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Monday, 17 June 2013

3bn wealth reached

My current strategy of buying in Jita and Amarr, to sell in Dodixie has seen my wealthy reach the 3bn ISK milestone.

I am currently using 76 of my 125 active order slots hence i can’t see myself getting to the full 125 unless i start placing buy orders.  However, at this point in time i am reinvesting all my ISK into buying items from Jita / Amarr to sell in Dodixie and so i will not be placing any buy orders in the near term.

I am still buying and selling some of the blueprints  i started with on day 1.  They are a steady source of income.  Not much but it is nice ISK.  But the vast majority of my sales now come from implants and ship fittings.  I have expanded into further implants to sell that cost of 100m ISK to buy.  They are very slow moving but hopefully therefore less competitive.

In all, my spreadsheet of items potentially to sell is now  up to 94 though there are several items that are no longer profitable.

So far this month i have set up 23 courier contracts with PushX Industries and paid 196m ISK to PushX Industries for hauling.  I am increasingly using “Rush Jobs” for my contracts from Jita given i am now contracting to haul over 400m ISK at a time.  Assuming i stick to my 20% profit margin then the 20m ISK fee for a “Rush Job” only takes 4% off my profits but i can post them for sale within a few hours of buying them rather than waiting 12 to 24 hours for the contract to be completed.  I suspect this larger haulage payment is making me much more ISK with my faster posting for sale.

I am training Wholesale 5 which will give me 16 additional order slots but more importantly allow me to start on Tycoon which gives me 32 additional order slots a level.

At my current rate i am making 100m ISK per day profit and this rate is still rising.  I would like to think i would be able to make 3bn ISK this month but given i will be away in the final week i suspect this will not be achieved – though to be fair, i made 1.5bn in the first half of the month despite being away for 8 days of it, so the 3bn ISK in this month may be achievable.


Current wealth is  3,276,304,088 ISK made up from:
  • Items for sale 3,977,473,779 ISK
  • less a 20% provision 795,494,756 ISK*
  • Items in storage for sale 41,700,000 ISK
  • Items in transit 0 ISK
  • ISK in wallet 52,625,065 ISK


I don't count assets I use in the course of my business such as ships, fittings etc nor do I add back any expenses such as skills purchased etc.  The wealth I disclose is made up of items that are ISK or are in the process of being converted to ISK.

* I take a 20% provision against the items I am selling.  Eve calculates wealth by adding up the value of the sell orders hence it is possible to increase your wealth by buying an item for 100m ISK and putting a sell order for 120m ISK (in this case your wealth would increase by 20m ISK).  For me, I want my wealth to be calculated at cost until i finally hold it as ISK.  I know that the value of my sell orders will likely fall over time as I update my orders downwards as competition reduces their prices before my items are sold.  Hence the 20% provision is my best guess as to what the maximum reduction I would need to make to my sell orders as a whole before they are sold.

2 comments:

  1. Very interesting, I have been following a similar model and been at it for two weeks and find my worth to be around 500m ISK using your less 20% model. I'm starting to struggle with what to buy/sell, do buy orders or not or venture into new markets. I'm seeing a lot of .01 folks which are hurting product movement. How are you dealing with these issues?

    ReplyDelete
    Replies
    1. there will always be the 0.01 folks. I tend to update my orders once per day and leave it at that. at the moment I am selling 20% of what I have on offer.

      I to am having to do more research to find items to sell as more ISK piles up. my strategy is to look for items costing more (i.e. 100m ISK, or 200m ISK).

      I don't like to stack of up lines of items (i.e. buy 10 of an item to sell just to use up my ISK) - posting a stack of items to sell merely infuriates the other sellers who start aggressively undercutting to clear their products.

      I am not yet ready to start placing buy orders given I can still use my ISK to find items to buy at Jita / Amarr to sell in Dodixie

      Delete

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