I talked about this secret search criteria for flipping right now on the forums. It's so simple you'll be face palming yourself for not thinking of it! I made around 2 gold from it in the time I spent writing this post!
Small, Medium and Large Wintersday Gifts (but not Giant)
These are pretty straight forward flips, but you're not going to want to try 250 buy orders. It's just too competitive and I preferred going with 5 at a time of each.
Pristine Toxic Spore Sample
What happened here? It's STILL rising!
"Giver's" Weapons and Armor
Only flip one item at a time, but still worth it in the long run. Most profitable flips will net you around 2-3x your investment. Use varied search criteria for the best results, instead of just searching for "Giver's" alone.
More to come... along with other great tips... so subscribe and stay tuned!
Markets are down across the board except for a handful of items (like pristine toxic spores and these two not surprising items!). This is not a time to panic, it's another opportunity to buy.
Gossamer is the hardest commodity to come by of its tier. Think about it... how many ways do you know of getting Gossamer? If you read my previous post, then you already know.
Why is the price of Gossamer tanking? Because speculators want money now. Not a week from now, not a month, but right now. We've seen this before with several different markets, including Karka Shells, Tier1-5 Materials, and now Gossamer.
I know this advice is going to sound like white noise, but the same reason people can't make gold in Guild Wars 2 also explains why they sell their Gossamer Scraps the moment they see the opportunity to; they want their gold immediately.
Instant gratification in students is the hardest hurdle for me to overcome as a teacher in every game economy I've written guides for.
Numerous people email me daily and I want to bring it up today on the blog when we have such a great teaching tool in Gossamer Scraps. Now is actually the time to buy Gossamer Scraps, yet everyone is selling them. Silly speculators! I buy your Gossamer Scraps!
When you try to flip an item, how many times have you bought it and then waited numerous days to watch and see where the price ended up? Well you should start doing that. Maybe only sell some of the items you bought, keep track of what you originally paid, and look for opportunities to make way more profit. In many cases with fast selling items, you can get back 30% of your investment waiting instead of just immediately flipping.
Patience people. I know you want gold today, but knowledge is a lot better for you. Go play a few markets by purchasing buy orders, winning the item, and then practicing your patience. Like I said, just sell a few each day and see if the price changes significantly over time. It could go up or down, but you should learn from this! Prices in this game are so fluid, I can't possibly give you a straight up guide for types of items; I'd literally have to give you charts for each one. So go out there and start experimenting instead of trying to instantly get your cash.
Buy Gossamer Scraps, sit on them, and reap the benefits. Also buy Pristine Toxic Spores, they are exploding. I bought them last week and sat on them watching the price go up and down. I felt confident that I had the hang of things until this patch threw all my numbers out of whack. But because I was patient, now I have the unexpected benefit of doubling my money on them.
Hardened Leather Sections could be a great sleeper play as well. They've dropped significantly in price during this patch.
Wintersday is coming to Guild Wars 2 on December 10th, 2013. That's a little earlier than last year! Have you been stockpiling in preparation for this patch? At this point, it's OK to spill your beans since people knowing your items will only help their price increase.
I'm looking forward to goofing around in the game, but also to making a lot of gold. Speaking of gold, players will be buying lots of it, and the price has already peaked at over 8 gold. I predicted 10 gold by Christmas Day, so here's hoping I'm right! At this point, you could buy gold when it's around 6 gold and hope to sell at 10, but that's not much profit when you take the 36% fee out for selling it.
Wintersday gifts are exploding, but be warned! These could greatly decrease in price the longer the holiday goes on. I bought them when they were below the current buy order, so I'm hoping to make gold by heavily undercutting the current price of the gifts. If you manage to get some on buy orders right now, then you can do the same.
For example, I'll get large wintersday gifts for 25 silver and then list for 50 silver, even though the cheapest listing is over a gold. Don't be greedy and you'll stay on the nice list ;)
Flawless Snowflakes are an easy flip right now, and will continue to be throughout the holiday.
I experimented with flipping sealed package of snowballs today, and I was surprised that they actually sold!
I continue to sell giver's weapons and don't think that the holiday will do anything other than bring more attention to these beauties. Just do a search for "giver" and the include fine, masterwork, or rare. You'll find a lot of great flips!
So what are your plans for the holidays?
Remember when I told everyone to buy silk scraps? Well today will be another "Buy Immediately" post, and the clock is ticking even faster this time. In my sights are two already expensive items known as Piles of Crystalline Dust and Globs of Ectoplasm. These are currently rising from the Gossamer Explosion and speculation for Ascended crafting. They truly have nowhere to go but up.
Let me remind you that the Ascended Weapons and Armor Crafting is probably the most anticipated patch since the release of Guild Wars 2. Every item in the game will be effected, and getting on board now before prices naturally rise during the Christmas holiday may be your last chance. Do NOT miss out on the three items most likely to explode after the Ascended Crafting patch: Gossamer, Globs of Ectoplasm, and Piles of Crystalline Dust. Speculators are currently bringing up the value of these items on their own, but imagine how much further prices will spike when millions of players purchase them.
Check out Ascended Weapon Crafting. The inscriptions cost 10 Piles of Crystalline Dust and 5 Globs of Ectoplasm each.
In just one week Ectoplasms have risen 7 silver and Piles of Crystalline Dust by 3 silver. If you look at percentages, that's an increase of 23% for Ectoplasms and 19% for Piles of Crystalline Dust. You only need a 15% increase to make a profit, and if you bought one week ago then you're already in the green. As I said already, these truly have nowhere to go but up, as they are still being used in game for other purposes while we wait for Ascended crafting.
If you aren't rich enough to invest in these two markets, then maybe glance over at the items on the right side of this list of orichalcum inscriptions; Karka shells, viscous claws, ancient bones, elaborate totems, armored scales, powerful venom sacs, passion flowers and viscous fangs.
You can also try grabbing the orichalcum inscriptions themselves, just as I did with Gossamer Insignias when I saw the price of scraps increasing. You will likely see less profit than with the Gossamer Insignias, which have already doubled in value after a few days. I'd expect the orichalcum inscriptions to increase by 25-50% over time.
Dave wrote me an interesting email...
"Hi Chris, first I would like to thank you for the info on the Trading Post. I started out with 23 gold , am down to 4 gold now. Don't get me wrong , am making money . The other day I logged on and had 5 gold waiting for me . ( an other 6 gold today )I just lost track of how much gold I have spent and how much I got back ,and how much I have coming to me. I seem to be hooked on this. Couple questions if you don't mind. How can any of my other toons use the TP now for let's say to pick up food buffs . Is there a way to pick up one item from the list at the TP.( I only see a take all button ). Should I wait until every I bought is sold , or is it better to reinvest? Is it better to flip lower level items or as you make money flip higher level items that are worth more money.
Basically, he's taking in a lot of gold but quickly spending it (probably most of his earnings are sitting as investments that haven't sold yet). Sorry Dave, you cannot "Take One" from the Trading Post. You can, however, use your bank to hold items between characters.
Regarding the flipping question, you should never lose track of your most profitable markets. If flipping a few hundred cheap items is working for you then don't give up that strategy for the sake of discovering a new, more expensive, investment. Instead, try to split your time between stuff you know works and things you haven't tried yet. I cannot say that one is better than the other because I know people who only flip expensive items and others who solely flip for a copper profit per sale.
I believe that the more you experiment (sounds like you're enjoying the process) then the better you will be able to answer these questions for yourself. A lot is pending on the play style that you settle on and how frequently you can explore the trading post.
Thank you Dave and everyone else who purchased forum access last week for Cyber Monday (that ended up becoming Cyber Tuesday and Wednesday due to technical issues switching the price back). Over 100 people joined the secret forum during that 72 hour period! The discussion, especially with regards to Ascended Crafting, has been phenomenal, and it's nice to see a few of the wiser folks from months past getting back into the game. Here's to a profitable patch!
No, you cannot. I've received a decent number of emails from the newer members of this blog (traffic has doubled in the past few weeks) regarding this topic. In order to save time, I decided to put the answer on the front page.
Why would we like to see the volume of items sold? Well, for starters, we could use this statistic to see if the reason listings were disappearing was due to sales or cancellations.
Predicting trends (and justifying those predictions with these kinds of stats) is the hardest part about playing the Guild Wars 2 economy. Knowing that a price is low now but will go up soon is key to every strategy I use.
Even something like utilizing the mystic forge or crafting requires the ability to predict when materials will be low and the created items will be high.
Unfortunately, the number of actually sold items is not a statistic we can track.
You can, however, track your own sales, strategies, links, etc in the new "My Journal" area of the Secret Forum. Check it out!
Piles of Crystalline Dust and Globs of Ectoplasm are linked in the Guild Wars 2 economy since one can be salvaged into the other. I watched both rising last night and I honestly was not 100% sure whether it was due to mystic forging silk scraps into gossamer scraps or the need for Ectoplasms in Ascended crafting. Regardless of why they are rising, the fact is that they are, and will probably continue to do so. I think buying both of these right now and hanging on to them for a little bit is a good play.
Gossamer Insignias are a seriously underrated market right now, as the prices have only gone up by around a gold since gossamer started exploding. I can't imagine that things will remain stagnant over the weekend when more people buy these. Keep in mind that they are still profitable even now in most cases for flipping. The cheaper you get in the more you'll make when prices rise.
Yesterday I made a post about making gold from the Gossamer Explosion, but I didn't mean making gold today. Although with a few of the strategies you could have. I was instead hoping that you would hang on to your purchases for a bit while waiting for markets to continue to evolve. Realize short gains now or hang on to your hats for big profits later.
Try to learn from how I showed various connections in the game, as other players will always make those links into profitable strategies. Once the profit is dried up and the markets "correct" themselves, watch out because then your window of opportunity could close completely.
The globs of ectoplasm and piles of crystalline dust are expensive items with the potential for large gains, so if you're tired of putting your gold down on thousands of cheap buy orders (like I told you to do with silk scraps), then maybe these two roller coaster markets are more worthy of your time.
Gold is also continuing to increase, and really hasn't stopped since the update-every-two-week strategy was implemented by ArenaNet. I predict that things will get a little out of hand during Christmas, even to the tune of 10+ gold for gems. If you buy in now then you can actually turn a profit once my hunch turns true. Even if it doesn't happen right away, ArenaNet is working hard to continuously increase the value of gems, so it should occur eventually. Remember, gems have a 36% cut on profits, so you need to sell at 10 gold if you bought at 6 gold 39 silver to turn a profit.
Last market, since there are just so many that I could sit here and type all day. Mithril Ore appeared to be making a slow move into profitable flipping ranges yesterday. Which makes me think that the price is going to rise even further over the course of the weekend. Instead of 27 copper buy order and 28 copper sell listing, Mithril was up to 27 copper buy and 32 copper sell. I placed buy orders at 28 copper and am waiting to see if things continue in this upward direction.