A blog reader and forum member emailed me this terrific question:
Hello! Yes I have watched and read those important guides
you suggested[he's referring to tips on the secret forums here]. They are great guides! How can I check where the prices
land? By the graphs right? Like in gold wars 2 there are graphs that
say sell points and buy points. So is the purpose of quick flips to get
the capital needed to invest for longer periods in time?
I have this fear that I won't get the sale so I try to
undercut as much as possible. I did learn that selling with low cost
fast flip items are best. For example how do I know how to price dyes
like gray dye it runes like rune of fighter? And how much stock do I
need before posting?
This is such a great question! It shows that he has enough understanding of buying low and selling high to realize that you can't use the same exact strategy for every situation. For reference, here is a good post I did on breaking down the different markets and how many buy orders you should use.
Regarding those two items that you mentioned in the email, they are not fast flips, but you should still attempt to flip them!
Instead of placing buy orders of 25, 50, 100+, you should put a single buy order for each one.
yellow quality dye (rare) will often flip for 5 - 10 silver profit.
Just put a buy order in for one of those, and then after you win the
item post it at 1 copper less than the lowest seller.
But be careful! You must check what the lowest seller is
offering at. If it's way too close to your buy order (you'll lose money)
then you should take a look at the other listings before that one. Is
there a big 10 silver gap? Then price beneath that second listing that
will make you way more for the flip.
If you are undercut by dozens of sellers, post the item so that you
will earn one copper from it. Divide the price you bought at (convert
the total cost into copper to make this easier) by .85 and then add 2 to
correct for rounding issues. Post for that amount.
Does that help?
PS: A good trick for instantly looking up what an item is selling for is to right click on it in your bags ("I" key opens bags) and then select "buy more at trading post." That takes you straight to the buy orders and sell listings for the item, instead of having to type the name into the search bar.