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Salvaging Lump of Ambrite Still Profitable

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I'm selling my Ambrite pieces for almost 3 silver each and buying lumps of Ambrite for 3.75 silver. Even if your luck sucks and you get around 1.5 Pieces of Ambrite per Lump of Ambrite, you still get back around 3.87 silver. Minus the three copper for my fancy smancy Copper Fed Salv-o-matic and I'm salvaging about a hundred a day for profit. Prices fluctuate so the key is to pay attention to the market and wait for changes before placing buy orders or listing to sell.

I'm just surprised that this method still works, as I already mentioned it a few weeks ago. Oh well, easy money! Just remember that with low profit / low risk items like this you usually have to wait a little bit longer than normal for the buy and sell orders to complete.

On the private forum side of things... Alex sent me an epic upgrade to the original converting kharma to gold method and I included it in the Markco's Crazy Thoughts Section. It shaves off around 100 kharma per item from the crab vendor I first recommended. You can find the original strategy on the blog here: Turn Your Kharma into Gold.

A Better Way to Use Piles of Crystalline Dust

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Guild Wars 2 Email... Keep it coming!
I may be posting irregularly at the moment but life will eventually get back to normal. In the mean time, your emails greatly increase the amount of content I can put out on the blog. Obviously not every email is worth mentioning, but the more you send the more I can help people with similar questions. Here's some emails I went through last night:

Rob wrote:

"Hey thanks for the emails.

I have been doing some research over the last couple of days. I'm sold on the [Removed: method for turning skill points to gold in our secret forum] etc are all gravy it looks like. I'm going to watch the ecto market once a week by week basis looking for patterns, once i can see a steady patten ill decide how much the extra magic find is worth."
 
(Rob's talking about salvaging with that bit about ectos... now for his questions...)

"Do you have any ideas about the best/most profitable ways to use crystalized dust? I can see a pretty easy 10% out of making master oils other than that i guess trying to find the best times to do T6 rare mats looks like the best 2nd choice.
 
Thanks for all your help."
 
You're right about the master oils, and that has always been a good way to convert piles of crystaline dust. One strategy that ties together what you're doing nicely is to salvage ectos at a loss (for the magic find) and instead of selling the piles of crystalline dust outright, convert them into master oils. This will reduce your losses or even possibly make you a profit.

You can create some real profit by bidding on rares to salvage (or watching the trading post and sniping deals) for ectos to begin the process of salvaging for piles of crystalline dust and converting to master oils.

Always try to re-evaluate how you obtain items and put them to use for making a profit. Keep in mind various in game systems, especially disciplines, for reducing costs or increasing sale prices.

Oooo Piece of Candy and 7 Other Things to Buy Right Now

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Things to invest in as we move into the second half of summer:

1. Candy Corn

I'm predicting that Candy Corn is going to rise within a month just like it did last year. This is due to the Halloween event coming up in three months. The only difference between this year and last year is that Candy Corn has been increasing a little bit each month since the last Halloween event, making this prediction a little less than a sure thing. Invest at your own risk!

2. Unidentified Dyes

These will continue to slowly climb in price, so investing in them is a sure, albeit slow, strategy for making gold. Expect bigger upticks during the Christmas event and other times of the year when players tend to come back after a hiatus.

3. Iron Ore

In the past three months Iron Ore has gone up to 2 silver and back down to 1 silver like clockwork. Right now we're sitting at around 1.25 silver, so I recommend buying this up for a quick profit next month.

4. Thick Leather Section

Back in May of this year Thick Leather Sections rose to 25 copper, and I'm sure that we will see spikes like that again in the future. You just need to be patient and wait it out.

5. Grape

Grape speculation is a scary thing, because there aren't that many in circulation on the trading post compared to other cooking materials. One time a reddit post was created based on a post I wrote about grape speculation and the price rose to over two gold per grape! This was due to a patch that was supposedly adding new wines, and everyone assumed grapes would be used in the process. Anytime you see grapes as cheap as they are now, you should stockpile a few.

6. Butter

Christmas time is coming faster than you think.

7. Egg

Despite the fact that eggs have remained steady in price for a long time, I have noticed a steady decline in the number of eggs for sale. This should lead to a spike in price in the next few months.

8. Lump of Raw Ambrite

These are currently profitable if you are patient with buy orders and sell listings. You'll average 2 Pieces of Ambrite per Raw Ambrite you salvage. At that rate you'll be making around 10 copper per salvage.

Dry Top Farming Spot

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As people move on to the next zone in the Gates of Maguuma, they may be passing over a great farming spot for powerful and potent venom sacs. Check out this video for where I am farming in Dry Top, Prosperity Valley.

Show Me That Heavy Booty

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Heavy Bags of Booty drop tier 6 items and are a wonderful way to make gold.... as long as you do the math right. Let's begin with a simple question:

"Hello Markco


I've been away from the game for sometime and can't get back into the groove of making gold, if you've got the time I wanted to run an idea past you if you have the time of course.
Are heavy bags of booty profitable? They seem to have a decent drop rate of t6 mats and offer lodestones and cores, on paper really don't see a downside to investing in a few stacks.
I know you've covered bags a few times but i can't see any mention on the web of heavy booty bags drop rates so wanted to see if you had any views on it first.
KR"

So KR wants to make gold opening heavy bags of booty. To start him off, I'd recommend reading this wiki page on them: http://wiki.guildwars2.com/wiki/Heavy_Bag_of_Booty

Next, we need to consider how we'll make any gold off these bags. Buying them with buy orders will cost around 6 silver 50 copper at best. If we look at the most common drops for bags (common items) it's pretty obvious that in every one of those instances you'd lose money. Whenever common items drop you are just hoping to lose as little as possible, because the real money here is in the fine crafting materials (all worth around 35 silver) and Rare crafting materials like lodestones (30 silver to 3 gold). Any medallions or sapphires are pretty much going to be losses in addition to the common drops.

Since you can't count on lodestones dropping at a consistent rate (it's like 1% at best), you need to focus in on the fine quality crafting materials like ancient bones and powerful venom sacs. Any time those drop you will average 2 of them, so that's 60 silver or just under 6 bags.

You will lose, on average, around 4 silver per bag that fails. So that actually gives you a little better odds... instead of 6 bags to get 60 silver it's really 15! Now we're getting into profitable territory.

If you do play to win with Heavy Bags of Booty, be sure to know what the real winners are: fine quality crafting materials worth 30ish silver a pop.

Unfortunately, you can get fine quality items that aren't tier 6 crafting materials. When this happens (approximately 40% of the time), you take a hit to your profits and that's why I can't recommend this method as a great way to make gold. However, if you pay attention to the price of bags and get them even cheaper than 6 silver, you will vastly improve your odds. What's more, I've found it can be tedious trying to sell these above the buy order listing with lots of competition.

Making gold off these bags is actually easier when you speculate. The price rose for Heavy Bags of Booty by 200% when the latest patch hit. Since this bag drops the best crafting materials it will always rise when those materials become in demand. Next time there's a major living story update or anything like that, be sure to stockpile a few bags in advance.

10 Things I Learned Flipping Level 20 Fine Trinkets

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One of my favorite markets is level 20 fine trinkets. These can teach you quite a bit about "bidding low and selling normal." I like that phrase and this market because there are 10 great lessons bundled in them:

1. Buy Orders should be used whenever possible in 99% of situations. When you're flipping an item that is moving upwards in value then sometimes buying outright is preferred.
2. The "normal" price of something is whatever it will sell for in an efficient time frame.
3. Cost, profit, and time are all factors you need to think about when picking markets.
4. To understand the phrase "normal" better, you need to do research.
5. Experience watching the market doesn't hurt either.
6. When one market works bidding low and selling normal, there is usually quite a few related markets just waiting for you to discover them.
7. Level 20 trinkets sell so well because that is a point in the game when people tend to upgrade (also there is an item that immediately starts you off at level 20). What other items could people want at different points of leveling? Hmm.... Might be a good idea to think about this since so many people are going to ruin this market after this post. For a while anyway.
8. Fine isn't the highest quality item available at this level, but it sells the best. Makes you think doesn't it?
9. Level 20 isn't exactly the best level in the game, yet it sells quite well. Also makes you think doesn't it?
10. The Garnet Copper Amulet sells the best of all of these and for the highest price. Could it be people enjoy doing straight up more damage at low levels like most RPG's?

The Gates of Maguuma are Hard to Say

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There are four items you should be investing in right now and watching like a hawk:

  1. Orichalcum Ore
  2. Glob of Ectoplasm
  3. Quartz Crystal
  4. Piece of Ambrite

They are used to create Exquisite Ambrite Jewel which is a crafting material in Ambrite Amulets and Earrings. Expect the price of all four items to increase steadily over the next few weeks. Ambrite itself jumped incredible amounts in a very short time period.

So far I'm enjoying the living story very much, but the trading post is far more exciting!

Are you watching markets and investing in any items at the moment? I'm particularly interested in how long it will take Quartz Crystals to bounce back since so many people stockpiled them during the last event. They jumped initially at the start of the event on July 1st, but now they seem to have settled at the 28 copper mark. I predict that they will rise once more by next weekend, but whether it's enough to make a big splash is hard to determine. The Ambrite itself and Orichalcum Ore are probably the best investments and the ectoplasm will likely continue to grow in value (it was already rising prior to the event).

Be on the lookout for related items rising in price behind all of these (like crystalline dust).

FYI: I've noticed in the past that these living story events tend to flood the tier 5 and 6 markets with easy to acquire items (especially from salvaging). Be on the lookout for price decreases that create great buying opportunities.

Oh and watch for Nopale to rise... it's the new thing you get from cacti farming.

Creating "Invisible" Walls

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"Dear Markco,

First of all I just want to say that your guides are awesome. They helped me a lot in on my way to digital currency success. I do have a question however. There are many times when I buy a relatively large amount of items and at once and want to list them for sale and I am constantly debating whether to list them all for the same price or spread the across multiple areas (generally within a cooper of each other). I was hoping you might have some input about my problem.

Thank you very much, Ilay."
 
You can do this, but keep in mind that anything left unsold costs you 5% to cancel.
This strategy is best used in markets that don't fluctuate much so you're trying to create the appearance of a deal. In those cases I tend to create a large gap between the two prices well beyond a copper each.

Otherwise you create the appearance of heavy competition/undercutting, which doesn't usually help your cause. If anything it will just insentivise people to undercut you further.
In the end such actions often have no effect on the process, since millions of people are buying the common sellers every day.
I know someone who used this strategy when silver was spiking in price in order to effect the market, but we're talking about 20%-30% of the total number of silver ores on the marketplace. For your average deals, there is no reason to spread out your prices. Just be sure to allow enough time for the market to buy up your items, and know that posting too many items is far worse than too few in terms of psyching out other sellers.

Dumping items tends to create large walls and bring attention to your market (more undercutting). Selling in groups creates an "invisible" wall that appears to be just a bunch of random players posting. That's the only time you want to stagger your listings. Just like my friend did with silver.

Where Should I Invest 500 Gold?

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"Hi Markco!

I've just gotten back to playing guildwars 2 recently and I've made about 500 gold in a little over two weeks, mostly by converting skillpoints to gold using the mystic forge. I was wondering if you could give me pointers on where to invest it? Also, do you think it is too late to stockpile on ores?
 
Carlo
Hey Carlo, great question. I would recommend investing in ores still, but also in unidentified dyes. They are going to keep rising throughout the year and beyond.

For anyone wondering how Carlo is turning skill points into gold I highly recommend the information on our private forums.

How to Find Profitable Items to Craft and Sell

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"Hey Markco,

Thanks for this info! I do seem to be having some trouble finding the profitable items to craft and sell. I use gw2spidy to sort to a rating level where I have a bunch of material stocked up (ie tier 2 wood/metal), and then sort based on demand to see where there's a good amount of interest in the items, and then look into profit to see where I can make some money. 

But often times these items which on black and white look would sell well (due to high demand and even/low supply), simply aren't picked up! What's going on and am I doing something wrong?

Cheers and thanks again for your help :)
`Bogdan"
I did a post on this in the recent past, so I definitely want you to check that out first: How to Get Rich In Guild Wars 2. That article outlines how to use another website to find the best crafting deals. However, it is useless if you don't apply common sense to the acquisition and selling of items.

A follow up post I wrote afterwards discussed Becoming Like Walmart. The idea here is that you take advantage of changes in the trading post based on what you know sells from experience. If an item you can craft, but more importantly sell, has materials going on sale, then you need to immediately buy as much as possible. While you might not be able to sell the crafted items all at once right away, you can slowly sell off an inventory of items over the course of several days or even weeks. It's far better to be in the position of having valuable items ready to sell than hoping to acquire them.

Be aware of the flow of item prices (you know gw2spidy, so that's a great start when looking at crafting materials) and you'll easily pick off great deals. You were just missing the other half which is having a tool for finding the deals (see previous link).

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