I am in the first city - and have an abundance of items in my character's backpack. But I don't know what to save and what to sell. Is there some sort of stash in this game for things I want to save but not to carry? If I sell something, can I buy it back? Is there a penalty for that (i.e. sell for gold, but buy back for more gold)?
Literally every container in the game can be your stash. Put whatever you want in a barrel and it'll stay there. Find a chest you like and drag it back to town and it'll stay there. That being said, once you do a bit more and unlock the homestead, there are places in there that you can store things I believe.
you can buy back things you have sold, but I do believe there is a markup.
