Wealth of 9.9bn isk

Wealth is now 9.9bn - see details below.  An increase of 2.0bn on last week.

About half the increase came during the week and half at the weekend.

I would hope to be over 10bn at the end of my first full month tomorrow.


Reminder of my aim

With 45 minutes of game time each day, a bit longer at weekends, i aim to run a business that makes good profits after buying enough plex to play the game for free.


Plex

i will plex my account in the second week of June.  Hence, i will adopt the strategy of buying 100 Plex each night for 5 nights during the penultimate week of the time period.

Therefore, on Saturday night i bought 100 plex, and again on Sunday and again today on Monday.

Therefore i now own 300 Plex and will buy another 100 on Tuesday and Wednesday to take me to the target 500.

Annoyingly that 2bn ISK will just sit there as Plex earning no return and then be cashed in for 30 days of game time.

I could cut it closer to the deadline but no need to take the risk, i feel.

Bottom line: my business costs need to cover the 2bn plex cost per month.


Second account

Because i will now plex one account, i am starting a second account.  He will sit in Amarr as a Seller once i my Dodixie character is filled up.  I may be starting him prematurely given there is no sign of my Dodixie character running out of runway to sell product.


Manufacturing alt

I had hoped that this alt would now be manufacturing away but all my isk is being used to meet the demands of my Dodixie alt.  Hence, my manufacturing alt in Jita (he currently buys the goods and sets up the courier contracts to transport them to Dodixie) is just training away to manufacture tier 2 items for now.

Once i start to slow down with sell ideas for my Dodixie alt then i will turn to ramping up the manufacturing.


Courier Contracts

I am now having over 1bn isk of items transported from Jita to Dodixie each night.

In many ways, i am the dream ticket for couriers: my cargo requirements are typically below 100m3; my route is all in High Sec; i pay about 1% of the collateral value.  Therefore, any pilot with a decent fast ship and suitable docking points merely needs to take the time out of the day to go from Jita to Dodixie and earn a cool 10-20m isk.


Dodixie alt

He is doing all the heavy lifting right now.

He is using 33 of his 65 selling slots to put up 10bn worth of sell orders, indicating an average sell order value of 300m isk.  In reality, the spread is from 115m isk to 1.3bn isk sell order value, though with a tail of some at 10m or so - see below.  All sell orders will earn me 20% profits before costs (i.e. if i bought something for 80m i need to sell it for 100m.  profit = 20m, therefore profit margin is 20/100 = 20%).

Right now, his skills means he pays a 2.68% Broker Fee and a 1.4% Sales Tax for each completed transaction.  Add in the 1% courier contract fee and his costs are 5.08%.

Hence, 20% margin get whittled down to 15% once these costs come out.

. . . . . . its like being part of the EU (oooh, did i just let some politics slip in there? . . . . . )

Looking at the items i sell: i am sticking to boosters, implants and blueprints; not so many blueprints these days; i am constantly rotating what i sell - in some weeks certain implants are very profitable and then the profits fall to zero so i focus on a different implant.

I still have some items that have been up for a few weeks now that are just not selling - typically they are on the market for 10m isk or so.  Hence, back last month when 10m meant something to me.  In a few weeks time i may delist them and sell them back off at cost in Jita just to clear up my order book.



Current wealth is 9.9bn ISK made up from:

• items for sale 10.1bn ISK
• less a 20% provision 2.0bn ISK*
• Plex held (300 Plex) 1.3bn ISK
• items in storage for sale 0.0 ISK
• ISK in wallet 0.5bn 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.  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.  In an ideal world I would value my sell orders at the value which I bought the items for.