Best Use of Gold ATM.

vampirenite
vampirenite Posts: 0 Arc User
edited August 2009 in General Discussion
If you can't beat them ... join them.

I have some Gold remaining on a PvE server and a PvP server and I am wondering what people think is the most profitable use of it ATM. (I don't intend to buy any more Gold using cash for a while)

I am not pleased with certain updates in particular the "shatter" implementation, but thinking on the bright side, there have been some improvements and the current Jolly Old Jones Event and high Gold prices creates opportunity to make enough to take the sting out of the losses incurred due to the patch.

With Gold prices around 180K -220K or more depending on server and time there are a few options I can think of.

Buy coin and then buy event items as cheaply as possible. Sit on them for a while until the event is over and prices have quadrupled (And/or catshop them at a profit meanwhile).

Buy Angels directly and do the same.

Do something else with the Gold.

By my rough calculations it would seem that buying Angels with the Gold directly and then trading them in at Jolly Old Jones is the most profitable.

Ideas, opinions?
Post edited by vampirenite on

Comments

  • StrangeScar - Lost City
    StrangeScar - Lost City Posts: 48 Arc User
    edited August 2009
    Sell in auction house for most profit, buy what ever you want with coints
  • _DarkSeph_ - Sanctuary
    _DarkSeph_ - Sanctuary Posts: 2,294 Arc User
    edited August 2009
    Sell gold for a crazy amount. Then buy cheap event items with the coin and sit on them a while until the prices revert to "normal".

    That in my opinion would net the highest profit for your gold.
  • TheGoliath - Heavens Tear
    TheGoliath - Heavens Tear Posts: 1,667 Arc User
    edited August 2009
    best profit right now with golds is from the cube's stashes
    [SIGPIC][/SIGPIC]
  • truekossy
    truekossy Posts: 7,021 Arc User
    edited August 2009
    TheGoliath - Heavens Tear wrote: »
    best profit right now with golds is from the cube's stashes

    Depends on whether or not your gold prices have hit 200k+ yet.

    If they have, just sell the gold, buy what you want with coins, and enjoy the profit.



    If not then yeah, use the gold to get perfect iron hammers for the 1 mil, use the 1 mil to buy gold, rinse and repeat.
  • Mr_B - Dreamweaver
    Mr_B - Dreamweaver Posts: 42 Arc User
    edited August 2009
    This is not a flame ok just my opinion#
    I think your a greedy bunch of arses,there are plenty of young people who cant afforf these prices and imho is ruining the game itself,i myself can affor it as im my own boss but i choose not too as this game is only content with making money.
    Now i dare say the gm will close this as i noticed if they dont lik what you say the cut you off dead,this game can and will be one of the greats if theymakers of the game get there fingers out and fix all the problems before making more money for useless items anyway thats my thought sorry if it offends you but hey **** happens
    regards
  • Belial - Heavens Tear
    Belial - Heavens Tear Posts: 972 Arc User
    edited August 2009
    Mr_B - Dreamweaver wrote: »
    This is not a flame ok just my opinion#
    I think your a greedy bunch of arses,there are plenty of young people who cant afforf these prices and imho is ruining the game itself,i myself can affor it as im my own boss but i choose not too as this game is only content with making money.
    Now i dare say the gm will close this as i noticed if they dont lik what you say the cut you off dead,this game can and will be one of the greats if theymakers of the game get there fingers out and fix all the problems before making more money for useless items anyway thats my thought sorry if it offends you but hey **** happens
    regards

    I never read a message with such a tone that still finished with 'regards'.

    Besides, being able to afford buying some gold here and there doesn't mean having to sell at a reduced price *just* to help "mr 14 y/o wtf bbq r thes prices al about?!!one" happy. Remember, this is people's hard earnt money which is funding the game servers and the GMs which moderate it - these people have the choice of whether to sell their gold at all and for how much for ;).

    It sucks for me too, I can't buy gold either on the AH since it is so expensive - but my patience will wait this one out to see what the prices will revert to once these sales stop. I wish I could merch my cube boxes for 100 game coins - at the moment, it might be a better option b:chuckle.

    On topic - Post #3 seems sensible from a moneymaking point of view, or use your gold to buy angels to get your event items this way.
  • DarkYin - Dreamweaver
    DarkYin - Dreamweaver Posts: 81 Arc User
    edited August 2009
    b:chuckle
    #6 is his own boss, but doesn't understand like basic economics. That's hilarious.
    I suppose you set prices to be nice, as opposed to maximize profit, eh?
    b:chuckle
  • Abysm - Heavens Tear
    Abysm - Heavens Tear Posts: 231 Arc User
    edited August 2009
    Belial - Heavens Tear wrote: »
    ?!!one

    I thought that stupidity died out in 2001, why am I still seeing it on an mmo forum?


    Oh, nevermind.
  • Zoe - Heavens Tear
    Zoe - Heavens Tear Posts: 3,814 Arc User
    edited August 2009
    DarkYin - Dreamweaver wrote: »
    b:chuckle
    #6 is his own boss, but doesn't understand like basic economics. That's hilarious.
    I suppose you set prices to be nice, as opposed to maximize profit, eh?
    b:chuckle

    You are just being an idiot. The idea isn't to maximize profit, its to keep your customers as you do it! Keeping prices low is the only way to do that, they can always find someone else to buy from.
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  • IceJazmin - Heavens Tear
    IceJazmin - Heavens Tear Posts: 4,206 Arc User
    edited August 2009
    Belial - Heavens Tear wrote: »
    I never read a message with such a tone that still finished with 'regards'.

    Besides, being able to afford buying some gold here and there doesn't mean having to sell at a reduced price *just* to help "mr 14 y/o wtf bbq r thes prices al about?!!one" happy. Remember, this is people's hard earnt money which is funding the game servers and the GMs which moderate it - these people have the choice of whether to sell their gold at all and for how much for ;).

    It sucks for me too, I can't buy gold either on the AH since it is so expensive - but my patience will wait this one out to see what the prices will revert to once these sales stop. I wish I could merch my cube boxes for 100 game coins - at the moment, it might be a better option b:chuckle.

    On topic - Post #3 seems sensible from a moneymaking point of view, or use your gold to buy angels to get your event items this way.

    I'll buy your cube boxes... and and I will even throw in some extra :P
    Too often we loose sight of life's simple pleasures. Remember, when someone annoys you, it takes 42 muscles in your face to frown, BUT, it only takes 4 muscles to extend your arm and slap that mother#$@%#^! upside the head.
  • IceJazmin - Heavens Tear
    IceJazmin - Heavens Tear Posts: 4,206 Arc User
    edited August 2009
    Zoe - Heavens Tear wrote: »
    You are just being an idiot. The idea isn't to maximize profit, its to keep your customers as you do it! Keeping prices low is the only way to do that, they can always find someone else to buy from.

    The only thing PWE controls is the prices in the cash shop, and those have not changed. Maybe we would be better off if they removed the option to buy gold in-game.... Than we would not have this silly arguments.

    And Zoe, how do you define greed? According to Franciscan Priests, if you own anything more than the clothes on your back, you are being greedy. I can see you use a computer, isn't that greedy to do when you could have used that money to help feed someone?
    Too often we loose sight of life's simple pleasures. Remember, when someone annoys you, it takes 42 muscles in your face to frown, BUT, it only takes 4 muscles to extend your arm and slap that mother#$@%#^! upside the head.
  • G_ree_n - Sanctuary
    G_ree_n - Sanctuary Posts: 248 Arc User
    edited August 2009
    truekossy wrote: »
    If not then yeah, use the gold to get perfect iron hammers for the 1 mil, use the 1 mil to buy gold, rinse and repeat.
    This is what I was thinking this morning, after I thought of buying a "discount" herc for my veno for $120. (Sell the gold in the AH, buy SoF.) But it turned out to be a completely fail plan due to many people on my server having already come up with it and SoF now selling for inflated prices as well. Back to the drawing board ...

    But yeah, I could deal with paying $5 for 750k.

    I sometimes wonder if anon posters like the OP are PWE employees trying to engage players in "focus group" type discussions. b:sweat
    [SIGPIC][/SIGPIC]
    Roll a barb on Sanctuary for hot cleric action. b:kiss
  • Belial - Heavens Tear
    Belial - Heavens Tear Posts: 972 Arc User
    edited August 2009
    Abysm - Heavens Tear wrote: »
    I thought that stupidity died out in 2001, why am I still seeing it on an mmo forum?


    Oh, nevermind.

    This is... a dig at me? b:scorn

    O noes! D: b:chuckle
  • Solandri - Heavens Tear
    Solandri - Heavens Tear Posts: 2,843 Arc User
    edited August 2009
    Mr_B - Dreamweaver wrote: »
    This is not a flame ok just my opinion#
    I think your a greedy bunch of arses,there are plenty of young people who cant afforf these prices and imho is ruining the game itself,i myself can affor it as im my own boss but i choose not too as this game is only content with making money.
    One more time for the younger players who haven't yet had a chance to take an economics course:

    Gold sellers aren't driving prices up. Gold buyers are. The JJ event and sales are causing a huge spike in demand for gold. The buyers are snapping up all the low-priced gold, leaving only the high-priced gold. When a gold seller goes to list his gold for sale, he sees the high-priced gold, and lists his gold at a slightly lower price. If you want to blame anyone for "ruining the game" with the high gold prices, you need to look no further than the "young people who can't afford" to spend $$ to buy gold. They're the ones driving up the price, not the sellers.

    With all the sales going on, if anything there's been a huge increase in the amount of gold sellers too. Normally that would actually cause gold prices to go down. So the sellers are actually doing their best to help you and lower the gold prices. It's just that the demand from the buyers far far exceeds the supply from the sellers, causing the price to go up.
    Zoe - Heavens Tear wrote: »
    You are just being an idiot. The idea isn't to maximize profit [per item], its to keep your customers as you do it! Keeping prices low is the only way to do that, they can always find someone else to buy from.
    Whoa! Zoe is right! His terminology is a bit mixed up (I've corrected it), but he has the right concept.

    Setting your price high does not maximize profit. Generally, profit is maximized at the lowest price which is still profitable. You make less profit per item, but you sell a whole lot more items. My cat shop is undercutting my competitors by about 1k on nearly every Jolly Jones item. But I am making a fortune because people are buying from me instead of from them.

    So low prices means maximizing profit and keeping your customers. It's win-win.
  • DarkYin - Dreamweaver
    DarkYin - Dreamweaver Posts: 81 Arc User
    edited August 2009
    Zoe - Heavens Tear wrote: »
    You are just being an idiot. The idea isn't to maximize profit, its to keep your customers as you do it! Keeping prices low is the only way to do that, they can always find someone else to buy from.
    b:chuckle Nah, you just have no idea what I said.
    The idea is ALWAYS to maximize profit.
    Profit maximization has nothing to do with highest price.
    Profit = (Price * Quantity Sold) - Cost.

    "Keeping customers" is a part of profit maximization. Since you didn't seem to catch that, I have to wonder who was being an idiot? Hmm... b:laugh

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