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How Long to Save Gold for a Legendary?

How long does it take to save up for a legendary?

Investing 50 gold a day should net you somewhere around 80 to 100 gold in profit. The investing would probably take an hour, the selling a day, and then you would have to cancel/relist items, add new buy orders, etc for an hour the following day.

So every other day you would earn approximately 40 gold. At a pace of 40 gold per day, assuming your income is not scaling (it should be), then you'll need to spend 45 hours during 45 days to purchase a 1800 gold legendary.

The trick to saving up for a legendary is not in grunt work, but rather, scaling your trading post methods. How can you scale up your business? The easiest way is to diversify among similar markets that are already working for you. With the case of fast moving crafting materials, you can often just invest more.

Through a combination of investing more as well as in additional but similar markets to what you already have working, you can scale your profits to greater heights. It then becomes possible to invest your profits instead of just the same seed money over and over again. Instead of 40 gold profit, you'll grow to 60, 100, 200, etc over time. It's not unreasonable to go from 50 gold to 150 in a single week, then 400-600 by the next.

Learn to make decent profits consistently from the same investment. Then scale your business.

In comparison to 45 days, how long did it take you to get your own legendary (assuming you have one already)? Are you currently trying to save for one now? What's your plan?

13 comments:

  1. Anonymous said...:

    hi, i am saving for my short bow, i will need like 1500 gold, my first plan was to gain around 7 gold per day, but in the past 4 days i have done like 20 gold per day farming and flipping, now i have around 100 golds.

    I have diferent markets that are already working for me, i am thinking to invest around 25 gold in flipping more items, and some cycle invest for the weekend.

    Am i in the correct way to archive my goal?

    Some advice is always good from the master´s gold maker!

    pd:I am waiting for new events, I will try to do many gold in the first 12/ 24 hours, how do you play in that critic hours? (if someone put an example i will be happy xd)

  1. Markco said...:

    You may be past the window of cheap weekly buy orders at this point but I won't stop you from trying. I like that you have farming as well as trading post activities for earning gold. That definitely is the optimal method. Keep diversifying, you sound like you'll reach your goal a lot faster than 45 days.

    Do you farm with a group? It increases your loot exponentially.

    Anytime there is a new event, you want to play early and often to take advantage of gaming and trading post opportunities.

  1. Anonymous said...:

    i usually farm with a group yes,

    By you saying this: "past the window of cheap weekly buy orders" what do you exactly mean???

    And do you use any protocol when an event just start?

  1. Markco said...:

    I mean that normally Monday is when prices dip, and as early as Sunday, so that's when I put buy orders in for the following weekend.

  1. Anonymous said...:

    what do you think about investing in azurite items/jewels?

  1. Markco said...:

    We had that discussion recently on the forum. This was my basic advice for all speculation:

    Make sure the risk is justified by the reward as well as the options for getting out of the investment. If you buy the jewels and can sell them for near break even without the price increasing, then there is little risk and a lot of potential reward.

  1. Anonymous said...:

    I'd like to know how many people actually make 40g a day with an hour of time investment. I've tried many strategies that have been posted on this blog(old ones too) and it usually takes a long time to invest. Even then, not all orders are filled and with 40-50g worth of buy orders, only 5-10g get filled by the next day. And when all of that finally sells, I might make a gold or two.

    I find it hard to believe that you can make 1800 gold in 45 days and would be really interested to see it happen. Maybe you can run an experiment and start with 50g, investing for an hour each day, and post how much you have on each blog post. Even if you don't post the strategies used, it would still be very interesting to watch how much you make.

  1. Markco said...:

    Most of the strategies on this blog are starting points. You need to expand upon them, diversify, and modify your own methods.

    Usually I tell people to do small investments at a time to learn a market, but once you know then you can order 250,500,750,1000, etc as long as you've become familiar with the item.

    You can absolutely make hundreds of gold per hour investing, but you need the seed money.

    A handful of forum members are at that point already. But they'll tell you it's all about the fastest moving markets with the small profits for maximum gold per hour.

  1. jokimazi said...:

    I bought 12 months membership for forums, there are some really nice things to learn how to make more money. But it's lots of reading,that I don't mind, but most of the things mentioned on forums have been already abused as they are re-posted here on blog and killed.

    To actually earn 45 golds a day you have to use the knowledge and find the niche markets and keep quiet, and wait for bloggers to post it on reddit. Unless you have thousands of golds and use invest in 1-2 copper markets and wait for 1 month to get the 10% profit.

    There are so many bubbles in the market atm and most of them ara controlled by the forum members with hundreds of golds. Pushing fake prices up and earning on new TP flippers as myself. There is a symbioses but I end up with large amount of items, I have to flood the market to breakeven or earn like 1-3% of invested money when countless hours are spent doing all the orders..

    There are actually members like babs, that recommend to stay away from armour markets and vegetables, as they are too abused.

    At the moment I wouldn't recommend joining forums, as I can't say I am getting my moneys worth out of it. Maybe I'm reading wrong posts, but Marcko stopped doing pre-blog posts, and in general forum feels quite dead.

    Just my 0.02$.

    Kindest regards,
    jokimazi.

  1. Markco said...:

    Jokimazi, I believe you're misrepresenting the truth. Watch your absolute statements, like you saying that I do not do the pre-blog posts any more. Take another look, there was one last week. The forum did not begin when you joined, so you need to take a step back and look at history.

    Armor is an incredible way to make gold, but it has a cap on how much you can make because of the time it takes to play that market and number of buyers. I personally really like it and do it daily. You also have to play correctly, as mistakes cost a lot of time. That's why babs only plays the faster moving, low copper markets. Less hands on that way. Pay attention to the videos I've made on the subject, under my "crazy thoughts section" of the forums.

    You need to go back and read more posts. While we do not post a lot every single day, over the course of the forum's existence there have been some wonderful ideas and very helpful walkthroughs. The knowledge contained therein is everything you need to go from 1 gold to 200 gold in a month, as one forum member just pointed out recently.

    Take your time and don't judge so quickly. You have only just scratched the surface! I guarantee you that within a week you will educate yourself and see things differently. I don't mind criticism, but please avoid comments containing absolute statements that are not true. It looks REALLY bad to people that are not experienced in dealing with me or my blogs.

  1. not jokimazi said...:

    Also, I heard Markco eats baby seals. A source with inside knowledge of the forums informed me of this fact. Shame on you Markco! They're so soft and fuzzy!

    On topic: I can't see myself earning 40g a day playing the tp, but that's no one's fault but my own. I can't bring myself to spend that much time on it. I can certainly see how that would be possible, because taking some ideas from the blog (not a forum subscriber --> I'm stingy with my finances) I applied concepts to other markets/areas and have earned decent gold in the little time I do spend. Scaling that up to more time/gold invested the 40g seems possible granted you can find additional markets into which you can expand.

    But I prefer to spend my time killing things, so I don't hit the tp as frequently as required so my finances aren't as well off as the real tp players. But given the time since release, my current earnings (gameplay & tp), and your 1800g goal, 3 years. By which time I'm sure the price will go up. I'm going to go cry in a corner now. Thanks!

  1. Saidurin said...:

    Hey everyone,

    I am nowhere near able to make 30-40g returns on 50g of orders a week yet. I have trouble getting all of my buy orders fulfilled, but if all items I ordered in a week actually went through my inventory and back into the trading post, I probably would reach the numbers Markco claims. I might need to check the trading post more often to re-list orders when I am undercut, or maybe my markets are bad.

    My goal is to get a legendary (Sunrise) within 3 months. I plan to create the legendary with the gifts in the forge, not buy it outright for this one. I plan to do this 5 ways:

    1)Making gold in game running dungeons, farming t6 mats with magic find and the like (with magic find, I find I can commonly make 2-4g in an hour between checking the trading post, while chatting on voice chat or listening to music, and switching it up with dungeons for fun to break it up so it doesn't get boring).

    2)Playing the trading post using ideas inspired by reading online blogs and tools

    3) Having more useful data at my fingertips (When I started to track my orders of stackable items via a spreadsheet it helped a lot)

    4)Trying to use other methods such as crafting or salvaging. I have started this a little but not more than a small experiment. I do have one market for a cooking item that seems good because there is demand for it.

    5)Learning to speculate more rather just going for day to day trading. I have a couple of super skins hoarded, but you could even do this with crafting materials or cooking food, right? The best I've done with this in the past is buying a whole bunch of trick or treat bags for 21-25c each at Halloween and selling them when the price rose with wintersday for 84c each, making a 40g profit overall, but for me speculation seems pretty hit-or-miss. The same strategy with candy corn made a profit, but was just like an extremely slow version of flipping a common material like iron ore.

    HOWEVER,
    I considered, since trading post income depends on your seed money, would it actually be 3x harder to get 3 legendaries at once, or actually not that much harder than making enough for one legendary due to the multiplying effect of investing your profits?

    Lastly, is there money to be made in doing the non-gold things to get the gifts, and then combining it with the gold-requiring things to a legendary, selling it on the TP and using that money to buy the mats for another legendary for a profit? Just a thought because some of the things that you do to earn the gifts are quite enjoyable to me. :)

    Thankyou everyone, I hope you have some hints for me.

  1. Steve White said...:

    I can attest to the fact that Markco's post here actually works.

    When people fail to receive the claimed results, it is because they ignored the most crucial word on this page: DIVERSIFY!

    Putting gold into a single market like mid-level green armor will triple your gold fast on a very small scale. However, if you dump 50-100g into that single market, you will end up converting your capital into a ton of stock that will sit on the TP for weeks when it could be making you money.

    Invest THINLY (meaning enough to sell in a single day)in SEVERAL markets. It is better to invest 10 silver per item in a 50 markets than to invest a several gold per item in one or two markets.

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