8 July, 2013
by The Black Lion
Definition: A niche market is the subset of the market on which a specific product is focusing; therefore the market niche defines the specific product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that is intended to impact. (Thank you wikipedia)
In Guild Wars 2 a niche market is generally considered to be a market that has a small but regular demand, but little supply. Some trader’s also use the term to describe their own ‘unique’ set of items of which they profit from.
Being successful in a niche market is all about dominating it, these markets don’t tend to generate a large number of sales, so you want to make sure you’re offering the lowest price and making the most profit. Is it also the reason why a lot of trader’s keep their niche markets secret, competition is not profitable.
Here’s my advice for moving into new markets
- Build a strong list of profitable items that can be flipped regularly. Make sure that what you already do every day is completed as fast as possible, so you can use your valuable time experimenting in new markets instead of spending an entire afternoon re-listing new buy orders.
- Read, Read, Read. Check out all of the articles at Black lions profit, including our extensive gold guide and flipping guides! You can also keep up to date with your gold making tips at guildwars2tradingpost.com
- Think outside the box. Trust me when I say this, there are A LOT of small, almost useless markets that are great for flipping regularly! It’s also a good idea to check out older techniques and apply them to similar items, you never know what’s profitable again..
- Ask me if an idea is viable! I don’t mind helping people out, in fact the more people enjoying the challenge of “playing the Trading Post” the stronger the economy will grow. You can contact us here.
- Keep to your daily routine. A few regular habits are the backbone of regular gold income. Complete those dailies, keep your buy orders current, craft profitable components. When I started making gold, I wished I had daily “to-do” list for making gold. I couldn’t be bothered doing that, so I found the next best thing! my watch lists on Gold Wars 2!
- Sign up to our newsletter. Every “so often” we will send out exclusive newsletters packed with awesome flipping tips, speculation on future price rises and even competitions for subscriptions to premium tools!
I suggest checking out these “not-so”niche markets
- Chef Ingredients. Whilst it doesn’t fit my definition of a niche market where there is a regular supply and little supply it is the best place for beginners to get started in. Just check out our Fruit and Veg Investment article for some ideas!
- Crafting ‘Components’. Anything that is created through a profession, that is then used to complete a more complex recipe. For example, most items in Jewelcrafting requires crafted parts such as hooks, bands, settings and Filigrees to complete finished jewellry so it makes sense that there will be a regular demand for them.
- Runes & Sigils. Strong Runes.. Superior Runes.. they are all profitable fairly regularly, and with enough experimentation you will soon build a strong list of items that sell fast and make you a ton of gold in the process.
If you are serious about making gold, I highly recommend a subscription the Gold Wars 2 tool as not only will it save you a ton of time, you will also earn buckets of gold!
26 June, 2013
by Guest Post
Guild Wars 2 has given a much needed boost to the MMO world. Not only has it delivered a unique and enjoyable in-game experience in a genre that is overcrowded with stale combat and copycat features, but it has also delivered a new standard of high quality graphics and gameplay for fans to enjoy.
However, with improved graphics and more immersive gameplay, there is a much higher demand on your computer. While some Guild Wars 2 players have gaming systems that can easily play the game with the highest graphics settings, many struggle to get good frame rates on even the lowest of settings.
Fortunately, for those of you who are struggling to play Guild Wars 2 there is an easily affordable option: you can build your own gaming computer!
By building your own PC, you will cut out the middleman and save yourself a lot of money in the process. In fact, for just $500 you can put together a system that will be -powerful enough to play Guild Wars 2 on the highest settings.
In this article, I’m going to go over the components you’ll need in order to build a gaming computer that is capable of maxing Guild Wars 2 out for only $500.
Continue Reading →
23 June, 2013
by The Black Lion
June Speculation, 2013
Every so often, I hope to speculate on a small list of items that I feel have the ability to make a profit through long term investments, i.e speculation. These are generally items that I am currently investing in, and are almost always bought in volume.
- Potato‘s are currently buying at 15 copper each, which is the lowest I have seen them in a very long time! Looking at the long term graphs on Gw2spidy and using some basic maths to calculate the average monthly sell price, there is a possible return of 60% if you later sold them at 28 copper each.
- Egg‘s are also looking good at the moment with them currently selling at only 15 copper each, which is the lowest they have been in 2013! However, they have been influenced by event speculation and content patches in the past so it is hard to gauge an accurate average price for them. If I were to “guestimate” then I would hope that they would go for around 40 copper each, which is a return of 127%.
- I have also been playing around with strawberries lately, buying them at 30 – 33 copper each and then waiting for them to jump back up in price for an easy 10-15% return on my investment. Not only are strawberries are delicious, but they are also profitable!
P.S, The premium trading post tool, Gold Wars 2 now offers a free one hour trial for every account registered! So if you have been putting off buying the tool, you now have an initial 60 minutes to check out the awesome features. (or check out some profitable items even if you decide not to buy it!)
P.P.S, Black Lions profit is interested in hearing from you! If you have any questions or queries please do not hesitate to contact us here or here.
16 June, 2013
by The Black Lion
Its no secret that I have made a lot of my gold by flipping crafting materials in volume, specifically Chef Ingredients. However, I have never truly revealed the key techniques I use to guarantee a profitable return every time.
The “Set it & Forget it” method is one of these technique and I use it for markets which are either slow moving (low supply/demand) or have the tendency to quickly rise and fall in price. It isn’t exactly a “secret” technique but those new to the trading world may learn something new.
This method follows a very basic and memorable formula which rewards those who are happy to wait for their profit:
Lowest price + Time = Maximum Profit
The “lowest price” is the lowest buy point on the items weekly trading post graph, or if you want to play it a safer, a couple of copper more. To find the lowest point, search for the item on gw2tp.net, scroll down to the price history graph and slowly move your cursor along the red line until you find the lowest point.
The “time” part of the formula is simply that, spending your time “forgetting” about the buy orders and continuing with your normal gold making activities.
With this method, you get the maximum profit by buying at the lowest possible price and then selling once all buy orders are fulfilled. This can net you an extra 10% – 20% profit compared to short term flipping!
11 June, 2013
by The Black Lion
I’m just writing because I wanted to ask a few questions and tell you I really liked your guide on flipping items on the Trading Post in Guild Wars 2. I have a few questions I’m hoping you can answer:
- One of the bullets in your guides says “Then we check for market activity, is there a lot of movement in the graph?” I wanted to know – if there is or isn’t, what is the implication? is a lot of activity good? is a stable price better?
- Are there times of the day that are better for selling or buying?
- In your guide, using the Wrangler’s Bag example – you say “it’s important to note that only 10-20 bags are sold from the TP every day – what is the implication of that?
Continue Reading →
10 June, 2013
by The Black Lion
Today Gold Wars 2 has released a new update for their tool, including a brilliant knowledge base designed to share with you the best gold making guides around the web and to also teach you how to use all of the awesome Gold Wars 2 features.
Here’s a quick roundup of what’s new:
- A new Knowledge Base section of the site, with an article called “Getting Started“ to kick it off.
- New quick-link to the knowledge base under the “more” top-nav link.
- Much needed new icons to the user dashboard which links to all major section of the site.
- “Flippable items” link to the home page icons. This note worthy change should help new TP investors on their way to using Gold Wars 2 faster. If you have a better suggested search combination, please share it with us
You can find out more here.