Introduction to the TP and how to make some profit

Hello,
I thought I would start up an economics post here at our forums 8] hopefully some of you will find it useful.
There are a few ways to earn gold of the TP. I will mention some here, and include some examples that are current and you can take advantage of

Flipping: This is when you buy an item, just so you can sell it again (often right away) for a profit.  Finding items for this purpose should not be hard.  The thing you have to remember when you are flipping items is that every copper earned counts, even just 1. (My golden “rule” here is that if I buy something, I need to be able to sell it for at least 1,2 times the price I paid. That way I can always make a quick estimate of what the sell price should be over)

EXAMPLE: At the moment I am flipping “Master Maintenance Oil”. I put up some buy orders for 4,77silver and then I sell them straight away for 6,49 silver netting me approximately 75copper profit.

Crafting: You can always just start crafting items to sell. This is perhaps the least time consuming way to earn gold in this game. For this purpose id suggest using http://www.gw2spidy.com/ to find out what your crafting profession can make that will earn much money.  If you have an armorer profession, you can craft exotic armor pieces and sell. You should check with spidy if you can save gold by buying the crafting pieces, or if you should make them yourself.

EXAMPLE: I want to make some items with my warrior.  He is an armorsmith, so I go to spidy and check if there are any nice profitable items I can make. I find http://www.gw2spidy.com/recipe/786 as we can see I should craft the insignia and the pauldron casing, but I should buy the Pauldron lining from the TP. The thing spidy does not take into account is the buy order prices.  It only lists the current buy prices.  So if you want to spend some extra time checking if you could buy the individual parts cheaper, you could potentially earn a lot more gold. At the current prices, you can see I will earn 1,71gold, which is really nice

Investments: A third perhaps more lucrative and less time-consuming option is to invest in some items that are cheap now, but will become expensive in the future. For this purpose id recommend reading up on patch notes, watching the dev feeds etc. to see what the next event will bring.  If its an event in Southsun, you can expect t5 mats and certain t6mats to drop in price.  If you had been watching the feeds and reading up on the patch with the ascended weapons, you could have made a killing from orichalcum and ancient woods logs.  If this seems like to much work, you could always invest in event specific items, like the Holographic dragon wings, minis or dyes.  It might take a while to go back up in price, but in the end it will be worth it.  There seems to be a trend in GW2 where people put excessive stacks of event items on the TP right after the event ends. Making said items cheap and losing gold.  DO NOT DO THIS! xD

EXAMPLE: At the moment people are leveling their cratfing to 500.  This has caused some expensive items to be mass-produced and dumped on the TP.  I would HIGHLY(!!) recommend that you invest in some Master Maintenance oil and Superior sharpening stones! They are at the moment under 50% of what they usually go for.  Stock these up and sell them in a month or two... or as I wrote over, flip them straight away.


“Rules of the TP”:
1) You should order you items from the TP, not outright buy them.
2) When you sell items, you should check the buy tab first, to see that there is not a HUGE gap between the lowest selling price and the second lowest price. Many people cut prices to “fool” others into posting their items cheaper, then snap them up and flip them.
3) If you are going to be online while using the TP, order in smaller quantities. This way people might simply wait until your bid is fulfilled, instead of overbidding you.
4) Pay attention to the time when you put up orders.  In the middle of the day/start of evening will generally be harder to get your orders fulfilled then in the late evenings. This is because there are more players online at these times, to compete for said items. I usually put up my orders before I go to bed, usually around 01.00.  Then I craft my items the next day, then sell them in the afternoons.
5) Do NOT take your items off the TP and relist them to sell them faster.  Sooner or later the prices will flucuate enough for you to sell your items as is.  If you start doing this you will have to repay the list fee, thus losing you money.

I will try and keep this list as updated as i can

This weeks “hot” tips:
Master Maintenance Oil: As you can see on spidy (http://www.gw2spidy.com/item/9461) these usually cost 10++ silver, so if you get some now to keep for a few weeks you can probably sell them for a hefty profit.  Alternatively, flip them right away.

Superior Sharpening Stone: Same as the oil above (spidy link: http://www.gw2spidy.com/item/9443)
Holographic Shattered Dragon Wings: At the moment (!!) these can be easily flipped for a few silvers profit.

Ancient wood and Orichalcum ore: Sell them now that their prices are inflated.  Buy them back later if you really need them.  Or use: http://gw2nodes.com/index.php to find the harvest spots easily. If you want, you can make planks and bars from these, to level your own crafter to 425. They do not lose much (if any) worth by doing this)

Pristine Snowflake: Easy to get, easy to sell... flip them as soon as you can. http://www.gw2spidy.com/item/38134

Large Skull: Easy to get, easy to sell.  Not much profit now, but if you stack up on them, they will eventually rise in price again.  http://www.gw2spidy.com/item/24366

Mini Reef Rider:  Its often wise to keep an eye on the minis in this game. They are immensely popular, and can easily be flipped. http://www.gw2spidy.com/item/43248

Raspberry Peach Compote: Easy to flip. at the moment you should not craft them into raspberry peach bars, but when this picks up in price again you could go that extra step for the added coppers :)http://www.gw2spidy.com/item/12421

Mystic Coin: Easy to flip, and cheap.  The only thing you have to keep in mind is that in a week+ there will be a new monthly and then the mystic coins will drop in price.. I would buy some stacks then, just to sell a week later or so.
http://www.gw2spidy.com/item/19976
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Berserker's Masquerade Boots
http://www.gw2spidy.com/recipe/2415

Berserker's Masquerade Gloves
http://www.gw2spidy.com/recipe/2373

Berserker's Masquerade Leggings
http://www.gw2spidy.com/recipe/2331

Berserker's Masquerade Raiments
http://www.gw2spidy.com/recipe/2541

You should probably only craft/sell 5 at a time, or you might have your items on the TP for a while.

Holographic Dragon Wing Cover:
http://www.gw2spidy.com/item/43346 nice for flipping :)atm it nets a 22 silver profit.

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02.10
Sorry for the delayed weekly tips. lots of stuff going on this week.

Mini Holographic Risen Knight: Really fast to flip, easy 20silver
http://www.gw2spidy.com/item/43429

Glacial Lodestone: Also fast to flip. netting aboute 5silver at the moment of writing.
http://www.gw2spidy.com/item/24320

Superior Rune of the Afflicted: This item has been swinging alot lately. could do a scoop here
http://www.gw2spidy.com/item/24687

Mystic coin: I know i have already recommended these, but they are even easier to get cheap now (since the new monthly is active )
http://www.gw2spidy.com/item/19976

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Mystic coins are dirt cheap now, you can even outright flip them

Vials of blood are also flippable now. And with the halloween patch ppl are not farming as much in cursed etc. so the overall bloodsupply will probably drop a little.  

It seems that bones will be cheap during this event, so you might want to stock up on some of those (altho id wait a few more days before getting them)

Sometime before the newyear you should also get some gossamer and/or cured hardened leather squares.. these will be needed for the upcomming pink armors..

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You can still flip maintenance oils and sharpening stones (and you should!).

This event introduced a new type of sharpening stones and maintenance oils, toxic sharpening/maintenance stones/oils. These are also very very easy to flip.

You should also consider getting some of the event weapons from halloween, i bought a few swords and staffs for 65gold each to sell in a few weeks/months (long term investments).

If you are looking for some fast gold I would recommend making some creamed dill sauce, or some of lvl80 soups (curry butternut squash, curry pumpkin etc.) or their lvl70 equivalents

This is great

WOW YOU ARE THE  

Great post Tzares  thank you