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GW2 Learning to play the TP

Thovarisk

[Ragnarok was his name]
Hello guys/gals today I decided to get my feet wet on trying to play the TP flipping orders and I got the basics down but I'd like some advise on spotting markets (sideglance T1G).
I'm not asking you for your ultra secret million gold a pop markets but just advice to know what seems like a good deal even if the profit margin is small (2-3s). Have any of you had any luck? or just plain good experience you want to share please go ahead, a TP noob like me can use all the help and advice I can get my hands on.
 
OK here goes some basic guidelines.

1. MOST IMPORTANT THING! Don't forget that the tp takes 15% (or more) of every sold item. It costs 5% of the item's sell price to list it and the tp takes a 10% fee when it sells. The (or more) is that if you list something then take it down to re-list it you pay the 5% again; Make sure to factor that in if you have to rel-list an item. To figure out if an item is profitable, there are 2 formulas I use.

(Final sale price I want) x .85 = (How much I get from the sale)
or
(Cost of materials) / .85 = (How much I need to sell it for to break even)

2. 2nd MOST IMPORTANT THING: Patience. Get rich quick only works about 5% of the time. Don't try to get rich quick.

Put in buy orders instead of buying at lowest seller price.
Sell at lowest price instead of selling to highest bidder.

It will take longer to get (or sell) your items, but every copper counts and it is worth it in the long run.

3. http://www.gw2spidy.com/ Use this site whenever you are trying to evaluate if an item is profitable. You can search for market trends for flipping, crafting cost vs end price, or just see if something is worth buying as is or to wait for the price to come down.

4. Craft high end items. Get at least one crafting discipline up to max and find the items that will sell for more than the crafting mats. look on spidy's crafting tabs, I.E. http://www.gw2spidy.com/recipe/3700
Don't just look at the top tier stuff though, there is lots of mid and lower tier stuff that will get you silvers every time you craft.

5. Craft 2nd level crafting mats. This one is easy, but takes a while. Its a high volume/low profit strategy. Turn ore to ingots, logs to planks, cloth scraps to bolts etc. Just calculate the conversion cost of the items and don't forget the tp cut. (this one directly answers your question from the first post)

6. Flipping items. Look on spidy and find trends where items go up and down in a cycle. Day vs night, Weekday vs Weekend, First of the month vs middle of the month, Winter vs Summer. Crafting mats sell for more on the weekends vs tue, wed, thurs, because more people are on during the weekends and want to get their crafting done so they spend gold on the stuff.

7. Predict markets. Holiday event coming up? buy items that can possibly be used in crafting holiday stuff. Pumpkins spiked for Halloween, chocolate, cookies and milk spiked for Wintersday. Just make sure to not hold on to your speculated items too long. the spike will always correct itself so make your profit and get out.

Don't forget that gem prices spike before and during a holiday event because people don't plan ahead and find out they want some cool gem store items. Buy gems in the off season and sell them during holidays and whenever new stuff is put on the gem store.

8. Limited time items. Stuff that comes into the market during events that aren't attainable afterwords will go up in price later on, but it may be much, much later. I am still holding onto some Halloween skins that I got for cheap. They should be worth double what I paid but it will take about 6 months of sitting in my bags.

9. Gamble. I'm not a fan of this, but things like the mystic forge, the new chests that you can buy with random stuff in it, etc. If you can track the numbers of what you buy and what you get, you can have a better chance of coming out ahead. This is why I love spreadsheets. However, if you don't go in fully armed with tons of information you will probably lose money.

10. Patch notes. Changes in the game always makes room for some profit to be had. When specs change and new stuff is put in the game, there will be reasons to sell (or stop selling) related items. If you read the patch notes you will be able to predict changing trends and jump on while items are cheap. Then when people realize that such and such is the best spec and go buy the items to support that spec you can sell your stockpile for a profit. When they add new recipes that make use of a hardly used item that items price will spike.

Finally, go check out podcasts 9 and 10 (I believe) where I bored Tristan to tears with all my making money stuff. Most of the things I talk about in those make money podcasts still apply and there are tons of good links to get ideas of what to do. Also how fitting is it that this is my 100th post on these forums? Perfect timing for this question imo.
 
great stuff right there T1G maybe I'll try the 2nd tier mat conversion later just to give it a spin, so far the only thing i've tried is flipping works alright i guess but my starting purse is limited thats why the return profit is kinda small atm. btw check this guys out www.gw2tp.net
 
Thats a pretty cool resource. Also with the 2nd level crafting try looking at crafting components too. Things like rifle butts and stocks, boot soles, chest panels. Lots of times people will just buy the items instead of doing the math and buying the base mats then crafting. People also buy those parts because they are having a friend craft the item for them.
 
Ah the Gold Sensei dispenses his teachings. Man I really need to learn some patience and try this out. I am so used to being able to just gather and sell resources ala WoW that the TP kinda destroys me. I find its a bit trickier than just throwing them up there.
 
6-10 is where I focus my time. That's why I tend to have large spikes of gold, and then work off of that gold for a long time, then spike again. The other methods are much more stable, but don't yield the same high level of results. I love gambling, but I do get burned just as much as I profit (damn BLC's...). You'll see as you get going what is best for you.
 
You'll see as you get going what is best for you.

Exactly.

I focus on 4 and 5 for my regular income and dabble in the rest. I have had nights where I made up to 12 gold with just #5 and can usually count on 3g profit from it per day. It does take a few hours of playing to make that though.

I just thought of a few more ways to make money.

11. Speculation. Find an item that has a track record of making price swings or an item that you think will have a price swing. Put in buy orders for that item at the lowest price you think it will sell for and wait. If you get the item then post it for "market price" as in the normal price it sells for and there is your profit.

12. Dollar cost averaging. This is more of a way to fix bad investments. DCA is the idea that if you make a bad investment and the price goes down then buy more at the lowest price possible so that the whole group of items cost less on average then you can sell at a "normal" price and make a profit.

I.E. There is a Widget of Awesomeness that was selling for 16s yesterday. Today it is down to 10s so you buy 20. For the next week the WoA jumps between 5s and 9s and refuses to go higher. You should buy another 20 at 5s so that your whole stack of 40 WoAs are worth 7s50c each. Now you can sell those WoAs at 8s83c or above and make a profit.

20 x 10s = 2g00s
20 x 5s = 1g00s
3g00s / 40 = 7s 50c each
7s 50c (your investment) / .85 (tp cut) = 8s 83c (break even price to sell at)

If you can sell them at the new top price of 9s you will make 17c profit on each instead of losing 1s 76c because you bought more at a lower price.
 
havnt had much luck yet, mostly because I again have little time to play but i'll try a few of these strategies for sure. Tho i did make a few silvers flipping red gems a lil ago.
 
Its funny... I knew most of it but i didnt knew the most important, i thought tp keeps 15% the time you put it into sale, and not just the 5%, thanks TOG !
 
yeah the 10% its commision from when you sell something, plus when you make a buy order it takes your money but if you cancel it because it was sitting there for too long you get 100% back no charge.
 
no sir, what i meant to say its that it takes your money in advance. but if nobody sells the item to you, you can cancel it and you get ALL your coppers back *ponysmile:.

Lets say you want to buy a [Berserker's Greatsword of Awesomesauceness] and you post a buy order for 1 silver.
but because that sword is has more awesomesauceness than [Twilight] it's never gonna sell for 1 silver so your buy order is gonna sit there doing nothing until the end of times... with your 1 silver that the TP took in advance.

after a few years you realize this and decide to cancel the order to get your 1 silver back, no harm done you get all your coppers intact. *ponymeme:
 
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