Effectively utilizing the market place in ESO is the fastest and easiest way to find yourself up to your ears in gold. In order to really get into playing the market you need three basic things: something to sell, somewhere to sell it, and some idea of what to sell it for. It may seem deceptively simple, but once you conquer those three steps, you’ll be on your way to the multi-millions with minimal effort.
1. Something to Sell
If you don’t have this, you don’t have squat. Building and maintaining a steady inventory is your first and foremost priority when it comes to playing the market. There’s really only two ways to keep a successful back stock:
- Farm it.
- Buy it.
Odds are you’ll wind up doing some kind of hybrid between the two, but if you want the most bang for your buck, I strongly favor focusing more so on buying than farming. Why? The earning potential.
Example: SallyBeBroke wants to invest an hour of her time building up her back stock. She hops over to the Hollow City to farm reagents. On a favorable circuit, she pulls around 5-7 nodes a minute. Nobody else is farming. She has Plentiful Harvest and Master Gatherer unlocked and keeps her speed boosts up constantly. She manages to pull 450 reagents, 45 of which are Columbine, during her hour farming (awesome run Sally!). In one hour’s time under very favorable conditions, she’s pulled nearly 50k worth of inventory.
Wow! That seems awesome. Why shouldn’t I just farm constantly like Sally? Well while Sally was busy picking flowers, I was trader hopping around Tamriel also building my inventory. The first 35 minutes yielded slow returns – some single stacks of reagents for 20g ea, a dwemer frame for 1k, a healthy ring of agility for 15k. But then I found it, an Imperial Motif ripe for the picking, priced at only 2k.
You may think this is a once-in-a-lifetime kind of find, but I promise you it’s not. In fact, I find ludicrous deals like this on a daily basis. Does my hour trader hopping always yield higher returns than an hour on a farming loop would? No. But overall, I win out on both quantity and value.
Somewhere to Sell It
There are three avenues for selling in ESO:
- Guild Stores
- Mailed COD
- Open trade windows
I’ll go into depth as to the pros and cons of each in The Art of Selling section, but basically it behooves you to be open to all three paths. In general, the guild store is passive income. You list it and walk away. COD is most commonly used for sales made through social media. Trade windows are usually either on-the-spot sales made via area chat or predetermined meetups on big sales to avoid taxation. I recommend filling your stores first, then utilizing the other two means of distribution on any excess/overflow inventory.
Some Idea of What to Sell It For
This is where examining the price guide and weekly market average comes in handy, but please know that this tool is merely an aid and not a fool-proof guarantee for making a sales.
But Kitrina, I followed your prices and my stuff isn’t moving! What gives?!
There’s a lot more at play than simply price point. Are you listing in single or bulk? Does your stack size appeal to a broad customer base or does it only cater to the wholesale market? Is the item currently flooded on the market? Has demand dropped off? Does it cater to only a small, niche market? Has someone else undercut your price?
These are questions you need to be able to answer before assessing the viability of your current price point. To repeat, my prices are only a very loose suggestion to get you started.