The Economy in any Online Virtual World plays a big part in many aspects of every players day to day activities, whether it be Crafting, General Looted Items, Finding Rares, Buying Weapons and Armor and equipping yourself with Potions and Food ready for the adventures that await you that day. Whether Trading face to face with other places, setting up a Shop, Buying/Selling on the Auction House and even dealing with NPC Vendors, it all makes up how the economy evolves and how things get brought and sold between players.
To many players within MMO's, this aspect is a joyful experience and there's nothing better than finding out all of your item's have sold for a nice chunk of gold at the auction house. For others it's a business, with many specializing in selling a certain item type. Maybe your a Potions Master and like collecting the herbs needed to brew them? Then sell all your stock to other players to make a ton of gold back to buy your character other items you may need. Or maybe you just like to farm materials and sell them on, again to make money for yourself and your character in order for you to buy higher level armor in return.
Now, the obvious choice, and for all WoW players, the most known way of buying and selling anything is via an In Game Auction House. It's simple, quick and makes selling fun and easy. But unfortunately... There is no Auction House in Elder Scrolls Online. That's right, no auction house, no easy way to sell your hard earned goods right. So that means I can't sell anything right? Wrong! Due to the fact that Elder Scrolls Online has their MegaServer technology, the developers felt that they wanted to move away from an auction house style economy.
Just imagine how many transactions per second there would be going through the system 24/7 with every player in the game buying and selling within the same system. By the time you decided to buy an item, someone else could of snapped it up before you even had a chance.
Well, you can still sell your items to Vendors, but not for that much of a good price unless it's junk stuff. Otherwise it's good old fashioned face to face trade. Offering your goods in the open chat and hoping a buyer will come and meet you. But that's not all...
There's also Player Shops! Guild Shops to be precise, that's right, each Guild is capable of opening their own Shop, which is available to everyone else within the Guild. Each member will be able to put up for sale any of their items and price them to anything they wish. You can also buy any item in the shop as well.
Technically, yes. But Guilds in Elder Scrolls can be massive. Don't forget, you can be in up to 5 Guilds at a time. In the Beta test I participated in, I joined a Guild and in the Shop there was between 800 - 1000 items for sale at any one time. And this was only in Beta, so if you think long term, there could literally be 1000's of items for sale in each Guild. Multiply that by 5 Guilds you can participate in and that's whole lot of items up for sale!
I'm not sure whether outsiders will be able to purchase goods from a Guild Shop, it would be great if they could as then Guilds could specialize in a certain type of item that they sell. So one Guild could be full of potion masters, one of weapon-smiths and one that specialize in armory items. Players would then know exactly where to go to find the items they need, and even find a favorite shop that sells cheaper stuff than others. There's plenty of opportunity, we just have to wait and see where it leads us...