GW2: Going for 1000 gold – day 5

by manylaughs on January 7, 2014

Golden

Yesterday, I showed you my total hadn’t increased. Today, my starting total is over 200 gold, giving me the Golden title for the first time.

gw21-7

In the past, when I got to around this level, I would always exchange my gold for gems. I should tell you, I just put $50 into the game when I came back 2 months ago. I won’t convert any of this to gold as that might significantly impact this quest. I might buy the new, Black Lion Introductory Package, but I haven’t made up my mind about that. At the current price, it’s tempting, but I’ll let you know if I do.

The reason my total didn’t go up, yesterday, was because my damask didn’t sell. Usually things on the trading post will eventually sell, if you’re patient – there’s that word, again. But I expect the price of damask to keep going down. More people are realizing there’s a bit of money to be made selling it. Plus people who could craft damask, but were making it to outfit their characters probably are starting to finish their ascended gear. That means those people are going to start selling their extra damask on the trading post. This is going to increase the supply and drive the price down.

With that in mind, I relisted my damask at a lower price than I originally listed it for – it sold right away. Patience will usually, almost always, make you money, but knowing when to abandon a position is also critical to making money. You’ll learn to recognize market movements over time and you’ll know when it’s a good time to relist something at a lower price. If you’re unsure, just leave it on the trading post – you can always relist it later.

The bulk of the rest of my money came from making a deldrimor inscribed dowel – another sought-after ascended item, which I made entirely from gathered mats, making it basically a freebie. It sold for around 24 gold.

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