Since i already sell forging ingredients, i’m wondering if there would be any interest in buying unforged gear. The idea would be that Suji’s essentially becomes a one-stop-shop for forgers.
Of course, this unforged gear would be sold at the usual Suji’s prices. Focusing on quantity, so that i can make a living while selling with low profit-margins. For example, a topaz hammer would go for roughly 700 (example price, based on me being able to acquire rough topaz for around 45).
Can you define “extremely low”? I obviously can’t sell at a loss (sorry :P), but would you classify tools that have less than a 10% profit-margin on them, low? (In the case of the topaz hammer i mentioned my margin would be roughly 8-10% per hammer, accounting for tax on my end)
Personally I would buy diamond tools for 500. Im not trying to say you should or anything. Im just providing my feedback as you asked forgers. My personal strategy is to farm most the mats myself to keep my forged tool prices lower. This means I value my time less than other people do, but it works for me. If I were to price things solely based on market prices of all mats that go into forging, i would probably price things at double of what I do.
If I were able to find tools around 500 and in bulk quantities, I would buy some intermittently to compensate for when I don’t want to spend the time myself.
I think you have a great business strategy, focusing on selling forging mats and have practically cornered the market for that. If you rely on buying gems to make the tools in order to expand into another market i don’t think you will find a profit margin worth your time to keep it going along with producing the forging mats.
just my 2 cents. Again making absolutely no suggestion on HOW you should play. I would be interested to see how you do, if you choose to expand into other markets. I have a Bachelors in Business (and Masters in Forging lol) and these things interest me…
No worries, i appreciate the feedback
If you ever find diamond tools for 500, you better buy them all up! This equates to roughly 35 coins per rough diamond
You’re right in that this is definitely a tougher market to get into. My main drive is the fact that people who buy forging ingredients from me, obviously also need tools to forge with. So i won’t have to struggle to find a customer base, as they’re essentially already in my shop!
I reckon there’s 2 main types of forgers. Type 1, which you are part of, are the ones who either enjoy mining or value their time less than the value of gems, so they prefer to get their own (or buy at below-cost prices). Then there’s type 2 who might be forging on such a scale that they don’t have time for mining and rely on request baskets for gems, or people who value their time more than the value of gems and buy their own gems. Obviously i’d be targeting the second type of forger.
I’ve had some good feedback here and privately, so i’ll likely go ahead and make a small stock to see how it goes.
You’d be surprised how low my profit-margin is for most of my forging ingredients (looking at you, effect gum!!) My main goal for selling gear, is to at least break even. Because if i do, that means worst case scenario, i’ve attracted more, possibly new, people to my shop.
Maybe i’m giving away too much of my strategy here, hah! But i just enjoy providing a service. It doesn’t have to make me rich
I dont forge large quantities, but I use as deco blocks most of my gems. And I rarely craft weapons myself I rather go buy them with the exception of topaz and sapphire which are really easy to get in large quantities
Lol boy diamond hammers at 500…so buy diamonds at 55 cents each so 400 per hammer roughly…then the glue and then the leather…I sell a ton of unforced gear and if want keep driving prices I will close all and just mint enough to do exo and not participate in shop wars it’s stupid. And what’s the point…look at teaching pies. It cost more to make than selling for. If it keeps going in that direction no one will want to sell just make and keep for yourself and guild members…just thoughts. Not directed or meant to hurt anyone’s feelings at all
Not interested in a price war, just interested in providing a new service to my customers Plus i would be buying nearly all my gems, so undercutting under market price would simply not be an option for me. It would just be some healthy competition
Do you use a calculation tool/spreadsheet? Because rough diamonds for 55, results in a cost-base of 624 per hammer to me. That’s without glue, leather, sticks or taxes.
Not in game so can’t recall what I sold the unforged stuff for in the tnt superstore. But they are still up for sale if you want to price check they always sold really well.
I kept all of it within gem pairs at a fixed price
