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?
Comments
I don't know... As long as what comes out of the Black Lion Chest comes out bound where is the profit? Maybe I just haven't seen enough opened yet -- if they sometimes contain dye packs or mini packs that open to things that aren't bound and can be sold on the TP, then they might be able to prove profitable. I love the Black Lion Salvage kits, but I can only have so many, and I can't sell them. Maybe I'm missing something -- are unlocked chests tradeable?
If they change drops from the chest to unbound they're basically competing with themselves for every commodity except keys, so I rather doubt that will happen. I suppose they could add unbound world drops to the chests, but I believe if they did that the community uproar would be deafening.
Maybe I just don't have the right type of imagination, but without huge changes I don't see the chests becoming very profitable any time soon.
Major Runes of the Eagle continue to be my main source of income from the TP. I've begun taking good care to never buy the last one that is priced below 4 silver making it so that when the next person hits the match lowest seller button they're doing it at a price where I want to buy.
I'm pretty sure they'll be doing something with BLCs soon too.
I wouldn't be surprised if they had a chance to include minipets or rare dyes. The problem that persists is that you need crystals to open them, and that for a lot of people has to be counted on top op the sell price of the chests.
Say they would include a dye in each BLC, those cost about 5 silver at the moment. But opening a chest costs 1 key which equals 25 crystals (IIRC its 125 for 5) which sell for about 8 silver (@work, so this is all rough estimates). So the question is how much would that raise the chest price (it should quite some since you can get another key from a single chest + all the other boosters and stuff), and the small things like that can determine a price rise from 10c to 15c or one from 10c to 2s or something.
----
Nice post once again Lewis. It's funny how much I can find myself in this post. I can't say have been going deep in on the Trading Post. But of course I try now and then to make a profit out of it. But the margins are so EXTREMELY small on things, that it's a pain to really get a profit out if it that goes into the silver range.
Like you said, to get a profit in the higher margins, you have to do some risky stuff.
The thing is that the TP is cross server, so it's really hard to find a gap in the market, let alone be the one that stumbles across a golden deal that 20.000 others haven't already seen. So generally gathering is your best bet, outside of those tricky deals.
I believe the price on the keys is 125 gems each, or 5 for 450, and that's the rub on buying the chests. It seems to me like the keys will always be the squeeze in the pipeline, and the chests will be easily, and consequently cheaply, acquired. Sure the price could go up a little bit, but I don't see a big rise. Possibly a big spike, but timing would have to be very good.
Add new comment