Mercantile Training
Quest Information
Starting Location: Chorrol or Leyawiin
Starting NPC: Seed-Neeus or Margarte
Possible Reward(s): Mercantile Master Training

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When your Mercantile skill is less than 40, you can receive training from the following NPCs:
  • Mach-Na (Cheydinhal)
  • Foroch (Gottshaw Inn)
When your Mercantile skill is between 40 and 70, you must seek further training from the following NPCs:
  • Seed-Neeus (Chorrol)
  • Margarte (Leyawiin)
Once you've learned everything you can from the second tier trainers, speak with either of them about "Training" to learn that a master trainer exists that can teach you the most advanced techniques the skill has to offer. You're told that the woman considered to be the "best in the business" is Palonirya, and you'll find her running her "very successful shop" in the Imperial City Market District.

Palonirya's shop is the clothing store Divine Elegance on the western side of the Market District. Once you've tracked her down, inquire about training and she will tell you that business sense is something that comes naturally. In order to prove that you have business know-how, she asks that you acquire a considerable amount of starting capital. If you can come up with "at least ten thousand in liquid assets", she'll train you on how to use it.

10,000 Gold is a lot of money at lower levels, but you'll find that it's relatively easy to acquire that much later in the game. Between the rewards from higher level quests and the amount of coin you receive from selling higher-end loot, it probably won't be all that difficult for you to come up with that much coin by the time you need master training in Mercantile. Once you have the required amount, return to Palonirya and she'll recognize you as a skilled trader and, therefore, worth her time.