Guild Wars 2

Iron Ingots shortly went over 25s due to the new backpiece recipes, just made hundreds of gold just refining ores.

Gotta love patch day.

http://www.gw2spidy.com/item/19699

Thanks to the ascended armor recipes.

I contemplated buying them at 1.4s, didn’t think it’d go higher.

Went up to 2s no more than 5 mins later. 10 mins later its at 3s now.

;(

lol 3s… you should have been looking at the ignots… they went up to 50s. easy 100g.

Dust too.

Supply is being sucked away. 1.1 million at 8a, 80 thousand at 9:30p. About 4000 stacks.

People are crazy. The ingots are nowhere near worth that much. Guess some people have way too much gold on their hand considering the amount of rich iron nodes in this game.

Radiant Dust went over 1o silver, so happy, i invsted into that looking forward to jeweler 500.
1000% profit.

In general, they introduced a grat deal of mat sinks in this patch, Iron might have been a little over the top but grats to the dust and leather sink.

Leather sink? I thought that the new backpiece recipe needs metal? (Unless you’re talking about the Gift of Blades which paradoxically can be made from leather and cloth too.)

Tsk. I hate being stuck at work and not being able to take advantage of these things. gw2tp is reporting that Iron Ingots are back down to about 8 or 9 silver.

It will be a leather sink because all the Tailors will learn Leatherworking to save money on the Gift of Blades…

Zaxares.5419:

Leather sink? I thought that the new backpiece recipe needs metal? (Unless you’re talking about the Gift of Blades which paradoxically can be made from leather and cloth too.)

There are three recipes for it, for each armorcrafting profession, using 15 each of the ascended refined mats. Of course everybody went for Leatherworker and i was able to sell Elonian Leather Squares for over 7g tonight.

No doubt it will equal out but after 2 hours of farming LA, i made over 2000g just in trading in Iron ore (Iron and Steel INgots), refining and promoting, ELonian Leather and Dust, which i hoarded for asc Jeweler.

Would have been nice, if they had the same options for asc refined mats for light of dwayna and shadow of grenth in the first place. I guess they learn after all.

Zaxares.5419:

Tsk. I hate being stuck at work and not being able to take advantage of these things. gw2tp is reporting that Iron Ingots are back down to about 8 or 9 silver.

8-9s is still nuts for iron ingots, also just sold stacks of steel ingots for 15s.

I guess you live in the US, so you can take comfort in the fact that the majority of the EU player base still has to experience the patch since most of us logged off before it went live.

Promoting Bronze Ingots to Iron has always been profitable butthis night i got an average of 30g profit per skillpoint spent, which is redicilous.

Also, prices seem to be fluctuating very much around the full hour, as everybody is busy farming LA until X.45 o clock, when everybody gets kicked out until 15 min past the full hours, when everybody does their business on the tp.

From a Trader point of view , this has been the most exciting patch since Ascended Weapon and Armor came around and made my wait until the content patch in 6 weeks (with asc cooking and jeweler) more exciting.

And sadly my internet was out for a few hours so coudn’t even capitalise on this.

sigh

Seaweed took spike too! Though not as much as iron…

Wanze.8410:

Promoting Bronze Ingots to Iron has always been profitable butthis night i got an average of 30g profit per skillpoint spent, which is redicilous.

How many iron ingots does this reciepe creates per try? According to the wiki its 250 bronze + 5 dust + 1 iron + 2 philo => 40 iron (average) which is not profitable at all.

Welp.. sucks to be european, I guess ;_;

I won’t be happy until Leather sections hit 20c at a minimum. Hopefully that happens during BoTW

Wanze.8410:

Zaxares.5419:

Tsk. I hate being stuck at work and not being able to take advantage of these things. gw2tp is reporting that Iron Ingots are back down to about 8 or 9 silver.

8-9s is still nuts for iron ingots, also just sold stacks of steel ingots for 15s.

I guess you live in the US, so you can take comfort in the fact that the majority of the EU player base still has to experience the patch since most of us logged off before it went live.

Promoting Bronze Ingots to Iron has always been profitable butthis night i got an average of 30g profit per skillpoint spent, which is redicilous.

Also, prices seem to be fluctuating very much around the full hour, as everybody is busy farming LA until X.45 o clock, when everybody gets kicked out until 15 min past the full hours, when everybody does their business on the tp.

From a Trader point of view , this has been the most exciting patch since Ascended Weapon and Armor came around and made my wait until the content patch in 6 weeks (with asc cooking and jeweler) more exciting.

I wish I had the patience to really pay attention to patch notes and get started on trading. I was too hyped up on the LA invasion that I ignored it.

At least I have a shiny backpiece now ;S

Vol.7601:

I wish I had the patience to really pay attention to patch notes and get started on trading. I was too hyped up on the LA invasion that I ignored it.

At least I have a shiny backpiece now ;S

Same here. I was searching through the rubble trying to ensure that Evon made it out alive. I finally found him at the Vigil HQ!

Yamiga.7863:

Wanze.8410:

Promoting Bronze Ingots to Iron has always been profitable butthis night i got an average of 30g profit per skillpoint spent, which is redicilous.

How many iron ingots does this reciepe creates per try? According to the wiki its 250 bronze + 5 dust + 1 iron + 2 philo => 40 iron (average) which is not profitable at all.

You get between 40-200 iron ingots back, so the average is much higher.

Is “goes boom” a trend now?

Vol.7601:

I won’t be happy until Leather sections hit 20c at a minimum. Hopefully that happens during BoTW

I’m hoping it goes up to 2s just like silk… then I will be happy.

ZudetGambeous.9573:

Vol.7601:

I won’t be happy until Leather sections hit 20c at a minimum. Hopefully that happens during BoTW

I’m hoping it goes up to 2s just like silk… then I will be happy.

That would turn my measley 200g leather in the Pick-up tab worth 4800G.

But it would have be an awfully huge sink considering hundreds of other players are probably hoarding leather as well.

Vol.7601:

ZudetGambeous.9573:

Vol.7601:

I won’t be happy until Leather sections hit 20c at a minimum. Hopefully that happens during BoTW

I’m hoping it goes up to 2s just like silk… then I will be happy.

That would turn my measley 200g leather in the Pick-up tab worth 4800G.

But it would have be an awfully huge sink considering hundreds of other players are probably hoarding leather as well.

I highly doubt that t5 leather will skyrocket as its consumption is tied to consumption of t2-4 leather. In relation to those, there is just too much thick leather in the game.
Rugged Leather Sections already hit 5s because supply is getting low.

Wanze.8410:

Vol.7601:

ZudetGambeous.9573:

Vol.7601:

I won’t be happy until Leather sections hit 20c at a minimum. Hopefully that happens during BoTW

I’m hoping it goes up to 2s just like silk… then I will be happy.

That would turn my measley 200g leather in the Pick-up tab worth 4800G.

But it would have be an awfully huge sink considering hundreds of other players are probably hoarding leather as well.

I highly doubt that t5 leather will skyrocket as its consumption is tied to consumption of t2-4 leather. In relation to those, there is just too much thick leather in the game.
Rugged Leather Sections already hit 5s because supply is getting low.

It will not likely spike unless they change it to 100 sections instead of 50 like they did with silk.

Or if the new precursor crafting books use 100+ sections each and aren’t tied to lower tiers.

There are certainly ways for it to be done, but there is a lot of excess right now that will need to be drained before that happens.

Vol.7601:

ZudetGambeous.9573:

Vol.7601:

I won’t be happy until Leather sections hit 20c at a minimum. Hopefully that happens during BoTW

I’m hoping it goes up to 2s just like silk… then I will be happy.

That would turn my measley 200g leather in the Pick-up tab worth 4800G.

But it would have be an awfully huge sink considering hundreds of other players are probably hoarding leather as well.

you have 1000 stacks of leather? how do you store all those.

laokoko.7403:

Vol.7601:

ZudetGambeous.9573:

Vol.7601:

I won’t be happy until Leather sections hit 20c at a minimum. Hopefully that happens during BoTW

I’m hoping it goes up to 2s just like silk… then I will be happy.

That would turn my measley 200g leather in the Pick-up tab worth 4800G.

But it would have be an awfully huge sink considering hundreds of other players are probably hoarding leather as well.

you have 1000 stacks of leather? how do you store all those.

You purchase several accounts and utilize the BLTC pick-up tab as storage. You can store an infinite (as far as we know) amount of items there.

The only risk about doing this is if you place your buy orders and the price moves up. Your gold is then ‘lost’ until you cash out the items. This happened to me this week when I lost about 60G due to buy orders not being filled.

I have two extra accounts, so I’m able to invest in an unlimited amount of two commodities, while at the same time having 10 storage guilds to hold even more items.

I actually hoard 400 stacks of another item. Let me just say it’s really painful selling it. Not to mention if you have to sell it on another account.

If only there’s a way to bypass the 8 stacks every few minutes restriction. I can only sell 8 stack and it start giving me “error attempting to sell” message.

Copper ore is over 1s, wow. That’s a lot of bronze→ iron going on

Considering how many rich copper and iron nodes there are… mining should be good cash and exp right now for casuals levelling their alts.

1 rich iron node is worth ~1 ecto nearly.

Iron prices are however already going down. However i made at least 50g yesterday with harvesting iron

I converted my entire iron ore supply into Steel Ingots and made a killing.

I sold all my measly iron ore, ingots and steel but made 3 times what I paid. Made 40 gold profit….I know that’s nothing to some of you guys but it allowed me to take advantage of several other commodities that are silently sliding down to favorable numbers. Gonna have to create a bank toon soon, 2 of mine are already filled.

Edit:
At 8 PM last night, I sold my entire ore lot at 3.63S per ore…..

Cassocaster.4576:

I sold all my measly iron ore, ingots and steel but made 3 times what I paid. Made 40 gold profit….I know that’s nothing to some of you guys but it allowed me to take advantage of several other commodities that are silently sliding down to favorable numbers. Gonna have to create a bank toon soon, 2 of mine are already filled.

Edit:
At 8 PM last night, I sold my entire ore lot at 3.63S per ore…..

Make a storage guild, way cheaper than bank toons.

I feel really bad about skipping the new content, but in an effort to maximize my profits during this current iron boom I’ve just been out farming it.

Wanze.8410:

Cassocaster.4576:

I sold all my measly iron ore, ingots and steel but made 3 times what I paid. Made 40 gold profit….I know that’s nothing to some of you guys but it allowed me to take advantage of several other commodities that are silently sliding down to favorable numbers. Gonna have to create a bank toon soon, 2 of mine are already filled.

Edit:
At 8 PM last night, I sold my entire ore lot at 3.63S per ore…..

Make a storage guild, way cheaper than bank toons.

What does it cost? This is a great idea as I just purchased about 60 stacks of various mats and am running out of room. Thanks again Wanze.

Cassocaster.4576:

Wanze.8410:

Cassocaster.4576:

I sold all my measly iron ore, ingots and steel but made 3 times what I paid. Made 40 gold profit….I know that’s nothing to some of you guys but it allowed me to take advantage of several other commodities that are silently sliding down to favorable numbers. Gonna have to create a bank toon soon, 2 of mine are already filled.

Edit:
At 8 PM last night, I sold my entire ore lot at 3.63S per ore…..

Make a storage guild, way cheaper than bank toons.

What does it cost? This is a great idea as I just purchased about 60 stacks of various mats and am running out of room. Thanks again Wanze.

I think it costs about 5g, if you buy the influence with gold, to get the first 50 slots.
And it takes about a week, to research, iirc.

I have 4 accounts, three of them which acts as storage. Each of them have 4 alts for storage, plus 4 bank guilds. So I have a total of 12-15 characters for storage, plus 3000 guild bank slots. And the TP itself serves as unlimited storage, so if you were to speculate and say that item X is guaranteed to rise in price in the future, you can just use place buy orders and then pick them up when you decide to sell.

Excellent advice, I am on this….have the gold and the mats to fill.

Price increases may be due to speculators… Just like spikes in gas prices in the real world.

Perhaps “investors” have noticed the new back pieces and decided to be opportunistic and buy up the iron supply?

Minos.5168:

Price increases may be due to speculators… Just like spikes in gas prices in the real world.

Perhaps “investors” have noticed the new back pieces and decided to be opportunistic and buy up the iron supply?

Speculators dont buy an iron ingot at 10s, or 25s or even 50s, only people who want to craft their backpiece asap.
Once the Iron Ingots hit 10s, speculators started buying copper ore, iron armor lootbags and salvage items.

Those intense price spikes on common mats are never manipulated by a couple of rich speculators or investors, the mayority of supply and demand still comes from the general player base. Most people in the game will buy mats when they are low or about to rise and sell when they spike.

Some people even think there are still some speculators with lots of gold that are holding on to huge reserves of silk and linen, even though that cake has long been eaten and digested. I wont deny that some people made thousands of gold with silk and linen but they bought Oct/Nov and have sold Dec.