GW2: Going for 1000 gold – Use your comparative advantage.

In economics, there’s competitive and comparative advantages. The classic example is the the case of the secretary (It’s an old example.) and the lawyer. The lawyer might be able to do the secretary’s job better than the secretary – thus having a competitive advantage over the secretary – but the lawyer’s time is better spent using his or her comparative advantage, being a lawyer. Being a lawyer will reap more profits in the long run.

I’m mostly selling off my extra elonian leather, just 2 or 3 at a time, making deldrimor steel and making a few expensive runes and sigils, such as the Superior Sigil of Torment and Superior Rune of the Scholar. All these things make me a lot of gold, comparatively speaking.

I’m not making bags, anymore, for instance. There’s almost always money to be made in making and selling bags, but they take a while to make, the mats have gotten expensive, and the profits margins are pretty slim on them, at least for now. It’s possible I might go back to them, at some point in the future, but, for now, I’m spending my time making and selling other, more profitable things.

When you’re playing the trading post, use your comparative advantage. Make the things that are going to make you the most money for your time.

Another nice pop in my gold total, yesterday. With this new event, the market seems more vibrant, things seem to be selling faster. That’s due to the need for mats to make the Spinal Blades Backpiece, of course, but it’s probably also due to people returning to the game for these events.