Money Making Guide

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Money Making Guide

Post by Izurah on Thu Jul 10, 2014 12:58 pm


Vending/Merching

Descriptive Information: You'll be buying items off of players for cheaper than the norm, then selling them for the standard amount.

Mandatory Funds: 5,000 Gold
**Items I personally recommend using: Extensive/Masterwork Alkahests, Raw Crafting Material (example: Essences, Ores, Fibers), Strongbox Keys, Superior T15 Fodder items (Yellow color), and Master Enigmatic Scrolls.
**Items may change at any given point in time. I personally chose these items for you because of high demand and (for most items) the price has fluctuated barely over time.

Warning Label: This method of profit is very risky.

Steps:
1) Must have at least 5,000 Gold to start. (Bare minimum)
2) Search for items on broker that sell well
3) Click the tab "Asking Price" multiple times until you see it switch to "Asking Price per Unit" (Or something similar to it) || Make sure as well that you click it enough times to where it shows the lowest unit price not highest.
4a) Limit your search to negotiations only
4b) If none are up for negotiation, go back to step #2
5) Offer for the item, and undercut by 5-15% (Off lowest unit listed)
6) If they agree, skip to step #8
7a) If declined, find new person with same item
7b) If declined and no other items are listed, go back to step #2
8) Once you have successively purchased your item(s), it's time to sell.
9) List your item(s) in broker for what is given.* (Do not raise the price, nor lower, see below for more details).
10) Go level yourself up or do quests while you wait.
11a) Someone has offered the amount you asked for, accept it. Repeat process from steps #2-11.
11b) Someone has offered less than the amount listed, decline and continue what you were doing.
11c) Someone has purchased your item(s), repeat process from steps #2-11.


Q&A
__________________
Q: Why must I not adjust the price?

A: Reason be, if you raise the price of the listed items you have a much, much lower chance at selling said item(s), and if you lower the price you will either lose profit, or lose more gold than you put in purchasing.


___________
Q: What if I don't have Elite Status? How much will that effect my profit?

A: If you don't have Elite Status, you MUST undercut the seller by at least 10%. Having Elite Status plays an easier part in vending. Here's the benefits of Elite Status that are relevant to this method:
[Brokerage Listings: 50]
[Brokerage Listing Fee: 0%]
[Brokerage Sales Fee: 10%]


___________
Q: How is it risky?

A: Good question. Items fluctuate in price all the time due to supply and demand. When the demand is high, and the supply is low, the price skyrockets. When the demand is low and the supply is high- you can expect them to sell for at least half of what you are thinking. The trick is knowing when to buy in order to make profit.

_________________________________________________________________________

Feel free to ask me any questions or concerns about this method. I'll be happy to help.

_________________________________________________________________________


Last edited by Izurah on Sun Jul 13, 2014 4:53 pm; edited 5 times in total


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Re: Money Making Guide

Post by Izurah on Thu Jul 10, 2014 12:59 pm

Absolute Value & Broker

Descriptive information: Some items have an absolute value, meaning no matter what the price is on the Trade Broker, you may sell it to a merchant. This method will allow you to use that to your advantage to make some small amount of gold. As little as it may be, you will be making profit with NO risk. It's the perfect way for those of you who are either short on gold, or find Vending too risky.

Mandatory Funds: 30 Gold
Items to look for in Broker: Amethyst (30 Gold sell), Pearl (50 gold sell), Ruby (100 Gold sell), Sapphire (200 Gold sell), Emerald (1,000 Gold sell), Diamond (10,000 Gold sell)

Steps:
1) Search in Broker for one of the following listed above.
2) Limit your search to negotiations. If no listings are up for negotiations, search for another item.
3) Find a listing that is a few gold short of its gold sell value. If none are lower than the gold sell value, search for another item.
4) Offer what they have asked. Do not offer less.
5a) If they accept, take the item and sell to a merchant. Repeat process.
5b) If declined, repeat steps #1-5.

Q&A
______________

Q: What are the purpose of each of these items?

A: There is no specific purpose for the gems in TERA. The only reason they are in the game is to put gold into the pockets of our toons. Don't ask me why people ask for lower than the gold sell value. I couldn't tell you, but I can tell you it makes it easier for us.

_________________________________________________________________________

Feel free to ask me any questions or concerns about this method. I'll be happy to help.

_________________________________________________________________________

Reaching Level 40 & Reaper

Descriptive Information: Once you have reached level 40 you are then eligible of creating a Reaper. The Reaper starts at level 50 and after the Prologue becomes 58. From there most quests give you +100 Gold, due to you completing higher level quests.

Requirement: Must be at least level 40 and have a character space available

Mandatory Funds: None


Steps:
1) Reach level 40
2) Create a Reaper
3) Complete quests

Q&A
______________

Q: What happens if I do not have a free spot left?

A: If you do not have a free character space, you have three options:
1) Delete a toon that you do not play as anymore.
2) Buy a Character Slot off of Broker, Outfitters, or advertise "Buying 495 EMP".
3) This method is not for you.

_________________________________________________________________________

Feel free to ask me any questions or concerns about this method. I'll be happy to help.

_________________________________________________________________________

**More methods coming soon


Last edited by Izurah on Sun Jul 13, 2014 4:51 pm; edited 7 times in total


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Re: Money Making Guide

Post by Izurah on Thu Jul 10, 2014 1:03 pm

Enchanting to Gain Profit
-Provided by Ruby.Roze


Ruby.Roze wrote:Alright brief test complete.  Results: profitable, but higher risk.

I used SM gear as my reference (my priest is about to level there, figured I'd check it out).
-enchantable item (Demonsbane gloves +0) = 200
-enchantables (ranging from uncommon to superior) = 50-150 depending on your RNG
-enough godly/refined godly alkahests = 1

TOTAL COST ~ 300, assuming you bought everything you need off the broker.  +9 Demonsbane gloves often go for anywhere between 600 and 950.  so you just doubled your investment.

Money banks right?  The kicker is people don't BUY +9 Demonsbane gloves very often.  Maybe once a day.  Additionally this method only really works with low-tier gear.  The margins between +0 and +9 don't increase a whole lot until you get to the tier 14/15 gear (at which point godly alkahest is useless).  With Izurah's method your items should be flying out of your inbox (often with better profits).

So yes, enchanting and re-selling gear can be profitable but it is a little more risky.

Quest Gold Boosters
-Provided by Ruby.Roze

Ruby.Roze wrote:

Descriptive Information: Once you have reached a level where you're making decent money off side quests it becomes profitable to purchase a 100% Quest Gold Booster (QGB).  The idea is you do as many side quests as you deem "worth your time," and you get paid double for completing them.  This becomes exceptionally profitable in the higher levels.

NOTE this guide can be ignored by Elite players.  You guys have a gold booster for free.  Use it lots.

Requirement: Must be willing to do side questing, and the quests must be relatively profitable (personal threshold is 5-10 gold/quest)

Mandatory Funds: ~200 depending on broker prices


Steps:
1) Purchase a 100% QGB off the broker.  Duration varies, see below for more details.
2) Complete side quests and high-paying main quests, but DO NOT TURN IN YET.
3) Activate the QGB
4) Run around turning in quests like a bat out of hell
5) Repeat when QGB times out

Q&A
______________

Q: Why shouldn't I just activate the QGB right away and keep going?

A: By all means you can.  If you're level 58 or higher (yes you, my fellow Reapers) this is perfectly fine, you should be able to make enough to keep the QGB investment profitable.  However, if you gather a large number of quests all at once you can save a little time on your QGB by completing the grinding stuff while you're "off the clock."

Q: How long should the QGB last?

A: That depends on you/your funds.  I personally prefer the 10-hour 100% QGB.  For only ~200 gold they last a long time and often pay for themselves within an hour or two of leveling.  Remember, that's 10 IN-GAME HOURS.  If you want to get QGBs with more time on them, just remember that some (like the 1-day booster) are counted in REAL-TIME.  If you're preparing for an 18-hour quest grind fest this option can be considered, but such endeavors are not for the faint of heart ;) .

Additional Notes:

These boosters become especially handy once you hit 60.  There are a number of high-paying quests as soon as you hit max level (Discover Noctenium, the Etching guide, etc.) worth thousands by themselves.  You are also immediately acquainted with the Jax Trust and Unified Theory Institute factions/dailies, 8 super-easy and fast quests worth 800-1k with a 100% QGB.  These quests alone pay for the booster, not including the 9:45 you'll have left to use as you wish (Nexus perhaps? ;) ).

I hope this helps.  Happy Questing!


Last edited by Izurah on Tue Jul 15, 2014 12:11 pm; edited 3 times in total


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Re: Money Making Guide

Post by Nocteau on Thu Jul 10, 2014 1:14 pm

Thanks so much Very Happy I'm sure this will be very helping for people learning/wanting to learn how to merch.


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Re: Money Making Guide

Post by Izurah on Thu Jul 10, 2014 1:19 pm

Nocteau wrote:Thanks so much Very Happy I'm sure this will be very helping for people learning/wanting to learn how to merch.

I hope it does help. It's really risky though, so I'm going to post some different methods, that are much, much easier and with little-to no risk. :3


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Re: Money Making Guide

Post by Wynifred on Thu Jul 10, 2014 6:09 pm

Ahh thanks for posting this =]


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Re: Money Making Guide

Post by Izurah on Thu Jul 10, 2014 6:10 pm

Wynifred wrote:Ahh thanks for posting this =]
I hope it becomes useful to you. c:


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Re: Money Making Guide

Post by Ruby.Roze on Fri Jul 11, 2014 4:06 am

Thank you for the guide Izurah!

Question: is it also viable to buy +0 gear, enchant to +9, and then sell? I know there's a significant price increase but idk if it's worth the time/effort.


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Re: Money Making Guide

Post by Izurah on Fri Jul 11, 2014 6:26 am

Ruby.Roze wrote:Thank you for the guide Izurah!

Question: is it also viable to buy +0 gear, enchant to +9, and then sell? I know there's a significant price increase but idk if it's worth the time/effort.

You are quite welcome hun. I hope you will be able to use this to your advantage.
To be honest, it it not worth it. The amount of money you spend in using Alkahests and Fodders will be equal, if not more than the amount gained.


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Re: Money Making Guide

Post by Azora/Melani on Fri Jul 11, 2014 12:35 pm

Thanks Iz this sounds like agreat way to make some money, im going to try it Smile
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Re: Money Making Guide

Post by Izurah on Fri Jul 11, 2014 4:15 pm

I'll have an update soon!
This update will consist of items that I recommend using for Vending/Merching.


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Re: Money Making Guide

Post by Izurah on Sun Jul 13, 2014 4:44 pm

Thread has been updated!
Information regarding update: The first post was rearranged to match the set up of the second post. Color text was given to the categories that divided each process and information. Changed first post warning label. Added recommended items to use for Vending/Merching.

Please tell me if anything needs to be fixed or adjusted. c: Thank you very kindly.


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Re: Money Making Guide

Post by Izurah on Sun Jul 13, 2014 4:48 pm

Quick update: Change Font to be more readable.


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Re: Money Making Guide

Post by Ruby.Roze on Sun Jul 13, 2014 6:23 pm

I can vouch for this process.  In one morning I made almost 1k with minimal effort (nothing compared to Izurah's 200k claim, but hey I only started with 3k).

Izurah wrote:
Ruby.Roze wrote:Thank you for the guide Izurah!

Question: is it also viable to buy +0 gear, enchant to +9, and then sell? I know there's a significant price increase but idk if it's worth the time/effort.

You are quite welcome hun. I hope you will be able to use this to your advantage.
To be honest, it it not worth it. The amount of money you spend in using Alkahests and Fodders will be equal, if not more than the amount gained.

I do have to counter this argument a bit. I agree enchanting most T14/15 gear would be very impractical, but a lot of leveling gear/fodder can be obtained for low cost, enchanted with godly/refined godly alkahests (dirt cheap), and sold for 3-4x profit. I'll test it later on and report back.


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Re: Money Making Guide

Post by Izurah on Sun Jul 13, 2014 6:31 pm

Ruby.Roze wrote:I can vouch for this process.  In one morning I made almost 1k with minimal effort (nothing compared to Izurah's 200k claim, but hey I only started with 3k).

Izurah wrote:
Ruby.Roze wrote:Thank you for the guide Izurah!

Question: is it also viable to buy +0 gear, enchant to +9, and then sell? I know there's a significant price increase but idk if it's worth the time/effort.

You are quite welcome hun. I hope you will be able to use this to your advantage.
To be honest, it it not worth it. The amount of money you spend in using Alkahests and Fodders will be equal, if not more than the amount gained.

I do have to counter this argument a bit.  I agree enchanting most T14/15 gear would be very impractical, but a lot of leveling gear/fodder can be obtained for low cost, enchanted with godly/refined godly alkahests (dirt cheap), and sold for 3-4x profit.  I'll test it later on and report back.

Please do test it out hun! I completely forgot about Godly alkahests.
Also, thank you for the vouch hun!


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Re: Money Making Guide

Post by Ruby.Roze on Mon Jul 14, 2014 12:12 am

Alright brief test complete.  Results: profitable, but higher risk.

I used SM gear as my reference (my priest is about to level there, figured I'd check it out).
-enchantable item (Demonsbane gloves +0) = 200
-enchantables (ranging from uncommon to superior) = 50-150 depending on your RNG
-enough godly/refined godly alkahests = 1

TOTAL COST ~ 300, assuming you bought everything you need off the broker.  +9 Demonsbane gloves often go for anywhere between 600 and 950.  so you just doubled your investment.

Money banks right?  The kicker is people don't BUY +9 Demonsbane gloves very often.  Maybe once a day.  Additionally this method only really works with low-tier gear.  The margins between +0 and +9 don't increase a whole lot until you get to the tier 14/15 gear (at which point godly alkahest is useless).  With Izurah's method your items should be flying out of your inbox (often with better profits).

So yes, enchanting and re-selling gear can be profitable but it is a little more risky.


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Re: Money Making Guide

Post by Izurah on Mon Jul 14, 2014 12:39 am

Ruby.Roze wrote:Alright brief test complete.  Results: profitable, but higher risk.

I used SM gear as my reference (my priest is about to level there, figured I'd check it out).
-enchantable item (Demonsbane gloves +0) = 200
-enchantables (ranging from uncommon to superior) = 50-150 depending on your RNG
-enough godly/refined godly alkahests = 1

TOTAL COST ~ 300, assuming you bought everything you need off the broker.  +9 Demonsbane gloves often go for anywhere between 600 and 950.  so you just doubled your investment.

Money banks right?  The kicker is people don't BUY +9 Demonsbane gloves very often.  Maybe once a day.  Additionally this method only really works with low-tier gear.  The margins between +0 and +9 don't increase a whole lot until you get to the tier 14/15 gear (at which point godly alkahest is useless).  With Izurah's method your items should be flying out of your inbox (often with better profits).

So yes, enchanting and re-selling gear can be profitable but it is a little more risky.

Adding to front page! Thank you very kindly for testing this out and suggesting it. <3


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Re: Money Making Guide

Post by Izurah on Tue Jul 15, 2014 8:13 am

Next update coming soon!
What to expect: Another method.


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Re: Money Making Guide

Post by Izurah on Tue Jul 15, 2014 8:26 am

I would really appreciate some feed back or suggestions. It's hard to update this thread if I do not know what you are all making out of this.

If you are having a hard time understanding, please contact me! I can work one-on-one with you through PM or in game to make it much easier for you. I can assure you that your privacy will be secure!

It would also help out if we had more people suggesting methods for profit (With-out spending Real Life money). Whether they may be risky or not.

I would also again like to thank Ruby.Roze for suggesting Enchanting to Gain Profit


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Re: Money Making Guide

Post by Ruby.Roze on Tue Jul 15, 2014 12:03 pm

Quest Gold Boosters

Descriptive Information: Once you have reached a level where you're making decent money off side quests it becomes profitable to purchase a 100% Quest Gold Booster (QGB).  The idea is you do as many side quests as you deem "worth your time," and you get paid double for completing them.  This becomes exceptionally profitable in the higher levels.

NOTE this guide can be ignored by Elite players.  You guys have a gold booster for free.  Use it lots.

Requirement: Must be willing to do side questing, and the quests must be relatively profitable (personal threshold is 5-10 gold/quest)

Mandatory Funds: ~200 depending on broker prices


Steps:
1) Purchase a 100% QGB off the broker.  Duration varies, see below for more details.
2) Complete side quests and high-paying main quests, but DO NOT TURN IN YET.
3) Activate the QGB
4) Run around turning in quests like a bat out of hell
5) Repeat when QGB times out

Q&A
______________

Q: Why shouldn't I just activate the QGB right away and keep going?

A: By all means you can.  If you're level 58 or higher (yes you, my fellow Reapers) this is perfectly fine, you should be able to make enough to keep the QGB investment profitable.  However, if you gather a large number of quests all at once you can save a little time on your QGB by completing the grinding stuff while you're "off the clock."

Q: How long should the QGB last?

A: That depends on you/your funds.  I personally prefer the 10-hour 100% QGB.  For only ~200 gold they last a long time and often pay for themselves within an hour or two of leveling.  Remember, that's 10 IN-GAME HOURS.  If you want to get QGBs with more time on them, just remember that some (like the 1-day booster) are counted in REAL-TIME.  If you're preparing for an 18-hour quest grind fest this option can be considered, but such endeavors are not for the faint of heart Wink .

Additional Notes:

These boosters become especially handy once you hit 60.  There are a number of high-paying quests as soon as you hit max level (Discover Noctenium, the Etching guide, etc.) worth thousands by themselves.  You are also immediately acquainted with the Jax Trust and Unified Theory Institute factions/dailies, 8 super-easy and fast quests worth 800-1k with a 100% QGB.  These quests alone pay for the booster, not including the 9:45 you'll have left to use as you wish (Nexus perhaps? Wink ).

I hope this helps.  Happy Questing!


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Ruby.Roze
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Re: Money Making Guide

Post by Izurah on Tue Jul 15, 2014 12:09 pm

Ruby.Roze wrote:

Thank you so very much yet again Ruby! I'll add this to first page right away!


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Re: Money Making Guide

Post by Izurah on Tue Aug 12, 2014 4:20 pm

Bumping this post up. When I get discharged, I'll update this post.


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Re: Money Making Guide

Post by Ruby.Roze on Tue Aug 12, 2014 5:01 pm

I have been playing around with other money making methods too, I'll try to get something put together soon.


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Re: Money Making Guide

Post by Izurah on Tue Aug 12, 2014 10:12 pm

Ruby.Roze wrote:I have been playing around with other money making methods too, I'll try to get something put together soon.
Thank you Ruby. I'm glad you've been experimenting. It not only shows that you are committed, but also shows that you take risks.
I hope to be back soon. Love you hun.


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[Guide] Money Making Guide || Click here

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Re: Money Making Guide

Post by Ruby.Roze on Fri Aug 29, 2014 2:48 am

I don't have anything official drafted up, but i can say that I was working on using artisan crafting for profit. In short, I found the market is very volatile and difficult to predict, but often times still profitable.

If you stick to refining raw materials (crafting pure galvasilex, scarab powders, etc) the profits are almost guaranteed to be there, but the amount varies based on material demand and other trends. Lately it appears crafting is losing some of its profitability, but I still have the capability of earning 3-5k a day. If I craft higher tier items (tier 2/3 etchings, patron/devastator gear, etc) there is a lot of room for profit, but it relies more on luck and patience selling the items.

I'll try to get a more official posting up soon. Slightly off topic, is there a way to post files in the forum?


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Re: Money Making Guide

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