Making money - how are you all so rich!?

SilverBride · January 12

I don't consider making 1 million a month being rich. I average 3 to 5 million a week and there are many in our guild that are earning a lot more than this.

This makes me wonder what the OP considers rich.

Destai · January 12

PS5-NA Console Player here.

Right now, sitting at 3.1m, and I've found a couple things work for me.
1. Crafting writs. Having multiple toons helps with this, but at max level, that's 5k a day per toon. I do them on my 7 toons most days (status calls are the best time).
2. Thieving. With the appropriate CP slots active, you can net some good money doing this. It's not going to be obscene amounts, but you can make 5k+ gold in a short amount of time and even find some good recipes and mats to sell.
3. Guild trader. You've gotta know what to sell, which itself takes time. I mostly sell excess basic mats, motifs, and popular weapon drops. Also, I'm really happy some people are sharing what they sell. Its shows me something - there's a market for nearly anything.
4. Dungeon farming. My warden's able to solo most base game dungeons, so I do my pledges alone on them and make about 5k to 10k gold doing so just through drops.

Billium813 wrote: »

The amount of mats you get is a trickle compared to what you need. You make it sound like these players that sell their mats have advanced planning too. It doesn't just take "a couple days" to get 50 Columbine, or 100 Heartwood, or 56 Dreugh Wax. Players sell Heartwood, Columbine, Bugloss, Corn Flower, Decorative Wax, Mundane Rune, Tempering Alloy, Dreugh Wax, but they don't get as many as they will end up needing later. AND you end up needing lots of these items in combination, so beware selling something cause you're just gonna need it later and itll suck when you have to wait a month to save up what you need.

Take Heartwood for example. A player that sells the 2-3 they get each day for 3k each will be sorely disappointed in 6 months when they get a nice big house, start to do late game furnishing, and realize they need 1000+. But now, 6 months later, they cost 8k in Guild Traders... It's the same thing with Tempers and pot mats. Players sell them cause they don't need them right now, but in 3 months, they just end up needing them NOW and having to purchase as a rate MORE then they sold them for.

Man, I feel that. I bought Gladesong Arboretum and wanted to start furnishing it. I was totally shocked by how much Heartwood I needed just to get like one little bar/lounge built out. And I really never sell my heartwood or regulus. But now I'm paying way more attention to nodes and actually enjoying my quiet time farming mats and fishing.

Tommy_The_Gun · January 12

Billium813 wrote: »

There are two economies in ESO: 1) ZOS economy, 2) Guild Trader economy

"ZOS economy" is the in-game economy. It includes buy/selling to Merchants, gold dropped in game, selling Treasures/stolen goods, ect. No one is going to make substantial money from this in-game economy. "Guild Trader economy" is where you really make money. Personally, I recommend being in multiple Trade Guilds. Prioritize the Guilds with nice locations, or even some sub-prime locations are ok... depending on what you sell.

For me, I make money off of the laziness of the average player. I sell common pots and purple quality crafted gear. I'm in 4 Trading Guilds and the turnover is nuts. For example, I think it would surprise people just how many players are too lazy to craft Order's Wrath (yes, ik it's a dlc set but eso+ has it and the trait requirement is low)... In 2023, I sold over 1000 complete sets of Order's Wrath. That's just one thing I sold, made me over 50m in 2023, and took me 10 minutes a day to keep on top of.

Making money in ESO is insanely easy...

Well, the main difference is that in the 1st case (ZOS economy) it is basically "producing gold" (rewards from quests, etc). The 2nd case (Guild Trader economy) is more like a "transferring gold" between accounts. it does not "create" new gold.

Both have advantages and disadvantages.

The 1st economy for example can be done totally independent and can not affect the 2nd economy if you don't participate in it (you are not in the trading guild etc). The main drawback is that it takes more time, but if you will be doing for example daily crafting on just one character, over time it will get you steady income.

The 2nd economy has a potential to make you rich way, way faster, but has a "destructive" effect on the global economy. Basically it is "creating inflation" overtime as guilds become richer & richer to the point in which "bidding" (securing trading spots) becomes so big money sink that it causes stuff to get hipper expensive. So less & less players can afford stuff, less & less players decide to even buy stuff from guild traders, less money is being transferred between accounts, so if less players are buying, meaning that the ones who do will have to pay more etc. Basically it is a "snow ball" effect.