GW2: Going for 1000 gold – Day 6

Remember the magic formula

I’ve talked about making money on the trading post before. Most of what I wrote is still very pertinent. The way to make gold hasn’t changed much.

One thing you should remember, though, is the magic formula for breaking even. If you just throw stuff up  on the trading post and blindly pick a price, it’s possible you could lose money (Most of us are too greedy for this to happen, but it’s still a possibility.). When you put something up for sale, don’t forget the Black Lion Trading post gets a cut – 5% for the listing and 10% on the sale.

So here’s the magic formula for insuring you make a profit:

BEP = Cost + .15 x BEP
(Cost is the total cost of your item, as determined by adding up the cost* of the mats needed to craft the item. BEP is the break-even price. You have to set a price higher than the BEP to make a profit.)

Skipping a little math…
BEP = 1.18 x Cost

All you need to know is if you list your product for 1.18 times the cost of your product you’ll at least break even. Anything more is profit.

*Even if you gather your mats, use the trading post for determining costs. That will give you a reasonable cost basis for the item you’re listing. Don’t forget you can always just sell your mats, so what’s the point of crafting and selling something if you can just sell the mats and make more gold? That’s why you want to figure your costs based on trading post prices.

Today’s total is about 213 gold, a modest gain of about 10 gold.

I bought 100 giant wintersday gifts so that was a little drain on my gold, but I think what’s inside them is worth it, especially the chance to get one of the ascended back pack recipes. I have them both, so now I just sell them.