We Need More Writers!
I've been showcasing Guild Wars 2 Farming Spots for a week now, and I think it's time to reveal why to you in the form of an Economy Report!
Here's a screenshot to get you started with current data straight off the Trading Post.
|Guild Wars 2 Economy Report 9/6/2012|
The top valued items are comprised of what's actually selling for lots of gold, so it gives you a real appreciation for how valuable a gold is right now. 45 gold is the most expensive item? That's awesome! I think Arenanet did a good job of making gold actually valuable in their game. On to the next column...
Top Supplied Items
Let's take a few of the top supplied items one at a time and explain why there are so many of them.
1. Soft Wood Log - Far too many nodes on the map! Players move quickly out of the starting zones and into areas where soft wood logs are prevalent. However, these same players aren't usually ready to use the soft wood logs in their crafting! So what ends up happening is a glut of these items from players who aren't using soft wood logs for their artisan currently or don't have any intention of using them ever. I had 300 of them from leveling normally, and I actually stopped chopping them down because they weren't worth my time.
2. Iron Ore - Like soft wood logs there are tons of iron ore nodes and players have lots of them to sell. However, these actually have a decent value right now for leveling crafting, so supply is meeting demand nicely and they are selling great.
3. Green Wood Dowel - Anyone who leveled weapon-smithing probably noticed that they created far too many green wood dowels in the first 35 or so levels. Hence a huge number of them on the auction house for cheap. I recommend buying these to use on creating Insignias for discovering new recipes.
4. Copper Ore - Just like iron ore, there is plenty of supply for copper ore and also plenty of buyers.
5. Peach Cookie - A great buy while leveling, lots of people making these and not enough buying them.
Top Demanded Items and Top Traded Items
These two columns are very important. They show you which items players are creating buy orders for (top demanded items) and which items players are actually buying (top traded items). Combine these two columns with the previous one (top supplied items) and you have a great picture for which items are the trifecta: high supply, high demand, and bought frequently.
While some items are in all three columns, there are others that aren't, and these are your opportunities for profit! Example: Jute scraps have lots of buy orders, but not a lot of supply. These are a tremendous opportunity. If you made the scraps into bolts already, fear not, they are still being demanded by players in large quantities! (unlike most other materials that are used and suddenly become virtually worthless). Vial of weak blood doesn't have a huge number of buy orders being created, and it's not in the top ten for supply, but there are lots of people selling/buying them currently. So use my vial of weak blood farming spot for easy profit!
Now you can see why I focused on providing you with farming spots this past week, and what you should do this weekend between leveling sessions! I will create additional economy reports over time and provide more insight into how to read these four very important columns.
I may start speculating on what items are going to be worth buying up for long term profits, which is where I think Guild Wars 2 auctioneers are going to focus the most, but that's another post all together!
Mark my words, no one is an expert yet in Guild Wars 2. The marketplace is still reeling from practically 10 days of no trading post early on, and we will have to wait until most players are level 80 to get a feel for the "normal" economy. What we need to focus on right now is how to make some gold while we wait for that time of predictable trends to finally happen.
NOTE: These stats on the trading post only include the top 10 for each column. I'm sure if you were to break it down by top 20-50 that far more valuable analysis could be made. I mean, what if something in the top 10 for one column was #11 for another? You can figure some of this out on your own though by viewing the item in question and seeing the buy orders and seller listings.