Or…can you get banned for buying Diablo 3 gold on the black market?
As I wrote about a couple of weeks, gold selling is live on the RMAH. That being said, just because it is live, doesn’t mean it is seeing any action. I have been selling some gold on the EU RMAH, but it is very hit and miss. It is a bit better on the US RMAH, seeing as Blizzard in their infinite wisdom has set a minimum price of gold at 2.5$ per million gold and 2.5 EUR per million. Currently the EURUSD price is 1.24, meaning the EUR is 24% higher than the dollar, or that you need 1.24 dollars to buy 1 euro. So it is more expensive to buy gold on the EU RMAH, than on the US RMAH when looking at the EURUSD quote.
That aside, gold is selling and you can make money from this and if you are willing to walk on the wild side, you can make a decent amount of money from it.
Buying and reselling black market gold
Let’s get one thing out of the way first; the morals of buying gold. Goldsellers get their gold from goldfarmers that use bots in the best case scenario, and scam and hack accounts in the worst case scenario. Scamming and hacking people is bad, mkay? We can agree on that. Botting is a bit better, depending on the type of bot. Something like Demonbuddy is one of the more benign bots, while something like Blizzkrieg and other AH bots, wreak havoc on the economy. So let’s agree that buying gold can be bad, and you should feel bad for doing it…..kinda like you should feel bad for buying chocolate made with cocoa beans harvested in Africa by using child labor. Or Nike shoes and Apple gadgets made in sweat shops.
Having said that, with people buying gold on the RMAH you can make gold by selling on the RMAH. And if you buy your gold from goldsellers, you can get it for cheap. Doing a quick check on a few different sellers, you can get 10 million gold for around 12 $, or 1.2$ per million.
Diablo 3 gold is cheap, and getting cheaper, but there is a risk
If you can resell this for 2.5$ per million, you can cash out 2.5*0,85*0,85=1.80625$ to Paypal and you make 0.6$ per million or 0.9$ if you cash out to your Battle.net account. Making 75% profit on your investment is pretty good!
How to resell gold properly
Now, as with any investment, there are risks. In this case they can be pretty severe; your account can be hacked or banned. But there are ways to minimize the risks here:
- Get an authenticator and use it every time you log in. Even if you don’t intend to buy gold, get one and use every time you log in. This will take care of 99% of hacked accounts.
- Buy small quantities of gold at a time. There isn’t really that much of a discount, when buying large quantities of gold, so you might as well buy 10 million at a time and buy multiple batches.
- Use one seller that you trust. Do a few test buys and if everything is good, keep using him. This keeps the amount of accounts you interact with to a minimum. Should one of the goldseller accounts get flagged, you are much less likely to get involved.
- Sell in small batches, but do it frequently. This should avoid getting you noticed by Blizzard and having a flag raised on your account. Selling 100 million gold in one day is likely raise a red flag, while selling 10 million each day for 10 days is much less likely.
The key to making money off of this, is by keeping at it. You might only make 10$ a day, but that is 50-70$ a week with little effort. You just buy gold and put it up for auction. The thing about selling your gold on the RMAH, is that you have to be persistent. You can’t undercut, since there is a floor to the price, so once you put up your gold for auction, you are at the back of the line. So put up auctions everyday and keep trying.
Granted this method is not for everybody and it does cross the line for a lot of people. Alternatively, you can farm your own gold in something like Arreat Craters or farm you gold in Crypt of the Ancients. Or you can use the auction house. Recently I did a review of Diablo 3 Billionaire, which has a lot of great auction house strategies in one place or you can use my own Diablo 3 AH strategies guide. Check those out and swing by the Diablo 3 Farming Facebook group and let us know how it works out for you!
You can buy Star Emeralds for less than 50 cent on the EU RMAH which should sell for more than 500000 gold after fees on the Gold AH. This way you’ll pay less than 1€ per million.
The exchange rate for level 14 emeralds is even better (18-19 million for less than 14€) but you might need more patience until the jewel(s) sell on the GAH.
excelente
Hi, I’m from latin america you make excellent reports.
in an earlier report you said that the Chinese gold farmer are injecting at auctions to buy and resell for would not be a profitable option.
what you now mean that it is a good option because I wanted to do the experiment.
on the auction house is really very tedious’re looking for deals but in the end you can earn from 3 to 4 times.
thanks for your contributions is good information
I have some issue to sell gold on EU RMAH , at the minimum price buth nothing gone :/
I have noticed that while gold is selling, it is taking nearly 36 hours for maybe just some of your gold to sell. As I stated in my recent post its going to suck if we don’t have something that is as reliable as gold to fall back on when RMAH selling is slow.
On EU gold isnt selling at all and the going €/Million gold rates of items is getting lower and lower – the value of gold decreases.
I envy americans if your gold sells and you can make money as easy as that.
I agree , I really need to find somthing good to sell in the RMAH
As I said on an other post, selling gold is freakin hard, especially on EU market. The offer is really high (everyone is greedy) and the demand very low (people don’t want to spend money on a game that is not-so-fun).
What happen if you try it, you end with tons of gold that you desesperatly try to sell every 36 hours.