Example: Let's say I've flipped flared trousers in the past and usually made about 150k profit
I instant buy at price X, 2500k. I would put them in to sell at 2550k (Or probably 2548 to undercut anyone selling at 2550k). I would also try and buy more at 2360k.
If the one selling @ 2550k completes, we know we can pay 2.4m and still get our 150k profit, so we can increase our buy if the item does not trade.
If the one @ 2360k completes, we know we can sell the item also @ 2500k (again, 2498 to undercut or so) and still maintain our usual margin.
If neither complete then we would put the item back at 2500 (2498) and let it sell, whilst either raising our current buy offer or moving on to another item.
The amount of time you wait comes with practice, it's something you learn when you get a feel for the type of item you're flipping. If i was doing tt i'd probably not wait more than 2-3 hours, but I honestly haven't done these flared trousers-esque items for almost a year.
You could just instant buy/sell at the start to get some prices for the item, but note the first 4 hours you can only really at best break even.
Ideally, the next 4 hours you'll already know the prices not too long ago, so this is where the prior information comes in useful and you can PROBABLY just use similar margins, although if the item is dropping/rising you'd just adjust both prices down/up accordingly
if the item has a limit of 10 (see barrows items, berserker rings (probably)), you can just instant buy/sell to check the margin, as the remaining 9/10 can easily bring you back into profit. You don't always need to instant sell, for example if you instant buy @ 5m, and it doesn't instant sell at 3M, no point taking over a 2m loss to check the margin when you've already found a good 3-5M flip item
Finally, PC fcs do the 'hard' work for you, by telling you the prices, so more competition, so worse margins. Better margins are the items that aren't PCed 24/7
20-Jul-2011 20:33:05
- Last edited on
27-Jun-2013 19:12:41
by
Mat Dragonx
