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Making Money in Middle Earth
By Thaingrim Stonefoot
Cue: Pet Shop Boys, “Opportunities”
Hail, fellow travellers of Middle Earth! It has occurred to me that, while some are doing well financially, others struggle. To that end, I wanted to write down a few suggestions regarding how to make coin in game to the benefit of all.
Contents |
Section 1: How rich do you want to be?
One need not be terribly rich in this game. The actual costs for the character are not tremendous. A house is optional, and most people do not buy it until late in their character’s life. A horse is a tremendous boon, and at 4.2 gold is the biggest investment you will ever make, but if you are reasonably careful with your money, you should have no trouble paying for the horse, the house, and much more. This is particularly true because our kin provides some financial support to new characters when they buy a house or horse and is full of craftsmen and women who are willing to make you whatever you need for – at most – the mats needed.
So why worry about money? Well, it depends on what you want from the game. Perhaps because I am a lowly history professor in real life, the idea of having a wealthy dwarf lord for my main appealed to me. That is, I liked the idea of a character who had a lot of coin. I also liked being in a position to be generous with the kin and give back as much as it gave me. Having a decent stack of gold in the bank allows me to do that and to finance non-necessary quirks like a second, “prestige” horse, and such.
So do you need to worry about money? Not really. The game is made to be friendly to a variety of player styles. That being said, as in real life, there are advantages to having a stack of coin. There are also costs: From where I stand, the difference between 50 gold in the bank and 100 gold in the bank is pretty marginal… There isn’t that much to buy. And time spent making money is time not spent doing other things. So, as in real life, you need to find a good balance.
Section 2: The Auction House (AH)
The auction house is LOTRO’s little nod to the real world of sharp elbows and hard knocks. It is, more or less, a capitalist system, where supply and demand (along with greed and varying levels of knowledge) determine the value of items. It is where you sell things you have crafted or don’t need and buy items you do.
A few basic points:
1. There is a cost to posting on the AH, so be careful about posting at the minimum level or reposting frequently. I notice people putting stuff on the AH for their vendor cost. Don’t do this, you are losing money.
2. Generally, it is a good idea to sell stuff with a buyout price listed. Many people want the item immediately and are willing to pay a premium to do so.
3. In general, non-crit crafted goods don’t sell well; however, they sometimes sell well at low levels.
4. When buying on the AH, decide whether the item is really worth the cost: can you supply mats to a kinsperson to craft for you? Will you out-level it quickly? Will you be able to get something better through quest completion? Is the boost you will receive from the item really going to make a significant difference in your character’s effectiveness? More often than not, after asking these questions, you won’t bother buying the item on the AH.
5. Watch out for tricks! Just like the real market (see, Bernard Madoff), not all on the AH is worth the cost. I routinely see items (like quivers) that can be purchased from a vendor for 17 silver being sold on the AH for 140 silver. Let the buyer beware.
6. When crafting items for the AH, it is a good idea to watch the market carefully.
a. At one time, the market was very much oriented to high end gear. Since Moria, that has become less true, since the crafted tier six stuff is currently less impressive than the items that you get from completing quests. Later updates may change this once again.
b. As a corollary to this, often the best money is to be made in tiers two and three. Players have enough coin to spend on luxuries by this time, but may not have joined a kin which will provide for their needs yet. I make virtually all my money at this level.
c. Before you craft, look at the market and see what is available. Try to fill needs in the market that have not been fulfilled. If there are no crit halberds available, making one may be a good idea. Similarly if somebody has dumped twenty crit two-handed axes on the AH, don’t make more.
d. Don’t dump items on the market. Make one or two of each item you want to sell, sell them, and repeat. If you flood the market, the value will decline and you will not make money.
e. Undercut, slightly. Selling a little bit cheaper than your competitors is the way to get your stuff to sell (see, Walmart). This is especially effective if you put a buyout price slightly lower than your competitor’s . On the other hand, don’t undercut yourself with giveaway prices. You have invested time in gathering materials and in crafting. That is worth something.
f. Experience pays, if you pay attention. If an item never sells, don’t make more of it. Vendor it, eat the loss and move on. If it isn’t going to sell, you will only lose money by repeatedly putting it on the AH.
g. Pay attention to game population patterns. Post your auctions on Friday so that you can be bought by the weekend rush. Alternatively, buy your auctions on Monday, when the weekend warriors have all posted their materials and items. You can also make a mint by posting right before welcome back weekend, when there will be a sudden influx of players.
Section 3: Grinding silver.
You can make fair coin in a hurry without ever raiding an ore node or crafting a product. Killing animals and sell their hides on the AH (anything medium or above gets decent coin), killing stuff for in-demand crafting items (generally anything rare, or anything used for armour), killing stuff for scholar mats (undead), in short grinding deeds and doing quests can net you fair coin if you sell the trash to vendors and sell the valuable crafting mats on the AH. In general, crafting materials sell (though not always), in general dropped armour, weapons, and such do not and should be sold to a vendor.
Perhaps the easiest way to grind silver:
1. Find grey undead mobs of as high a level as you can manage to kill swiftly and in great numbers (e.g. in an area of high density).
2. Spend an hour or two killing them, tossing any non-stackable items, along with pots and such.
3. Go to a vendor and sell any non-craft items.
4. Sell craft items on the AH
That’s it. I timed my forty-something hunter against thirtyish undead mobs and he netted 700 silver per hour from the vendor trash alone. It is boring. But you can gather enough cash to buy a house in an afternoon. After you get your house and your horse, I wouldn't spend any time grinding silver unless you are grinding deeds at the same time. By end game, simply questing will net you sums of money that seem unimaginable at level 12.
Mining resources, is however, also a good way to make money and, in particular, you can make a lot of money at relatively low levels by mining silver (tier 2) or dwarf-iron (tier 4). Indeed, as of this writing, silver ore remains one of the most valuable resources in Middle Earth and can be harvested by level 14 characters!
Section 4: Crafting
I have not played other games, but apparently, there are games where crafting is really a necessary part of the game. It is not that way here. In fact, many people lose money on crafting rather than gaining it. Not all crafts are equally profitable. And, because the game is evolving, what is profitable today may not be profitable tomorrow.
Non-Author Addendum: It's important to note that the best crafted relics for your Legendary Items can only be obtained via crafting and are bind on acquire (requiring your character to be a supreme master crafter (of any type) and kindred with that craft's guild). It's also important to note that at the time of this addition (4/23/10), 2nd age level 65 Legendary Items can only be crafted, and cannot be found in loot (crafting these with intent to sell is not profitable - let someone come to you to have it made).
Particularly at low levels, the recipes gotten from drops or off the AH are better than the ones you get from the vendor. These slightly improved recipes will often sell for a somewhat higher value, even when non-crit. They also cost slightly more to make. I almost always buy these recipes off the AH and use them to level my character. I generally will make a profit doing so.
In general, if you are concerned about money or you are a very new player, you are always better off having an explorer and simply gathering mats to sell to others than trying to craft for yourself. More money has been spent on crafting than has been earned.
Crafting, however, can be a lot of fun, adding another level of complexity to the game. It is also a great way to support your kinship. And sometimes you can make money from it. The most important thing is not to level up by buying stuff off the AH. Gather it yourself. And in choosing your first craft, choose one that is not overly dependant on another craft.
As stated in the section on AH, the market evolves with the game, there is no one secret to making money through crafting. Currently, I am making lots with one character and virtually none with another. That may change with the next update.
Some useful crafting links
Recipes, including crit items (not all crafts are complete): http://www.lotroalliance.com/recipes.php (general websites have this information too).
Cooking prices: https://spreadsheets.google.com/ccc?key=pUknh7YDbYrXRrr1XcprwCA&hl=en
This one is invaluable: wondering what is available for tier six jewelry? Wondering what the new armour will look like? Wondering how many ingots to send to your favorite crafter for that new piece of armour: click here: http://www.northshield.co.uk/LOTRO/Armour.htm
Shard farming: http://www.lotro-rares.com/
Finding flakes:
http://www.gamerlounge.co.uk/forum/viewtopic.php?f=16&t=83
http://www.eventide.antarat.com/forum/viewtopic.php?t=168
http://forums.lotro.com/showthread.php?t=292074&highlight=flake+droppers
Another great money guide: http://forums.lotro.com/showthread.php?t=328799
