Buying NFTs for the Best Price
Most of the time NFT sales happen on a secondary marketplace like the ones on our Resources page. But smart NFT investors can use a few strategies to get a better price than what is on the market. The better the price you get, the more room you have for profit.
Buy in bulk
It can take a while for NFTs to sell, which can be annoying for someone who is waiting on a large portfolio to get bought up. If you're a buyer with a big enough bankroll, you have an opportunity to offer them a bulk buyout. This is where you agree to buy multiple items at once at a discount.
If you're patient, you can sell all of these individually at market price for a profit or even try to quickly flip them at a smaller discount. It may be difficult to identify and contact buyers on a marketplace, so these deals are more likely to happen in community groups on discord or telegram.
If you are able to talk to a potential buyer or seller after connecting through some group, then it’s crucial to negotiate for a better price. Note how much trading activity the NFT has had and use that as leverage in the negotiation if it’s in your favor. Someone selling an illiquid NFT is more likely to be flexible on the price than one who has a big pool of buyers to tap into.
Get in early
Before NFTs are put up for sale on secondary markets, they are usually sold directly by the project to the community. This gives early investors a way to buy in and provides the potential to get NFTs for cheap that can later be resold for more on the market.
Be warned though, this is a risky strategy. During a presale, projects are normally new and don’t have a game or big community yet. Many projects never will get those things, leaving investors holding worthless NFTs.
Buying early on can yield big rewards, but carefully evaluate the potential for the project to be successful. This strategy usually works best for short term flips, where you buy into the pre-sale and sell quickly once the project gets an initial spike in interest. If you are going for a long term hold you should be very confident about the team's ability to deliver, otherwise it's likely better to wait for more progress.