We Need More Writers!
WARNING: At the time of this post, Anet has started some new bot banning measures and the price of all crafting materials has soared to has high as 200% last week's prices. If you have stockpiles of anything on hand, I would look into slowly selling it all this week and into next week. When players get online this weekend I would expect that prices would rise a bit, then drop a bit mid weekend, finally rising again the following week to a new normal value for these items.
Also... use your heads and think about bags, salvaging, skill points, etc. There's more than one way to win when prices are rising! Now for today's scheduled post...
"Hello Markco.I recently discovered your blogsite and was following it for a few days with flipping in mind. The first few days I tried flipping Vials of Thick blood which were netting me about 20c profit per vial. I got from around 20g to about 30g. Then from last week or so to this day, I can't seem to be making any profit. Either do the buy orders take forever to get fulfilled (e.g. out of 100 orders, 20 get fulfilled in a span of 7 days) or no one buys the items when I post sell orders. I've been trying to stick with items of minimum 15% profit, with at least 700 supply/demand, decent spread (at least 40c (before the fees are counted)) and I don't seem to know what am I doing wrong. I've been trying to flip some fine dyes, but like my usual problem, buy order takes more than 5 days to fill up and even then I don't seem to be able to sell them (despite buying early week, selling on weekends) fast enough. Also tried salvaging but the RNG is brutal.P.S. I found out about your super secret private forum. To access it I need to buy credit time to the account registered there. I want to know are there any information in the forum that I could use to get cca. 100g in a matter of days, without really melting my brain, and that are worth 15$ ? Or I could get same useful info somewhere on the internet? Thanks."
Let's take a look at what's going on in your world and broad that perspective of yours a bit ;)
First off, kudos for trying new things. No, I'm not trying to patronize you as this is a great mindset, but you need to start researching a little more before you take leaps of testing out methods.
You experienced a nice little search of profit with Vials of Thick Blood, and this should have taught you that when the price of Vials of Thick Blood is increasing, you can make great money very quickly. However, you also saw a problem most markets in Guild Wars 2 suffer from: they plateau, people lose confidence, and then they tank again. This process can take as long as a month or be as short as an hour. The shorter the frequency of plateauing, dropping, and rising the more profits you can make (buy low, sell high).
After this market started to suffer and profit margins closed up, did you continue to monitor the situation? Did you see the price eventually dropping a bit? This was the time to buy (assuming that the price had dipped below .85 * the price you wanted to sell at.
The time to buy an item isn't just when you can flip it right now, but when you can flip it in the near future as well. Logging into Guild Wars 2's auction house not knowing when you're going to buy or sell is the mark of a pro! That shows you are ready to analyze instead of just follow a plan.
Regarding dyes, they are much harder to flip now than they've ever been. However, you need to price competitively with the whole fine dye market and not just the current price of the one you're trying to sell. Sort by fine dyes and price ascending. You'll see the cheapest fine dyes right now and that's what you have to sell against. Remember your audience, people are buying the cheapest version of fine or masterwork dyes (unless they are a very popular dye like gold dye).
Salvaging RNG is a blessing in disguise. It separates the good auctioneers from the bad ones and provides you with an opportunity to make a profit. Do your research and figure out approximately how often you will get certain items from salvaging. I prefer to find level ranges for specific cloths and then try to salvage the light armor items that I know will turn into them on nearly every salvage.
Keep going, you are getting much better just by taking the time to think about all this!
Regarding the forum, it's best if you go in wanting to discuss the game with others and not just be spoon fed everything all at once (it's overwhelming). There are tons of tutorials and some have never appeared online yet, but you'll learn best by asking questions and talking your specific situation out with them, as you're doing now on this blog with me.