conversion

I was talking to someone and we were a bit confused on how conversion works

the guide says:

The order of events for Conversion is as follows: Base Skill > Skill Modifiers > Conversion on the Skill or Transmuter > Conversion on Equipment and Buffs > Equipment, Auras and Passives

what is the difference between conversion on equipment and buffs and equipment, auras and passives?
shouldn’t that just say auras and passives?
because the conversion on equipment should already be dealt with by then right?

also another confusing thing

say I have one ring which converts 100% pierce damage to fire
and another one which converts 100% pierce damage to cold

in what order will they convert and for how much?

Conversion occurs simultaneously, you get both amounts but since it exceeds 100% it is reduced to 100%.

so you get 100% coldfire damage?

Yes, now that I’m not on my phone I can link you properly:
http://www.grimdawn.com/forums/showthread.php?t=52486

“Speaking of stacking, how does that work?”
Conversions stack additively and are then weighted to fit a 100% scale. This means that if you exceed 100% conversion, excess conversion just changes the ratio of conversion. Example: if you have 100% physical to elemental and 50% physical to chaos, the system will weight it down to 67% physical to elemental and 33% physical to chaos to fit the 100 point scale.

thanks, that has all the information I need