I've previously written about the 4 steps I used to get 100k in SWTOR by level 25 and that's probably a good starting point if you've just come in fresh off the shuttle and need to make your first credits.
I've also talked about the 3 ways that you can make money off the GTN, which is the "auction house" system of SWTOR, and that's going to be my jumping off point for this post, so if you haven't already read this post then I recommend that you give it a quick read.
I'm going to take a little time and share a few pointers as to how you can improve "playing" the GTN. By "playing" I mean the act of buying and re-selling items from the GTN without adding value to the items.
In this post I'm only looking at crafting materials as these items are the easiest to "play" the GTN with.
I've used these steps for about a week, spending maybe 10-15 minutes every day, and so far my profit is about 400k credits.
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| Thanks to these tips I can now call myself a bona fide SWTOR credit millionaire |
Here are my 4 basic tips to playing the GTN:
1: Don't waste time on cheap items
When selecting the items that you want to buy and sell you need to think about the time you invest versus the reward you'll get in the end.
There are a lot of items in SWTOR that has a reasonable sell through rate and a limited enough supply that they could be a potential candidate for buying up bulk and selling high. But many of these items have a very low price that will be very hard to drive up. If a bundle of 20 pieces of Neutronium sells for 2.000 credits then you may be able to push that price up to 2.500, but you'll have to sell an awful large amount of bundles before you get a profit that will make an impression on your wallet.
Try to stick to products that go for at least 5-10k credits per "common bundle". By "common bundle" I mean the bundle quantity that you are seeing most frequently. Some products are almost always sold in stacks of 20, while others may be mainly going in stacks of 5 or 2, typically depending on what the item is used for.
Naturally it will be a lot better to be able to squeeze out a 20% profit on a 10k item than a 1k item. Of course this will also require that you have more capital to begin with since the initial investment will become bigger.
I have made a list that contain all the products I've found so far that are interesting to try to buy and sell. I can then quickly run through the list and check out how the market is looking for each of my selected items.
2: Make sure that your chosen product has reasonable liquidity
Once you find an item that looks like it has a reasonable selling price it is often a good idea to do a spot check and see if the item is actually moving.
The presence of 10 auctions that each have a buyout price of 15k is not necessarily proof that people are willing to pay 15k for that item, just that that it is what the sellers are currently trying to get them to pay for it.
It can therefore be a good idea to make one or two auctions yourself at the average selling price and see if they get sold. This will confirm if there is a market for the item at this price point or whether there is a disconnect between the sales price and what the market is willing to pay.
This can save you from making a painful investment that looks like a great deal, only to find out that it was actually not such a great deal as no one wants to buy the item at the price that you need to sell it to get a profit.
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3: Track the price developments
SWTOR is a dynamic world and supply and demand is constantly fluctuating and creating new intersections, which means that prices can change significantly from one day to the next.
Be sure to keep track of the price development of your selected items. Note them down on a piece of paper or in a spreadsheet if you need to. The last thing you want to do is to dump a lot of money on what looks like a great deal, only to find that the market price for that item has actually dropped and you've just blown a bunch of credits straight out of the airlock.
Some price development is going to be driven by patch changes, which can create need for new items or reduce the need for them, so if you want even more of an advantage in the market then you may want to either make a character on the test server or at least have a close look at the patch notes or testing forums and see if you can get a hint of how the demand might change.
4: Limit your item inventories
This follows as the logical conclusion to the previous point. Since price changes can occur rapidly in SWTOR then that also means a risk of your precious items suddenly becoming more worthless than a bile of Bantha dung.
So try to keep a reasonable balance about how large stockpiles you keep in your inventory. Conversely you can also take a risk and build up a large inventory of items and hope that the price increases, but don't come crying when that fails and you're forced to vendor 50 stacks of Desh that you can't get rid of.
With these tips you should be a little bit ahead of the average Joe Daytrader and hopefully a little closer to a life in comfort on your very own flying Skiff, complete with golden underwear clad slaves (Please note that Light Speed Gaming does not endorse slavery in any shape or form, even if outfitted with skimpy garments made from precious metals)
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