This is to be a simple guide for all those that want or need to trade. Trading IS the most profitable activity in EU. It takes alot of time and resources. It is easy start and you can stay in the bussiness as long as you want, there are no skills or skill caps like other income generating activities.
Basic economy rule in PE is TIME=MONEY. Variations apply. Basic trading rule in PE is “Buy cheap, sell high”. Being a buyer’s economy, larger ammounts of resources are better priced. And to a certain buyer’s point, small ammounts are high priced too. Consider small ammounts anything under 20 PED and large ammounts anything over 50 PED.
I will elaborate on this, but you can easily be effective in trading if you buy common traded goods at 75% of the market markup (the markup 100%+ or TT+, not the total price) and you sell it back starting at 90% of the markup, and going towards 110% or more. These percents vary on each item and they will be explained later.
There are auction houses in all major cities, and most of the Amethera TPs that have Service Centers. The auction system works as a standard English Auction. There is a seller fee in place of 1 PED, and after VU 8 there is even a transport fee for mailing remotely bidded auctions.
The advantages of the auction system are that all offers are centralised and displayed on categories, offers can be evaluated and anybody can bid on the items as long as they have the cash. Winner’s Curse and Bid Wars are present in the PE Auction House. There is a time extension of up to 5 minutes on ending auctions if another bid is put in place, in order to allow notified bidders of the new bid. There is also a buyout feature present for accepting the maximum price set by the seller and obtaining the item immediatly without following bids.
The disadvantage would be that all prices are slightly inflated to cover for the auction fee. You can even loose on a sale if the final bid does not cover the TT price and the auction fee. This usually happens with cheap items such as low level armor and weapons. There are different behaviours on the auctions for different items. Being a buyer’s market (only buyers take active interest in trade) prices can sometimes be higher on larger quantities. On smaller quantities valued up to 20-30 PED, the prices are very unstable. Some resources sell for lower prices if in higher quantities, mostly because most bidders can afford to buy up to a certain ammount of resources. This is another disadvantage of the auction system, you get what you pay for, the whole quantity even if you wanted to buy just a small amount.
Equipment is sold as unitary lots, unlike stackable resources. There are unfair practices such as bidding on every cheap item, tt valued bids, inflation practices, usually by buying items one does need, increase the price, then sell at the artificially created price the gathered items. The markup on crafted items is always smaller than equally valued items that are looted. This is because crafting balances hunting and mining, and usually crafted items are of lower quality or durability than looted items. Always, the higher the value of an item, the higher the markup will be especially if it is efficient in several areas (all-around protection armors, efficient fast-damaging durable weapons).
All prices in the PE economy and at the Auction House are self-regulating and self-balancing. They balance closely the supply and demand. Inflation is very hard if there is no demand due to the auction fee. Nobody can impose a price on any item.
For the time, consider some major street markets:
- Port Atlantis – The biggest street market in PE. Anybody and everybody can trade there and there are alot of newbs around to sell basic items to.
- Camp Phoenix – The camp is missing some basic buildings, and as a starting point for new players, only sweating and farming are available. Usually older players trade new players for sweat, loot and fruits/dung with basic gear, weapons and armor.
- Twin Peaks – Mostly newb free, varies in population during the day. Here you can trader large ammounts of resources, weapons, armor and some skills.
- Ithaca, Zeus and Troy – not so much as a street market, but the auction houses are filled with shoppers, you can get a good deal on priced items in there.
- Always buy items under or at TT value. If you have the cash of course.
- Considering the rule above, accept payment in the form of TT valued items.
- Visit the shops alot. There’s a bargain in every shop, or at least it should be.
- When selling, do not go to the buyers unless their price and yours match. Always advertise. Selling is better than buying on the street market.
- When buying, the same applies, advertise what you buy, do not just go and sell your items to the first offer. Shopping is better at the auction house.
- Try to trade common goods, they are in large quantities, trade alot and you can profit from location, quantity and price change. If you want to know the most traded resources, check the first page on the clientloader, those prices are gathered from all ended auctions, even buyouts.
- On the street market, you can buy goods under the market price, normally the market price is set at the auction house, where the seller has to pay 1PED per auction.
- Items that are not traded over a period of time, increase in value. You can exploit this by selling items when an apparent price increase is imminent and there are not enogh items traded.
- Always prepare for VUs, server downtimes, and new features.
- Speculate what may happen in the future… buy obscure or less known items that may be part of an upcoming feature
Generic conduct rules
- Always advertise what you need the most and then whatever else you want to trade.
- Do not open a trade window with another player if he or she is not advertising or without mutual interest.
- Alwas ask permision to trade and request information in All Chat or in Private Chat.