In the second of our Black Lion Underground series, we test the waters on hooking a big fish to really chase valuable profit margins. This will either make or break the bank. Please note that all prices are based on the time of writing and are subject to change based on market fluctuations.
Well on my way to earning 2 gold in last weeks entry, it was interesting to see the Trading Post in action after the patch on the 25th. I’ve spoken to Sardu before about Black Lion Chests and that they were likely to see significant changes. An item unique to the Gem store (in the form of Black Lion Keys) wouldn’t go useless forever and sure enough, before I could even write this post, a patch had arrived making them a much more sought after item. The price on the Trading Post rocketed from as little as 5 copper, to as much as 1 silver. Although that price has now settled down (a little higher than at its lowest point) to around 10 copper, there was some serious money to be made in that very short window, with people buying and instantly selling thousands.
What I would say is that I don’t yet believe they are worth selling. I have 1000 and didn’t at that moment profit from it for several reasons (although I could have made a very quick buck) but the first being that I don’t believe ArenaNet are yet finished with the Black Lion Chests.
A comment made on the last Black Lion Underground suggested whether it would be possible for me to write this column without gathering and only using the Trading Post (actively buying and selling from it). After much thought I’ve decided that I will sell gathered materials but only because the gathering nature of the Guild Wars 2 market dictates that good profit is to be had by utilising the nodes out in the game world, before profiting on them at the Trading Post. Utilising nodes won’t be the source of all my income but it certainly cannot be ignored.
I’ve been experimenting with Buy Orders over the last few days and have managed to pickup 25 Vials of Thin Blood for as little as 38c each. Selling them on for the listed price of 77c, I made a clear profit of 6s 87c on the entire batch.
It is becoming abundantly clear that profit margins are so heavily squeezed due to listing and sales fee’s that I’ve decided to go for a big fish, to hopefully hook a profit above several copper. I’ll pre warn, this could prove disastrous. However, taking risks is part and parcel of playing the Trading Post/Auction House game.
I’ve decided to place a Buy Order for a Rampager's Intricate Gossamer Insignia. At present, I managed to snare myself one for 1g 15 silver. As they are currently selling for 1g 85 silver, there’s a significant profit margin to be had. The most difficult task here however is finding Insignia’s which are in high demand, that people actually need as well as actually trying find a buyer. As it currently stands after my purchase, I'm back on the poverty line and am repeatedly refreshing my Trading Post to see if it has finally sold.
Tip Of The Day
I’ve a sneaky feeling that Black Lion Chests will continue to be improved, to ensure that people purchase Gems to actually open them. If you’re willing to take a risk, why not pick up a handful in wait of future patch notes?