How will the housing gold sink affect the trading economy

skiptomyluau · January 2017

Seeing as such a large chunk of the global cash supply is going to vanish, we could see in-game deflation, or an increase in purchasing power per coin. Some real opportunity to hold off on buying the house (or use crowns) and there could be some real bargains in the guild stores imo

AzraelKrieg · January 2017

With people buying houses and wanting to furnish them, they'll want to make quick money. To make quick they'll have to sell normally high priced items lower so they can get the sale as other players will have less gold to spend because of buying houses and items to furnish them.

Protocol117 · January 2017

I really hope so. Quite a few motif pieces I've had my eye on.

AzraelKrieg · January 2017

Zombie.rapistb14_ESO wrote: »

I really hope so. Quite a few motif pieces I've had my eye on.

Those naturally drop in price as time goes on but items such as Legendary level tempers will drop in price. Kuta may go up as they are used in the Target Skeletons

EvilCroc · January 2017

I want to buy house, but I do not want to furnish it by myself. It is pain to see absolutely empty house and think about all those items I need to craft or buy to make it living place. No, Crown Store and pre-furnished houses are only options for me. I'll by with game gold only inn rooms. They are small and easy to furnish. But not houses or manors, no no no, thanks.

Hammy01 · January 2017

In my opinion... Those who have will always have and never have to worry. Those who have not are going to struggle even more.

DigitalShibby · January 2017

I can't see it having that large of an impact on the economy because of the crown store purchase option. You can get the entire home pre-furnished or buy individual furnishings through the crown store as well. We are talking about over 2000 new items to use crowns on in a single update. I could be wrong but from what it looked like to me on the PTS the furniture had crown costs that varied.
I may be a multi-millionaire in ESO but to me it's smarter to buy a home with crowns and save my gold for things like expensive gear, potions, weapons, tempers.

Jimbullbee85 · January 2017

It will be interesting to see how the ESO economy will be affected. I predict that most things in the guildstores will drop in price simply because players will be concentrating on saving and making gold rather than buying. It'll be easier to buy items needed for home improvements but harder for everything else. Sellers will have to drop prices in order to get quick sales but also have to be selective with what they're selling so that their 30 lot limit in each trader is being used efficiently.

Cherryblossom · January 2017

I'm sorry, I thought you said economy.

you do realise that only at the best 10% of the community is capable of actually selling to the community right!

Artemiisia · January 2017

there will be people even with lots of gold that wont buy the big castles, for me as an example I wont buy them, since if I buy them I will have a huge empty castle for a while, knowing I have to find all the recepies and craft stuff first

Danikat · January 2017

I think it will definitely have an impact on the in-game economy. Even if it's intended to push people towards the crown store and so the prices there will be very reasonable (e.g. 5,500 for a manor and less for the smaller ones) there will still be a lot of people choosing to spend gold and so a lot of gold vanishing from the economy.

I don't know how noticeable it will be without a global market to help track the economy, since prices vary wildly between guild traders and I wouldn't be at all surprised to see some people massively over-pricing their items in the hope of making more gold at the same time as others are reducing the price for a quick sale.

I don't imagine it will cause mass deflation and everyone richer than me (basically everyone) will suddenly be as broke as I am and pricing everything at my level. But I suspect we might see a noticeable drop in things like bids for trader spots or trade guild fees, as well as the popularity of things like guild lotteries.

skiptomyluau · January 2017

I wish we had a GDP figure, and population. I'd be curious to know what the avg net worth of a player is. Then we could maybe pin a guesstimate of what % of the worlds gold might drop. I'm guessing somewhere in the neighborhood of 10-20%.

Pandorii · January 2017

I don't think furniture crafting will be easily lucrative. There are way too many different pieces and different preferences. Say i sell 30 pieces of different furniture, what are they chances that those will be the ones a person is looking for?

On consoles, without a search feature or better filters, items will get lost in the trader if they don't sell on the first day like motifs do.

milkbox · January 2017

Farmers who don't care about housing will make a bundle. Heartwood, Bast, Regulus, Decorative Wax, Mundane Stones and Alchemical Resin will be in high demand. All tempers and style stones will be required to make furniture, (and tempers for writs, too)- so I'm guessing those will go up.

If the chances of getting master writs is dependent on how many motifs you know, those will go up, too. Same with blue and purple recipes.

People who are super into housing but don't want to farm are going to be the big spenders, and I predict world-wide irritation over node ganking.

I'm looking forward to it ;p

driosketch · January 2017

Everything needed for furnishings and master writs are probably going to se a bit of an increase. Everything else, like weapons or rings may see a drop as gold gets used up and people try to undercut for a quick buck.

NewBlacksmurf · January 2017

No one really knows.

I could argue negatively assuming a group of players or even a guild decide to pool their resources together

But it's all player behavior based

There will be positive and negative effects.
I will say that gold gear drops is hopefully part of the next update or changes to improve the chance for yellow upgrade mats

Glaiceana · January 2017

Yes as others are saying, depending on what is used in the new furniture crafting once it goes live, those items will increase in price. For instance I believe style items like bone will increase slightly. Gold tempers may increase. Especially with the new Master Writs, which demand Legendary quality items. The supply of tempers will dwindle, since so many more will need to be used rather quickly, and I don't think people will be able to farm them quick enough to keep up with the new demand. So the price may inflate.

idk · January 2017

Should be a robust economy based on the new items being added. It'll be grand.

anitajoneb17_ESO · January 2017

Pandorii wrote: »

I don't think furniture crafting will be easily lucrative. There are way too many different pieces and different preferences. Say i sell 30 pieces of different furniture, what are they chances that those will be the ones a person is looking for?

Finished items probably won't - for the reasons you mention. But everything needed for crafting those things will go up the roof in prices (recipes and ingredients). I also expect motifs to "revive" in prices since it will make sense to even have alts learn them - for the master writs.

MasterSpatula · January 2017

Yeah, normally I would think a sizable gold sink would have a noticeable counter-inflationary affect. But these house prices are so extreme that they could have the opposite effect. People may become so desperate for gold that the price of most things will go up.

I can say for certain I already no longer price things "to move."

psychotic13 · January 2017

It's already started, alloys have dropped by like 20%

srfrogg23 · January 2017

I think ESO is going to move more toward an EVE online type of player driven economy.

Collusion between the top end trading guilds, backstabbing, undercutting, intrigue, and role playing aplenty.

Wanna get the best house and furniture for in-game gold? Better start outbidding the other guilds for the best guild trader spots and figure out how to undercut the competition.

Ladies and gentlemen, get your spreadsheets ready, we're going into a franchise war!

Seriously, it'll be fun

skiptomyluau · January 2017

Srfrogg don't think that'll be the case since the houses are instanced. If there were a limited supply then yes.

Hardest thing to pin down for me in that it is a completely consumption based economy. There are no equities, real estate etc. nothing to invest in. Makes it kind of hard to take advantage of the situation.

skiptomyluau · January 2017

Cherryblossom wrote: »

I'm sorry, I thought you said economy.

you do realise that only at the best 10% of the community is capable of actually selling to the community right!

I don't agree. Anyone who can afford to buy can afford to sell. There is zero cost in gathering and harvesting. I make my money selling tempers from refining.

clocksstoppe · January 2017

Short term it will cause some deflation but 2 months after its release its impact will be zero.

srfrogg23 · January 2017

skiptomyluau wrote: »

Srfrogg don't think that'll be the case since the houses are instanced. If there were a limited supply then yes.

Hardest thing to pin down for me in that it is a completely consumption based economy. There are no equities, real estate etc. nothing to invest in. Makes it kind of hard to take advantage of the situation.

EVE is a very consumption heavy economy too, but I can assure you, there is always a profit to be made.

You can craft and sell furniture. Or, you can sell the mats to craft the furniture. Sell anything you can to anyone for any reason.

Because the houses are instanced they'll never be "off the market". They're also a massive gold sink, so there's a lot of incentive to find ways to make more money and faster.

That's going to lead to a lot of competition for sales between trading guilds. That's where the potential for role play is going to shine.

Artemiisia · January 2017

milkbox wrote: »

Farmers who don't care about housing will make a bundle. Heartwood, Bast, Regulus, Decorative Wax, Mundane Stones and Alchemical Resin will be in high demand. All tempers and style stones will be required to make furniture, (and tempers for writs, too)- so I'm guessing those will go up.

If the chances of getting master writs is dependent on how many motifs you know, those will go up, too. Same with blue and purple recipes.

People who are super into housing but don't want to farm are going to be the big spenders, and I predict world-wide irritation over node ganking.

I'm looking forward to it ;p

Style mats for the regular styles can already be bought ingame for 15g a piece

AntMan100673 · January 2017

Mats used for master writs and crafting stuff for housing will probably go up.

There may be a small, short, blip as some players that are just below having enough gold for a house they want stop spending.

For the economy as a whole I don't think they'll be much of an impact as a lot of the gold that gets spent on housing will just be surplus gold that's not active in the economy anyway.

wenchmore420b14_ESO · January 2017

Artemiisia wrote: »

milkbox wrote: »

Farmers who don't care about housing will make a bundle. Heartwood, Bast, Regulus, Decorative Wax, Mundane Stones and Alchemical Resin will be in high demand. All tempers and style stones will be required to make furniture, (and tempers for writs, too)- so I'm guessing those will go up.

If the chances of getting master writs is dependent on how many motifs you know, those will go up, too. Same with blue and purple recipes.

People who are super into housing but don't want to farm are going to be the big spenders, and I predict world-wide irritation over node ganking.

I'm looking forward to it ;p

Style mats for the regular styles can already be bought ingame for 15g a piece

True. But it takes 206 "Bone" (Bosmer Style Mat) to make a Training Skeleton. I actually see this as being very sought after.
Also, my first "Master Writ" called for a Potent Nirncrux, 8 Tempers and crafted in Morkuldin set.
Provisioning recipes, motifs, tempers, style mats, kutas, etc., I think they are all going to go up and be in higher demand.
To the OP, I think this is going to stimulate the economy overall.

milkbox · January 2017

Artemiisia wrote: »

milkbox wrote: »

Farmers who don't care about housing will make a bundle. Heartwood, Bast, Regulus, Decorative Wax, Mundane Stones and Alchemical Resin will be in high demand. All tempers and style stones will be required to make furniture, (and tempers for writs, too)- so I'm guessing those will go up.

If the chances of getting master writs is dependent on how many motifs you know, those will go up, too. Same with blue and purple recipes.

People who are super into housing but don't want to farm are going to be the big spenders, and I predict world-wide irritation over node ganking.

I'm looking forward to it ;p

Style mats for the regular styles can already be bought ingame for 15g a piece

True enough, but something like the target skeleton requires 200+ bone, so maybe I charge 10g and make a quick 2k!

jedtb16_ESO · January 2017

Cherryblossom wrote: »

I'm sorry, I thought you said economy.

you do realise that only at the best 10% of the community is capable of actually selling to the community right!

there is a difference between choosing not to sell and being unable to sell