05-22-2007, 10:42 AM
Hey everyone.
I've just been thinking a lot about making nps and stuff of that sort and I just thought I'd publish my findings and maybe spark a whole new subject of money making and money making thoughts.
Patience
The key to making nps is, above all, patience. Unless you hit the jackpot at Treasure Hunt, Ice caves scratchcards or test your strength, you are not going to get rich over night. The stock market is a great example of a test of your patience. You just put your money in the appropriate stocks and sit and wait for your profits to rise. Restocking also test your patience when it comes to repeatedly trying to out-buy every invisible person looking at the same page as you.
War
No one can argue that fortunes are made in war. I recently discovered that war time inflation is a potential gold mine for those who can use it to their advantage. All of us know that war time in Neopets is inevitable and that there is only about 6 months of 'peace' between wars. During these months of peace, purchasing items that have inelastic demand, items whose price practically doesn't affect the demand for them, and selling them at war time prices in your shop has the potential to yield great profits. The best item I can think of to hoard during peace times are codestones, namely Main and Vo. Ive calculated that these codestones gain almost an 80% increase in value during times of war. Of course, this method assumes that you have enough money to spend on copious amounts of codestones prior to the war. Nonetheless, war time inflation should be taken advantage of. The neopets market is a great place to exercise rational expectations because there are virtually no downsides in a market where the greater percentage of consumers are lower-middle class neopians AND the item you have chosen to hoard is something EVERYONE wants nearly ALL the time and during war they just happen to WANT it THAT much MORE.
Stock Market
What could be better than throwing your money somewhere and getting more back with literally no chance of losing any? Yes, the stock market is practically such a place. I see the neopets stock market as a free-nps giveaway because waiting for your stocks to rise is the only price you pay other than the amount you paid for your shares. Unlike restocking, you don't have to sit and watch and wait to buy stocks. As long as you possess enough money to create a diverse and volume-loaded stock portfolio, you are going to make a lot of nps. www.neodaq.com is a great source for stock market data and portfolio management.
Restocking
Obviously the most popular method of making great profits. I've been living in a country with a very poor internet connection, under 120 kb, so i have not been able to fully utilize this money making tool, but its results are undeniable. The only downsize is having to learn which items are valuable by occasionally purchasing items that literally have no value and realizing your mistake.
Shop and Auction Sniping
This is probably the most luck based of the previous methods I've mentioned but if you happen to come across and item that is significantly priced lower than its counterparts, say one shop has item A priced at 5,000 and all of the other shops have item A priced at at least 50,000, clearly the owner of that shop has made a mistake and it's your job to take advantage of that. Auction sniping is much more difficult but I've learned from personal experience that, if you time it just right, place a bid on the item as near to 00:00:01 as possible, and bid MORE than the minimum bid price because, no doubt, everyone else who is trying to win that item in the last 10 seconds it is up for bids is only clicking enough for the next lowest bid.
I share these discoveries with you all because I didn't want to feel like I took advanced Economics for nothing and I thought neopets was a good place to try and apply everything i learned in econ this year.
Thanks for reading
I've just been thinking a lot about making nps and stuff of that sort and I just thought I'd publish my findings and maybe spark a whole new subject of money making and money making thoughts.
Patience
The key to making nps is, above all, patience. Unless you hit the jackpot at Treasure Hunt, Ice caves scratchcards or test your strength, you are not going to get rich over night. The stock market is a great example of a test of your patience. You just put your money in the appropriate stocks and sit and wait for your profits to rise. Restocking also test your patience when it comes to repeatedly trying to out-buy every invisible person looking at the same page as you.
War
No one can argue that fortunes are made in war. I recently discovered that war time inflation is a potential gold mine for those who can use it to their advantage. All of us know that war time in Neopets is inevitable and that there is only about 6 months of 'peace' between wars. During these months of peace, purchasing items that have inelastic demand, items whose price practically doesn't affect the demand for them, and selling them at war time prices in your shop has the potential to yield great profits. The best item I can think of to hoard during peace times are codestones, namely Main and Vo. Ive calculated that these codestones gain almost an 80% increase in value during times of war. Of course, this method assumes that you have enough money to spend on copious amounts of codestones prior to the war. Nonetheless, war time inflation should be taken advantage of. The neopets market is a great place to exercise rational expectations because there are virtually no downsides in a market where the greater percentage of consumers are lower-middle class neopians AND the item you have chosen to hoard is something EVERYONE wants nearly ALL the time and during war they just happen to WANT it THAT much MORE.
Stock Market
What could be better than throwing your money somewhere and getting more back with literally no chance of losing any? Yes, the stock market is practically such a place. I see the neopets stock market as a free-nps giveaway because waiting for your stocks to rise is the only price you pay other than the amount you paid for your shares. Unlike restocking, you don't have to sit and watch and wait to buy stocks. As long as you possess enough money to create a diverse and volume-loaded stock portfolio, you are going to make a lot of nps. www.neodaq.com is a great source for stock market data and portfolio management.
Restocking
Obviously the most popular method of making great profits. I've been living in a country with a very poor internet connection, under 120 kb, so i have not been able to fully utilize this money making tool, but its results are undeniable. The only downsize is having to learn which items are valuable by occasionally purchasing items that literally have no value and realizing your mistake.
Shop and Auction Sniping
This is probably the most luck based of the previous methods I've mentioned but if you happen to come across and item that is significantly priced lower than its counterparts, say one shop has item A priced at 5,000 and all of the other shops have item A priced at at least 50,000, clearly the owner of that shop has made a mistake and it's your job to take advantage of that. Auction sniping is much more difficult but I've learned from personal experience that, if you time it just right, place a bid on the item as near to 00:00:01 as possible, and bid MORE than the minimum bid price because, no doubt, everyone else who is trying to win that item in the last 10 seconds it is up for bids is only clicking enough for the next lowest bid.
I share these discoveries with you all because I didn't want to feel like I took advanced Economics for nothing and I thought neopets was a good place to try and apply everything i learned in econ this year.
Thanks for reading
Thanks for the overview but there are a few small flaws and one of the final stages of making np is left out: malling...
cuz what if it's not obvious. The most popular method of making np is gaming (I'm pretty sure) and the most popular method of making "great" profits is malling, not RSing. Sure there are RSers who make millions when they hit a good item. But although the population overlaps, mallers are far richer than the average RSer. Unfortunately the new layout has killed malling and sales have dropped over 50% for many people
. It's just alot more guesswork about when to bid