Billionaires in ESO? [Economy Question]

mdylan2013 · February 2019

I’ve got 60mill atm, just from farming mainly

xenowarrior92eb17_ESO · February 2019

most replies here are clearly done by

who never saw how 1 mil gold looks in their eso life...now the real question should be this: HOW MUCH PROFIT DO THE POWER TRADERS THAT HAVE DOZEN OF MILLIONS on sale/week? cuz u can have 100m/w sales and ur whole profit margain be 100k which overall its not that impressive...but overall most people dont like to think deep, they just simply throw words to get attention.

Mr_Walker · February 2019

Prof_Bawbag wrote: »

Mr_Walker wrote: »

Why would I bother spending all that time and effort to collect fake money?

Probably for the very reason some people run the same dungeons ad nauseam or that some people do the same thing as they have done in game for the last 4 or 5 years. Or the people who run around collecting fake gear to run fake dungeons. Nothing in game extends to real life. Nothing. Just because you don't see a point to a certain aspect of the game, doesn't mean it's utterly pointless to others. Like my gaming habits in game, your habits will be utterly pointless too.

Once you get past a certain level of gold, it is in fact pointless.

What are you going to spend 5B gold on?

Minno · February 2019

I'm fine at 100k each time, I usually save 20% of my earnings. Not likei have to worry about health insurance; he keeps coming back to life lol.

Cryptical · February 2019

Yoku wrote: »

Dude, there are more people that are by far not so loaded. i know more people that don't even have 1mio then people that do. I don't even have 1 Mio because it mamkes no sence. Why would you wanna have so much money you can't spend?? Think about it maybe some illegal activities

Actually, it takes much much more than that to grind through and learn all motifs. For the final push of about 30 individual chapters I went around during a motif event and spent over a million.

The first million I had was from selling the raw fish from earning Master Angler, when a full stack would sell for 35k.

Go to guild traders and look at what motifs are selling for 40k-plus. Go farm those chapters, and you’ll see just how easy it can be to stack up a million gold.

Edit: oh also, I know of a couple people that allegedly had to make another account just because they could not deposit any more into their bank. And having experienced how some of the game’s activities simply result in gold flowing in and not flowing out, I can believe that focusing on those activities can end up with a maxed bank.

Linaleah · February 2019

at the moment I'm down to about half a mil in my bank and about 400k in spending money, cause I splurged on a manor house AND traded a whole lot of gold for crownstore items (costumes, that recent kitty mount and 2 packs of vivec's decorations) and to be honest, I was down to about 80k gold last friday. what I have right now was made in about a week and now i did NOT invest any gold into it, I do not resell, way too lazy for that. some of the stuff I sold through guild trader, I'm currently farming for some alinor recipes I'm still missing so any dupes i get - i list. a lot of it was made via doing daily crafting writs on 10 characters. 4 of them are max level but 6 - are at rank 1. at rank 1 crafting - its for all intents and purposes self supporting, especially gear crafts. alchemy and enchanting can get iffy at times and require minor farming here and there to support, but everything else - you get more mats back in those profession coffer rewards, than you spend. (for example, it may take 19-20 jute to craft your daily requirement, but you get 25 jute back you may spend 6 pewter on your jc daily, but you get back 5 pewter and either ornate or intricate pewter jewelry that worst case scenario when deconstructed - gets you even)

it is amazing how much crafting money adds up. and your character only needs to be lvl 6 to start it. thievery even while you are still leveling - is great. even if you only have base game and cannot go into DLC areas, there are several places with plenty to steal and no one around so you never get caught and get bounty so grabbing everything and fencing it for more gold - is super fast and easy.

in real life - there is competition for jobs. money is finite. so are opportunities. in video games, especially ESO - quest givers never run out of gold. no matter how many people rifle through cupboards before you - there is still loot waiting for you in them, becasue they are instanced. there is no unfairness to making gold in ESO, even the newest poorest player can make gold pretty fast and easily and the only thing that can stop them is their own inclination or available to to invest into making gold.

and no, its not for status. only reason i make gold is because I love housing and decorating costs gold. crafting furniture if I'd rather not spend a ton of time farming (which I don't, at least for furniture mats) - costs gold . lux/achievement/general vendors - gold. I make only as much as i spend, BECAUSE i spend.

and I used to be ridiculously poor. like... "I cannot afford to feed my horse today" poor. but they made it far FAR easier to make gold nowadays even if you absolutely positively have zero desire to get into trading game.

zyk · February 2019

NoTimeToWait wrote: »

zyk wrote: »

I'm very far from a Billionaire and I'm mostly retired from trading for now, but from my freewheeling trading days last summer:

#dunmermastermerchantrace

Just a question, where would you place yourself among other traders on the server? Top 10, Top 20, Top 30, Top 50, Top 100? Would like to compare your guess with my current market estimate.

And how would you estimate your returns from those sales: 10% of sales as a total net gain, 30%, 50% or higher?

I would likely place you among Top 30 traders on the server with around 20% profit from those sales.

Well, during that period which only lasted something like 2 months, I was probably up there in terms of revenue on PC/NA because I was close to outselling the next three players combined after me in what is/was regarded as the top trading guild. Hardcore harvesters were making the most pure profit during that period though IMO.

The margins were good. I was striking while the iron was hot. I know traders who will lose gold to 'beat' someone as I've competed with that kind of player before -- and could see they were selling for less than they were buying -- but I would never go there. I trade to make gold, not to 'win'. I get stressed if I have to sell something for a loss.

StormChaser3000 · February 2019

FrancisCrawford wrote: »

StormChaser3000 wrote: »

I make 1 million gold a week. It's a bit tedious tho.

I guess it's possible to become a billionaire, you just have to grind IC 24/7 with a solid group.

I assume the big Telvar stone farming numbers coming from killing mobs than other players? What range of group sizes is optimal?

@FrancisCrawford I tried telvar farming only once during Mayhem event in a group of about 4 people so I'm not a good advisor. Also it can be a bit annoying if you bump into zerg group having a pile of stones on you...

I personally prefer other methods of money making.

DaveMoeDee · February 2019

I have about 9m gold now. The only grinding I ever did for the sake of gold has been grinding motifs during Jubilee events and grinding jewelry to sell/flip when Summerset launched. I suppose crafting writs on alts can be added to that list. I haven't really sold many mats apart from a few times where prices spiked.

I don't spend much. If there is jewelry in the golden vendor I might buy that with gold. I rarely have enough AP for that.