don't buy low end gear, so there's high supply and low demand. High school economics fills in the rest.

As a result, you can make a pretty good MP5 character with only 50m gold, which would be something like $1.50, if you wanted to use real money. Hell, even just 1m gold is enough for MP1 farming with an Archon build. 1m is about what you'll just pick up naturally on the way to level 60. That is, if you don't spent it all on a weapon at level 42-45 that'll become worthless at level 60.

As for high end gear, I've yet to see serious evidence that there is hyperinflation, though that's partly because no one appears to be keeping track of the prices other than by gut feeling. Please, someone prove me wrong, I'm a bit of a math geek and I'd love to see some objective data on this! In any case, high end inflation doesn't affect you at all, if it exists, and it won't for quite some time.
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Thanks for the replies guys.

As a followup: while leveling, is it better to just vendor off all the items I won't use? Or should I salvage them and try to craft some gear and get lucky?
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Questing on higher MPs is not much better. Whenever you're like 5 levels above the mobs you get practically no XP, so switching to a higher MP basically gives you a a few levels quickly, and then you drop back to the standard rate. Normal, Nightmare and Hell aren't that hard, you don't need the 5 extra levels anyway, and Inferno is that hard (for a new player), so you won't be able to handle high MPs.

As for inflation: no.

For low to mid tier gear, there is no inflation. If anything there's deflation: there is no significant influx of players, but the number of low end items is growing because everyone keeps finding them. Veteran players don't buy low end gear, so there's high supply and low demand. High school economics fills in the rest.

As a result, you can make a pretty good MP5 character with only 50m gold, which would be something like $1.50, if you wanted to use real money. Hell, even just 1m gold is enough for MP1 farming with an Archon build. 1m is about what you'll just pick up naturally on the way to level 60. That is, if you don't spent it all on a weapon at level 42-45 that'll become worthless at level 60.

As for high end gear, I've yet to see serious evidence that there is hyperinflation, though that's partly because no one appears to be keeping track of the prices other than by gut feeling. Please, someone prove me wrong, I'm a bit of a math geek and I'd love to see some objective data on this! In any case, high end inflation doesn't affect you at all, if it exists, and it won't for quite some time.


The gold sale cap is all the evidence you need.
In January it fell out at 0.25/million
Now it is 0.0296 per million

Gold was worth approx 8.4x as much in January as compared to the US dollar.
Since items and gold are exchangeable and items vs dollars are exchangable, hyperinflation of diablo gold has indeed happened.

Now at the same time, as time goes by, better and better items are found and the "top tier" of items gets a new standard every few months, so while items with a particular stat may go down in price, this doesn't mean that hyperinflation did not occur.

Compare a relatively constant wealth medium: Radiant Stars.
In january a radiant star emerald was around 2.60
Now they are 0.81

So while gold was worth 8.4x as much in January, gems were only worth 3.2x as much.

This tells us 2 things,
1) gold is not a viable currency (probably because it can be botted easily)
and
2) no matter how you look at the facts, you cannot deny inflation. Even conservatively 320% inflation when looking at gems.
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I agree with Shaggy. I also think there's another great way to uncover the presence of inflation.

Search the ancient Trade Forums. What people are offering for GG gear back then vs. now is also an interesting tidbit of evidence. It matters not that the gear is nowhere close to our definition of "GG" by today's standards...all that matters is that at the time of those sales, people considered them BiS. And the bidding wars speak for themselves. You need so much Gold now...and truth be told, anyone who accepts payment for some GG item in gold is rolling the digital dice...Even if someone (and this is legit true right here ->) did pay 240 Billion for a sword yesterday on the Asian server..at a USD value of over $5,500.00, if that seller accepted gold as payment? They are a fool (hypothetical - I think account gold cap is 99B). Our gold purchasing power may fluctuate, but all the evidence is archived throughout the trading forum to support Shaggy's points. We slowly lose purchasing power in D3 over time..hyper inflation is a very real thing. My $.02 (now only worth $0.015)
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Let's play Wheel of Fortune

_ _ _ _

There's your puzzle. Go go go.

Almost forgot, category is acronym
Edited by ChangBooster#1510 on 8/28/2013 3:15 PM PDT
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R!
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MVP - Diablo III
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Let's play Wheel of Fortune

_ _ _ _

There's your puzzle. Go go go.

Spun $3,500.

F

Spun $5,000.

L

Spun $5,000 again.

P

I'd like to solve the puzzle.

FLAP

That's right, the faster you fly through the game by flapping your Angelic Wings or imaginary wings, the faster you accumulate loot and gold, along with paragon levels for additional gold and magic find stats.

I would like my $13,500 now, please, or is there a bonus round?
________________________________________________
Diablo III MVP | Forever a Wizard
Archon Wizard Video Guide Series:
- http://us.battle.net/d3/en/forum/topic/9572597525
Twitter: @Jaetch
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i have flomaxx collecting for me, anyone who doesnt pay gets hit with some flaming rocks
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you know i never really considered it but teh low level item market on the ah must be dead i'm thinking something like sub 1mill builds. I mean the items needed for anything in that range will simply be brimmed or vendored by the vast majority of us right?

other then the very occasional time where someone doesn't have the patience to sell an item at proper value and just lists it really low to move the damn thing thre would really be nothing much to upgrade with on the ah right?

I dunno help me out i havn't looked at that end of teh market in a long time but i image there is nothing worth getting that you can't simply craft or find dropping in game right?
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If you need help plvlling, add me in-game and I'll give you a hand! Getting to 60 is really important, because then you get to play on inferno with so many different builds. The gold almost comes as a bonus when you're having fun!
Edited by Ridpath#1708 on 8/29/2013 1:42 AM PDT
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The gold sale cap is all the evidence you need.
In January it fell out at 0.25/million
Now it is 0.0296 per million

Gold was worth approx 8.4x as much in January as compared to the US dollar.
Since items and gold are exchangeable and items vs dollars are exchangable, hyperinflation of diablo gold has indeed happened.

Now at the same time, as time goes by, better and better items are found and the "top tier" of items gets a new standard every few months, so while items with a particular stat may go down in price, this doesn't mean that hyperinflation did not occur.

Compare a relatively constant wealth medium: Radiant Stars.
In january a radiant star emerald was around 2.60
Now they are 0.81

So while gold was worth 8.4x as much in January, gems were only worth 3.2x as much.

This tells us 2 things,
1) gold is not a viable currency (probably because it can be botted easily)
and
2) no matter how you look at the facts, you cannot deny inflation. Even conservatively 320% inflation when looking at gems.

See, but that's the thing. No one can deny that the exchange rate between external currencies (dollars, euros) is inflating. I'm sorry if I gave the impression that I did. But the internal economy, the exchange between items and gold, that's been incredibly stable. This is reflected in the changes in exchange rates. Your numbers were incorrect: these were the average exchange rates in January:[1]

1 RS Emerald = $6.86 (RMAH)
1 RS Emerald = 28.5m gold (GAH)
28.5m gold = $7.38 (RMAH)

And this is right now:

1 RS Emerald = $0.64 (RMAH)
1 RS Emerald = 25m gold (GAH)
25m gold = $0.73 (RMAH)

One RS Emerald has cost between 23 and 28m gold for most of 2013.[2] A significant part of that is fixed crafting costs, but removing those from the equation still gets us a range of 8m-13m, with short term fluctuations and long term stabilty. This in turn means that gold is in fact an excellent currency for Diablo 3. If you had 1b gold in January, and 1b today, you would be able to get roughly the same kind of items.

The fact that the dollar value of that gold has dropped in that time is irrelevant if you're just interested in playing the game. This is not a financial market or an investment vehicle to make profit on. This is a game.

If you're really rich though, this does cause a legitimate problem, which I did not recognize when I made my previous post. For the ultra-high end market, gold is not the primary currency, because of the 2b trade limit. Prices are therefore measured in dollars, and since the dollar : gold exchange rate has been dropping for most of Diablo 3's history,[3] I was totally wrong about high end inflation.

[1] Source: http://www.diablohub.com/price-tracker/
[2] Radiant Star Emeralds dropped to as low as 5m gold in October 2012. Whoever bought at those prices would've made a killing come January. (This baffles me, by the way. If anyone has an explanation for this I'd be interested to hear it.)
[3] That said, look at the dollar value of gold since late May: significant fluctuations, sure, much more than for gems. But, again, no discernable trend. Maybe things are stabilizing?
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08/28/2013 03:16 PMPosted by Melkor
R!


What the hell R? R?

08/28/2013 03:25 PMPosted by SteelPhantom
i have flomaxx collecting for me, anyone who doesnt pay gets hit with some flaming rocks


Woke up this morning and Lamar had run off with all my rocks! he had wiiinnnnnnnggggssss!!! (Biggums energy drink)

08/28/2013 03:17 PMPosted by Jaetch
I would like my $13,500 now, please, or is there a bonus round?


Wow, 13,500 in 3? My grandparents spirits are restless in disbelief!
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Fascinating post...I'ma comment on this later when I have more time.
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