New Trading Guild *Need Tips and Price sets*

KiritoUD

Hey i just started a new trading guild and in looking for anyone who can give me good tips to raise a whole bunch of money fast. I'm also wanting a way to keep up with average prices for all item. Please no bull or fake tips

failkiwib16_ESO

How much gold do you have to begin with?

And I hope you are aware that running a trading guild is very time consuming, specially if you don't play on PC platform. If you intend to just earn money, then join an already established trading guild for that purpose.

KiritoUD

I know its time consuming and im prepared for that and im starting out with somewhere around 15k. I started this guild to start providing items for lower prices so more people can afford the items that are more rare.

failkiwib16_ESO

What platform do you play on?

KiritoUD

Xbox one NA

failkiwib16_ESO

Ah sry, I wanted to know wether you can access Addons or not. Consoles don't have that, and must do a lot of hard work

You need 50 members to unlock a guildstore, in which your members can set items for sale and buy from - but other players will not be able to buy from it. - However you can bid on a weekly trader, and non-members can access your guilds store through that.

The cheapest traders are in refuges and cost between 3k - 100k a week, depending on wether it is located in the shiniest new DLC location or just base game area. You have to bid on a weekly base, and if your guild grows large enough, you have to bid at last moment to avoid spies from other guilds overbidding you. That means if the bids close at 4am on a monday, then you have to stay awake there.

You can collect donations (usually 2k a week from members) toward a guild trader, the higher amount you cash in the better bid you can give. (you probably need this, since your coinpurse is very small).

If you get into a bidding war with another guild over the trader, you have to compensate and overbid - that means a trader that normally costs 10k/week can run up to 50k/week.

Bids are blind - you can not see what other people have bid, or wether your bid is the highest or not. Once you bid, you can not change your opinion and bid on a different trader.

Money for bidding has to be in your guildbank. Once you bid, the system takes the money - and if you win the bid, it keeps the money - if you loose the bid, it will be returned to your guildbank.

Raw materials, flowers, recipes and upgrade materials always sell good.
Set jewelry, armor and weapons rarely sells, but once they do the profit can be extremely high - only applies to certain sets between cp 130-160.

If your trader is located at a place where few veterans go, then you will sell less purples and gold upgrade materials - if your trader is located at a place where many veterans go, then you will sell less greens and blue upgrade materials.

I could write you a long detailed list of avarage prices of items on PC/EU but our prices differ from yours, so I suggest you take a look at websites, to figure out what the prices on your platform are.

Nirnrotten

Well it's difficult to keep your members from undercutting each other. My guild mostly focuses on us using up all of our slots. I try to keep my prices the same as everyone else.

One thing I've noticed from some of the up n coming trade guilds is they are selling stacks of 50 mats instead of 200. The market has always been somewhat volatile, but now these people are selling less mats for more money. Since it's still "cheaper" than a stack of 200, more people are buying. So you could try that. Tell your guildies to only sell in stacks of 50.

If you aren't charging a weekly fee to sell I suggest running raffles. Have people donate X gold or items to enter and they win Y. My guild makes pretty good money doing that and keeps us having a guild trader without a weekly fee.

Good luck but know that you will be up against some sneaky people who take advantage of player ignorance of the market. Keep your guild involved and happy and they will donate/sell to keep your guild floating and making money. Run some events too. Always fun!

failkiwib16_ESO

Also kick members inactive more than 7 days, if your guild grows to larger than 70 players. Don't be too picky at start, but once you get enough guildmembers - keep it constantly active by kicking old members.

Keep track of how much gold individual players donate, write it in their notes. If a player sells very good or donates 50k but is inactive for 7 days, give him a few more days before you kick him.

If you wish to earn good money on a trading guild, then you will need to constantly invite new members, and if you succeed to get full 499 members, then you will not be able to control what they sell at what prices.

KiritoUD

failkiwib16_ESO wrote: »

Ah sry, I wanted to know wether you can access Addons or not. Consoles don't have that, and must do a lot of hard work

You need 50 members to unlock a guildstore, in which your members can set items for sale and buy from - but other players will not be able to buy from it. - However you can bid on a weekly trader, and non-members can access your guilds store through that.

The cheapest traders are in refuges and cost between 3k - 100k a week, depending on wether it is located in the shiniest new DLC location or just base game area. You have to bid on a weekly base, and if your guild grows large enough, you have to bid at last moment to avoid spies from other guilds overbidding you. That means if the bids close at 4am on a monday, then you have to stay awake there.

You can collect donations (usually 2k a week from members) toward a guild trader, the higher amount you cash in the better bid you can give. (you probably need this, since your coinpurse is very small).

If you get into a bidding war with another guild over the trader, you have to compensate and overbid - that means a trader that normally costs 10k/week can run up to 50k/week.

Bids are blind - you can not see what other people have bid, or wether your bid is the highest or not. Once you bid, you can not change your opinion and bid on a different trader.

Money for bidding has to be in your guildbank. Once you bid, the system takes the money - and if you win the bid, it keeps the money - if you loose the bid, it will be returned to your guildbank.

Raw materials, flowers, recipes and upgrade materials always sell good.
Set jewelry, armor and weapons rarely sells, but once they do the profit can be extremely high - only applies to certain sets between cp 130-160.

If your trader is located at a place where few veterans go, then you will sell less purples and gold upgrade materials - if your trader is located at a place where many veterans go, then you will sell less greens and blue upgrade materials.

I could write you a long detailed list of avarage prices of items on PC/EU but our prices differ from yours, so I suggest you take a look at websites, to figure out what the prices on your platform are.

failkiwib16_ESO wrote: »

Also kick members inactive more than 7 days, if your guild grows to larger than 70 players. Don't be too picky at start, but once you get enough guildmembers - keep it constantly active by kicking old members.

Keep track of how much gold individual players donate, write it in their notes. If a player sells very good or donates 50k but is inactive for 7 days, give him a few more days before you kick him.

If you wish to earn good money on a trading guild, then you will need to constantly invite new members, and if you succeed to get full 499 members, then you will not be able to control what they sell at what prices.

Thank you ill keep all this in mind

Articulemort

15k to start a trading guild is going to be rough. I play on Xbox Na and I had 10 times that, bidding on the crappiest of the crap traders and it took weeks(like 2 months) for me to get a trader. You are going to want to join 3 or 4 of the big major city trading guilds to make a lot of gold to funnel into your guild.

Also, your idea of selling items cheaper so the average player can afford rarer items is just going to result in players like myself buying everything to flip it for a profit.

KiritoUD

Articulemort wrote: »

15k to start a trading guild is going to be rough. I play on Xbox Na and I had 10 times that, bidding on the crappiest of the crap traders and it took weeks(like 2 months) for me to get a trader. You are going to want to join 3 or 4 of the big major city trading guilds to make a lot of gold to funnel into your guild.

Also, your idea of selling items cheaper so the average player can afford rarer items is just going to result in players like myself buying everything to flip it for a profit.

That ok with me im just out for the peeps

Viveun

KiritoUD wrote: »

I know its time consuming and im prepared for that and im starting out with somewhere around 15k. I started this guild to start providing items for lower prices so more people can afford the items that are more rare.

A heroic endeavor, but ultimately a fruitless one. You're not going to be helping the poor, you're going to be padding the pockets of wealthy flippers like myself.

I manage the trading/revenue side of a large Xbox NA guild (Unrest). I don't want to discourage you, but know that at this point new trading guilds have huge obstacles to overcome to be at all competitive in the current market, especially if the GM is not already sitting on a fat coin purse. First and foremost, you need to become familiar with the market and all things trade in the game. The GMs of all trading guilds should well versed on the state of the economy. Join some high end traders. Start expanding your knowledge base of market value. Build your own personal wealth first, because you're going to desperately need that capital.

I have a link in my signature to a market pricing guide for Xbox NA that I update intermittently. It can help you get started.

Once you start feeling comfortable with the market, then work on membership. Get to 50 and get a trader ASAP. Traders expect consistency, so start somewhere you can for sure maintain for awhile before moving up the tiers in terms of trading hubs. To put it into perspective, the top four trading zones (Mournhold, Elden Root, Wayrest, and Rawl'kha) regularly run anywhere from 1.5mil (a cheap bid) to over 5 mil a week. One of my strongest trading guilds got out bid last week on an 8mil bid.

You might as well not have a trader if you're going to gun for wilderness/refuge locations. I would consider areas like Daggerfall, Bandari, Riften, or Orsinium for cheap(er) but still somewhat desirable trader locations.

Understand that traders do not make guilds wealthy, they make guild members wealthy. It's trying to wrestle some of that wealth back from your members that's a challenge. You're only going to get a cut of 3.5% from every sale made. We generally sell around 10-20 mil worth of items on our trader a week, meaning we're only bringing in 400-600k on sales weekly. Not enough to cover even half of a bid. The rest we secure from dues (we have generally 150 due paying members a week at 5k a pop - we're a social guild first, trader second), raffles, loyalty membership fees, auctions, and cuts from our RGB dealers.

Our downfall on console is lack of addons. We have a lot less access to vital information than PC users. We can not differentiate between who is regularly selling and who isn't. This is largely why console traders have dues and PC ones don't - so we can separate serious traders from those who aren't really moving anything. I would recommend starting around 2k and bump your dues as you prove you can be consistent/move up to better trading stalls. SPREAD SHEET YOUR DUES AND STAY ON TOP OF THEM. Traders are lazy. If you don't regularly demote, they'll stop paying for as long as they can get away with it. May feel like you're being the bad guy, but you're not.

Lastly, don't let yourself get too frustrated. It's a very slow process if you're starting from nothing. We've been around for 7 months now and have gone from being excited to have 300k in our bank to regularly bringing in 2-3mil a week with ease.

failkiwib16_ESO

I also don't recomend you to start a guild, if you are not cp160 yet. The experience alone, the understanding of the game mechanics and gear will help you a lot - while if you are low level, then you are potentially setting yourself up in a trap, full of fail and potential financial loss for both yourself and your guild.

This is how trading guilds are often made:
Invite all players and don't discriminate between what level the players are and how much they sell.
When guild reaches 50 members, ask for donations for a trader but don't require it.
When guild reaches 250 members, business start getting serious - find a better trader.
When guild reaches 450 members, you better be at a good spot in a main city of a map. The cheapest ones here cost 300k a week. If you don't you don't get much donated, then you have to compensate for it as a guildmaster - because if you don't, then your guildmembers will leave fast. We're talking between 10-30 guildmembers leaving your guild in 1 day ..every day! Because if your guildmembers can not sell to other than the guild itself, it will be a 99% profit loss for them.
When a trader is settled, and other trading guilds are backing off with competition and aknowledging your existance, you can start being picky with members, and invite only low levels who intend sell certain items or veterans only to attract power sellers.

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@Viveun I am curious, is Craglorn not a desired location on XBox platform?

I play on PC/EU so it's the best trader location for us, since all 3 alliances can go there and it's veteran exclusive ... however on PC/NA it is a bit different.

I got a refuge trader for my own guild and 2 other social guilds I'm officer in, however I do loose some bids to smaller trading guilds who are starting up every now and then. They're often around 10-15 active sellers, and once they grow above 30 active sellers they go to better locations. I hate the competition because the 3 guilds I bid for are social guilds, so it hurts my economy to overbid trading guilds that gather donations >.<

Viveun

@failkiwib16_ESO Once upon a time, Craglorn was the best trading spot for console too. It started to decline post IC and then crashed after Orsinium dropped. It's a ghost town now that end game PvE has shifted away from Craglorn and most of the content there is soloable.

That being said, it's still decent for sales. I'd put it below the top four I listed, but above the other ones. The lower four stalls generally have good stock. The upper three would probably be pretty cheap to take over.

The best place to be selling in Xbox NA right now is Mournhold, followed closely by Rawl'kha imo.

failkiwib16_ESO

@Viveun I am curious, is Craglorn not a desired location on XBox platform?

I play on PC/EU so it's the best trader location for us, since all 3 alliances can go there and it's veteran exclusive ... however on PC/NA it is a bit different.

Viveun wrote: »

@failkiwib16_ESO Once upon a time, Craglorn was the best trading spot for console too. It started to decline post IC and then crashed after Orsinium dropped. It's a ghost town now that end game PvE has shifted away from Craglorn and most of the content there is soloable.

That being said, it's still decent for sales. I'd put it below the top four I listed, but above the other ones. The lower four stalls generally have good stock. The upper three would probably be pretty cheap to take over.

The best place to be selling in Xbox NA right now is Mournhold, followed closely by Rawl'kha imo.

Thank you for answering my question. Craglorn on PC/EU is still active, because all 3 alliances can get there - many players didn't bother questing with their alts, and just grinded their way up - they could always access Craglorn but not Silver and Gold, so Craglorn is number 1, Rawl Ka 2, main 3 cities 3, first large map of each town 4 - excluding DLC areas...

DLC outside and refuge is as popular as Craglorn for us the first few weeks, then it slowly turns into level of the 3 main cities in sales, and after 2 months it is below those. Items sell for higher prices there, but less buyers.

bryanhaas

KiritoUD wrote: »

I know its time consuming and im prepared for that and im starting out with somewhere around 15k. I started this guild to start providing items for lower prices so more people can afford the items that are more rare.

Most traders are at least 300k to 500k. It will take a long time to get to the point of having even a crappy trader every week. Maybe like 6 months, then why would someone want to join a trading guild. whose goal is to sell things cheaper? The point is to make gold. Don't get me wrong I'm not trying to say it's a stupid idea just that it isn't terribly viable, maybe you can make it work but it is going to be an uphill battle for sure.

failkiwib16_ESO

bryanhaas wrote: »

KiritoUD wrote: »

I know its time consuming and im prepared for that and im starting out with somewhere around 15k. I started this guild to start providing items for lower prices so more people can afford the items that are more rare.

Most traders are at least 300k to 500k. It will take a long time to get to the point of having even a crappy trader every week. Maybe like 6 months, then why would someone want to join a trading guild. whose goal is to sell things cheaper? The point is to make gold. Don't get me wrong I'm not trying to say it's a stupid idea just that it isn't terribly viable, maybe you can make it work but it is going to be an uphill battle for sure.

It's not just an uphill fight xD

I've seen refuge bids go between 3k-150k a week. May I note that refuges don't cash in more than 3k-40k a week max, and that the 150k usually comes from smaller non-veteran trading guilds who gather donations from their members, but due to lack of profit they always move on and try to get a location at the outside world instead.

The traders in the outside world - the cheapest in the most unvisited areas cost 30k+ and traders inside towns cost 150k-300k and 300k-3million in the most crowded towns & DLC locations.