How does the economy work?

Ryknos

Just as the title says, I'm new and was wondering how the economy works, I've seen people on my trading guild post pictures of people selling a stack of say 200 iron ingots for 15k and meanwhile I'm selling mine for about 1k at lvl 25. My guild mates told me that at CP levels (which I haven't reached yet), the economy changes where you start seeing stuff like this but I don't understand it, most of the stuff I see being sold on my MM addon are just lower than 1k in sales.

RebornV3x

well there is an event going on right now one that is crafting oriented this week. Iron is the lowest level blacksmithing material in the game so people are making alts and crafting low level gear so they can fulfill daily writs to turn in and get rewards so demand is higher than normal.

your level and your crafting level dictate what material you see and are able to farm so for instance a max level character and max lvl in crafting will only ever see Ruby Ore nodes (CP150+) so its almost impossible to farm for lower level mats like Iron on a max level character unless you have a low levl alt character to farm that level of mats

I hope that kinda explains things

Ryknos

RebornV3x wrote: »

well there is an event going on right now one that is crafting oriented iron is the lowest level blacksmithing material in the game so people are making alts and crafting low level gear so they can fulfill daily writs to turn in and get rewards so demand is higher than normal.

your level and your crafting level dictate what material you see and are able to farm so for instance a max level character and max lvl in crafting will only ever see Ruby Ore nodes (CP150+) so its almost impossible to farm for lower level mats like Iron on a max level character unless you have a low levl alt character to farm that level of mats

I hope that kinda explains things

Not exactly, on my MM addon I see sales going for 1000 or lower for some stuff. On my guild mates they see:

VaranisArano

MM uses the data from your guilds. So if they are in different guilds than you, your price data will differ.

Lightspeedflashb14_ESO

They recently changed writs, lower level ones are basically self sustainable, as in you get around the same amount of mats you put in. No idea how people need to buy more of them maybe style stones but not mats.

Bladerunner1

If you want another source for the price of things that are actually bought rather than just list price you can check here

https://esosales.uesp.net

Oreyn_Bearclaw

Buy Low, Sell High.

Ryknos

I just don't understand how someone would pay 15k for a stack of iron ingots, when I can buy a stack for 1k... maybe I should just overprice the hell out of everything.