Trade and Profit on the GTN


So, this afternoon I got home from work to check my various character’s sales and trading on the GTN (Galactic Trade Network). Since I generally post my trades for 2 days, I was very happy to see I received 5 emails which meant I probably cleared 60k in credits for a night’s work. YAY! I thought. But lo and behold one of those emails was a private mail from one person to me. Opening it up, I read it and immediately was amused. Why? Well read it for a moment and then I will explain my reply. I should have in retrospect screen shotted the reply, but please trust my, if nothing else I am a person of integrity. Anyways do read on:

star-wars-the-old-republic-07-15-2015-16-44-56-e1436993468583

 

 

Ok, when I read this I chuckled. First and foremost when it comes to trading I believe in free market. Make as much profit as you can but sell in such a way that is cost effective and quick to turn around with minimal effort and maximum efficiency. Secondly, I chose specific skills that would ensure that other than a time sink, I wouldn’t have to spend much for materials or time gathering. Slicing in this case is the premier skill when you are dealing with augments.  Also, I check the market for a the median price and then price accordingly to what the market bares at the time of my posting. Finally, I am neither ultra liberal nor left wing. Because I undercut my competition and still make profit I should be called a corporate thug who despises any sort of regulation. In retrospect, I am a trader that makes money. So…yup I got a solid laugh and 40k credits for a night’s work.

Look, I’ve seen this sort of thing on the forums of every MMO I have played. The bottom line is so long as the sale exceeds the overhead by at least 40% then it is a solid profit. I am in no way trying to drive the prices down, but I will sell at what profit I can based upon what I see in my trade research. There have been several times when the prices were so low I refrained from selling for a few days as I felt there wasn’t enough profit in it.

My reply:

Dear (name withheld out of decency),

Thank you for your business advice. I appreciate your advice and I’m always open to new ideas. However, I am neither liberal nor left wing. I sell at the median of what the GTN bares while still making profit. Due to my skill sets, this does not incur much in the way of overhead costs. I do wish you all the luck in the galaxy in your business endeavors!

Respectfully,

Jhexi

Well, there may have been a couple missed words as I didn’t screen shot it. But I assure you, I am never rude to my competitors. It’s nothing personal, just business. Now if I am making an epic item that does cost me dearly in materials and gathering, I wait until I know I can make a very solid profit out of it. Undercutting your competitors is a time honored tradition when dealing with MMO trading/auction houses. It takes maybe 3-5 minutes to research the item crafted on the GTN and make your offer. This is simple and clear. Now I’m not asking people to agree or disagree with what I do. But competition is a part of trading on the open market. As a trader/crafter you have to balance time, effort, and cost of the crafted item vs the price you offer to move your goods. As long as there is reasonable profit, there is no reason to inflate prices beyond what the market bares. Sort of basic economics.

Anyways, Jhexi is on her merry way to move more goods and services across the galaxy. If the day comes she is Star Wars The Old Republic-06-20-2015 1-07-01undercut too much, hell that’s what slicing runs are for on Yavin!!! I invite all commentary on this subject AS LONG AS it’s constructive and respectful. Anyways, drop a comment or two! Till next time, may you never get stranded in an asteroid belt and may your blasters stay true!

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4 responses to “Trade and Profit on the GTN

  1. You should have replied with: “Actually, I’m a socialist and want to give CHEAP AUGMENTS TO EVERYONE!” 😀

    To be honest, I’ve probably sold some lowbie augments for less than I could have got, but when the prices on those got too high compared to what genuine lowbies could probably afford, I always stopped myself. They still made a nice profit anyway. Plus, there’s always the benefit of lower prices resulting in faster turnover.

    Liked by 1 person

    • Oh I could have. Turns out my politeness got a good return from my competition. They were actually trying to be helpful. BUT I don’t mind selling a little cheaper if it benefits both me and the customer.

      Like

  2. Non-profit left-wing liberal, huh. Wow, just…wow. Does a game need that kind of conspiracy? They should have bought them and resold at a higher rate if they’re so concerned about the prices! 😛

    Liked by 1 person

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