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@Lightasvoria

Bookmark and make use of the information on this page. It will tell you what items are used in Swipp Swaps and higher level Baldwin swaps, so that you don't break down anything you might later need.

Other than that, anything else you see in your Baldwin tabs can be reduced to components.

There's no point worrying about item rarity or whatnot, because aside from being melted down to specific things (Apparel always becomes slime, Familiars always become muck, etc) the result is entirely random, so you can't skew it to get specific colours you want, it's all down to chance.

@lightasvoria

I would suggest hoarding the cheap trinkets and materials from the lower levels of the coliseum, Phytocat toys are good trinkets to hoard. They aren't used for anything, tend to be plentiful, and sludge (what they reduce to) is very popular. Same thing with cheap food.

As for apparel and familiars, that would be personal preference, but in general familiars, especially fro mthe low venues in the coliseum are usually cheap and the muck you get out of each one is worth more than the familiar.

A good thing to do with apparel and familiars is get in the habit of checking prices on the AH for them before reducing. I tend to reduce them if they are less than 10,000 treasure on the AH. While the individual mucks and slimes might not always be worth more than 10K, generally they are used for the higher level recipes and some of those can be worth a bit (muck in particular is used for the genes Poison and Toxin)