I know that I should probably sell 95% of the loot that drops, but I really don't want to sell something that could be important for later in the game.
What loot is related to side quests or the main story line?
I think this should have all the information you need. From that faq, these are the items that are suggested you not sell:
As I recall, the great serpentskin was the only thing that wasn't immediately obvious that I might not want to sell it. In any case, even if you do sell it you don't miss out on anything permanently.
I don't recall any loot being necessary for the main storyline other than the pinewood and sandalwood chops, but as I noted you can't sell those anyway.
When a recipe is complete and you buy the unlocked Bazaar Goods the quantity for the loot used in that recipe is set back to 0, even if you sold more than required.
If items you sell are used in multiple bazaar recipes, DO NOT buy the first item it unlocks until you unlock the other recipes with that sold item, else you will be 'wasting' more of that item for that other recipe unlock.
Commented
May 6, 2016 at 17:44