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Friday, September 14, 2012
Welcome back for another Economy Report! It is September 14th and here is how the economic weather looks right now in Guild Wars 2:
Items are 'moving' up and down the different columns based on supply and demand changing for each one. Remember last post how I talked about being able to read the different columns and make decisions on what to farm based on that information? Well now we can start looking at this information over time, which is far more valuable.
I'll go over a handful of items that were really surprises to me, as well as give you advice on what to do based on this information.
Top Supplied Items
Looking at the Top Supplied Items, we can see that another crafting material has made its way to the list, namely Bronze Helmet Casing. Like the Green Wood Dowel, these are items that players craft in great quantities to level because they are cheap to make. This creates way too much supply, and since most players would rather get the experience from crafting these items, they remain not purchased.
As someone still leveling my disciplines, I have to say that I think buying these cheap crafting components for the purpose of discovering new recipes is the best way to level a discipline. This is due to the sheer volume of experience that you'll get with each new discovery. Since these components are cheaper than the materials used to make them, you actually save money (even with the expensive trophies involved).
Top Demanded Items
Sticks of butter being in the Most Demanded Items is a real shocker to me, as buying these sticks for 1 copper (the only amounts players are currently placing buy orders in at right now) means that the seller LOST a copper in the process. WOW. This is the same mistake as players who are selling weapons/armor for 1 copper more than vendor price. With the 10% fee after successful transaction, they are losing money every time their items sell compared to vendoring instead. Actually, they lose from the get go with the initial 5% posting fee.
If you end up with any items you won't use (like sticks of butter or chocolate bars) that are being sold, near or at their vendor price, just sell them to the vendor.
Top Traded Items
Holy Mithril Ore! That came out of nowhere to settle in at #4 for top traded items in Guild Wars 2. Mithril Ore is used to craft Mithril Ingots, which in turn make level 70+ Weapons, Heavy Armor, and Jewelry. Just because an item is in the Top Traded Items column doesn't mean that it's valuable enough to be worth farming, however. It just means that it sells quick, and at 23 copper that's really not all too impressive for a level 80 player to farm.
Worth Farming Right Now
So based on what we can see in those four columns, what is actually worth farming right now?
Remember the following information:
Top Supplied Items = Supply
Top Demanded Items = Demand
Top Traded Items = Actual Purchases
Items which make it into the top supplied and top demanded columns tend to show up in the top traded as well. This makes perfect sense, since the items that are supplied and demanded the most are also going to be purchased frequently.
These items will tend to have values that don't change often. There's so much trading going on that the outliers aren't normally felt or even seen.
Rawhide Leather Sections
These items are great for buyout order strategies that revolve around salvaging goods for consistent income. You won't become a millionaire overnight, but you'll win every time. No matter what your skill level, make sure that you read those 4 methods for using buy orders to make gold.
High Demand Items Only
Players want these items, which is great, but if the price is around vendor value then the item is worthless. That eliminates stick of butter and chocolate bars from the list of items you want to farm. Gold ore is the only item in the top ten for High Demand that isn't in any other column. Maybe it's in #11 for Most Traded Items, but I doubt it. Gold's wanted bad by players and yet it is super difficult to find. Here is the location of a few easy to snag gold ores.
I believe that these are going down in value as players get the dyes they want for their character. Despite the fact that these are selling great (#3 in Top Traded Items), their price will continue to drop. If you're looking for a thing to invest in for the future, buy gold instead. Man, I feel like a 401k specialist.
If you get one take away from all this...
BUY GOLD ORE for LONG TERM SPECULATION