Economy Guide

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Oct 30, 2016
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#1
Hey, guys Lemonss here, posting a quick little guide on how to make money and how to gain profit. This guide will be split into 2 parts. Part 1 will be general help for all, and part 2 will be help for more knowledgeable players, aka older ones. This guide is applicable for selling/buying of HOMES and ITEMS. This is a guide, and should be used to guide your decisions and is a small description into how I have made over 10-20 million on the server. Enjoy!

**THIS GUIDE WAS MADE BY LEMONSS, BUT HE CANNOT POST SINCE HE IS BANNED**
Table of Contents
Part 1
1. Never do blind trades
2. Never do money trades for items
3. Always ask for an offer
4. Don't take the first offer you see
5. Ask for advice
6. NEVER trust people saying "Pay you later"
7. Profit is profit
8. Don't gamble.
9. Have extras
10. Don't rush items.
11. Sell when demand is high, and competition is low.
12. Auction rare and valuable items

Part 2
1. Know the history
2. Know the shop
3. Know players
4. Always negotiate
5. Don't take sad stories
6. Be good at inspecting/Be aware



Part 1
1. Never do blind trades

Simple as can be. Always know what you will be trading for, and make sure the other player is extremely clear. Always take a screenshot of you and the other person agreeing on trades and include the items being traded, money, etc. This can be helpful in court cases, staff issues, or as an extra help just in case.

2. Never do money trades for items

This one is more complex. Sometimes players will say "I don't have 50k, but I have 4 silk touch pickaxes" or something related. NEVER do these types of trades unless you can either sell the item in ./warp shop for money or it is an item you need very deeply. Since prices change in the auction house and other players won't always pay the same for an item, you might be losing a lot of money if you thought an item was worth 20k but in reality, sells for 10k. This includes properties. Unless you see immediate profit in a home or plot, never take it because it might be a rip-off.

3. Always ask for an offer

One error I see a lot, is players always go out and offer a flat out rate when selling an item. You should ALWAYS ask the other player to offer a price for your items/homes, and keep increasing your price as you go. If a player offers you 30k for a plot worth 15k, you just doubled the earnings you expected.

4. Don't take the first offer you see

Sometimes, you love to sell your items right away. Don't ever do that. It is WAY better to wait a week and get double or triple the first offer then to sell it right away. You should also tell people to give you time to think about it. Impulse selling is way worse and you could lose money from your item.

5. Ask for advice

If you don't know how much something is worth or you don't know what an item is, don't guess. ALWAYS ask in chat, other good veterans and other players who do know what an item is. If you found a scroll which you don't need or have no idea what it does, ask around. People play sneaky and always try and get the lowest price.

6. NEVER trust people saying "Pay you later"

You should never, ever, EVER trust people who say they will pay you later. Things happen, and most times you will NOT get the full money. IRL things get in the way, you forget, they never get money or they quit the game and you lost potential profit.

7. Profit is profit

Take profit wherever you see it. A few thousand dollars stack up, and you should try and cut corners, be "cheap" and do whatever you can to make an extra buck. Things happen, accidents come and go, and don't be unlucky and not prepared.

8. Don't gamble

There are certain gambling strategies, but those take more money and can be very risky. Gambling can make you rich, but it can make you broke and poor. Don't do it.

9. Have extras

Don't sell all your items right away. Whether it be an extra plot, extra sword, or extra anything, it is best you don't sell everything. Emergencies come, and you might need an extra 10k for a house or might need to go PVP, and those items could save you, literally. I always kept a property with tons of items which I could sell, things like logs, melons, carrots ECT just in case one day I went broke or needed money. It was worth about 500k-1m, and even though you don't need that much, you should have some extra leverage.

10. Don't rush items

You might think a diamond sword with looting 3 is worth a lot, so you go and enchant a sword with looting via a book. More times than not, people want individual items, not combined ones. A looting 3 book might go for 10k, while your sword might go for 7k. Sometimes, people don't want carbonado. Don't make 100 carbonado thinking you're going to sell it all since some people might want some coal to make other things. Always keep things as simple as you can, so that way you can sell as demand comes up.

11. Sell when demand is high, and competition is low

Big mistake I see a lot, is players selling an item a lot of players want, like plots when 4 other people online are selling plots. If you offer 10k per plot and someone else offers 8k, everyone will buy from the lower priced person. If you are the only one online, you hold a little monopoly over items and can change your prices based on who is online and what the demand is.

12. Auction rare and valuable items

The best way to make a lot of money is selling items in an auction. Sometimes, an item will sell for more when more people bid for it and fight for it. You should try and keep a minimum price and minimum bid on items, and let the prices go up from there.

Part 2
1. Know the history

For you veterans, you have made your way through countless homes, items, and hours of playing. If you see a home up for sale which was owned by an old veteran or a player with a lot of money or good items, chances are some good things are inside. It is very good to know the history of an item or a player because not only will it tell you if the item/home you have were in good hands, it can help with knowing about hidden items/perks, or maybe other things deeper. You might find a bedrock vault which the person selling the home had no idea about.

2. Know the shop

An in general tip is know how the shop works. Sometimes in ./warp mall you will see items for sale cheaper than what it sells for in ./warp shop. You should know how the shop works and how its prices go. If you see an easy way to make money, the shop will be your best bud when it comes to making the money.

3. Know players

One of my best tips is to know the right people and have good trade relations with them. Sometimes you will get good discounts for buying bulk or discounts for knowing the person. It is good to trade with the same person because they can be lenient and give you inside items you wouldn't get in the market. Knowing people is the key to becoming rich fast.

4. Always negotiate

A lot of times, an item going for 100k can be lowered down to 50k. Talking it out and understanding the person is your best friend in trades.

5. Don't take sad stories

This is an a----- move, but just do what you need to do. Sometimes, players will tell you "I got scammed can I get more" or "I'm sad no friends no money ". You might feel sympathy, but sympathy costs money. You will lose more money with sad stories, and you don't want to fall victim to a fake story.

6. Be good at inspecting/Be aware

Looking at things is your best friend. ALWAYS look at chat and know the players and who you are dealing with. Some players are shady and may try and scam you, so it is best if you keep an eye out in chat. You should also inspect for potential profit you can see. Sometimes, a home might be worth 10k, but with maybe some fixing and some arch work, a 10k home with a 10k investment in work, can be worth 50k, giving you 30k profit.
 
Apr 13, 2018
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#8
i tend to rush myself into selling everything worth a bunch, and sometimes i get profit from it, i might do what u said. Thanks!
 

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#9
i tend to rush myself into selling everything worth a bunch, and sometimes i get profit from it, i might do what u said. Thanks!
These are guides therefore these can still be used for reference however, please don’t bump an old thread, just ask a staff or post in the questions sections for questions

Please don't bump old threads- bumping threads is where you reply to those that are over a month+ not replied to
 
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