This'll be a work in progress style response. Everything I say is just based on spur or the moment/random thoughts, so don't consider it gospel or must change stuff. I'll continue posting as I have more thoughts. Bold text is my thoughts.
The game starts with everyone holding the same amount of gold, and when it all ends, the person with the most cash and the most valuable stocks is the winner. As for how the game operates, it has five phases each round.
I'm working off assumptions here, but I'd guess that guilds start with some number of adventurers and stuff? As presented, the game starts off in a totally neutral state, which is a bit dull and makes early choices somewhat weak. It might be worth considering starting the various guilds (and their stock) in random positions.
Order of Play:
1. Stock Phase
2. Acquisition Phase
3. Assignment Phase
4. Questing Phase
5. Bookkeeping Phase
1. Stock Phase
Players can purchase and sell stock at this time.
Guilds need to have 5 of their 15 stocks purchased in order to become operational.
Gonna need to be careful here. This sounds like it makes the game start very, very slowly, especially pending player counts.
An action consists of optionally selling shares, and then either buying a share or passing.
Multiple shares can be sold at the same time.
All shares are sold at their current price and then move down on the stock market a number of spaces equal to the number of shares sold. If the marker hits the bottom of the chart, it stops moving.
Only one share may be purchased at a time.
This makes coattail riding really, really easy.
The share is purchased at the value listed on the stock market.
A player cannot buy stock in a guild they sold stock for earlier in that Stock Phase.
As an action a player may pass.
The Stock Phase ends when all players have passed consecutively.
At the end of the Stock Phase, any Guild with all of its stock sold moves up one space on the Stock Market. If it is already at the top, it does not move.
I saw it increases at the bottom, but it really feels like guild stock decreases WAY faster than it increases. This seems to make some very nasty blowouts possible due to turn order, where you can reasonably tank a guild's value before another player has the chance to sell.
2. Acquisition Phase
This is the period of the game where players interact with the five factions in the Kingdom, gaining influence, adventurers, and quests.
The five factions are: The Crown, The Nobility, The Church, The Merchants, and The Academy.
Each of these factions will have a influence metre as well as three piles of cards to draw from.
The first deck is the Favour Deck.
A player will gain influence for grabbing a card from the Favour Deck.
Each card in the Favour Deck is a liability.
Cards in the Favour Deck can never be discarded from a player's hand for any reason. They must be played into a Guild.
Decks two and three are the Standard Deck and the Privilege Deck.
The Privilege Deck has better cards than the Standard Deck. Both decks are beneficial.
You must have the minimum amount of influence to draw from these decks, and then pay the appropriate price when drawing.
These cards may be discarded at will after their purchase. No refund will be given.
There is a hand size limit of five cards.
Actions will start with the start player and go to the left.
There are three valid actions: Purchasing Influence, Taking a Card, and Passing.
When purchasing influence, pick a faction and look at the value of the influence step one higher than where your marker presently is.
Pay that amount, and then move your marker up one step.
To draw a card, render payment for the card you wish to purchase, then draw the card.
You may not draw a card if there is no room for it in your hand.
A player may Pass.
Once a player passes, they may take no other actions this Acquisition Phase.
The first player to pass takes the start player token.
First player is really strong due to the Stock Phase. Like, devastatingly strong.
Once each player has passed, the Acquisition Phase ends.
It occurs to me that, with bad luck, it seems possible to go effectively bankrupt in this game. Needing to buy everything is kind of a problem. Favors seem very disadvantageous, since you have to lock up a hand space and still pay (via auctions) to actually use them. It feels circumstantially like the rich can get way richer and the poor can get way poorer in this game.
3. Assignment Phase
This is when players bid to get the Guilds to accept their adventurers and Quests.
Each Guild can accept two Adventurers and two Quests per turn.
This might actually making bidding too non-competitive. Two slots for each means you need a total of three cards really wanting to be placed. It probably also means the first slot is low competition unless someone really wants to place two cards of one type.
Starting from the start player, each player either places a card and a bid, or passes.
Any bid must be placed in an empty slot, or must have a more valuable bid than the card currently in the slot.
When placing the bid, you also need to place one of your sponsor markers to denote ownership.
The value of a bid is the total of influence and gold placed on the card, and all stock owned in that Guild.
When a card is outbid, it is returned to the its sponsor.
Players may pass freely in place of bidding.
Passing does not prevent further bidding.
The Phase ends when all players have consecutively passed.
When the Phase ends, all hired adventurers move from the bidding slots to the Guild roster.
If there is no room on the Guild Roster, the highest numbered Adventurer is Laid-Off.
Crippling guilds seems surprisingly easy. If someone has a good adventurer at a full guild, you bid absolute minimum and guarantee their removal. Similarly, bad adventurers are surprisingly hard to remove.
If there is still not enough room, repeat this process until there is enough room.
You mentioned this in chat, but this phase may last way too long due to the number of auctions. Bid slots may be a wise choice here, since they streamline the process a bit and force players to take risks based on what players MAY do.
4. Quest Phase
Each Guild will, in order, go on the quests they were given in the Assignment Phase.
In numerical order, from lowest to highest, the quests will resolve.
This has some crippling blowout potential due to the way adventurers are assigned.
The Quest with the highest influence bid will resolve first, followed by the other Quest.
If there is a tie in influence, Quests resolve from left to right.
Adventurers can only be assigned to one quest.
Adventurers will be assigned to Quests in the following method.
First, check the negative numbered Adventurers.
Assign the highest numbered negative Adventurer with a relevant trait.
Second, go through the positive Adventurers from lowest to highest.
When an Adventurer has a relevant trait, assign it to the Quest.
Continue this until either...
All of the requirements of the quest have been met, which constitutes a Pass.
Or, all of the Adventurers have been gone through, which constitutes a Fail.
In the case of a Pass the following occurs:
Stock Holders get reward gold for each share they possess.
Guild Stock appreciates on Market Chart according to reward marker.
Influence is given to the players who 'own' the Quest and the Adventurers who went on it.
As well, some quests will cause Retirement or Flight, both of which remove Adventurers.
In the case of a Fail the following occurs:
Guild Stock will depreciates one space left, with possible extras depending on the Quest.
Some Quests will cause Laid-Off or Flight Status upon failure.
Additionally, all positive numbered Adventurers feel bad for failing.
Negative numbered Adventurers are incapable of feeling shame.
When all Guilds are done Questing the phase ends.
This seems really, really fiddly. I'd need to see it in more detail though.
5. Bookkeeping Phase
This Phase is simply checking to see if the game end conditions have been met.
If three of the draw piles are empty, then the game ends.
Departure of an Adventurer
When one of these in caused by a Quest Result, only Adventurers on the Quest are considered.
Only positive numbered Adventurers are considered for these three effects.
There are three ways for an Adventurer to leave a Guild: Retirement, Laid Off, and Flight.
Flight is the worst way for an Adventurer to Leave, and represents the powers that be hunting them.
Usually only the result of a Quest Failure.
Can also result from Favour Quest success.
On a favour success, this will effect the highest numbered Adventurer.
On a failure (any kind), this will effect the lowest number Adventurer.
Laid Off is the neutral way for an Adventurer to leave a Guild.
Usually the result of too many Adventurers being hired.
The Sponsor gains a Guild Influence when an Adventurer is Laid Off.
If it's the result of a Quest result, then the highest number Adventurer is Laid Off.
Retirement is the best way for an Adventurer to leave, indicating they made it rich.
Almost always Retirement is caused by success.
The lowest numbered Adventurer retires.
Upon retirement, the following happens:
The Guild moves left one space on the Market Chart.
The Sponsor gains Guild Influence.
The Sponsor gains Faction Influence from the Faction the Adventurer came from.
The Sponsor gains gold equal to a share reward from the quest that caused retirement.
Negative Adventurers have their own special Retirement Rule.
They can Retire regardless of whether or not there is a Retirement Reward.
They can only Retire if there are three negative Adventurers (including them) in their Guild.
If that is true, then participating in a successful Quest will automatically retire the negative Adventurer.
The Sponsor gets nothing from this retirement.
End Game Scoring
When the game ends, each play adds up the gold they have and the market value of all of their stock.
Richest person wins.
If there is a tie, most value of Influence wins.
If there is still a tie, most Royal Influence, followed by most Tier 2 Influence, followed by Most Tier 1 Influence.
If there is still a tie, most sponsored Adventurers active at endgame wins.
If there is still a tie, then the game is tied. Congratulations to all involved.