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Sunday, August 17, 2014
I have two questions from novice players that are based on two mistakes the players are making. Let's answer their questions and set them on the path to becoming trading post super stars...
"hi marko, sorry for my bad english in advance. i'll try to explain myself as easy as i can since talking about trading post can be tricky for a newbie of trades like me.i wanted to start with flipping, let's say, copper ores wich are the easiest to start i think. i've started just buy them at 42 copper each (current price at tp while im writing) and im trying to resell them at 51 copper each to have a comeback since at 50 copper i would just repay my copper buy transaction (counting fees). is this a good and proper way to start? should i prefer other crafting material at the moment? thanks for your precious help! :)"
His assumption is that copper ore is something you can easily flip instantly as soon as you by it. This is not the case Fabio! While in your current scenario copper ore looks like a good flip, what matters more is the time of day/week, not the price. You see, copper ore tends to go up and down in relation to the items that salvage into it along with player selling times (people tend to dump onto the marketplace at weekend nights after farming/playing on their characters. Copper is an item you can flip if you buy it during the work week and sell at specific times on the weekend. In other words, it isn't the fast flip for 1 copper instantly you had always hoped for.
Perhaps in your scenario you caught copper at the right moment when it was on the rise. Great, but not so great, because now you're going to think that the buy and sell prices at this moment are what make an item flippable. This isn't the case! You could be catching copper when it is falling, in which case you will not sell your items until the price has finished going down then back up... could be days or even a week!
Now, in order to help you learn the copper market, I want you to investigate buying level 0-4 and 6-9 white armor with buy orders and salvaging it for copper. You will notice that many can be purchased for incredible deals! More importantly, you will see that these items go up and down with the price of copper. After you master these, you should look into bags that turn into copper ore. And finally, you should study the way copper changes throughout the week. Use gw2spidy as a start, then watch it periodically on your own.
"Hi Markco,Thanks so much for providing these tips and TP advice for me. I consider myself kind of a noob when it comes to making money on the TP; I usually just sell mats whenever they clutter up my bank.I'm guessing I should start with buying lots of low value items and flipping them? I do have around 100g, but I'm relatively inexperienced.I look forward to everything you send out in the future!"
Low value items don't always guarantee fast sales, as I just showed with copper in the previous example. To get started, I want you to flip low level weapons and armor, ranging from whites to blues. Also try level 35 greens. Once you get the hang of managing an inventory of weapons/armor and how much to buy/sell at a time (you will eventually get sick of making money this way), I want you to move on to tier 1 - 5 crafting materials. Watch some of these items as they really fluctuate from day to day (research on gw2spidy).
Also, amount of gold is great for stockpiling items to sell at a later date, but not for day trading. You're better off spending small amounts of money very carefully rather than day trading in bulk. If you make a mistake you could be set back quite a bit. But stockpiling items you know fluctuate constantly and reselling when the time(s) are right is very low risk. Trick is picking the right items, which is why I'm pointing you at tier 1-5 crafting materials. These have many different ways you can resell them after purchasing, including crafting and mystic forging. The more options the better!
Just think before you buy, and remember that re-listing items costs you part of the fee for posting.