New to the economy
Hey guys,
Im relatively new to the game and this is also my first forum post, so go easy on me!
Essentially ive always enjoyed making money in games, i remember buy/selling in guild wars 1 and being pretty wealthy. For some reason i cant seem to anticipate movements in the TP. I am about to hit level 30, but will be powering on to 80 in the next week and im looking for good tips on how to work the TP, what items are best for price fluctuations or even farming to make a large profit.
Any help will be appreciated!
crafting mats in any and all games are always in demand so they have a good inventory turnover ratio. plus you can start off with a low budget with them so it’s a good place to start.
The TP is global, so any legitimately profitable items, i.e. buy mats + craft = profit, will be supplied by 10,000 other players trying to do exactly the same thing you are doing 24/7 in a race to the bottom.
Your best bet will be to farm mats and sell them. I have made enough for 2 character slots plus four bank slots simply by forgoing all crafting profession altogether and selling what mats I pick up. My highest level character is 52.
There is some Day Trader-level of profit possible with Buy/Sell Orders, but again, there are 10,000 other people trying to do the exact same thing and they are all competing with you.
You kinda have to anticipate the price of an item. One way to do it is to keep a log of prices you see, analyses it and see if you can figure out what’s a low price and what’s a high price.
Another way is to look for wide spreads that is more than 15%, put in a buy order, then sell it when it fills. Careful though that if the spread closes, you might end up losing money.
Another is to buy up semi-finished goods as they are usually cheaper than the cost of materials to make it, assemble them into a finished product, and sell it.
There are other ways around…you just have to be creative and patient, and willing to put in effort.
Also, when trying to make a profit from buying/selling orders, make sure that profit can make up for the listing and tax fee. otherwise it may look like you’re making profit at first glance, but you’ll be losing money if the profit isn’t great enough to cover those.
Ahh excellent, so whilst there are a glut of people trying to profit off buy/sell orders, there is still good profit to be made?
Ahh excellent, so whilst there are a glut of people trying to profit off buy/sell orders, there is still good profit to be made?
imo the margin is so small if any at all right now it’s hard to say, since things are pretty much selling at vendor price. but if you can find certain items that seem profitable, go for it.
I myself am waiting for the economy to stabilize a bit first before attempting to do anything. though you can make some money if you take the risk, i’d just personally dont want to take the risk so i’m waiting a bit myself.
plus i still need to reach 80, i’ve been leveling so slowly cause i’ve been super busy for the past month and a half.
Ahh excellent, so whilst there are a glut of people trying to profit off buy/sell orders, there is still good profit to be made?
A lot of. Don’t expect very fast profits, like 10-100 gold in hour, but 1-1.5g is normal, without too much effort.
Keep in mind you are dealing with a fledgling economic state that hasn’t stabilized. Some avenues of profit may be short-lived and some may not have even opened up yet.
When playing on the market think about where the -majority- of players are in terms of levels. The ‘extreme’ players are already level 80 but the majority of players are not.
That majority of players as they reach each new level bracket have a huge impact on the dynamics of relative items within those levels. The demand for items spikes but so does the supply.
By understanding the demographics of the game in terms of player levels you can, essentially, predict the next niche market crash or boom.