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Sunday, 9 June 2013

Wealth of 2bn ISK reached

Today i reached 2bn ISK of wealth.

Entirely through Regional Trading – that is buying from one region to sell in another.  I contract PushX Industries to haul my items to Dodixie – hence i never leave the station and play 30 minutes a day.  Perhaps 60 at weekends as I research more items to sell.

For me, i have been buying from Jita and more recently Amarr to sell in Dodixie.  The reason i buy from Jita is that it is the largest trading hub and its prices listed on Eve-Central are therefore likely to be more accurate and so helping me do my research.  My Main character can sit in Dodixie and check the potential sale prices for items i plan to buy in Jita.

For non-Eve players, Regional Trading strategies work because:
  • When items are bought they have to be picked up from the station they were placed for sale in
  • Prices can only be seem for the region a character is in, not for other regions
  • Many players will willingly pay more for the convenience of not making 15 jumps to pick an item up (1 jump = 1 minute of time)


I am still reinvesting all the ISK i make into new items to sell – hence i am not yet in a position to start a new account (which would need to self finance itself through Plex purchases).

I woke up today to 590m ISK to reinvest back in the markets.  The weekends (starting on a Thursday night) are good times for me.

It is getting harder to find high margins, slow moving and low competition items to sell.  So i have reduced my acceptable margin to 15% as long as the purchase price is over 100m ISK.

I would expect to start a new account perhaps in July – i am on a business trip in the last week of June which somewhat prevents starting a new account at that time if I want to get it off to a flying start.


Current wealth is  2,243,647,145 ISK made up from:
  • Items for sale 2,031,158,454 ISK
  • less a 20% provision 406,231,691 ISK*
  • items in storage for sale 20,200,000 ISK
  • items in transit 550,000,000 ISK
  • ISK in wallet 48,520,382 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. Do you buy from sell orders in jita and sell to buy orders in Dodixie, or do you set up those orders yourself in one of the stations/both of them?

    ReplyDelete
    Replies
    1. I buy from sell orders in Jita (and/or Amarr).

      I then set up sell orders in Dodixie.

      only occasionally have I come across the ability to make isk selling to buy orders in Dodixie - and even then not much isk.

      I have more luck finding cheap sell orders - sometimes real and sometimes mistakes where the seller was infact trying to post a buy order but obviously pressed the wrong button.

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