How to Make Money
30-40 silver profit sounds pretty good to me. You won’t get a lot of items that give you a fortune (besides legendary exotics).
You can actually make a profit? Anytime I check the Trade Broker, every item I can make is already selling at a loss. My real question to the people that think they are making money crafting … is are you really? Remember, the 15% tax on every item you sell as well. I find you make more money selling materials than actual items, which needs to change badly.
Vidrak Ironwill – Norn Guardian
Omniscient of Jade Quarry
Omniscient of Jade Quarry
I’ve found that I’m very capable of making good profits with crafting on Jeweler. It’s all about finding a niche. I’m going to make a guide about it at sometime in the future.
The best way to make money that I have found is not to spend it. In our guild we collect and salvage for each other. We try to buy and sell as little as possible. When the entire guild collects for the the guild we don’t often run out. Just my take on it.
The best way to make money that I have found is not to spend it. In our guild we collect and salvage for each other. We try to buy and sell as little as possible. When the entire guild collects for the the guild we don’t often run out. Just my take on it.
So, you’re not crafting?
Leecha Life.
Your name is very fitting……..
Also your ‘Guild’ or at least the people doing the work would make more SELLING MATS THAN ITEMS. That is the point.
Because of the egalatarian approach to information symmetry [all people know all prices in the market as it is global] it stands to reason that over time profit margins will be squeezed to a ~15% price difference from the highest buy order X to the lowest sell order Y.
To profit, you must find the items where X > 1.15Y and that is what Zak and No Walking have done. However, this will be difficult in a buyer’s market where supply vastly outweighs demand so instead of being a producer in this market be a supplier.
If you don’t want to be a supplier then you are in for rough times, sorry.
Nihil curo de ista tua stulta superstitione.
Actually Dishconnected, things get even worse. If you are a patient buyer then making an order only 1% less then the buy price will still benefit you; so in the long run (and for many items already) I believe the spread between order-buy’s will be less then 15%.
But people still thinking they can profit from crafting… lol.. it’s 2012 guys.
This is a response I made in another post, but I’m going to repost it here because I find it to be highly relevant. Sorry if it’s a wall of text, but it pretty much spells it out.
For those of you saying the economy is out of balance…
The profession being profitable from a perspective of cost of mats verses resale value of items made; in my experience, I find that rarely ever to to be the case. It’s really a simple matter of supply vs. demand and inflation. You can make a case that since there’s so many lower levels in the game right now supplying the market with materials, a fresh economy with very few players with an influx of cash to spend, the prices of mats and the resale of items made are out of balance. But even later on, this will never change, as the factors driving the imbalance now, will not only still exist, but be magnified later on by inflation. In fact, if anything, the price of mats will increase dramatically more than the resale value of the items made.
For example, when I rolled my first toon in WoW, the price of a stack of copper bars was going for 5-10 silver per stack. Five years later when I stopped playing, stacks of copper bars were going for 20-40 gold per stack. You could easily fund a toon with the money you first made off of the gathering professions in the first 20 levels, to last you all the way till end game. The reason? Two things; simple inflation for one. When I first started playing I was on a new server. Like here, there was very few people that had extra money to blow. Right now, there’s very very few players that have a bag with gold coins listed in the bottom of it. Especially gold coins that aren’t assigned to be used for a specific upgrade. So as for now, Copper ore is going for 20-30 copper per piece, which in this economy now, is quite a bit. In about a year or two, after the economy is established and there’s far more 80s running around and most players have one, and the money that an 80 can make. THis means there will be a lot more cash available then there is right now in the economy, and there will be more players with disposable cash then there are now. However, don’t expect the ratio of the cost of mats vs craftable items to even out. If anything, it will get wider.
Which brings us to reason number two; players will always value the availability of mats over the limited usefulness of a piece of gear. No one wants to go out and farm the mats to increase their crafting profession. Being able to just buy the mats off the TP to power level crafting will always be preferred to farming them, so the demand will always be high, and it will always be there. The people that supply these mats know this, and as more and more people acquire more and more disposable gold, they’re going to want it, so they’re going to charge more for the mats knowing you’re going to pay it to avoid farming them. For the crafter on the other hand, there’s only so much value a person is going to have for a piece of gear they’re going to replace in 10 levels or less, so the earning potential is always going to be in favor of the farmer. So this only leaves craftable items that are valued at end game where they can’t be out leveled, and the only way they can fulfill this role, is if they’re either niche gear, that can’t be farmed any other way, or simply because they’re the b.i.s. (best in slot) items in the game. If none of this proves true, and you can’t craft your gear on demand as you level up, then there simply is just no reason to take a crafting profession at all.
The key to making money crafting in any game I have ever played or heard about is not to buy the materials needed to make the items you are going to sell. This is because the supply and demand of those items is such that it would cost you more to buy the materials that you can sell the items for except for ones that are uber powerful best stuff you can have or extremely desirable for cosmetic reasons. So the key is to gather everything you need because in the end you will have gain more coin than just what you get for selling the item you make. But because it cost you only time to make the item whatever you sell it for is pure profit unless you figure your time worth a pay rate in coin. In the end I have more coin to my name for stuff I needed to make anyways that if I didn’t bother with it at all. Therefore it is profit.
You really have to look at how much time it takes you to gather all that stuff, in that time, you could be doing many other things to earn money.
That is a factor to consider as well. But right now I see no other way to make any money. Hearts and events don’t give hardly any and if I’m going to farm mobs I might as well gather while I’m at it and make stuff with crafting. But that is not why I craft. I get the impression that it is tied to the best stuff we will be able to have in the game somehow. Selling the materials is probably more profitable except for that stuff that I mentioned before, that will likely be highly desirable and the reason crafting would be profitable in the long haul. Like in all games crafting isn’t for everyone. Some will like it others won’t but that’s all part of what makes the economy work.
As a 400 Tailor – I make about 5s income for 1 Rune. I craft about 10-15 runes at a time, put them on AH. Sometimes they sell instant, sometimes it takes 2 hours or so (I’m during other stuff then).
With that, I was able to buy 14 exotic items for my necro, and 12 for my warrior (level 80 of course). Each “set” costing me about 25 gold. And I still have 30g spare gold growing slowly, as I do not spend too much time on AH now.
So to anyone who says that crafting is not profitable – I call it BS (at least for tailoring).
Also – artificer as my 2nd proffestion is making me some gold, but I don’t use it for max level stuff, rather buying wood logs and craft them to planks – about 4s income per stack. Sells in no-time. (At least that was profitable about week ago, didn’t bother lately as I do not need more gold atm).
Basically, for -most- of your professions, crafting isn’t going to net much profit. The fact that you’re making money in the area of 30-40s per item is remarkable — for tailoring, you can’t get that much in a single item anymore (I was this morning until the market was flooded with exotics set so low, you lose about 20s per item at the very least.)
I wonder how long the Rune market will hold.
It’s all a matter of supply and demand right now with the easy to make/discover stuff over supplied with little demand. While the rest of the stuff either not obvious in the discovery, or takes a lot more mats, or has a much higher demand than supply and sells. As the market settles and supply and demand normalize some thing that don’t appear to have any value may actually be of value to others. For example just a few days ago and going all the way back for weeks the black lion chests were listed at 2c and have now risen in price to 7c. This means the supply is being reduced while the demand probably stayed constant or supply is constant but demand has risen. Other items have risen and fallen in prices and back again. There’s still tons of trash loot on there. I check my bags every time they get close to full to see what has a higher price than vender +15% TP fee to see if I could make more selling the item vs vender. I always see 1,000s of each item listed except for the ones that would make more vs vender. I have yet to get a trash item that is not listed. I’m not even sure they vender value is worth the mats you would get from salvaging them.
You really have to look at how much time it takes you to gather all that stuff, in that time, you could be doing many other things to earn money.
Exactly. I went down to Orr specifically to farm for ancient wood and orichalcum. Let’s just say it didn’t go well. After getting flash mobbed by undead and incurring repair costs multiple times, the entire enterprise was a bust. There isn’t very much of the aforementioned mats out there to make another gathering trip worthwhile.
GW2 is the most aesthetically beautiful game I have ever played and the personal storyline is gripping. However, crafting is a quite a letdown. Part of the problem is that there exists no interdependence among the crafts. This would open up the market. For instance, as a Huntsman, I would need a jeweler to craft the pearl inlays for an exotic pistol. This would give justification for crafting beyond reaching max level.
I am an armorsmith and earn about 10s per armor piece i make. I constantly monitor the trade company to check what lvl 50 armor piece gives me the most profit. I buy everything for about 15 silver and sell them for about 30 silver. 2 full armor sets gets me roughly 1,2 gold a day.
Not much, but at least it is profitable.
No, black lion chests didn’t decrease in supply. The increase in price is warranted by the now possibility of receiving a portable Trading Post vendor that is unlimited and bank as well.
I think what makes it unbalanced now is also the fact that a huge number of people are leveling their crafting skills. So there is a high demand of supplies and high offer of finished goods. This will settle with time.
Devs arer also not willing to change things too much before the economy is stable. This will also settle over time.
And if it is expensive/hard to level a crafting skill, less people will do so or will do it slower, so there will be a higher ratio of craft demanders over crafters.
No, black lion chests didn’t decrease in supply. The increase in price is warranted by the now possibility of receiving a portable Trading Post vendor that is unlimited and bank as well.
The increase in price was a result of a bunch of people posting that the “smart” thing to do was stock up on as many chests as possible because of these items. Of course this was patently false and was just a clever deception. Those same people bought 1000+ chests at 2-3 copper and waited until zerg of followers drove the price up to 90+ copper then they dumped all the chests back making 100+ Gold profit. And driving the chest cost back down to 5c.
The best way to make money in this game is to watch the patch notes and attempt to screw over as many other players as possible.