Intro to Platinum and Trading
This guide is aimed at tackling a lot of the big questions behind these two strongly linked topics. We’ll talk a little about what they are and some basic tips regarding trading. The information here should provide the basic knowledge to allow you to trade, and use your platinum wisely.
What is Platinum?
Platinum is the paid currency of Warframe. Meaning it can be easily gotten by spending money on the game. It is also used as a currency for trading. When trading for platinum, keep note that you require 500 credits per platinum traded to you. For easy math, think of it this way:
Credit cost = (Traded platinum / 2) x 1000. This is a simple way of doing the math quickly without having to use a calculator.
Now, don’t worry, by the time you decided to invest in heavily trading you probably won’t have too much to do with credits other than mod fusion or Buying/Crafting weapons.
How Can I Get and Use Platinum Effectively?
As stated the easiest way is by direct purchase. The best practice is to only buy platinum when you receive a 50% or 75% discount. When you get a discount, try to get the highest pack affordable. This takes full advantage of the discount to get you as much plat with much less cost.
The case for console player’s is slightly different. Since you folks get market discount instead of platinum discounts instead you should focus on going for big market purchases, not big platinum purchases. So if an update hits and you have a discount, go for one of the packs if you have the plat. If not, just go for the largest purchase among the things on your list of wanted stuff. This will make it so you get your money’s worth out of your plat.
Now, for all platforms, the best use of any platinum would be for Cosmetics and Inventory Space. Why? Because you can’t get them any other way. You can’t trade for them, and there are certain cosmetics you can obtain in other ways, like Syndicate Syandanas, but very few. So this is the best use of platinum. Though console players should avoid purchasing slots as a discounted item.
Also, applying to all consoles, Prime Access packs are generally worth getting. They very slightly between PC and Console, but they average the same value at the highest tier. These packs, along with decent amounts of platinum, Give you the most recently released Prime gear for your platform as well as boosters and some other exclusive cosmetics. In other words, really good value, while saving you time trying to grind for that set of prime gear.
But what about the other method of getting platinum, trading?
What is Trading?
Trading is just as it implies, trading with other players. Now I’d like to point out there’s a difference between trading and bartering. Though generally in chat, when people say trade, they generally mean bartering, or trading other items for the item they want. New players often confuse this, and use trade as a general term. Just keep in mind that Buying, Selling and Trading are all different functions of trade chat. Let’s cover some basics of what you need to know before trying to make any platinum.
Buying and Selling
Buying is something everyone does or should do when they learn the market. This is paying an amount of platinum for an item. Selling is the same, except you’re the one getting platinum. With buying and selling, you want to try to buy items for as little as possible, and sell for as much as possible. Just don’t be rude about giving or taking offers. Not everyone will pay the premium price, nor will everyone take bottom dollar for their stuff.
Trading items for other items can be tricky. If you plan on doing so or trying to do so, know the values of what you have and what you’re offering to trade for. If you know what you’re doing, you can easily profit from this, but it will take time and patience.
Supply and Demand
This is a big thing that a lot of people forget about, especially when they complain about high prices for an item. In Warframe’s economy, or even our own in real life, Supply and Demand will always be a factor when it come to determine pricing. For those that don’t understand the basics of economics, here’s basic rundown of how the supply and demand system works. I’ll work from lowest value to highest.
High Supply, Low Demand
This is the case with a lot of items of items, including 90% of existing mods and a portion of Prime Parts. If there’s an excess of a part, and it’s common, it’s not likely to be in demand at any point. These are the Prime parts you’ll sell for very little that people may buy for Ducats specifically.
Low Supply, Low Demand
Here there is a small spike in price. Since the Demand and Supply are both low, you can sell them for a decent amount, but not a very high price. A good example of things that fall into this category would be something like a Rhino Prime Helmet. It’s a part with low demand and low supply because they’re not sought after and often get scrapped for ducats.
High Supply, High Demand
This is where you’d often find things like Corrupted mods and some stances after they’ve been around awhile. This is another small price spike, just because the item is uncommon, but has been around long enough for it to have a good supply. It also remains in demand due to corrupted mods for example being core mods for a lot of end-game builds.
Low Supply, High Demand
This is where those rare mods and parts go, as well as any trade-able item for at least the first few weeks it exists. These are the items that are insanely priced, simply because they’re sought after and there’s usually very few floating around. This is also the biggest price spike of all compared to the others. This area also includes things like like event items and items released in limited quantities.
Watching update/patch notes are the best way to keep tabs on if a price is going to change.
Making Platinum Through Trading
For now, I’ll just cover some of the simple ways, and save the more difficult stuff for the Advanced Version of this guide, which will come at later time. So that pretty much leaves us with farming and watching for WTB “orders” as well as advertising.
Obviously, there’s no easy way to do this. The quickest way is to watch trade chat for high demand. For other items, a site like warframe.market is a good place to look for prices to help you learn the market. If not, you can always try to ask for Price checks in trade chat, or anyone that may know. Eventually, we may try to keep a quick price list here, or at least something market related, but it will be awhile before we bring something like that back.
We do recommend Warframe.market for learning prices to an extent. Since the offers listed there are made by actual people, it’s an easy way to look at the market, without have to being super diligent about watching a fast scrolling chat.
Yes, this will be time consuming. Basically, for this method, you just look in trade chat for the high demand items, and go and try to run for them. This easily has the best profit margin, as it only costs you time. You can sell it for what you feel like and still make a profit. The most simple and effective tactic. It requires the least amount of knowledge to attempt, and only requires you to know the average price of your item.
This can be just as time consuming, and also requires little little knowledge of the market. The best thing to do, is only advertise items that are in demand. Even if there no WTB “orders” there’s always the possibility of someone just watching for that item to be advertised, because they don’t want to say they’re looking to buy it. A good tip for doing this is to limited your advertisement to around 5 items. If it exceeds 5 items, try to just make it 5 that will have the best chance of selling, or make a generic advertisement if you have way more than just a few items.
For a quick example of what I mean with this, is say you have 7 items. Valued at 100p, 150p, 25p, 50p, 75p, 250p, and 1000p. You’ll likely have the best chance of selling the items listed as 150p and lower, just because they cost less. When it comes to selling “big ticket” items worth several hundred platinum, those are better suited to be the only thing advertised.
Now say you’re a player that has Spares of almost everything. You can try a more generic advertisement like ” Selling most (Parts and or mods) available. PM me to see what I have.” That is likely to get you more quick sales than big sales, but if you have a lot of stuff, you could end up selling tings you’d never expect.
One thing you want to avoid doing at all costs is spamming. This means use of all caps and excessive symbols. So in summary, a Message like this, “<<<<SELLING>>>> <<<PRIME PART>>> <<<MOD>>” Is both annoying to see, and makes you look desperate (it also gets you automatically booted from chat). There’s no need to use symbols to try and make your message stand out more, all you’re doing is making your message scroll chat faster by taking more lines and space tha necessary. This spam helps nobody. If you want to draw attention to a specific high value item by putting just that in caps, go for it. But don’t spam, ever.
Now one last thing with advertising, if you’re not getting any trades going, don’t be afraid to switch regions. The main ones you’ll probably want to cycle though periodically, or stay in depending on the time of day would be: North America East, North America West, Europe and Asia. These are by far the most active chats, you can check on others, but they tend to be really empty as far as trade goes.
Yup, ending the guide with the forgotten art of the trade, Etiquette. Not everyone follows it, but doing so can make people more likely to trade with you in the future and get people coming back for more stuff.
Proper Trading Etiquette
- Be polite, even in bad situations.
- Always thank the person you trade with after trading, or least a friendly gesture like “Have a nice day.” or “Enjoy.”
- Be reasonable, don’t ask stupid high prices for something unless it’s actually worth that.
- Don’t make “low-ball” offers. It’s understandable if you don’t know prices, but don’t do this if you do know what something is worth. A lot of people will immediately block you, or at least ignore you
- Be patient. Chances are, if someone is an active seller, they’ll have gotten a few messages before you and will be taking other trades first.
- Optional, but you can always see if you can get a handshake or bow after trading. It’s a small thing but it shows respect.
- When posting Advertising, don’t spam, as mentioned before.
Keep these things in mind, and you’ll be on your way to being an excellent trader
The advanced guide will be coming in the future covering more of the complex and in depth intricacies of the market. This information should be enough to help people figure out how to trade and get a basic grip on trading in general.