About Item Flipping and Path of Economy

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f4sak3n wrote:

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Jojas wrote:

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acme_myst wrote:

Do they not want to share their inside knowledge of their chosen market niche?

I personally think it's mainly that. From my experience flippers have an Ayn Rand kind of objectivist outlook, i.e. they are selfish in nature. Not all of them, of course, but enough that very few people exist who would flip, and do so successfully, and at the same time are willing AND able provide a community oriented service like writing a comprehensive guide.

This may be an irrelevant point but any wealth gained via flipping is, in an abstract sense, gained at the expense of everyone else. By this I mean the flipper is providing no services or items beyond the dubious "service" of artificially increasing the price of the items they deal in.

I disagree
once I explained someone how to search for for a good weapon, which can be really good after mastercrafting, he wasn't really interested...
so I bought the best weapon for around 1-2ex, mastercrafted it and sold it to him for 6 ex, which was like 4ex under market value and he was cool with it
so the only person who lost something, was the guy selling the weapon without master mod

and real flipping can be done with trade chat... some people are to lazy to create a shop and if something is dropping they sell it fast via trade chat... I prefer to flip weapons which can be finished with master crafting
or even divining bows at the beginning of the league, a lot of people aren't aware that a divine costs around 8-10c at the beginning and harbringers have a dps range of 50+... which can make a difference of 2-5ex

There was a guy, if i remember correctly his name started with "In" or maybe "An" and "x" in it, something like "inexium"? Dunno anymore. It was like 3 or 4 leagues ago. He posted a thread about, how he made from total newb to a person, who could buy anything. In 1-3 month it was? His main income was item flipping. He described how he did it and what.

So u just need to dig this thread up. Maybe somebody else remembers more exact details.

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Jojas wrote:

But it's also a fact that many people who consider themselves poor are not. They're just blinded by all the things they can't have.

That is so true, bro! Even I sometimes fall in this category. I think most people in Croatia do.

As a professional trader and speculator, I can attest that the flipper types are terrible at getting truly rich.

This mindset is pervasive in speculation as well, and it's not to do with there being a 'problem' with wanting to be rich. The issue is they while trading these types of people end up taking profits too early, making small gains but not really getting anywhere over the years. Mostly, think of your mid-low level financial guys and most retail traders who aren't flat out losers.

In POE this isn't the quickest way to get rich anyway and eking out 1 chaos here or there is simply not worth the time. You can make a lot more POE currency if you just ignored all this rubbish, moved inventory very fast and farmed well with a good build. In fact, I suspect just using portal scrolls and searching for arbitrage opportunity (free chrome recipes and six socket items) with vendors would make POE currency faster than flipping.

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f4sak3n wrote:

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Jojas wrote:

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acme_myst wrote:

Do they not want to share their inside knowledge of their chosen market niche?

I personally think it's mainly that. From my experience flippers have an Ayn Rand kind of objectivist outlook, i.e. they are selfish in nature. Not all of them, of course, but enough that very few people exist who would flip, and do so successfully, and at the same time are willing AND able provide a community oriented service like writing a comprehensive guide.

This may be an irrelevant point but any wealth gained via flipping is, in an abstract sense, gained at the expense of everyone else. By this I mean the flipper is providing no services or items beyond the dubious "service" of artificially increasing the price of the items they deal in.

This isn't actually true. These people are providing liquidity by getting the items off people who just want their stash cleared and giving it to others who need them immediately.

It's all about exploiting people who want to sell fast and then exploiting people who can't wait. And then, exploiting people who don't know prices.

It's seriously good currency if you know how to do it, 50 ex+ per day in temp leagues.

I have made most of my wealth buying low and selling high.

As Chundra mentioned, temp leagues are the key. In most temp leagues, I will fill my tabs with cheap, powerful items. During the HC one month I bought 30 Divine Orbs for 4-6 chaos each. Once it hit Hardcore, I sold for 15c each. Easy right? And I only played the HC one month for like a week.

Also, knowing prices, especially after a bunch of legacy items drop, is key. I can't even tell you how many Coils/Cloaks I've bought for 3-6ex and then sold really quickly for 9-12ex. At the same time, I'm typically ripping through sub-70 maps leveling gems and generating wealth that way also.

Also during temp leagues, there is so much activity that you can find tons of people selling things for way under value, or who don't know the value. I honestly could never stomach ripping someone off TOO much (like 1ex for voltaxic or something) but I will certainly allow them to sell low.

Once my main account gets unlocked (had a paypal misshap) I can link some specific items. During Beyond I bought a 550 dps mace for like 20 fusing and sold later for 4 or 5ex. Stuff like that is relatively easy to come by, too.

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otpadnik69 wrote:

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bersi23 wrote:

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acme_myst wrote:

Do you know, why not everybody can have everything?

Because there are very many "everybody" and very little "everything".

Think about it.

there is always enough of everything. but some people couldn't be rich if there was no other poor people.
for someone to be rich, bunch of other people must be poor. it's a fact.

But it's also a fact that many people who consider themselves poor are not. They're just blinded by all the things they can't have.

Yeah and for no one to be rich everyone would have to be poor it is a fact.