I received a rather large email from "SmokeyJoe," and if I'm going to take the time necessary to answer it, I might as well make this public so everyone can benefit.
following your blog for a few days now, just recently started flipping
on gw2, and first of all i'd like to say thanks for the info you post
there, it's helped me a lot and i've made about 20 gold since I first
read your blog 4-5 days ago, although it's not much as some people it's
the easiest and fastest way i've found to earn gold on the game.
Anyway on of the things I wonder about is flipping armor, i've
read around on different sites that lvl 20-35 masterwork armor works
best, fine armor sells better, it can work with basic armor and it just
makes me confused as to which is better and I don't really want to try
and invest in something when there's that much of a difference in
people's opinion given that i've just started to get the hang of things
and barely making any gold as it is.
I've also gotten in the jam that I find an item that sells
good and I start to buy a few of those, 5 maybe 10 max and try to sell,
for example Platinum Doubloon which was at the time bought for 2-3s and
sold for 9s 90c and I saw a possible profit there, but after getting
those 10 and putting them out for sale it went about 2 hours without it
getting sold and the prices didn't change either, then after I went to
sleep and got up and saw that in my hours of sleep the sell price had
gone from 9s 90c to 3s in just a few hours so now i'm stuck without the
possibility of selling them and I can't relist cause the price I paid to
list them the first time and then relisting + the price drop it's
probably gonna cost me and not make me any gold so I wonder if I was
just major unlucky this time around or if this is pretty common, if so
is there some way of noticing a major turn like that?
When it comes to stuff that sell for a few gold what type of
items are safe to go for (trophies, trinkets, weapons etc) cause I have
come across items that have a max order price of 1g but are sold for
4-5, I figure I have to look at the amount avalaible but i'm a bit
unsure so I was wondering if an experienced pro like you could shed some
light on this, when is a high price item safe to go for?
My last question is this, as you can read in the beginning i'm
really new to this and making a few gold on a good day but that also
limits me to only a few markets cause I feel I barely make any gold as
it is and don't want to run the risk of loosing all my money, should I
stick to only a few markets or spread out over more?
Right now I stick to XXXXXX, XXXXXX and XXXXXs cause
when I order a bunch I get it fast and it sells really fast too so it
feels safe cause I don't have to wait long for it to sell and risk the
market turning like with the platinum doubloons.
Also could you delete out the items i've listed cause I
don't want others to barge in on my market, I do support what you're
doing and for revealing some items that are good to flip even if the
more flip addicted people get pissed off and want it for themselves, but
right now i'm just a featherweight in this world and would like to keep
those little markets i've barely discovered on my own for the time
being, in the future if I ever get any good at this and start making
major gold i'd be happy to reveal some good flippable items.
In advance I would like to thank you if you read my email and again thanks for the blog.
OK Joe, let's look at a few of your questions.
The level 20-35 masterwork armor does indeed sell, but you need to place a ridiculous number of buy orders to get any kind of consistent income. Fine level 1-20 armor is far easier to flip, allowing you to place buy orders of 250 on 5-10 items instead of dozens. You'll also have an easier time listing them versus the 20-35 masterwork stuff.
Regarding your Platinum Doubloon undercutter, I would buy the person out and relist. I wonder, maybe there is a competing item of the same type that you don't know about? Perhaps people are paying far less for a different item that has similar stats. Something to look into! Never assume that you have all the information. For example, gold doubloons costs a few copper and provide 1 less magic find!
I go for weapons and rings when it comes to exotics. However, I win with buy orders and then list for like 50% of the lowest sell order. Exotics are all about creating deals. Those items you see listed for 4x the buy order aren't selling, which is why you can still see them :).
Regarding spreading out to new markets... YES. Spend less time on the markets you currently do so well in, and instead work on finding new ones. Honestly, how hard is it to place a buy order or list items you've bought? The real work is in researching new markets. So spend 20% of your time listing items and the other 80% finding new markets.
I removed the three markets you named that were your favorite. Honestly though, they have been mentioned many times on this blog as consistent earners, so don't worry too much about people knowing them haha.