One of the major sources of earning is the Galactic Trade Network; buyers and sellers contact each-other and then trade with their requirements. This might not be a very quick method, but once you get some experience; you will enjoy it.
The Pricing Strategy!
One of the important factors in the market is the force of the price. Everybody puts a little higher than that of his total expenditures on the production of an item. Sometimes, to beat the other sellers one might put on a lower price to get more buyers.
Every seller does it until he is rich already or has other means of earning. You should be sure that your price is not affecting the market’s state as it may harm the general market.
Long run producers know that a big cut in the price is not very useful and not worth the time. Your cuts should not be more then 5-7%, and you should keep it in mind that other sellers are there too. You may make a lot of profit or might have to bare a lot of loss.
High-Price items have a constant price, but they change too. It is usually when a new seller comes into the market (low-price items are easy to get so buyers and sellers keep on entering the business) and forces you to share the profit.
There are times when low-priced items make a lot of profit too, as if there are no other sellers of that particular item, and it is in a great demand.
You should also keep a record of the general market, the prices on what the goods are sold and the prices which the buyers prefer. The market keeps on changing constantly, but the average prices are usually the same.
When you have some experience in the market, you will know when the prices will rise and when the prices decline – This will help you in the future aspects and long-run.
How To Sell Items in Galactic Trade Network
Choosing what to sell is a very important factor, if you choose something, which has no demand, then all your hard work is useless.
Experienced players suggest to search and sell materials as all the crafters are in need of supplies. They want to save the time and directly craft items instead of searching the materials themselves.
Cybertechs, Armormechs and Armstechs usually ask for Scavenged metals or compounds. Consumables and the buff items are good in the market as well; they are quickly consumed, and their demand is higher. You should not invest in Weapons and Armory unless you are selling the top-most.
Nobody wants to spend their money on bad metal; all you will do is waste your energy and time. Although, if you are very sure that your items are quality and good in price…then you should expect a lot of profit just like the other case.
How To List The Items in Market
Now that you know what to sell, you should also know that how and where to sell them. You can simply sell your items by listing them onto the Galactic Trade Network.
Make sure that you list them properly, and they attract the buyers. Crafters are in the need of materials, so they should go into the Crafting Materials category. As these items are usually sold in bulk, their prices are a little cheaper than the ones which are sold separately.
Your packs (number of items) should be reasonable, not very much and not very least. Four would be a good number for the crafting metals. The artifact quality crafting materials are more valuable and rare. These items are to be sold separately as they are more expensive and few people buy a couple of them at once.
In short, you should observe the GTN before you start your business. Look at the items which are sold the most and the ones which are just lying there.
See the profit/loss margin and then decide wisely – Items, which are useful but not in the market will get you a lot of profit if you can keep a hold on them. Again…every business has its ups and downs so don’t give up so early!