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Monday, 15 April 2019

Wealth of 6.0bn isk

My wealth rose to 6.0bn isk after just over 1 month of playing.

Almost all of that is invested on the market in Dodixie - if it all sold now it would generate 7.4bn isk.  But i am a cautious man so i estimate that maybe i will take a 20% haircut before they are all sold (if i am honest, that rarely happens).


Strategy . . . . unchanged

Of course, i will say this until i am blue in the face but my strategy remains unchanged: I buy from Sell Orders in Jita and put these items up as Sell Orders in Dodixie.  I focus on selling low volume items - so there is much less competition and the profit margins are therefore much higher.  If an item sells once every three days then i tend to find the profits are much greater and the competition much less.


Courier Contracts the transport method of choice

I no longer undock - all my items are couriered from Jita to Dodixie.  Today was a record where i contracted for 1.8bn isk of items to be couriered.  So far, i am sticking to public contracts and for the above 1.8bn courier contract i offered 15m isk and it was delivered within 2 hours.  Getting the items from Jita to Dodixie with speed is the key here.  Nothing sells until it is posted on the market.

When i look at the contracts on the public market i always find that i am offering the most attractive rates.  The cargo space required to transport my items is often less than 10m3 so any half decent pilot in a fast ship taking suitable precautions / kitted out can make an easy few million from me.  That is all fine with me.


Headwinds to wealth generation

The main constraint to increasing my wealth is the amount if ISK i have to invest.

Right now, i have 35 orders on raging from old items i put up in the first week waiting to sell for 2m isk to new items i am waiting to sell for 780m isk, the average value if the items for sale is 250m isk.

I focus mainly on blueprints, implants and boosters for now.  These are small (low cargo space), high value items that can be slow sellers and so have low competition.


Skills trained

I have not changed the skills on my selling character in Dodixie:

Broker Relations 3 = i pay 2.68% broker fee to post a sell order
Accounting 3 = i pay 1.4% sales tax when an item is sold
Trade 5 + Retail 5 = i can post 65 Sell + Buy orders
Marketing 2 = i have no idea why i trained this . . . . 
Contracting 4  = meant i could train Corporation Contracting
Corporation Contracting 2 = i can set up to 30 contracts on behalf of my Corporation.  It is the Corporation that sets up the Courier contracts and holds all my isk . . . . . i do this to reduce the number of key presses and logging on/off needed



Jita alt skilling my to Manufacture

This alt a few hours from being able to start to Manufacture the items i want.  But given all my isk is being tied up on the market then that is fine with me.

I will need to spend isk on blueprints and materials to get this going.

I am hoping to do a few trial runs over Easter to see how it goes.

Stay tuned.


Plex the account?

That is an aim for this month - to plex this account and therefore perhaps start another account to pay for.  That does not come cheap though at 2bn isk.  A far cry from the 500m isk when i first did this 5 years ago!



. . . . . you want to hear something sad?  I was updating orders at 37000 feet when flying on business two Saturday nights ago!


Current wealth is 6.0bn ISK made up from:
  • items for sale 7.4bn ISK
  • less a 20% provision 1.5bn ISK*
  • items in storage for sale 0.0 ISK
  • ISK in wallet 0.1bn 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.

1 comment:

  1. With your Jita alt planning to manufacture, will it be items that still are very low in m3 for transport, or will the schema change?

    ReplyDelete