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wahmbulance IMPORTANT NOTICE! 09/09/07 wahmbulance
It is with deep regret that I announce that this thread is hereby decommissioned due to possible and/or intentional misinterpretations of the dated content within.
It is unfortunate that the tips, tricks and/or strategies as aforementioned may or may not be applicable within the constraints of the new marketplace format.
This document is intended for reference only.
Please feel free to contact me with additional questions or concerns pertaining to this issue. Your request will be replied to in the order it was received.
VENDING:
An Exclusive Primer for ICU Members
By: Tamcharles
An Exclusive Primer for ICU Members
By: Tamcharles
For your pricing needs I recommend the GCG:
Well I figured I might contribute to the guild in some fashion outside of trolling and pseudo-flaming for once, so here goes. Nothing too fancy, just some helpful and unofficial tips in becoming the best vendor you can be.
It is after all, the second most lucrative thing you can do on Gaia besides taking arts commissions.
CHAPTER 0. The nitty-gritty details and a caution.
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Now before we begin... vending is NOT the same as exchanging. Vending does not require interpersonal interaction with other users. Also, I did not make this guide on my own, it's a conglomerate of information from other venders, vending guilds and various price guides. I can't guarentee results. With vending, a single mistake can possibly cost you a night's worth (or more) of profit. In fact, a bad decision could bankrupt you. So vend at your own risk.
Common vend/exchange terms:
1k = 1000g
AB = Auto-buy
SB = Starting bid
TO, T/O = Taking offers
PURE = Gold only
Remember, venditor emptor (seller beware) and caveat emptor (buyer beware) both apply on the vend!
DOUBLE CHECK YOUR PRICES! Don't just trust any ol' price guide, they are not the law but merely suggestions. Even the GCG.
It's not a place for the meek, it's harsh and you'll soon see why.
You are a vender here. Your sole goal is to make a profit. You are not a charity or a bank. Don't let your morals or ethics get in the way of your profit. Exploit or be exploited. I will discuss this in depth in a later chapter.
Common vend/exchange terms:
1k = 1000g
AB = Auto-buy
SB = Starting bid
TO, T/O = Taking offers
PURE = Gold only
Remember, venditor emptor (seller beware) and caveat emptor (buyer beware) both apply on the vend!
DOUBLE CHECK YOUR PRICES! Don't just trust any ol' price guide, they are not the law but merely suggestions. Even the GCG.
It's not a place for the meek, it's harsh and you'll soon see why.
You are a vender here. Your sole goal is to make a profit. You are not a charity or a bank. Don't let your morals or ethics get in the way of your profit. Exploit or be exploited. I will discuss this in depth in a later chapter.
CHAPTER 1. Your connection speed and you.
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I can't stress this enough. If you truly want to be fast at making gold, you need a fast connection. If you want to be the one to grab those cheap sealed letters or underpriced donation items, you need to have a FAST connection speed. If yout don't have it at home, consider libraries, school comp rooms, or other means. You can be successful at vending on a slow speed, but it's alot more difficult.
Oh, and copy-and-paste your password. Everyone else does, so you need to in order to have any shot.
Oh, and copy-and-paste your password. Everyone else does, so you need to in order to have any shot.
CHAPTER 2. Know your commons/rares sellbacks.
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You'd be amazed at how many people sell trunk/giftbox items on the vend for less than sellback. This is one of the quick ways to make a buck. Consult a priceguide and try to remember as many as you can. I've bought more than my fair share of android prostetics and fresh grass skirts for less than sellback. Keeping a running memory of these is helpful, because if you try to look up the price the item will be gone before you get the chance.
CHAPTER 3. Something's fishy.
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Know your math. People seem to love selling large amounts of fish on the vend for less that what they could get from Logan. Seedkins and Biters seem to be particularly confusing to a large portion of the gaia populace. If you can do the math in you head, you'll come out on top every time.
EX: 75 Seedkins - Sold on vend for 350g. Sellback = 525g. Profit of 175g.
It might seem small, but every little bit does help. The justification for profit is profit.
EX: 75 Seedkins - Sold on vend for 350g. Sellback = 525g. Profit of 175g.
It might seem small, but every little bit does help. The justification for profit is profit.
CHAPTER 4. Buy the cheap items.
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Know what you are buying and know the profit margin. Don't buy an item for 12,999 when there are 5 more going for 13,500. The best you could make is 250 gold, and that's way to much to spend both money and time wise. Look for a decent margin.
CHAPTER 5. Price Gradients.
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Another tactic is to search for item value gradients such as Letters being worth less than the item. Buying the letter, opening the item then reselling the item for more is something that venders often do.
Another aspect could be in regard to if you have a large supply of a certain item. You can buy up other items up to the point that you want to sell at, usually 2-3 itemsm then you can sell at the lowest on the vend price. If you see anyone selling lower, just buy em up and put it up at your price.
Another aspect could be in regard to if you have a large supply of a certain item. You can buy up other items up to the point that you want to sell at, usually 2-3 itemsm then you can sell at the lowest on the vend price. If you see anyone selling lower, just buy em up and put it up at your price.
CHAPTER 6. Lowest price = fast profit. So undercut!
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Trying to always be the lowest on the vend isn't easy, but it's the way to make the fastest buck. But someone else just put an item in lower...
Undercut, undercut, undercut! If someone puts an item in for less and you can afford to sell it for lower, put it in at 1g or 5g less. Try your best to keep your prices low so they sell first. The more transactions you make, the more profit will follow.
Undercut, undercut, undercut! If someone puts an item in for less and you can afford to sell it for lower, put it in at 1g or 5g less. Try your best to keep your prices low so they sell first. The more transactions you make, the more profit will follow.
CHAPTER 7. Those lovely low-ball PMs.
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Nine times out of ten, someone will either PM you with a stupid/begging offer, or offer you a decent amount but a few k less than you are asking. Don't send trade.
More than likely this person will go and sell your item up on the vend, so make your own rules. If you are uneasy about selling, don't do it. Someone else will come along to buy your item.
More than likely this person will go and sell your item up on the vend, so make your own rules. If you are uneasy about selling, don't do it. Someone else will come along to buy your item.
CHAPTER 8. Those "worthless" items = good investments.
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I love how people sell "junk items" for 50 - 100 gold. Funny thing is, alot of vendors just let these items sit. Buy them, and buy them constantly. You can sell most the items later for 400g. That's a 400% + profit! So what if it's only a few hundred gold? If you buy enough of them, you'll be making more than you would with a great deal of other items. Which brings me to my next point.
CHAPTER 9. Store items - Boo, hiss.
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I know some people make a decent amount off of them, but I find store items to be time consuming and weak in profit. Aside from a small list of items, most of your commons will sit and rot in your store for a while before someone buys them. Again, if you see an item for less than sellback, buy it, but be wary of items that are within 75% of store price. This excludes Duckys, Bao and Fairy Wings though, as they are decent enough moneymakers.
CHAPTER 10. Cut your losses.
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So you spent 50k on donation letter(s) thinking you would make some cash, and honoez! A whole bunch just came up for the same price. Sell the letter off and take a little loss. You need to have a steady gold supply, and getting bogged down trying to make a tiny profit or even breaking even can harm you greatly. If you get truly good at vending, a small loss will become miniscule.
CHAPTER 11. Dealing with misprices.
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So now you've made some profit and you've accidentally sold an item for far too cheap. Perhaps you forgot a zero or typed a 0 where a 9 should've been. Try PMing the buyer, ask nicely, explain the mistake but if they don't reply or say no. Drop the topic. You screwed up... plain and simple. There is a second confirmation window that requires your password for a reason. Learn from the mistake.
What about if you pick up someone elses misprice? Well, this is purely upto you. However, as a vender your concern is profit and while I won't tell you what to do in this situation. It's perfectly fine to take the item and ignorelist the user. It's not your concern and the vend rules are clearly in your favor. Don't feel bad, you just made a profit.
What about if you pick up someone elses misprice? Well, this is purely upto you. However, as a vender your concern is profit and while I won't tell you what to do in this situation. It's perfectly fine to take the item and ignorelist the user. It's not your concern and the vend rules are clearly in your favor. Don't feel bad, you just made a profit.
CHAPTER 12. Dealing with hackings.
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Ooooh... now I hate these. Sometimes people will get their accounts hacked and the hackers will sell their items for 1g or very cheap. When you suspect that those items maybe involved in a hacking, got to the Q&F and GCD to confirm it. Make a thread about it if necessary. Read up on the seller's posting history.
If it is indeed a hacking, send the items back in a trade with a reasonable title but DO NOT complete it. Show the user that you are willing to return the items but demand compensation (at least to break even). Also, wait for a mod to formally get back to you. I've heard of situations where items were returned to the user only to have the hacker sitting there ready to do it again. Wait for formal instructions from a mod and be firm. Vending is not a game.
If it is indeed a hacking, send the items back in a trade with a reasonable title but DO NOT complete it. Show the user that you are willing to return the items but demand compensation (at least to break even). Also, wait for a mod to formally get back to you. I've heard of situations where items were returned to the user only to have the hacker sitting there ready to do it again. Wait for formal instructions from a mod and be firm. Vending is not a game.
APPENDIX I. The Gaian Rules of Acquisition.
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Now this is intended as a joke of course but it's something that all venders should take to heart.
Gaian Rules of Acquisition: http://www.gaiaonline.com/guilds/viewtopic.php?t=1398716
Enjoy.
Gaian Rules of Acquisition: http://www.gaiaonline.com/guilds/viewtopic.php?t=1398716
Enjoy.
Well, that's it for now. I'll post more when I can think of some things... I hope you found this informative. smile
