UPDATED o1.18.o7 - originated from my journal~
Introduction: Vending is definitely a Gaian's way to earn huge amounts of gold in a short amount of time in the Marketplace. It's faster than polling and posting for 2k per day! Vending is something I picked up myself, without reference to a guide. I started this guide because so many users have asked me about vending~
Watching the Time Remaining page (starting from 0 minutes to 5) is mainly your hangout and watching the bids is your main job there. The goal is to bid low and hope that you win the bid. If you win, sell it for higher than what I bidded it for, but less than the item's Lowest Buy Price. This results in profit.
To start off with: Be sure you have a vending pass (1,000g) and trading pass (500g) which can be bought in the bank. It is useful to have a shop so that you are able to sell your items and make trades and offers with other users.
+++ I cannot guarantee that all the items you bid on will win. Losing happens and it's okay. =]
Vending Hints and Tips:
1. You need alot of gold to begin with - 25,000g - 40,000g or more would be a good start 3nodding
2. Figure out which item is popular and what is not - you'll be able to determine what sells fast and slow.
Items that sell fast are tickets (around 1.8g to 2.1g each?), donation items (not all are popular), sealed letters, etc. If you sell an item fast, you'll get your gold quickly and be able to work on more bidding with more gold.
3. Research the lowest buy price for items - it can help you determine the max amount of gold you should bid,
and the amount of profit you come up with.
4. Mistakes can happen often - Double check that you are typing in the correct amount always! It can happen
that you can add another number, and bid higher than what you wanted = your profit goes down. gonk
5. Learn to type your password in quick! - This skill is very important. As the time for bidding closes in,
it is important that you type in your password fast. Type too slow = time runs out and you may lose the chance to bid on the item.
*Note: I use Tektek.org's toolbar. It saves the password, so as I bid, the password is already there. No need for me to type it in!
6. Pay attention to the bid increments - This helps with bidding. You would be able to know how much you should bid.
7. Make "gibberish" biddings - Now, I don't mean like bid 9,837,453g for 40,000 worth Fairy Wings! Make sensible bids but don't make it end in zeros or fives. Usually, users bid in zero's or five's. Bidding gibberish is something I do and it does raise a chance of winning the item because a user would think that a bidder would bid a number that goes in their mind. Think opposite! Psychology!
8. Study other vendor's techniques - Do they cancel their bids before a minute is up? How high do they want you to bid before they cancel? Are their transactions high in number? How much did they sell in gold in their store? Are they currently online and watching their bids? Studying how they vend can determine whether you should bid for that vendor's item and how skilled they are in vending. If they cancel their bids constantly, you know that it's not really worth your time to bid for their items and it can be frustrating. Other vendors usually want high bids.
9. Make use of your Vending Log - The vending log can be found in the Marketplace> My Store> link under your avatar. (Available to users with a vending pass) The vending log will be able to tell you the bids/purchases you have made, the sells you have created, etc. Why should this be useful to you? It keeps track of the lowest bids you've made on the item which should help you to determine the price you should sell it at - Higher than what you have bidded obviously.
10. Pay attention to Inflation, Deflation, and Stagflation - Inflation is when items increase significantly in price. Do not buy items that have inflated sharply. (Which is why you should pay attention o_o) This may cause in loss of profit. Let's say you buy an item for 25k. As more items are added to the list, they will deflate. Now let's say more items are added and have deflated to 20k. You will have trouble competing with the other prices when selling. 25k - 20k = 5k loss or more in profit.
Sometimes inflation can be good (in selling mode), especially for items that sell fast. Let's say you sell an item for 25k that originally sells for 20k. Here you will have profit before the item deflates back to 20k.
11. Check the Store Price - Always check the Store Price (Underneath Time Left) when bidding or buying. It is important to know the price so that you do not overbid or buy for a higher price. Doing so would result in loss of gold.
Happy Vending!
- Other Helpful Guides:
Dr. Unoriginal's How to Be An Exchanger
GMD Rules & FAQ - Helpful to know the glitches occurring in the Marketplace!
Link this Guide!:
[url=http://xrl.us/t9s8][img]http://xrl.us/t9s7[/img][/url]
