I'm a millionaire! Woot!! But is a million what it used to be?

Amadis001

Just hit 1M gold last night. Feeling pretty good right now.

I've only been playing since December, so I don't really know enough to be sure, but it seems like a lot to me. On the other hand, I see these multi-million-gold trades in the chats and people are gobbling up huge master writs as fast as they're found, so clearly I'm still a pup.

So I'm curious -- how much gold do the whales of the trading guilds have? And how much would you say an average player has? What does it take to be a fat cat in ESO?

imnotanother

Mo' money mo' problems

andreasranasen

ME:

Waffennacht

It's a lot for the vast majority of players. At once I've only had a max of 200k gold

jedtb16_ESO

since homestead hit i have spent 5 million...... still got about 7 mil left.

NewBlacksmurf

You have more than I've ever had.

I'd say you're doing great but in terms of what's a lot.....
-1 mil is a lot of it was quests, grind, normal play
-1 mil is very little if you're doing it via trading or playing the market
-1 mil isn't nearly enough if you're a GM and bid on a trader

MAEK

It's more than most have I'd say, but there's also many multimillionares who could easily buy a mansion or two just because.

Personally I'm about 10k shy of being a millionare myself, and then I just need about 300k more to buy my house...

MAEK

Waffennacht wrote: »

It's a lot for the vast majority of players. At once I've only had a max of 200k gold

If you do writs and get a master writ for many vouchers, I'd recommend selling it. I got one for 101 vouchers and managed to sell it for 750k, and I probably could've gotten even more.

Amadis001

MAEK wrote: »

If you do writs and get a master writ for many vouchers, I'd recommend selling it. I got one for 101 vouchers and managed to sell it for 750k, and I probably could've gotten even more.

Wow. You must play on PC. When Homestead dropped on XBOX, the prices were immediately "only" about 4K per voucher. I think that the fact that the market on PC had already softened after a few weeks and that XBOX players knew it would settle down closer to 2K per voucher meant that even right out of the gate, people were unwilling to pay a lot more than that. It's possible today to buy them for 2-2.5K if you find a very motivated seller, but they still sell for close to 4K a lot of the time.

Nestor

I just hit 7 Million last night. I don't play the market, I only shed excess inventory through guild kiosks. Since 3-2014 I think I have bought 20 items cheap and flipped them, but they were recipes, most bargains I kept.

But, lets talk about gold. First, you can play this game to play the economy, a perfectly valid thing to do. Have fun with that, you will amass lots of gold through time and effort. But, what are you going to do with it? I am willing to bet you have not maxed out your bank bag spaces or your character bag spaces or your horse riding skills? And probably not on multiple characters. That alone is the biggest gold sink in the game, horses and bags. I did not break 100K for the entire first year because I was upgrading bags and horses on multiple characters. It is only in the last 18 to 24 months or so that I went from 1M to 7M.

Then you have housing. And furniture. You can avoid the crafting grind to make furniture by simply buying it. That is the other gold sink for the game.

After that, it's gear you don't want to farm yourself.

Unless you craft and you don't want to farm materials and motifs. Even then, your going to have gear needs that can only be farmed or bought, and sometimes only farmed.

So, you can amass gold for golds sake, but you can't really do anything with it. Or, you can use your gold to improve your character, which is what most people do, and why there is such a split in this game between the sub 100K and the multi-millionaires. Most players, as soon as they have the gold to make the upgrade, they spend it.

You might as well call me Jack Benny because I won't spend more than 2K on a Motif Chapter, when dropping 300K for a complete book would be no thang at all. I craft and farm all my own gear and I don't care if my houses are empty other than a sleeping mat. I will buy some gear that I am too lazy to farm, but that still does not impact my stash. Don't know why I horde it, I guess it's the bargain hunter in me.

Oreyn_Bearclaw

To answer the question, no it is not. When I broke a million the first time, the most valuable piece of gear was in the 25-30k range. I remember buying hawkeye gear at 25k a piece and couldnt believe how expensive it was. Nowadays, 250-350k for a BIS weapon is nothing.

All MMOs experience inflation, because there is no limit on the supply of money. It's one of the reason we have gold sinks. I think there has actually been a touch of deflation with housing, as it sucked a lot of gold out of the economy. Definitely a good thing.

If you want some context, I have spent more and made more this patch then every other combined. I have spent about 4.5 million (housing and gear) and made about 7 million (mostly selling master writ vouchers), so I am in the black by about 2.5 million in a little over a month. I am honing in on 8 figures, once I get there, I will probably take a step back from actively trying to accumulate gold. Remember, a LOT of gold changes hands in the 2-3 weeks following any major patch. A good rule, is always be on the sell side during that time. This patch was particularly kind to me because I had 9 master crafters foaming at the mouth to do master writs.

Gargath

I have 500k I don't need more, I see nothing interesting enough to spend my gold.
All interesting stuff is available for crowns.

In swtor I could at least spend credits for new mount every week.

MAEK

Amadis001 wrote: »

MAEK wrote: »

If you do writs and get a master writ for many vouchers, I'd recommend selling it. I got one for 101 vouchers and managed to sell it for 750k, and I probably could've gotten even more.

Wow. You must play on PC. When Homestead dropped on XBOX, the prices were immediately "only" about 4K per voucher. I think that the fact that the market on PC had already softened after a few weeks and that XBOX players knew it would settle down closer to 2K per voucher meant that even right out of the gate, people were unwilling to pay a lot more than that. It's possible today to buy them for 2-2.5K if you find a very motivated seller, but they still sell for close to 4K a lot of the time.

Actually, I'm on ps4. Master writ prices are crazy, and mine got sold like the day after I listed it.
It was more gold than I've ever had before, and the reason that I will be able to buy a large house (realtively) soon.

wolfdoggie_ESO

I'm accepting donations for the shampoo for all werewolves fund.

Amadis001

Nestor wrote: »

But, lets talk about gold. First, you can play this game to play the economy, a perfectly valid thing to do. Have fun with that, you will amass lots of gold through time and effort. But, what are you going to do with it? I am willing to bet you have not maxed out your bank bag spaces or your character bag spaces or your horse riding skills? And probably not on multiple characters.

Then you have housing. And furniture. You can avoid the crafting grind to make furniture by simply buying it. That is the other gold sink for the game.

Good points. You're right on about bank space; the first thing I did with my "excess" above 1M was to max my main character's bag space. Bank is next. And though I only have one alt so far, and he needs bag space, too.

And no, I haven't bought a house yet. Since I'm still early in the game, working on running all the dungeons, collecting some monster sets and working my way through Cadwell's silver, I made a conscious decision to delay housing, which is both a time and a money sink.I keep the motifs and recipes I need on my crafting alt and sell the dupes. Close to half my 1M comes from flipping master writs.

Nestor

Yes, you wonder where it all went when you have 8 Alts, or more now, and have maxed out the bags and horse training on all of them.

dramsb14_ESO

Holy crap! What is the gold cap in this game per toon, and per bank?

Oreyn_Bearclaw

Amadis001 wrote: »

MAEK wrote: »

If you do writs and get a master writ for many vouchers, I'd recommend selling it. I got one for 101 vouchers and managed to sell it for 750k, and I probably could've gotten even more.

Wow. You must play on PC. When Homestead dropped on XBOX, the prices were immediately "only" about 4K per voucher. I think that the fact that the market on PC had already softened after a few weeks and that XBOX players knew it would settle down closer to 2K per voucher meant that even right out of the gate, people were unwilling to pay a lot more than that. It's possible today to buy them for 2-2.5K if you find a very motivated seller, but they still sell for close to 4K a lot of the time.

The first few days on PC, you saw master writ prices at 6-8k. I sold my first few almost instantaneously at 7k per in a trader. They fell hard and fast, especially with the "deadly strike" bug that was going around. They are less than 2k per now. It is not surprising it didnt spike as high on xbox, because they were able to see what happened on PC. I know my trade guild in Rawlkha shattered our previous weekly sales record by a huge margin that week, although some of that had to do with scroll flipping in addition to master writs.

Number_51

Playing since console release. I don't play the market for it's own sake, it's secondary to doing what I want to do in game. As a crafter I farm motifs a lot. I sell nothing but motifs in two (non-prime location) guild stores and hit 10 million a few weeks before One Tamriel. I spent around 1 million buying up sets (some for myself, some for resale) that were about to become BOP with One Tamriel. I've spent another 1 million on sets I don't feel like farming and housing since the Homestead update. Now sitting on just over 8 million and playing a good bit of PVP (Akaviri motifs seem to sell well).

s7732425ub17_ESO

ZOS has significantly increased the amount of gold being pushed into the economy. The mobs no longer drop 1g per kill- now you get a pretty decent amount. And high level gear (CP150-160) vendors for quite a lot (50-100g per item), so a quick dungeon run can net you thousands of gold.

A year ago it wasn't this way. Money still flowed, but not nearly as much.

MAEK

dramsb14_ESO wrote: »

Holy crap! What is the gold cap in this game per toon, and per bank?

I don't think that there is any. Or if there is one it's probably to high to have been discovered.

Actually, what's the most gold the richest person has ever had? I'd like to know.

VinyParsley2016

I have 5M+ now. I am going to donate 3M to some poor khajiit in Vulkhel.

Cpt_Teemo

I believe people have more gold on consoles than pc atm, one pic I saw someone with 55m highest i've seen at all times on the Xbox 1

s7732425ub17_ESO

dramsb14_ESO wrote: »

Holy crap! What is the gold cap in this game per toon, and per bank?

It's either going to be 2^32 (4 billion), 2^31 (2 billion), or essentially infinite (2^64 or 2^63).

Amadis001

VinyParsley2016 wrote: »

I have 5M+ now. I am going to donate 3M to some poor khajiit in Vulkhel.

What a coincidence. I happen to be a poor Khajiit in Vulkhel Guard.

psychotic13

I spend my gold as soon as I get it

Amadis001

s7732425ub17_ESO wrote: »

dramsb14_ESO wrote: »

Holy crap! What is the gold cap in this game per toon, and per bank?

It's either going to be 2^32 (4 billion), 2^31 (2 billion), or essentially infinite (2^64 or 2^63).

I hope that the first person to hit 2^32-1 gold doesn't earn one more gold and see his bank account roll over to 0.

Rouven

wolfdoggie_ESO wrote: »

I'm accepting donations for the shampoo for all werewolves fund.

I shall donate three boxes of silver shampoo for lasting results.

ADarklore

Nestor wrote: »

Yes, you wonder where it all went when you have 8 Alts, or more now, and have maxed out the bags and horse training on all of them.

^THIS! I would have been a millionaire many times over if it hadn't been spent on upgrading alts... including buying gear, upgrading gear, etc. I still have nightmares about the cost of Agility/Willpower jewelry pieces when they first came out!

Rouven

ADarklore wrote: »

Nestor wrote: »

Yes, you wonder where it all went when you have 8 Alts, or more now, and have maxed out the bags and horse training on all of them.

^THIS! I would have been a millionaire many times over if it hadn't been spent on upgrading alts... including buying gear, upgrading gear, etc. I still have nightmares about the cost of Agility/Willpower jewelry pieces when they first came out!

I only started in october and for my main four characters I probably already spent 500k so far (bags/riding) and for the bank alone I can spend another 660k.

Edit: for clarity and speeling

andreasranasen

ADarklore wrote: »

Nestor wrote: »

Yes, you wonder where it all went when you have 8 Alts, or more now, and have maxed out the bags and horse training on all of them.

^THIS! I would have been a millionaire many times over if it hadn't been spent on upgrading alts... including buying gear, upgrading gear, etc. I still have nightmares about the cost of Agility/Willpower jewelry pieces when they first came out!

Yup! Why i have a lot of in-game money. I really only play on 1 Character. Playing on several will make you go broke It's like having kids. It's expensive as hell to have more than one lol