ALTTABME: How to make MONEY Part 1

Show Notes

• opportunity cost - Figure out what your time is worth. Craft, farm, tp, or whatever at the highest yield (unless it isn't fun for you) - Stuff you found isn't “free” its worth market price. If you can sell the parts for more than the finished product you should, then buy the finished product.
  
• keeping track of update notes for investments - Get in a market early and sell back to the people who come in later
  
• use online resources for making your life easier - Check the links provided
  
• how a global trading post is different from a server only trading post - More balanced trading post, easier to trust prices wont fluxuate tons. Less niche markets, takes more work to make gold just from the tp. Makes you play the game more and do the long term strategies for gold.

• use badges of honor, karma, gems, and skill points to buy stuff instead of gold - items for crafting, gear, weapons, even using the magic find to upgrade existing mats, epic weapons, gathering tools, salvage kits
  
• getting mystic salvage kits to save gold and be more efficient at salvaging - one blue 252, green 700, yellow 1344 stack of salvage kits plus 3 mystic forge stones 10 for 450gems gets a stack of 250 mystic salvage kits. Total for 3 stacks 450gems 1g26s00c plus 6888 karma = 750 kits. That comes out to 16 copper each salvage. Normal blue kits are 12c green kits are 32c and yellow kits are 61c per salvage. 750 rare salvage kits will cost 4g60s80c and take up 30 bag/bank slots.
  
• using the mystic forge instead of vendoring or salvaging - when you put in 4 same rarity items you get another item that is the same or better quality. You may not always be able to use it but you can then sell it. If you want to have a specific type of item (like greatsword) you have to but 4 of those same item types and rarity in. Most profitable when putting in lvl 74 or above rares because of the chance of an epic or legendary precursor.
  
• buying bag slots or character slots with gems instead of 18 and 20 slot bags - Tristan's writeup on the website
  
• buying from the TP overnight or on weekdays instead of weekends - use links like gw2spidy.com to see market trends
  
• using karma to get trade mats instead of farming or paying gold on the TP - There are renown heart vendors that will sell cooking supplies, gear, gathering tools, even ore or wood for karma spaced all around the world. If you arent saving your karma use it like a second income instead of gold.

• any profitable recipes? - Bloodsaw, and other recipes that are karma bought - Global economy makes it almost impossible to craft for profit right now

• what type of things should you farm? armor/weapons, fine crafting materials, loot bags - high level and low level everything sells well now so farm there, middle levels are a bust.
  
• resource gathering: ore, wood, food harvesting? What areas are better? - High and low areas again.

• 5% listing fee and 10% sale fee - know it live it love it. Convert prices to copper then multiply by .85
  
• how to buy or sell effectively - buy orders
  
• should you undercut and by how much? - Undercut on single item sales like found gear, selling is first listed first sold, buying is last listed first sold.
  
• vendor or trading post and how to determine which to sell on - give yourself at least a 20 or 25% leeway so you can relist it. Never sell for just above vendor price. Right click on item, then chose sell on tp, hover over item and it will tell you vendor price in the bottom corner. Eyeball the prices and decide.
  
• buying mats and combining them to sell at a second level profit - logs to planks, mats to inscriptions, ore to ingot

• How to determine if using the mystic forge is worth the gamble in the long run - It takes lots of experimentation, but If you have the gold to spend then you can get lucky. Like the lottery
  
• what types of things can you make in the forge to earn gold - basic crafting mats, epic weapons, gear sets, food feasts
  
• mystic salvage kits (especially when the mats are purchased with karma) - see above
  
• salvaging, at what levels is it profitable or smarter to salvage vs sell items. also what kits should you use? - Low levels for copper and jute, high levels for gossamer, ecto, and orichalcum. Use crude on salvage items its the same chance at mats. Use mystic or master for yellows and any greens you want the sigil from. Only do level 74 or above rares for ectos.