Welcome back everyone! My mythics article from last week generated a little bit of response though I feel like some of it was some trolling and a small bit actually was quality response. However, I promised you a how-to go guide for going infinite on Magic Online without playing, and that's what I am going to do. Unfortunately, my example became obsolete this week with a price increase on a few of the cards. So instead of being able to use specific current prices, I will use generalized examples and suggestions on what to do.
Step 1: Figuring out what things are worth.
Duh! On to the next step.....ok, I guess I will give a bit more to this point. You need to research the going prices of the cards on MTGO and what it is going to cost you in both Tix costs and Dollar costs to make and redeem your sets. This will tell you A) What sets are worth redeeming, and B) How far away the bad sets are from being redeemable. Point B is actually more important than point A. If you can keep an eye on the other sets and notice the change, it can give you a head start in buying up the cards in mass before other people and the sellers on MTGO correct their prices to the supply drop of that particular set.
Step 2: Acquiring Capital
This is actually one of the trickiest parts to making money on MTGO. Buying from the MTGO store will cost you $1 per 1 tix, unless you are from a Non-US or Canada (I think) country, and then you are paying $1.22 per 1 tix (22% VAT tax). This makes redeeming sets for profit very hard. Also, the most important thing is finding a reputable source of tix at a lower number. There are several clans out there that focus on getting cheap tix. I recommend doing research and finding who you can trust on MTGO. I would recommend getting no less than 2000 tix to start. You are going to blow through these tix quickly and you want to have a cash flow at all times so as to never not be redeeming sets (hot double negative there, huh?).
Step 3: Finding the cards
There are several ways you can go about doing this. The first is just spending Tix on bots and buying the cards. Simple. Second way is to visit websites that offer singles. A lot of these places offer discounts if you pay with Paypal over Tix. Take advantage of this because sometimes they are slow to recognize changes where as MTGO can be harder to find incorrect prices, save for the random bot at times. Another way is to let your friends and clan mates know that you are buying cards. Many times you just need to buy a bit higher than bots will buy at or even the same and they will hook you up. Also offering Paypal instead of tix is a lot more enticing to certain people.
Step 4: Redeeming.
This part really is simple. It will cost whatever WoTC is charging these days (still $6.99?). You need to factor this into your math when it comes to figuring out if a set is worth redeeming. Usually you can just sell off the common/uncommon playset that comes along and get your money back on the shipping fee.
Step 5: Unloading the cards.
I won't go into a whole lot of detail about this since I think it will do you more good to research these options on your own then for me to just spoon feed them. Just realize that if you have enough capital and can keep going without a pause to recoup money from the incoming cards, you should try to capitalize and make all that you can on your redemptions.
That is basically it. It is rather simple when you break it down and see the steps. It isn't AS profitable as it use to be. At one point I was redeeming 16 sets of Lorwyn a week and profiting $250 per playset redeemed. It was HOT. However, when the switch to 3.0 happened and WoTC started charging a VAT tax to overseas customers, it caused tix to rise from .80-.85 up to their current levels. People tend to only go into this kind of venture with a small bank roll, and in reality, it takes thousands of dollars to do it correctly and make the kind of money that is actually impressive.
Join me next week when I discuss....well, I actually have no idea. Why don't you guys suggest something and I can see what I can come up with! Thanks ya'll.
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