Guild Wars 2: 5 tips for making money on the trading post – Tip 1

by manylaughs on November 14, 2012

 

Tip 1: Learn a craft and max it out

Learn a craft. Maybe that seems obvious. You craft and you sell the gear you craft. Pretty straight forward, right? But selling that gear you’re crafting gives you something invaluable for making money on Guild Wars 2’s trading post. You see,  it’s actually possible to make money on the trading post without crafting. By exercising the time-honored principle of buying low and selling high, you could get by without a craft. For instance, you could buy orichalcum ore when it’s price is too low and you could resell it when the price rises.

But how do you know when the price is too low?

Buying low means you have to know the market, you have to know what’s a good price and what’s not. You have to develop an understanding of the prices on the Black Lion Trading Company (BLTC), and the best way to develop that understanding is to start crafting and resell what you make on the trading post. The more you buy and sell from the trading post, the more knowledgeable you’ll get about those prices.

The nice thing about crafting in GW2 is you can make money from all the crafting disciplines. There are eight crafting disciplines: armorsmith, artificer, chef, huntsman, jeweler, leatherworker, tailor and weaponsmith. While all of the disciplines can make you money, don’t begin as a chef, especially if you’re new to crafting. Cooking can be profitable, but it’s probably harder to level than any of the other professions, plus the food you cook isn’t usually as profitable as selling gear. All of the other disciplines make things that sell well, so choose whichever craft might complement you characters.

Once you’ve chosen a craft, focus on maxing it out. You need to be a 400 level, max level, crafter to make endgame gear. Not only does endgame gear sell a very well, as a rule, but it also commands a higher price. Higher prices typically translate into higher profits and thus more money for you.

Depending on how much gathering you’ve done, maxing out a craft will cost you between 1 and 3 gold. If you don’t have the mats, don’t bother gathering – just buy them from the trading post, if you can afford it. Gathering all the mats you need to level your craft will just take too long.

If you focus almost exclusively on crafting (Also a great way to level, because crafting is worth lots of XP.), you should be able to max out your craft in 2 or 3 days. Even if you don’t focus on it, you should be able to do it in a less than a week.

[Tip: Check the BLTC price of anything you make while you’re leveling your craft. You’ll be surprised what you can sell for a profit, plus you’ll start learning those market prices, right away.]

Next post: Tip 2. Know your costs.

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