Advice for flipping?

Advice for flipping?

in Black Lion Trading Co

Posted by: Warzaw.2708

Warzaw.2708

I’m sure you’ve all seen this before, and I’m just another schmuck trying to garner some gold, but if anyone could give a little advice, I’d appreciate it.

I’ve sent 5g over to an alt as an investment into flipping and I’ve made about 20s in profit I believe from the few items I’ve managed to flip.

If anyone could give just a little advice to practicing it to get better at flipping, I’d appreciate it greatly.

BREAK YOURSELVES UPON MY BODY
FEEL THE STRENGTH OF THE EARTH
Vicodium – Ranger (IX) Coldsnap

Advice for flipping?

in Black Lion Trading Co

Posted by: Bunda.2691

Bunda.2691

Sure thing.

Find an item that has a buy order that is <85% less than the lowest sell orders. There are litterally thousands. Put in buy orders for said item. Hope that the sell orders don’t drop while you wait for your orders to be filled. When you receive the item, list it at a price that is, after the 15% fee, greater than what you paid. If it sells, you profit. Note however, that, while you wait, prices may change, and if you don’t price it right it may not sell, and you lose money.

Hypothetical (or maybe not) example: Sword has buy orders for 1s and sell orders for 2s. You put in a buy order for 1s1c. After you receive your order, list the Sword for 1s99c. Assuming it sells, you have now profited off the spread (in this case a little under 70c per sale).

Strangely enough, you have unintentionally (in your own quest for profit) aided other players as well. Those looking to sell their ore immediately can sell it for more. Those looking to buy ore immediately can do so for less. The only players you have harmed are other flippers, and this is a good thing, because there should be (and there is) some inherent risk to flipping.

Congratulations, you’ve just become (for reasons unbeknownst to me) one of the most despised players in the game: the flipper.

Also, sites like tpcalc.com and gw2spidy.com are invaluable if you want to really get into things.

(edited by Bunda.2691)

Advice for flipping?

in Black Lion Trading Co

Posted by: nearlight.3064

nearlight.3064

Most of the risk with flipping is time. Sometimes you may invest a lot in a market, and have to wait longer than you’d like for it to sell, which is natural but not a huge worry, becasue as long as a major supply shock doesn’t occur, and that you don’t sell higher than the market ever goes, your items wills sell eventually.

I don’t really undercut because I mostly flip items in bulk for a profit of 3-6 copper for each item, and in quantities anywhere from 1000 to 5000, getting riskier but more rewarding the more you buy/sell. I’d recomend things useful in crafting, and defineitly use market data graphs and a calculator (for the 15% sink) to make sure your buy and sell prices fit in with the accordance of the natural ebb and flow of that market, so that your orders and listings will go through within a reasonable time frame.

Necromancer Main
Taking a break from GW2 to play various
Nintendo games..

Advice for flipping?

in Black Lion Trading Co

Posted by: Warzaw.2708

Warzaw.2708

I’ve been using tpcalc.com to check my findings before I buy. I try not to undercut either side, though I know it can be an advantage with some items.

I’ve so far made at least 40s or so in total from flipping, and I currently have stuff on waiting, fixing my buying bids every hour or so if a lot of people have undercut the current price I was at. Of course, I’m checking to see if my profit margins are still within a reasonable range, I don’t think I’ve dipped below a 15% gain, though I usually try to stay at 20%+ right now just to kind of get some ground in all of it.

I guess this won’t be the ideal thing in the long run, what with my limited patience and inability to wait on anything.

BREAK YOURSELVES UPON MY BODY
FEEL THE STRENGTH OF THE EARTH
Vicodium – Ranger (IX) Coldsnap

Advice for flipping?

in Black Lion Trading Co

Posted by: tolunart.2095

tolunart.2095

I guess this won’t be the ideal thing in the long run, what with my limited patience and inability to wait on anything.

Think of it as an opportunity to develop patience and the ability to plan ahead.