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As this blog has grown, it's gotten harder and harder to give tips without ruining markets. There are flipping strategies that worked great when the blog was tiny but have become ruined by the sheer volume of people testing things out for the first time. I'm not saying that ALL strategies are being ruined, but enough are that people become discouraged despite their best efforts. Like everything, you need to apply a certain level of critical thinking to my advice in order to succeed. When I say jump, you shouldn't say how high, but instead wonder how far everyone else is going to jump and get there first ;-)
OK, so that wasn't the best analogy, but I hope you understand the point. Part of the way I still give out good tips and spread out the timing of when people receive information, is by using the email list associated with this site. I can then use a combination of automatic and live emails to supply you guys and girls with more tips but to small groups at a time. If you sign up today, you'll get the first email, but somebody on day 25 will have a completely different email. This helps diversify when people try my tips out and should help to alleviate the problem of over-saturation. It also enables me to mold each new member to this site with the same series of advice which will help them become the trading post expert I want them to be. If they only came to the blog then I'd never know which posts they had read or missed already!
From time to time I post tips not found on the blog to subscribers (it's free). I get A TON of tips from helpful people who like to confide in me, but very rarely does their information get passed on to the blog for fear of ruining their markets (but the email list is a great option for me). Usually I will come up with a related market which indirectly relies on their tip to work. On the right side of the page is the option to sign up for free tips, so please do so if you want the full experience of participating in this blog. Not only can you respond to any email to immediately converse with me, but you also get timeless tips to help you succeed. On occasion, I will post new tips with very timely information that could make you a lot of gold.
EDIT: If you are viewing on a mobile device, scroll down and click on the desktop view in order to see the sign up form on the right side of the page. It is titled "Get Crucial Tips."
In case you're worried about being sold on anything, the only thing I'll occasional advertise in passing is my forum, but that's already a common theme on the blog as well. Look, I'm doing it right here.
I'm all about champion and boss farming now that magic find affects your drops from bags. Anyone who has been salvaging for profits and luck should be jumping for joy. If you don't know how to make some luck from salvaging, I highly suggest you try my post on globs of ectoplasm. This method usually results in a loss of gold for quite a bit of luck. There are riskless methods on our forums that result in great profits, but less luck per hour.
Speaking of champion farming for bags, Queensdale is one of my favorite places for training. Just avoid the map chat fighting and you'll be good to go. Also pay attention for copper ore farming as that's free money while you're in the area. I believe that the popularity of this area is leading to the decrease in price of tiny supply bags. If at some point another area becomes very popular, expect the price of tiny supply bags to rise along with things like butter and jute scraps that come from those bags.
Here is a fantastic website for finding world boss timers. I discovered the link while listening to the recent MMO Reporter GW2 podcast. While going on my runs I'm not starting to listen to a host of podcasts (I run long distance), and MMO Reporter is one of the best.
One of the coolest features about the world boss timer site is that you can click to cross out a boss you've already killed.
For flipping strategies I added a new salvage method under my crazy thoughts. It's fast and easy money, perhaps 1 gold per set of buy orders getting fulfilled (about 20 orders of work) plus salvaging the items and listing them.
Finally, I have decided to get more publicity on the stockpiling of fine quality upgrade components prior to the jewelcrafting patch that is now imminent.
Use that search criteria and see which items are the closest to vendor value. Masterwork and Rare items are far closer to vendor price and are great deals as well for speculating on the jewelcrafting patch. Especially rare items which are usually only 1 or 2 copper above the vendor price! However, I believe that the fine quality items will see the largest profit from speculating (this is a change in my thinking recently).
I would highly recommend websites like Fast Guides for an insight into how the masses will level their jewelcrafting.
Here's an amazing write up by Draco on the forums about how to profit from investing (not just speculating but real investing).
A few days ago I left you with a very simple challenge to make more gold. How are you progressing? Have you made any changes to your game play in order to make the most gold?
One thing I would highly suggest you look into is the Mystic Forge.
Recently, sigils and runes went up in price, but the masterwork version of these items remained at the same value. Several shrewd members of the forum, mailers in game, and numerous other people had little light bulbs go off in their heads when I brought this change up. They astutely realized that you could just combine the masterwork sigils together and sell the rares for minimum price at a profit. Even if you just sell to the buy order price you can make a profit!
Here's how the math works so you can do this for yourself in the future with other markets:
They mystic forge has about a 1/16 chance of turning a masterwork item into a rare item.
1. Establish Cost Per Rare
Take the buy order price of a masterwork item and multiply by 16.
16 * 18 copper = 2 Silver 88 Copper
2. Determine Selling Price of Rare
Since you will lose 15% selling the rare item in fees, you multiply your sell price by .85. I looked at all the rare quality sigils and sorted from lowest to highest price. This gave me a 4 Silver 20 Copper value for the cheapest sigil.
.85 * 4 Silver 2 Copper = 3 Silver 57 Copper
3. Determine Profit
Just subtract the selling price from the cost.
3 Silver 57 Copper - 2 Silver 88 Copper = 69 Copper
At a minimum you are guaranteed 69 copper profit combining sigils right now! What's more, most of them can be bought out at 18 copper instead of having to wait on buy orders.
Can you find other items which this will work for? Possibly runes? You do the math and find out!
Can you turn 10 gold into 100? Even if you have a lot of skill, get 1000% profit on your investment is damned near impossible. It takes crazy changes like patch notes or game updates to achieve such numbers. The best way to make gold is slowly and steadily over time, sort of like building a financial snowball. You need to identify how much time can be spent on the trading post and try your best to earn gold while playing other aspects of the game. You'll also want to make gold while you sleep, reduce how much gold you spend on frivolous upgrades and sell the items you farm intelligently (don't just sell to the highest buy order every time!).
How you run your life's finances tends to have a direct correlation to your gaming experience. In most game scenarios with set goals, players will slave away on the figurative mouse wheel until they have just enough points/gold to purchase the next best item/gear. Is it the same way for you in real life? Are you saving up just enough to put the down payment on a house, then going back to living from check to check? For most people that is how they go through life. I'm not saying that's the wrong way to do things, everyone has different priorities and goals (children are expensive!), but when you're gaming there's no reason to add the stress of being poor virtually. This is because you have much more control over the factors that make you poor in an MMO versus real life.
The best advice I can give you is to slow the hell down. Enjoying the journey needs to be a priority.
I get emails from people who have begun earning far more gold thanks to reading this blog and the average time to turn 10 gold into 100 gold is approximately 4 to 8 weeks. It varies a lot based on play time, with some people doubling their gold in a single week, but regardless of skill or time invested, the mindset of these players is always the same as they follow these 5 Qualities of Great Gold Makers:
- Avoid spending gold on things they don't need. If these players can survive right now and deal decent damage, there's no reason for them to upgrade. Skins and dyes for personal use are a complete waste of gold when you're trying to save up.
- Make gold from the trading post. This will require research into crafting material tiers 1-6 and how their prices change throughout the week. When they log on, they do not know if they will be buying or selling; that decision is made after reviewing the current price compared to prices they've seen in the past.
- They start small flipping with easy markets like low level armor and weapons. These can be flipped on a daily basis, instead of having to wait multiple days like with step #2.
- Utilizing my forums and blog, these players know the best ways to convert kharma, skill points and laurels to gold.
- Never stop learning and experimenting.
See if you can turn 10 gold into 100 gold after one month of using these 5 qualities of great gold makers.
Sorry for the delay, this video really should have hit the blog yesterday. If you stockpiled runes and sigils like I told you to weeks ago, then my advice below will help you make some gold right now.
If you don't feel like listening to the explanation, here is the advice for runes and sigils:
1. Combine runes in the forge. Sell rares and exotics.
2. Sell sigils without combining them.
I bought sigils back when I told you guys to (I believe it was only on the forums, but possibly on blog as well) for about half their current price. Runes have risen in the exotic and rare markets, but masterwork have remained the same. This has created a strange dynamic where you can make lots of gold combining masterwork into rares. I don't expect this will last forever, as the market should eventually catch up.
I was expecting the price of dyes to dip a lot more this weekend after a quick rebound on Wednesday, but Friday night proved to be a rather quiet evening on the unidentified dye market.
By the way, anyone who speculated on the various colored forms of unidentified dyes made a killing. Some went as high as 2 gold in the past week! I don't think those prices will hold for the long term, so don't invest in them now. Also, as I explain in the following video, I think the time to buy unidentified dyes is over. If you bought them at 16 silver on Wednesday, it's also not the time to sell. For once it's time to wait it out!
As I predicted, unidentified dyes fell to long forgotten prices after the patch. This is because players with dyes known by multiple characters were given free unidentified dyes to compensate them. But one thing that most people missed is that dyes will no longer be dropping from monsters in the game. What does that mean for prices? Even if there are far fewer people buying unidentified dyes long term, the price should go up immediately following the patch drop because of the decreased supply.
Here's two things to keep in mind:
1. You should be buying Unidentified dyes right now, not selling them.
2. Don't panic if prices drop a bit over the weekend when many players log on for the first time since the patch and dump their dyes onto the marketplace.
While I have lost literally thousands of gold from my enormous stockpile of unidentified dyes losing half their value, I am confident that the price will return to a higher amount than it was before.
EDIT: Here's what one reader emailed me a moment ago...
"Hello! I just wanted to thank you for the tip on I identified dyes on your blog. I bought yesterday at around 16s 60c when people flooded the market and now they are at 22s 22c with no signs of stopping. I also made some cash on the side by buying rare dyes that were put up at 5s then immediately flipping them at 20s. A lot of my friends thought that prices would skyrocket immediately and when prices were low stay very low. Thanks to your blog I was able to capitalize."
I get a lot of emails from people specifically stating that flipping isn't working for them because sellers are constantly undercutting their buy orders. Think for a moment, is this physically possible?
Yes, it is possible for people to undercut you after you place a sell order.
But is it possible for prices to always decrease? No, at some point they must go back up. So if you stick with it for more than a few tries, you should eventually see success. Keep in mind that when you're winning buy orders, the price tends to be going up, so it's also a good time to sell. When you're not winning buy orders, the price is going down, so you wouldn't want to win right now anyway!
Best defense against this is to start figuring out the "normal" price for an item. Then you can take one look and decide if it's time to buy or sell. Most people start off by just placing buy orders at the current price of an item they heard about on this blog. What if the price is high today? Then you're going to wait forever for buy orders you really shouldn't want in the first place.
Start writing down the price of a tier 1-6 crafting material of your choice every day. Eventually you'll have a grasp of what range of prices it can have, which will help you decide on buying versus selling every day. Don't just go onto the trading post presupposing that today is a day to buy!
If you just want to play Guild Wars 2 and not have to worry about using the trading post for your gold, then this is the guide for you!
Step 1: Go to gw2stuff.com
Step 2: Find the best servers/times to farm (4 pm server time is world boss reset)
Step 3 (Optional): If your server sucks, guest to one of these three...
A. Tarnished Coast
B. Black Gate
C. Jade Quarry
Step 4: Follow boss kill trains for easy rewards.
Step 5 (Optional): To complete step 6, you may need to open the dungeon by completing 5 man events nearby. You can go to gw2state.com to find servers which have COF open already.
Step 6: Complete Citadel of Flames - Path 1.
Takes around 10 minutes to complete and will give you: 1 gold daily chest path, 26 silver reward per completion, and tokens. Buy rare gear at vigil keep with the tokens and sell the rares to buy order (don't salvage).
This is a great way to make gold when you're waiting for buy and sell orders to complete as well! I highly recommend becoming a pro with the two websites mentioned, as they will surely come in handy for numerous other activities you want to complete in the game.
I've been getting a lot of emails lately from readers who want to know the best items to stockpile for the april 15th patch. A lot of great ideas were shared in this post, so be sure to check that out.
One thing I'm not seeing people talk about is just stockpiling good, old fashioned gold. Without some money in your pocket, you will be unable to take advantage of any unforeseen opportunities surrounding this patch. One such opportunity I will be watching for is unidentified dyes. I know that a slew of them will hit the market place the first few hours after the patch is released, and that's exactly when I'm going to buy them (instead of now when speculators have driven the price up).
In a lot of the emails I'm getting, people are making statements like: "I still have XXX gold left, how do I invest it?"
The question should not be how do I invest all of it, but rather, a portion of it. This is a minor detail with major implications. I know a lot of players who buy until they have a few gold remaining and then are stuck hoping for items to sell in order to buy anything. That is a horrible position to be in, and it should be avoided whether you're speculating or just flipping on a day to day basis.
I try to keep a good 50-100 gold handy at all times, even if I have thousands available to me from items banked. This is a personal preference but for a beginning player I would recommend 50% of your wealth remain in gold coins.
Yesterday I asked you all where you were at in regards to making gold. Thank you for the comments and questions both through the post and email. Here are my answers to them all...
today I was thinking about the upcoming wardrobe and inhowfar it could/will affect the market. People always have been greedy when it comes to collecting stuff they can store away nicely sorted. Now that there is a non-inventory-cluttering way of collecting all existing skins I anticipate that the prices for some items will rise massively within the first day(s) after the patch goes live because everybody will try to get his/her/its wardrobe filled as soon as possible. Do you think investing in certain skins would be a smart thing to do? I'm thinking of low price skins like the Glyphic/Shaman/Charr Weapons for smaller profits or maybe even more expensive ones like Dredge or even Pact Weapons and visually unique exotics. Too much of speculation on this one or is it reasonable, what do you think?Ravenfield"
"Hi MarkcoI was wondering what you thought about investing in some skins as the prices have steadily risen since they announced the wardrobe , I think a lot of people will try fill their wardrobe and flipping skins at the moment could be a decent long and short term investment.Regardssupercrazee"
"Hi Markco,I am a new reader to your GW2 blog and just wondered if you had posted any thoughts on what might happen to legendaries when they become account bound after the April 15 feature patch? As a result of them becoming account bound instead of soul bound so you see demand dropping a bit as players can now use them across all characters or do you see this feature increasing the demand for them?I’d be interested to hear your thoughts or see a post on the topic.Keep up the informative and helpful work.Kind regardsAlex"
"After a long long grind and TP play occasionally losing a bit of gold on gems I have finally arrived at this stage. Right now I have enough gold to buy a precursor! However I have seen the price shift drastically because of the wardrobe announcement. I am wondering if the precursor price will actually drop in near future or may rise even further? Also I have a Chaos gun from MF would now be the right time to sell it off and earn a few extra bucks?Secondly I was wondering on the Legendary market... Does anyone ever buy a legendary on the Marked price? I have seen the graph shift too damn slowly but the spread is enough to cover bout 3 weeks of flipping.Regards,Fazz"
"I wonder what will happen with skins after April 15th.
especially the ones with less than 100 supply.
Will skin collectors buy them out? ~Anonymous."
"Thanks to this guide i've been flipping pretty well recently, although I am about 500g away from Bolt, and now I'm just trying to buy the rest of my Gift of Fortune before T6s inflate anymore.
"I would like to see how you make money through skill points :)
"I've been trying to make gold on the TP, but it seems like everything I touch turns to crap. I am extremely unlucky with drops (I've been playing since the betas and I think I got maybe 14 Exotic drops, through over 2000 hours played), I tried the salvaging (and have never got a single platinum ore so far) and lost money on that, invested a long time ago in gossamer scraps, only for it to lose more than half its value.
Kind of disheartened by now.
I really hope that by following the tips on your blog, I will manage to finally make some money and can even start thinking about a legendary. ~Anonymous"
Love the blog.
I played WoW for many years and making money was so easy, it was quite a shock playing guild wars two and struggling to turn a profit.
I am still trying to get my first legendary, I have about 200g, just need a precursor.
I am a lazy casual player, work and life have been getting in the way.
My question is how do I max profits and min the time spent in game
I still run CoF a few times a week, it probably nets 2-3 gold.
I haven't gotten the hang of flipping yet, seems to take forever and I usually get undercut.
I have speculated on some jewel crafting mats but I just don't know what to do with my
My fear is that I invest but then I won't touch the game for 4-7 days.
Sorry for the rambling, I had a strong coffee this morning
Hekkowee on Dragonbrand"
I would advise taking 15 minutes a day to look at the price of crafting materials that you use for your own crafting currently. Just pick a discipline you already know and stick to those materials. Start learning the prices and after a week of monitoring you'll get a feel for when to buy and sell. The name of the game is information first, then learn how to use it.
I have seen encouragement from you and others to consider investing in runes and sigils and also jewels as speculative investments in light of the new patch coming on April 15th. I have also seen people suggesting silver, gold, and orichalcum ore with the possibility of jewelcrafting 500 being released. I have about 80 gold that I would like to invest in some speculative markets. My question is, how do you determine how much of an item to speculate. I can watch the gold market and see that if I time it correctly I can get my buy orders in at 65 copper instead of 75 copper, but I don't know if I should buy 1000, 2000, or 10000 gold? With the runes and sigils, there are literally hundreds of them and some of them are considerably more expensive than others. How do I choose which ones to stockpile for speculative purposes? And finally, how much money do I want to leave set aside to buy up stock in items that fall after the patch but I would expect to rebound and turn into a great profit. I know there is a lot in there, but any help would be greatly appreciated. ~Matthew"
"Not to step on your toes Markco, but for those that are finding making gold tough, I have to say that when I started looking at this blog, it was because I knew just a small few ways to make gold. When I joined your forums, a world opened up to me. Not only did it have other ways to make gold I haven't thought of, but it also taught me to look at making gold in completely new and different ways. Sure it's nice when someone gives you the fish for a meal, even better when you can be taught to fish for yourself.
Thank you Markco for your forums. I can't express enough how it's helped me. ~Draco"
Well Draco, I think you've given more than you've gotten to the forums. You're an invaluable asset to the team there! Just wanted to thank you publicly for all the help you've given to people and also for recently agreeing to become an admin (even more responsibility and awesomeness on your part).
"How do I make my gold?I believe I summed up your point in this post: Don't be sheep. Thank you for reminding people that there is more to gold making than following the leader! The most successful readers of this site twist my advice to meet their needs and play-styles, or they do something similar to what you're suggesting. When I say that item X is valuable, they think about all the other items that are related to it in some way, whether that's through crafting, salvaging, mystic forge, etc. Either they take advantage of the speculators or they apply the advice to another, similar market.
Well what I usually do is check out your blog to see what you say. Usually massive amounts of brainless people that think they can just do exactly as you say without any thought or real analysis. I turn this into an opportunity by taking advantage of other people's stupidity and invest in other stuff that you may announce in the future. Then I sell for loads of profit.
In addition, I will also use a few methods that I have figured out through experience. Some are pretty well known, but through hours of research I came across a few methods that very few people actually know how to do. I can make around 10g in like 15-30 minutes using these methods (after my buy orders go through).
Seriously. People simply can't just rely on this site to be their only way of making gold (as helpful and amazing as it can be). There are many other ways and methods out there that you can use. The hardest part is going on google.com and trying to find them.
~A Fellow GW2 Player"
Hopefully the previous tips will address your question!
"I have really been wondering what to invest in with the big patch coming up. Are there any items I should be stacking up on?? Thanks. ~ Anonymous"
Nobody asked but I'll throw my two copper in anyway. Most websites are telling people to use their unidentified dyes before the patch. Don't do that. Get ready to buy more of them the week after the patch hits and then sell off your inventories as the price rises at a later date. Mark my words, it will be far harder to get unidentified dyes after the initial wave of free unidentified dyes (no more world drops for them).
Usually I get flooded with emails each weekend, which helps me to determine what I want to talk about on this blog. For whatever reason, this weekend was incredibly quiet with regards to questions. So, let me ask here, where are you at with regards to making gold? What questions do you have that you'd like answered, either publicly in the comments, on the blog, or privately via email.
Most of the forum buzz is revolving around what's going to happen on April 15th, but I also don't want to lose track of all the newcomers who are just trying to afford their first legendary.
So hit me up with the comments or email!
Happy to help,
I believe that crystals will go up in price when jewelcrafting 500 gets released. Since they sell close to a copper above the vendor price (except for rubies which make a nice profit from through flipping), there is minimum risk in this investment. Sure, you could lose some money having to sell back to the vendors if it doesn't pan out, but what if the price doubles or even triples? It's worth the risk.
Here's a screenshot of just 10 gold's worth invested:
If you need something new to invest in, I recommend the level 65 crafting material crystals.
Guild Wars 2 is on sale until April 13th. In fact, it's 50% off the
normal price! You should expect to see the price of tier 1 materials
rising as new players enter the game and attempt to level their crafting
disciplines. Hopefully this will cause copper ore to rise to where it
was pre Lion's Arch events.
If you're looking to speculate on the coming April 15th patch, I also recommend that you start buying any jewels that are selling close to the vendor price. I know a lot of items like that dropping in Orr that will surely rise as we learn more about jewelcrafting 500.
Just for general speculation in the future, it is often wise to buy items close to vendor price just for the hell of it. Many items this past year have risen to 500% the vendor value through intentional and unintentional patching by ArenaNet.
I received the following email from a player named Flumek who has been learning how to make gold at a fantastic pace. Here's the advice Flumek had for YOU...