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"Not too bad and I understand you have a ton of other things going on!
Have made about 30 gold in the past three weeks from following your
advice! I tried flipping an assassin's legendary inscription and left it
on the TP for five days but there were so many undercuts I decided to
cut my losses. Thankfully I only lost the listing cost when I sold it
but I will probably never try it again. Most of my gold made has been
from certain dyes and lower level armor/weapons. The buyout prices seem
to be too high lately and too close to the lowest list price so I have
taken a break from it for a couple of days. Even gathered crafting
materials seem to be impossible to flip lately but I will continue
monitoring the market for a bit until things settle down. Thank you for
I really like the part where Christopher mentioned that he will take a break for a few days and then come back to it. This is sound advice, especially when you read specific tips on this blog. Leave for a bit, then come back to see the majority of people have fled for other get rich quick ideas.
In regards to Christopher's problem, I gave him two new markets to try while he waits it out.
If you're looking for markets, I highly suggest the forum or posts like this one. Take the examples and then try to find similar items. That will help you avoid the masses who are following the strategies verbatim.
Last week (approximately 5 days ago) I fractured my ribs, which really really sucked. Sorry that I disappeared for that time period, whether you communicate with me via forum, blog comments, or emails. I felt (and still do a little bit) incredibly drowsy because of the muscle relaxers, so I had trouble putting a few coherent thoughts together for new posts. I'm feeling a little better, so I thought it might be appropriate to discuss flipping blood and bones today.
Let's start with some blood! Ring of Blood is a slow item to flip, but if you're patient the pay off can be substantial. I bought several on Wednesday of last week for 1 gold 23 silver each, and I sold them today for 2 gold 28 silver a piece. Vial of Blood was a kick ass investment last week, jumping from 21 copper when I bought it to 33 copper today. That's a 7 copper profit per vial, which is an awesome return on investment (most of my other commodity auctions only net 3-5 copper).
Bought Wednesday, sold on Monday. I may have to try that strategy again this week to see if it works out better than buy Sunday, sell Friday/Saturday that I used to subscribe to. It's all about the research though, and I'm sure that all markets behave slightly differently depending on the day of the week.
Key lesson today folks is simple: avoid flipping items as soon as you buy them until you know the price ranges that they can hit (high/low).
OK, on to bones. Believe it or not, the regular old "bone" item will often flip instantly for a profit. So it definitely doesn't follow the wait and see mentality I apply to the vial of blood and blood ring markets. Buy order for 14, sell for 18, 1 copper profit every time. That's a pattern I've seen happening frequently with this market. Great way to blow time while you wait for other auctions to sell! Be careful though, this kind of announcement on the blog often leads to price gouging and people over investing. You may want to check out the other crafting materials of the same tier as "Bone" to find your own markets to play with.
I'd like to add to these tips with the following suggestions:
1. Get the largest bags possible for your trader. This will cut down on the number of times you need to load items off the trading post and to/from your bank. I recommend the 20 slot gossamer bags.
2. Have movement speed talents and runes. As an elementalist, I use double daggers, Signet of Air, Conjure Firey Greatsword, Zephyr's Speed, Lightning Flash and "of the Traveler" runes.
Here are three example charts someone asked me to read and interpret from Guild Wars 2 Spidy. You can turn off all but the sell listings/buy listings volume and sell/buy listings raw data by clicking on the other keys in the legend for each chart. Those will then get grayed out and only the four listings I just mentioned should remain visible.
#1: Great Market
#2: Good Market
Another great market! You can see that whenever the buy listings outnumber sell listings, then prices go up on the listings.
#3: Terrible Market
Very strangely profitable market. I notice that there are many people trying to buy and very few trying to sell. My guess is that this is something like a recipe that doesn't have a lot of items actually on the marketplace. Probably not a consistent market to play! It sure looks good, but looks are deceiving. You're up against tons of buy orders competing with yours and not enough actually selling. You're just going to get over-cut and be lucky to even see one of these items. Selling would be a piece of cake though.
I hope this analysis helped!
I recently had an email from someone who wished that their market remain anonymous. I have left out the name, but the question is relevant for all markets that people speculated on last patch (magic find change). Here's the question:
"Hey! Thanks for all the blog posts you've done this month and September, as I've had lots to read after a good month break from gw2!
anyway, what are your thought on item X?
I hoarded up several thousands long ago, down at [removed value to protect market] copper if memory serves me right. Now they are beginning to be a problem as they are taking up to much space, for future predictions.
do u think they will rise with the ascended armor?
maybe when people start feeling ok with their current 'magic find state'?
any info regarding item X would be greatly appreciated!"
Do you remember last year when I said to stockpile hot pink dye for breast cancer awareness? It was also sent in my email responder that you get for signing up at the site (on right side of the page). Well check out what happened this time:
20 silver buy order september 29th, 1 gold october 2nd.
Who knows if the price will last, but it tells me one thing: yearly events can be somewhat predictable.
Right now, Halloween is coming, and candy corn is rising in preparation. The time to flip is NOW while other people are stockpiling and driving the price up. I will have 0 candy corn in my inventory when the Halloween event hits, as the money will already have been made.
Food for thought, and it might be time to start getting ready for Christmas...
"Hi Markco, its Blasco. I recently subscribed to your newsletter after
finding your online blogs to be of invaluable help to me in my journey
to become better at playing the Guild Wars 2 Trading Post. While I have
been making consistent profits off the Trading Post, I have only been
making 4-6 gold per day. This is due to the fact that I have only been
able to buy and sell items in large quantities which have a relatively
low % of return. This means that to get big returns I would need to
invest a lot more gold than I currently have. When I tried to solve this
by moving on to flipping items with a high Rate of Return, I was
repeatedly unable to fill out any of my buy orders, due to either being
undercut aggressively, or due to the buy price of those items rising so
rapidly due to what I can assume is a lot of people also trying to flip
those items. Also, it is worth noting that I tried to leave my buy
orders on a lot of these items for a couple of days however, the orders
were still not filled out. So how can I move on to flipping items with
higher rates of return with these issues consistently arising?"
You may be creating mini-walls that are causing people to change their listing pattern. For example: You see an item that will get you 10 copper per sale, so you put 1000 buy orders in at X price. Other sellers will see your 1000 X price and consider it a wall. Even if the price is currently well below X copper, they will price at 1 copper less than yours. Try putting smaller buy orders in and see if your results change.
I thought it would be a good idea to start stackpiling T6 materials for the level 500 update on leatherworker an tailor (gossamer / hardened leather). I noticed that prices are exploding (highest level since more than a year - at least for gossamer) since the update on 2nd of october. Do you have any idea why that might be? I don´t see any connection between these materials and the update. Is this just more people speculating like I try to do?
By the way: thanks for your great blog!
Gossamer and leather are primarily obtained by salvaging higher level gear. Most people are salvaging lower level gear for luck, so the magic find change did not negatively effect Gossamer. Speculators are paying close attention to Gossamer and buying it up in droves. People are looking to wait for the patch before using their current stockpiles, so a lot more Gossamer is being bought than sold.
Contrary to popular belief, now is the time to sell Gossamer. It's on its way up because of speculation, but nobody knows for sure how it will react to upcoming changes. If you had some stockpiled before the magic find change, then now is the time to unload.
If Gossamer explodes, I would highly recommend creating it with the mystic forge. This should go without saying, especially when it initially rises.
"Hey Marcko, I've been trading for a while, but not for huge profits. I
have about 10 items i check for profit (including a level 20 armor, a
couple t1 mats, cooking mats, Unidentified dyes etc.) 'll check all the
dyes between 1g and 40s pretty regularly, but trading to a legendary
seems completely impossible. Have any tips for me? I make a gold or two
every time i do trade, but that's once a day, which means it would take
like 1000 days to get to my legendary.
Thanks for any advice, Alex"
Hey Alex, thanks for the question as it's one on many peoples' minds. I would start transitioning to only cooking and crafting mats. Track their prices and buy low / sell high. You will sell slower (may have to wait a day between buying and posting) but faster (in terms of sheer items being sold in the same period of time). You will also spend FAR less time emptying the trading post tab and selling items because the stacks are 250 instead of 1 per bag slot. Try applying the 5 step flipping guide to get started.
These beautifully easy to sell items, aka the Aether Key Pieces, are going crazy fast on the Trading Post today. I made over 100 gold today alone flipping these non-stop.
So how do you flip an item such as this one that is extremely popular, so much so that it's on the top 10 traded items at the moment and STILL profitable?
1. Determine if the item can currently be flipped (multiply .85 times the lowest sell price minus one copper and compare this value to current most expensive buy order plus one copper).
2a. Place a buy order of 25 for 1 copper more than lowest order.
2b. Check sale listings for people selling the item cheap enough to be worth buying outright (non-buy order).
3. Collect your items once they have all come in. Should they take a long time, cancel your buy order and go back to step 1.
4. Sell the collected items for 1 copper less than cheapest listing. Be careful not to go too low! If someone undercut the rest of the market too much, then go ahead and place your listing higher than their price but lower than the next "wall" of the item. If you need help understanding walls then please see this article on trading post walls.
5. Collect your gold. If the items take too long to sell, leave them up and go back to step 1 or wait it out to determine if you should cancel. Patience is key here as prices often work themselves out. Don't sweat it if one or two of your items get "stuck" being listed for too much. Just do your best to cut your losses and don't hold up the rest of your selling by waiting on these.
In Diablo 3 they're called commodities, but in Guild Wars 2 they go by many different categories. In essence, a commodity is something that you buy and then "use up" or "destroy." Crafting materials, cooking materials, dyes, etc. These are all examples of commodities.
At the moment, I'm following the advice that can be found in my flipping strategy guide to turn a large number of commodity markets into my own personal playground. Simply put, the current price that items are selling at does not concern me. All that matters is how low I've seen the buy order get in the past. I can confidently place buy orders on items knowing that the buy and sell price will go down/up at some point to values I have tracked previously. If you aren't aware of websites which can help you do this, I would recommend Gold Wars 2 or GW2Spidy. But in the worst case scenario, just keep track of the values like I showed you how to do in the flipping strategy guide!
A lot of items cycle into the top 10 traded list on the trading post. When they make it to the top ten, they become more visible to the millions of trading post players, and so their buy/sell orders start to get closer and closer together. Once people stop trading (because it's no longer profitable) then the item falls off the top 10 traded list and returns to a profitable margin. This cycle (whether I'm right on the cause or whether it's a combination of many factors) is predictable!
All you have to do is write down the items that make the top 10 traded list, and then see how their price changes when they fall off or get onto it. You'll be amazed!