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Already Seeing the ESO Economy Turn Higher on Quite a bit......
ElderSmitter
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Motif's and rares... I am seeing the inventory available to sell on Motifs Plummet substantially on ones that are harder to get... Especially in Vet Dungeons and older Gold Motif Style Page Masks...
It looks to me like the ESO Economy has bottomed. Dragon Rheum had over 200 Pages 2 weeks ago now about 114 Pages for instance.
Just a few observations
It looks to me like the ESO Economy has bottomed. Dragon Rheum had over 200 Pages 2 weeks ago now about 114 Pages for instance.
Just a few observations
6
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Trier_Sero✭✭✭Nah, it's still in freefall. I sold dreugh wax for 14500-15000 last week and it's 13500-14000 this week already. Less listings just means less people are bothering with trading or playing game altogether.25
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Gabriel_H✭✭✭✭Trier_Sero wrote: »Nah, it's still in freefall. I sold dreugh wax for 14500-15000 last week and it's 13500-14000 this week already. Less listings just means less people are bothering with trading or playing game altogether.
Less listing of Dragon Rheum means less people farming dragons and/or listing Dragon Rheum. Could it be indicative of less people playing? Yes, but there is at least some data out there showing player numbers, that suggests player numbers are comparable to where they were a year ago.
In addition to that "who" isn't playing matters. If newer players are leaving that will drive down prices, but if older players are leaving who already have a lot of things like motifs/furniture/style pages etc then that won't affect prices unless they are mat farmers which would actually push the prices up as supply would fall.1 -
Aurielle✭✭✭✭✭
✭✭✭✭✭Is there really any need for three threads about the economy on the main page?25 -
Bethgael✭✭✭Fewer rheum listings could also mean there are more people playing in Blackwood, where it doesn't drop.
Funnily enough.Ingame ID: Bethgael PC NA/EU but mostly NA3 -
fedouva✭✭✭The economy will always go in waves,I understand that you want to sell the most expensive motifs and items and make billions of gold,but it doesn't work that way)))))))6
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Aurielle✭✭✭✭✭
✭✭✭✭✭Trier_Sero wrote: »
News at six: vocal minorities are vocal. Flippers are upset that they can no longer amass more gold than they could ever spend; the rest of us are just pleased that we no longer have to farm mindlessly for stuff because of ridiculously inflated prices.
Edit: I should actually rephrase that. Flippers can still make more gold than they could ever hope to spend — they just have to put more effort into it now than they did a few months ago.Edited by Aurielle on August 18, 2024 11:35AM16 -
Nharimlur_Finor✭✭✭✭✭ElderSmitter wrote: »Motif's and rares... I am seeing the inventory available to sell on Motifs Plummet substantially on ones that are harder to get... Especially in Vet Dungeons and older Gold Motif Style Page Masks...
It looks to me like the ESO Economy has bottomed. Dragon Rheum had over 200 Pages 2 weeks ago now about 114 Pages for instance.
Just a few observations
I don't understand any of your observations.
What will happen eventually is that the people farming Luminous Ink for their own use will realise that it is more efficient for them to buy it instead.
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Trier_Sero✭✭✭
News at six: vocal minorities are vocal. Flippers are upset that they can no longer amass more gold than they could ever spend; the rest of us are just pleased that we no longer have to farm mindlessly for stuff because of ridiculously inflated prices.
Edit: I should actually rephrase that. Flippers can still make more gold than they could ever hope to spend — they just have to put more effort into it now than they did a few months ago.
I would say more like greedy buyers are happy that they don't have to farm anything and everything is getting served to them on a plate currently on a behalf of mostly honest traders that actually spend their time farming. Of course there are flippers but they are, as you said, a minority.7 -
TheDarkRuler✭✭✭✭✭
✭Trier_Sero wrote: »Nah, it's still in freefall. I sold dreugh wax for 14500-15000 last week and it's 13500-14000 this week already. Less listings just means less people are bothering with trading or playing game altogether.
Tell me when it is at 5k so it is affordable for others. The current system is not freefall it is adjusting the hoarding and price gauging of the merchant guilds that took far too long in ESO.5 -
Grizzbeorn✭✭✭✭✭
✭✭✭Trier_Sero wrote: »Nope, I'm okay with selling cheap as long as crown rates go down accordingly, but I don't see that happening.
Crown rates have dropped precipitously.
Just a few months ago the rate on PC/NA was 2500:1. Now it's at 1600:1.
(*numbers from Tamriel Crown Exchange guild.)
You get what you get if you choose to deal with scalpers in Zone chat; I seriously doubt they follow the market trends.Edited by Grizzbeorn on August 18, 2024 12:24PM7 -
Aurielle✭✭✭✭✭
✭✭✭✭✭Trier_Sero wrote: »
News at six: vocal minorities are vocal. Flippers are upset that they can no longer amass more gold than they could ever spend; the rest of us are just pleased that we no longer have to farm mindlessly for stuff because of ridiculously inflated prices.
Edit: I should actually rephrase that. Flippers can still make more gold than they could ever hope to spend — they just have to put more effort into it now than they did a few months ago.
I would say more like greedy buyers are happy that they don't have to farm anything and everything is getting served to them on a plate currently on a behalf of mostly honest traders that actually spend their time farming. Of course there are flippers but they are, as you said, a minority.
“Greedy” buyers, or just regular players who don’t spend their time playing the market 24/7? 50k Dreugh Wax was completely ridiculous, a sign of an unhealthy economy fuelled by rampant inflation. How does 50k Dreugh Wax foster player growth and retention? Newer players to the game want to gear up, and having to spend 400k gold just to gold out one single piece simply turns them away.11 -
Vulsahdaal✭✭✭✭✭
✭I havent seen any indications of prices going higher. If there are less listings, could be that others are like me and have stopped selling for now, at least anything of value.
ESO economy is at a strange point for me. For years I just sold the good stuff and trashed the garbage. Now its sell the garbage and trash the good stuff. Go figure?0 -
Aurielle✭✭✭✭✭
✭✭✭✭✭xclassgaming wrote: »
Out of curiosity, what is your primary activity in game? Do you just trade? Farm gold to buy Crowns?
I don’t see a dying economy — I see an economy correcting itself after months upon months of out of control inflation. All bubbles eventually burst.9 -
Aurielle✭✭✭✭✭
✭✭✭✭✭Vulsahdaal wrote: »I havent seen any indications of prices going higher. If there are less listings, could be that others are like me and have stopped selling for now, at least anything of value.
ESO economy is at a strange point for me. For years I just sold the good stuff and trashed the garbage. Now its sell the garbage and trash the good stuff. Go figure?
Why are you trashing the good stuff? It will still sell — you just have to price it lower, or you can hoard it in the hopes that rampant inflation will take over again. Trashing it is just throwing money away.4 -
Pevey✭✭✭✭✭
✭✭Trier_Sero wrote: »
News at six: vocal minorities are vocal. Flippers are upset that they can no longer amass more gold than they could ever spend; the rest of us are just pleased that we no longer have to farm mindlessly for stuff because of ridiculously inflated prices.
Edit: I should actually rephrase that. Flippers can still make more gold than they could ever hope to spend — they just have to put more effort into it now than they did a few months ago.
I would say more like greedy buyers are happy that they don't have to farm anything and everything is getting served to them on a plate currently on a behalf of mostly honest traders that actually spend their time farming. Of course there are flippers but they are, as you said, a minority.
“Greedy” buyers, or just regular players who don’t spend their time playing the market 24/7? 50k Dreugh Wax was completely ridiculous, a sign of an unhealthy economy fuelled by rampant inflation. How does 50k Dreugh Wax foster player growth and retention? Newer players to the game want to gear up, and having to spend 400k gold just to gold out one single piece simply turns them away.
There is no arguing facts when someone calls buyers greedy. Buyers either buy or don’t buy, according to their preferences. That is all.
The same happens in real life with some stock brokers or house flippers. When prices are going up, they think any amount is fine. It’s a free market, if you don’t like it don’t buy it, yada yada.
Then people actually stop buying at ridiculous prices, prices go down, and these same people scream for “government” (in this case ZOS) to step in.
In the wise words of Sharp-as-Night: “Ugh. People.”9 -
Vulsahdaal✭✭✭✭✭
✭Vulsahdaal wrote: »I havent seen any indications of prices going higher. If there are less listings, could be that others are like me and have stopped selling for now, at least anything of value.
ESO economy is at a strange point for me. For years I just sold the good stuff and trashed the garbage. Now its sell the garbage and trash the good stuff. Go figure?
Why are you trashing the good stuff? It will still sell — you just have to price it lower, or you can hoard it in the hopes that rampant inflation will take over again. Trashing it is just throwing money away.
Oh I tried the price lower thing first, nope still dont sell. Thats when I knew something was wrong. Just about a month after Gold Road dropped, I had already started trashing blue and purple colovian furnishing plans. After putting them up twice, Im not going to keep dumping money into listing fees, to me that is throwing money away.
(And tbh, I broke my own rule there. Usually if something doesnt sell the first time, I figure people dont want it, so I trash it and try something different that may be more popular.)
As far as just stashing it, I like to keep my inventory light. Mats dont matter as I have the craft bag, but its very rare for me to put mats for sale anyway. I mainly sell motifs and furnishing plans, which no one is buying now, not even with the low mat prices out there.
Well, except for base game green plans. I used to auto-trash those, but for some reason I can sell those all day long for 300 each. Something isnt right here, but as to exactly what that is, I have no idea?4 -
Aurielle✭✭✭✭✭
✭✭✭✭✭Vulsahdaal wrote: »Vulsahdaal wrote: »I havent seen any indications of prices going higher. If there are less listings, could be that others are like me and have stopped selling for now, at least anything of value.
ESO economy is at a strange point for me. For years I just sold the good stuff and trashed the garbage. Now its sell the garbage and trash the good stuff. Go figure?
Why are you trashing the good stuff? It will still sell — you just have to price it lower, or you can hoard it in the hopes that rampant inflation will take over again. Trashing it is just throwing money away.
Oh I tried the price lower thing first, nope still dont sell. Thats when I knew something was wrong. Just about a month after Gold Road dropped, I had already started trashing blue and purple colovian furnishing plans. After putting them up twice, Im not going to keep dumping money into listing fees, to me that is throwing money away.
(And tbh, I broke my own rule there. Usually if something doesnt sell the first time, I figure people dont want it, so I trash it and try something different that may be more popular.)
As far as just stashing it, I like to keep my inventory light. Mats dont matter as I have the craft bag, but its very rare for me to put mats for sale anyway. I mainly sell motifs and furnishing plans, which no one is buying now, not even with the low mat prices out there.
Well, except for base game green plans. I used to auto-trash those, but for some reason I can sell those all day long for 300 each. Something isnt right here, but as to exactly what that is, I have no idea?
If stuff you’re listing is not selling even at low prices, that means no one wants it (ergo: might not be the valuable item you think it is). Why waste time farming motifs and blue/purple furnishing plans if they’re not selling anymore? As has already been pointed out, the ridiculous prices for housing stuff drove a lot of housing enthusiasts away, so it’s not surprising that blue and purple furnishing plans aren’t selling like they used to.
You may want to consider selling crafting mats, as there’s more demand for them than you might think. You only need enough mats to sustain your writs. There’s really no need to hoard thousands upon thousands in your crafting bag — especially not when there are still plenty of newer players coming and going who need affordable mats for crafted gear.
I only subscribe a few times every year and basically do all my crafting surveys when I’m subbed to load up the craft bag. I then make millions of gold every week when I’m not subbed by selling refined mats from my craft bag (plus any excess I pick up) at reasonable prices that newer players can afford. I use the lowest end of the recommended range on TTC for my listings, and they always sell within a day or less of posting.
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Grizzbeorn✭✭✭✭✭
✭✭✭Vulsahdaal wrote: »Just about a month after Gold Road dropped, I had already started trashing blue and purple colovian furnishing plans. After putting them up twice, Im not going to keep dumping money into listing fees, to me that is throwing money away.
You get the listing fee back if an item doesn't sell.
Wrong.Edited by Grizzbeorn on August 19, 2024 7:30AM0 -
ElderSmitter✭✭✭✭✭Trier_Sero wrote: »Nah, it's still in freefall. I sold dreugh wax for 14500-15000 last week and it's 13500-14000 this week already. Less listings just means less people are bothering with trading or playing game altogether.
Less listing of Dragon Rheum means less people farming dragons and/or listing Dragon Rheum. Could it be indicative of less people playing? Yes, but there is at least some data out there showing player numbers, that suggests player numbers are comparable to where they were a year ago.
In addition to that "who" isn't playing matters. If newer players are leaving that will drive down prices, but if older players are leaving who already have a lot of things like motifs/furniture/style pages etc then that won't affect prices unless they are mat farmers which would actually push the prices up as supply would fall.
No Dragon Rheum was giving out for reward boxes. It has nothing to do with the amount of people killing dragons. When ESO was at its Peak Rheum only had a max of 20 pages at any given time. It ballooned in the last event because eso gave out 20 per box at an incredible high rate and it mostly entered the market.0 -
rothan117✭✭✭I sold all my dragon rheum off and I am not farming anymore, so the supply is starting to adjust to the reduced demand. Which is basic economics in a deflationary economy.0
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Orbital78✭✭✭✭Fewer rheum listings could also mean there are more people playing in Blackwood, where it doesn't drop.
Funnily enough.
Rheum just has less demand with scribing, and farming dragons takes effort. At a certain point I value my time and mats more than market value and will just hold onto them for personal stash. I would never sell most gold mats.
Motifs are silly low value mostly, which was the main reason I ran random vet dungeons. I don't expect to run pug dungeons again until the undaunted event. Tbh I'd probably be better off just soloing base game normals though.Edited by Orbital78 on August 18, 2024 2:41PM0 -
CrazyKitty✭✭✭✭✭ElderSmitter wrote: »Motif's and rares... I am seeing the inventory available to sell on Motifs Plummet substantially on ones that are harder to get... Especially in Vet Dungeons and older Gold Motif Style Page Masks...
It looks to me like the ESO Economy has bottomed. Dragon Rheum had over 200 Pages 2 weeks ago now about 114 Pages for instance.
Just a few observations
The market is still crashing, and the crash is accelerating, not slowing down. It's getting harder and harder to sell things at any price, even at 30% of what that item was worth 3 months ago.5 -
CrazyKitty✭✭✭✭✭Grizzbeorn wrote: »Vulsahdaal wrote: »Just about a month after Gold Road dropped, I had already started trashing blue and purple colovian furnishing plans. After putting them up twice, Im not going to keep dumping money into listing fees, to me that is throwing money away.
You get the listing fee back if an item doesn't sell.
I'm pretty sure this is not the case. I don't think I've ever gotten my listing fees returned with the listed item in my mail.
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Grizzbeorn✭✭✭✭✭
✭✭✭CrazyKitty wrote: »Grizzbeorn wrote: »Vulsahdaal wrote: »Just about a month after Gold Road dropped, I had already started trashing blue and purple colovian furnishing plans. After putting them up twice, Im not going to keep dumping money into listing fees, to me that is throwing money away.
You get the listing fee back if an item doesn't sell.
I'm pretty sure this is not the case. I don't think I've ever gotten my listing fees returned with the listed item in my mail.
ARGH! You're right. I had it backwards. You get the fee back if it sells.
Sorry! Sleep-deprivation...
EDit: Right? Ack. Now I need to go check....Edited by Grizzbeorn on August 18, 2024 4:39PM0 -
Ph1p✭✭✭✭✭The 1% listing fee is always gone forever, whether the item sells or not. Otherwise people could abuse the guild traders as extended inventory by listing items at exorbitant prices.3
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Grizzbeorn✭✭✭✭✭
✭✭✭The 1% listing fee is always gone forever, whether the item sells or not.
No, it isn't.
I just checked on an item that sold this morning.
I listed it at 2,700. The listing fee was 27.
The House Cut was 189. Profit was 2,484.
I received 2,511, which is 2,484 plus 27.
Edited by Grizzbeorn on August 19, 2024 7:32AM1 -
Desiato✭✭✭✭✭
✭Trier_Sero wrote: »I would say more like greedy buyers are happy that they don't have to farm anything and everything is getting served to them on a plate currently on a behalf of mostly honest traders that actually spend their time farming. Of course there are flippers but they are, as you said, a minority.
"Greedy buyers" is a new one! Of course *everyone* would prefer to pay less for something.
These forums.....spending a year dead for tax reasons5
