ULTIMATE FLIPPING GUIDE

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ULTIMATE FLIPPING GUIDE

Post by Dawn on 6/7/2010, 6:34 pm



Status: Still under construction. (I'm an HTML noob). Smile

Hey everyone, this is my flipping guide that I’ve written for the purpose of teaching you how to become pro at flipping. I’ll first start off with my credentials; I started using the G.E. to earn money around January of 2008 which was when the G.E. first came out. I started with a few hundred mil which I earned through pure ess merchanting and runecrafting through the abyss before the trade limit was introduced and from there, I flipped to maximum cash. I lost 1.7B in the past due to a very serious mistake, but I’ve earned it all back now and more. Very Happy So now, I’m just working on my skills (I have all the buyables bought) and I’ve been just piling on the cash as a lazy flipper would. I decided to share my knowledge and tips I’ve learned throughout the years with you.


Quick Facts about Flipping:

1. There is a 4 hour limit between your buy time and sell time. When you buy 1 dragon bone, you have up to 4 hours to buy your limit (example: 10k dragon bones) before your timer is up;
2. Flipping, when done correctly, can generate quick and easy profits. Aim for 1-2% per day although profit percentages are bound to go down when you’re flipping with more cash and have less items to use.
3. Use all available slots.
4. Flip items that you can hit the item limit on. For dragon bones, it’s 10k. For godswords, it’s 10, and so on.
5. Never be afraid to try out some new items on your own! Smile

All right, now you’re ready to flip. ^^

STEP ONE: Have your cash handy. You’ll need at least 10M+ to flip effectively although you can do it with 2M and earn like 50k per flip. You aren’t really flipping with much, so you aren’t going to earn much. On the other hand, on really good days, if you are flipping with 2B+, then you could easily earn 40M+ from a flip on a single item leaving you with a net profit of 60-70M when your other flips are sold.

STEP TWO: Select your items to flip. This is a pretty easy step since you have this guide and also Tiggy’s guide which you can find titled “Items to Flip”. Very Happy If you’re completely clueless and need me to help you find a decent set of items, fill out this form, and I’ll post my recommendation for you here:

"Which items should I flip?" Help Form

RSN:
Wealth available for flipping:
Experience with flips:
How often are you online?:


Alternatively, you can look at the most valuable traded items in the Grand Exchange Database to search for an interesting set of items. I highly recommend that you take a look at Tiggy’s guide which has a very comprehensive set of items, but don’t take the profit margins for granted since you generally won’t hit ideal profit every time.

Step 3: Find your buy/sell price for the items. You can accomplish this by buying 1 of the item for maximum price to get your “best bid” which is the lowest that someone is selling at. You would ideally buy lower than the best bid, and sell it 4 hours later at the “best bid” price. The difference in between is your profit.



For example, if you put in an offer in at maximum price for 1 dragon bone and get it at 5,844, then that would be your ideal sell price. You will buy the rest, 9,999 dragon bones, at below the ideal sell price. For dragon bones, the usual profit is 50-100+ gp per so put your offer in at the lowest, and if it’s not buying, just keep increasing your price until you get some at a decent rate.




Step 4: Wait for your offers to complete. This is an example of a set of 6 flips that I might perform. Once one slot is done, I pull the items out and start another flip with a different item. That should only be done if you are certain you can come back online and flip again.



Step 5: Sell your items once the 4 hour timer is up. Remember, the 4 hour timer starts when the FIRST item buys so to maximize your profits and make your flips efficient, you want to buy 1 of each item to test the buy/sell price and also have a good idea of when exactly you can sell your items again.

One thing that I have found helpful was to sell 1 of the item at minimum to get your "best ask" price. The best ask price is basically the highest offer that's standing the Grand Exchange at the moment and would be your ideal buy price if you were looking to buy an item to flip in this case.


For example, if the best ask price (selling 1 of the dragon bones at minimum) of dragon bones was 5,800 (which it was in this case), then you should increase your sell price to something reasonable. Therefore, instead of selling all my dragon bones at 5,839 - I sold them all at 5,864 for an extra profit because the buy/sell margin changed within the 4 hour time period. By selling 1 of the item to get the "best ask" price, it has helped me realize that:


1) an item has plummeted and I'll be making a loss from a flip or
2) an item's sell price has skyrocketed and I'll be making extra profit from the flip.
This step certainly isn't necessary but it helps you give a better idea of the buy/sell price.











Step 6: Rinse and repeat. 

Final Comments
______________
You might be thinking, “Dragon bones are 500k profit? Pfft, I can make that in an hour by standing around in W2”. However, think of it this way – it gives you profit for doing absolutely nothing but entering random numbers in...and it’s basically foolproof once you’ve mastered flipping. Sure the example I used wasn’t amazing, but there are items with amazing margins out there as well. It’s just up to you to find them.

Also, of course will be days where your profits are lower or you might even lose out on some. That might be because the ideal sell price fell drastically, you missed a GE update and the buy/sell prices changed, or just from pure mistake (like buying all 10k dragon bones at max by accident). Either way, you’ll win some and lose some but ultimately, your goal is to earn as much as you can.

Finally, once you’ve built up your flipping cash pile, you can be making millions per flip on the side along with merchanting/junk trading. For example, when flipping with 2B+, it’s so easy to average 30-40M+ per day. When flipping with 100M+, it’s easy to average a few million per day. Anyway, hope you enjoyed the guide and best of luck!

Feel free to PM or post if you have any questions. Cheers. Smile

-Dawn



Last edited by Dawn on 13/7/2010, 9:46 pm; edited 6 times in total
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Re: ULTIMATE FLIPPING GUIDE

Post by I Tank Arma on 6/7/2010, 6:43 pm

Pretty good guide Smile Along with Tigs guide this make flipping, flipping easy!
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Re: ULTIMATE FLIPPING GUIDE

Post by Dawn on 6/7/2010, 6:57 pm

Thanks Psyco. ^^
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Re: ULTIMATE FLIPPING GUIDE

Post by I Tank Arma on 6/7/2010, 7:18 pm

Just as an edit..you should put the cap on the amount you can buy of each item next to the different items you suggest..so like GS-10 ect so people can see exactly how many they can get Very Happy

+1 reppy
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Re: ULTIMATE FLIPPING GUIDE

Post by Dawn on 6/7/2010, 7:22 pm

Aww thanks for the suggestion. I'll get on that later. ^^ I've decided it's way too nice out to stay at home, heading off for the pool. Very Happy
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Re: ULTIMATE FLIPPING GUIDE

Post by I Tank Arma on 6/7/2010, 8:15 pm

Lucky for some..I dont go back to the beach for another 2 months..booo!
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Re: ULTIMATE FLIPPING GUIDE

Post by WarofLegends on 6/7/2010, 8:31 pm

Read half way, great guide, + rep

now to read the rest
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Re: ULTIMATE FLIPPING GUIDE

Post by Dawn on 6/7/2010, 10:01 pm

Hehe, today was way too hot. I wanted to stay there at least a few hours, but I came back dehydrated and..tired. Razz

Thanks War! Smile


Last edited by Dawn on 7/7/2010, 2:09 am; edited 1 time in total
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Re: ULTIMATE FLIPPING GUIDE

Post by Inhaps on 6/7/2010, 10:58 pm

Status: Still under construction. (I'm an HTML noob).

HTML is disabled on these forums... due to certain people pulling pranks with it :C


And thanks this is very inspiring! Very Happy

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Re: ULTIMATE FLIPPING GUIDE

Post by onlymofu on 6/7/2010, 11:03 pm

Great guide. +rep

Do I have the permission to use this guide for the mentor program.

And also, are you talking about HTML or BBcode? (brackets like this: " [ ] " or like this: " < > ")
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Re: ULTIMATE FLIPPING GUIDE

Post by Inhaps on 6/7/2010, 11:07 pm

onlymofu wrote:Great guide. +rep

Do I have the permission to use this guide for the mentor program.

And also, are you talking about HTML or BBcode? (brackets like this: "()" or like this: "<>")

Surely you mean brackets like this: "<>" or like this: "[]"

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Re: ULTIMATE FLIPPING GUIDE

Post by Dawn on 6/7/2010, 11:10 pm

I don't know why, but prior to posting I used brackets like "[]" to upload images but now..I have to mess with bracket like "" and it looks like an absolute mess to edit. *sighs*

I updated it and added in another picture - the final result of the dragon bones example although most people can find better items than plain old dragon bones. Razz

Thanks Inhaps and Mofu! I'm glad it helps, and sure you can use the guide for the mentor program. Smile
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Re: ULTIMATE FLIPPING GUIDE

Post by onlymofu on 6/7/2010, 11:17 pm

Lol thats my mistake
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Re: ULTIMATE FLIPPING GUIDE

Post by Inhaps on 6/7/2010, 11:21 pm

Dawn wrote:I don't know why, but prior to posting I used brackets like "[]" to upload images but now..I have to mess with bracket like "" and it looks like an absolute mess to edit. *sighs*

I updated it and added in another picture - the final result of the dragon bones example although most people can find better items than plain old dragon bones. Razz

Thanks Inhaps and Mofu! I'm glad it helps, and sure you can use the guide for the mentor program. Smile

Does the whole post look like a block of text without any formatting while editing? If so try using another web browser, e.g. firefox. It was messed up like that for me while using Google chrome a while ago but it randomly fixed itself.

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Re: ULTIMATE FLIPPING GUIDE

Post by Dawn on 6/7/2010, 11:28 pm

Yeah, it resembles a big block of text that's an eye sore to read, haha. All right, I'll use another browser when editing it..don't know what else I could really do though. Smile

I wanted to keep it as short yet detailed as possible so people don't get lost in unnecessary fluff added into the guide. Razz Would be nice if I knew how to make a table like Tiggy's for my personal list of items. Smile
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Re: ULTIMATE FLIPPING GUIDE

Post by I Tank Arma on 6/7/2010, 11:30 pm

Code:
[List]  [/List]

i believe that is the code you need to make lists Smile


    hello
    this should be a list
    lets hope
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Re: ULTIMATE FLIPPING GUIDE

Post by Inhaps on 6/7/2010, 11:39 pm

Dawn wrote:Yeah, it resembles a big block of text that's an eye sore to read, haha. All right, I'll use another browser when editing it..don't know what else I could really do though. Smile

I wanted to keep it as short yet detailed as possible so people don't get lost in unnecessary fluff added into the guide. Razz Would be nice if I knew how to make a table like Tiggy's for my personal list of items. Smile

Well -> this bbcode table generator <- is rather handy Very Happy

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Re: ULTIMATE FLIPPING GUIDE

Post by Dawn on 6/7/2010, 11:49 pm

Thanks a lot you two. ^^ Lifesavers. Razz
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Re: ULTIMATE FLIPPING GUIDE

Post by Replay on 7/7/2010, 4:44 am

I don't even know what HTML is.
+rep!

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Re: ULTIMATE FLIPPING GUIDE

Post by Dawn on 7/7/2010, 1:49 pm

Thanks. Smile Yeah, it has something to do with confusing stuff.
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Re: ULTIMATE FLIPPING GUIDE

Post by Lucy on 7/7/2010, 2:47 pm

Nice guide, never tried flipping half of the stuff here, should be fun eh Smile

Quick suggestion; if you save your pics in png. format without the white background they'll look a bit better.
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Re: ULTIMATE FLIPPING GUIDE

Post by Dawn on 7/7/2010, 3:35 pm

The best thing to do is find what works best for your. Smile

Hmm, I'm not sure how to do that. I just paste into paint, and then save it and upload using imageshack.
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Re: ULTIMATE FLIPPING GUIDE

Post by Lucy on 7/7/2010, 3:42 pm

Dawn wrote:The best thing to do is find what works best for your. Smile

Hmm, I'm not sure how to do that. I just paste into paint, and then save it and upload using imageshack.

Basically when you're saving, click on "save as" and use the second scroll down menu to choose "png". And to get rid of the white stuff, there should be a small blue dot in the bottom right corner of the paint screen, click and drag it to adjust the canvas size. You will have to position your actual picture in the top left hand corner before you did this. Hope that helps Smile
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Re: ULTIMATE FLIPPING GUIDE

Post by Mike Nike93 on 7/7/2010, 4:01 pm

amazing guide +rep everything which i do! Smile
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Re: ULTIMATE FLIPPING GUIDE

Post by Dawn on 7/7/2010, 4:33 pm

Thanks Mike. I might actually know you from somewhere..the name is familiar. Smile
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