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Prepare for the Xunlai Electrum Ingot

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Written by Draco.

What to buy:

  1. Silver ore
  2. Gold ore
  3. Platinum ore
  4. Globs of Ectoplasm
  5. Mithril ore
I firmly believe that when Jewel Crafting 500 is announced, this Ingot will be an intricate part of Jewel crafting to 500. With the necessary ingredients to make it, it only makes sense. There are some speculators, that believe it will be used for either Legendary Back pieces or some other Ascended type items when it is introduced.

The necessary ingredients that are on the Trading Post you can purchase, will most likely be similar to the Ascended Refinement items such as the Spiritwood Plank or the Deldrimor Steel Ingot.
I'm thinking that the breakdown might be somewhere on the lines of:

  • 20 silver ingots     (2 units of ore needed)
  • 20 gold ingots       (2 units of ore needed)
  • 10 platinum ingots   (2 units of ore needed)
  • 1 lump of Mithrillium, which needs 100 Mithril & one Glob of Ectoplasm to make.

Lumps of Mithrillium are time gated, this means that you can only make one Lump of Mithrillium a day. Personally, I have been making one a day for over two months now and stocking up on the above items in anticipation of the Xunlai Electrum Ingot being announced.

I also don’t think they will be account bound. This means that we will be able to sell these!
When the Xunlai Electrum Ingot is announced, and in the game, I'm willing to bet that the Xunlai Electrum Ingot, at first, may sell well over 20 gold apiece the first few days before it backs down to supply/demand levels.

My suggestion to any trader looking for something to stock up on now, should have started to stock up now on these items yesterday! Start making your Lumps of Mithrillium before it's too late and your only able to make one a day.

Time to Buy Leather (FINALLY)

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As many of you already know, a huge content update is coming September 9th, 2014. We've hinted at things to buy in the past, but now we finally have some more concrete ideas on what's changing (particularly with regards to crafting).

It's time to start purchasing crafting mats. ALL OF THEM. You should especially be purchasing leather, which has the greatest room for growth amongst the crafting disciplines.

Each crafting discipline will have the ability to create a back piece that can then be upgraded while leveling the discipline.

While I'm hoping that leather will be a primary component for every back piece (that would greatly help the wounded market of flipping leather), that is not a gaurantee.

The other thing you should be buying across the board are cheap fine quality items for the purpose of salvaging them once prices on materials go up. Think of it as an alternative method for stockpiling.

Your last real chance to stockpile will probably be this weekend, so get on it!

Lastly, sell off or salvage any crafted weapons/armor you have lower than level 80. New items coming with the patch will likely ruin your sales.

[Personal Post] Santa Slay for XBOX 360

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Very, very rarely will I post on this blog about personal matters. If you'd like to skip this one then please go to the most recent Guild Wars 2 post - September 9th Shopping List.

15 years ago I made a game using the QBasic programming language that made me decide programming was my calling in life. At 14 years old I learned on my own without any internet help, which is partly why the game was so special to me; everything was original.

Fast forward to a month ago when I learned (super late to the party on this one) that I can easily create xbox 360 games. There was no doubt in my mind about which game I had to make first.

Santa Slay is available on XBOX 360 for a dollar. If I could I would have put it out there for free (xbox forces you to charge $1, 5$, or $10) because I want as many people as possible to enjoy this little romp. It's especially fun with a friend.

Here's a quick trailer:


If you own an xbox 360 and a dollar, please download the full version of my game and rate it. Until the marketplace has refreshed, you will need to type in the full name "Santa Slay" and press start to find it. Within a day it should also be available under "new releases" for indie games.

Thank you so much!

Markco

September 9th Shopping List

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Draco has done it again with an impressive write up on what to buy for the September Feature Pack in Guild Wars 2. Be sure to read why you're buying these items before you go out and do so. Also, be aware of their cycles (view gw2spidy) to predict the best times to place your buy orders.

Draco writes:

My Suggestions to stock up on for the September 9th Feature Pack:

  1. Silver ore
  2. Gold Ore
  3. Platinum ore
  4. Iron Ore
  5. Gossamer Scraps
  6. Truffles (both Snow and Orrian)
  7. Butter
  8. Eggs

So we have three weeks to speculate what ANET rolls out in the September Feature Pack. What can we possibly stock up on and why.

I'm thinking if it's going to be anything like the April 2014 Pack, we can possibly look forward to some tweaks in the Rune & Sigil system, Some advancement in obtaining Ascended &/or Legendary Gear, and a lot of changes to the PvP system.

Let's look at the PvP system, I can guarantee that we will be seeing some new fun finishes, some balancing of skill changes, and possibly another PvP Reward Track. Might even see a new PvP Map coming out.

WvW will be getting some attention as well. I'm thinking that we may see a new or expanded map here as well. We do know that there will be a change in the commander tag, allowing different colors. All for more gems of course (added gold sink) ). The tags will also become account bound not just character bound, but the cost is going to rise a lot! Also expect to see a variety of leveling scrolls, maybe even the ability to Mystic Forge them to combine them in some way ex: 3 20 level scrolls = go to 40th level, etc.

Now the important stuff: Potential changes to the way we collect & trade.

There has been a lot of talk with changing the listing fee's, possibly with an option of paying with Karma. Even though there has been a great response on the forums about this, I don't think Karma paying for fee's will happen. I think anything that has to do with paying for the listing fee or tax will cause all items across the board to increase in price to cover the 'value' of Karma.

I think more likely we might see a cap on the amount of items allowed to be listed at one time, maybe increase the amount we can bid or offer per order. An increase from 250 per would be welcomed, maybe allow bulk orders?  Another potential area that can be changed would be the amount of orders you can enter within a specific amount of time. I'm sure we have all hit the order error when we are cleaning out our inventories.

Will we see Jewel Crafting and Cooking to 500?

I'm hoping so, I think adding the ability to craft Ascended or Legendary trinkets would be awesome. I know the whole debate about making ascended trinkets verses buying them with Laurels. I'm just saying, I think making my Ascended trinkets or even Legendary quality trinkets would be fantastic and a strong possibility if Jewel Crafting goes to 500. If this happens, Personally I would stock up on Platinum, Gold, and Silver Ore.  Might want to grab a bunch of Iron as well if the back pieces in the past are any indication of how those might be made. Gossamer might be something  you might want to take a gamble on as well.

Cooking to 500 many say "what the heck are we going to make?" I think the ability to make boost that affect a party, or allies within a specific radius of the boosted player, foods that only work in WvW or PvE. Maybe high end foods or drinks that can only be used in PvP! Maybe for these cooking to 500 will require items like Truffles, rarer herbs, and some staples, like butter, eggs, etc. Cooking to 500 can also be used as a utility crafting profession to be able to make future living story items later.

Gems of Crafting - Simple Guide to Crafting for Profit

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This article was written by Draco, a contributor to this blog and member of the private forums.

Don't just know your Mat's market, know what you can do with your investment if you don't reach your  target price. The best mat's to invest in are those that you can still turn a profit when this happens.

Let's look at Sticks of Butter, Recently it has moved up and I am sure there are people who have an average price that might be at or just above the current offering price. One option is to use your cooking skills and add a few more coins of investment into it and make Bowls of Peach Pie filling or Bowls of Butternut Squash Soup, as well as a few others.

Finding these 'Gems of Crafting' can be very helpful to really understand the market of these items and it's mat's. It will also makes you think of a few other important questions you should ask yourself when thinking of getting involved in some of the mat's markets:

  1. What can this item be turned into?
  2. Are those items, when crafted, profitable?
  3. Should I just craft them and then sell them for profit?
    Will I be able to make more profit crafting then holding and selling?
  4. Will the crafted item's market be able to handle the volume that Ii am about add to it?

This is very important. If you decide that an item might go up and you buy about 10,000 units, when you craft it into a profitable item, how will you be able to sell the crafted item?

You never want to show weakness or create walls when you're just starting to sell a position.

It will also have you start thinking of the reverse:
  1. Why is this item moving up?
  2. Is it the Item that supports the value of the Mat or the Mat that supports the value of the item?
  3. What's going on with the items that's needed to create this?
  4. Is this item suggested to be bought on one of the crafting to 400 sites to level that profession? & how many are suggested to buy?
  5. What else can I make or craft that's suggested on one of the crafting to 400 sites that has profit in there as well?
  6. Can I find other items that are of the same profit zone and take advantage of it?

Understanding these few questions can open new areas of gold production that you might not be tapping into right yet. It can also expand your thinking into other crafting items that have hidden profit as well. One easy way to see if there is craftable profit in an item is going to gw2spidy and look at a craftable item. It will show you what's needed to craft that item and the prices.

Be careful, sometimes these prices are not absolutely current and a loss may occur if you just jump into it. If you take a closer look at the cost of the items needed, you will see that items you need to buy off the TP are listed at the Offer price usually. Take a peek at that item's bid, how much of a spread is in there? Can you buy the items needed at the bid price that puts you into a profit zone?

I have found a few items that said the item, when crafted and sold, would create a loss. But when I took a deeper look, I found that one of the items needed to craft the end result, if bought on the bid, turned  the crafting loss into a gain, sometimes upwards of a silver profit per! These are great because when people are looking for easy profit items, they will pass these right up because they don't take the time and do a little research.

Making gold is easy when someone tells you what to buy and sometimes when to sell. It's harder to find these ideas at times for some people because a little extra homework and research is needed to locate them. When you do find these though, you will find that the competition will be much smaller than the ideas that you find out second or third hand. Who knows how many others are doing the same thing as you when you find out that way!

These Gems of Crafting have been a great cash cow for me the past few months and made some great amounts of gold. It's now time for you to find these too and make some great profits as well. A little time doing the research can net you wonderful profits.

~Draco

Be sure to leave comments if you have questions and especially if you liked this article.

Two Poor Assumptions

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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...

Fabio asks:

"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.

Daniel writes:

"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.

Do Undercuts Mean I Should Cancel an Auction?

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"Hi Marcko,

I was wondering why in your Damn Gold Guide you stated 'I do not, repeat do not, cancel my listed auctions.' After 24/48 hours most of my flips sell, however there are stubborn ones, that continuously get undercut that don't sell. What is the maximum time I should wait before re posting them at market price?

~John"

Hey John, thanks for the great question. Since it's one that I receive quite often, I'll answer publicly on the blog.

Yes, there is a point when you should probably cancel an auction, but it's not always as obvious as you'd think. If you are short on gold for some reason and can't afford something without canceling auctions, then I'd cancel for sure instead of pushing off an important purchase. Another case when you should cancel auctions is if you posted for way too much by mistake (clerical or situational). However, an assumption most people make when deciding to cancel auctions is that undercuts are a sign that they overpriced the auction; they're a bad omen of sorts.

If you follow this logical reasoning to its conclusion, nothing you post will ever sell because someone will always undercut it and eventually the price of all items will be nothing.

While thinking things through proves that the idea your auctions will be "continuously undercut and not sell" is very unlikely, there still is a point where the statement is true.

You must, for example, post your auctions at a price that will sell in a realistic amount of time, regardless of undercuts. If green wood logs never went above 10 silver in the past six months, then I'm unlikely to sell at that price point even if there are a few thousand higher than that. By looking at an item's recent history of prices you can quickly figure out whether the price is moving in a certain direction, fluctuating, etc.

Let's do an example to clarify what I'm talking about.

Green Wood Logs are at around 65 copper buy out.
The past few weeks they have been rising.
The lowest price in the past week has been 50 copper buy out.

If I post at 65 copper buy out, I will likely see a large amount of undercuts. However, if the pattern of prices continues, then I will eventually sell.

I could also post at 60 copper and sell quickly, but I'd make less profit.

Last tip... waiting 24-48 hours for an item to sell if not a big deal, depending on an item. I want my rare dyes to sell in a week and my grapes to sell in a weekend. I wouldn't apply a standard of time against all the same items you're selling.

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