Month end update - October 2024

I made 129bn profits in October 2024, from which i utilised 27bn of my skill farm (more of that below) and distributed 5bn to sponsor an Eve show (more on that another time).  Therefore, my wealth rose by 97bn to 1.818 trillion isk.

Another good month, on some measures my best ever in part because of the skill farming.  On other measures my second best if i exclude my skill farming given it is still paying for itself.  Either way, a good month.

Distributions

These days, the aim is to distribute my profits to the Oz Tank Show or other ventures.

So far i have given 260bn isk to the Oz Tank Show and 40bn to The Oz Show.

The Oz Tank Show started in July 2023 and i have generated profits of 999bn in the July 2023 - October 2024 period and distributed 306bn.

So that leaves 694bn isk to distribute to some venture(s).

So far, sponsoring an Eve Show for 5bn is about as far as i have got . . . . . 

Six Omega Accounts to pay for / Skill Farming

In June i went for the MCT / Omega deal and have now pre-funded 6 accounts (so the 4 omega accounts and 2 alpha accounts) for 12 months.

This also took me into Skill Farming for the first time.

I spent 130bn isk on all that - and so how to account for this?

Accounting for the MCT / Omega Deal

The question therefore is how to account for the 130bn isk spent on the MCT deal.

The 130bn bought me a 12 month Omega for 6 of my accounts and 12 months of MCT for 2 characters per Account.

As i skill farm i will generate revenues.

The way i have decided to account for this is to:

I will hold the 130bn on by Balance Sheet and as i sell the Skill Points into the market will will reduce the 130bn by the profits made.  This will mean i will not earn any profits from my Skill Farming until the 130bn asset is exhausted.

Hence, in August i made 17bn profits on my Skill Farms and so the 130bn asset reduced to 113bn and then in September i made 20bn profits from Skill Farms and so the asset was reduced further to 93.3bn and then in October i made 26bn profits from Skill Farms and so the asset is now 66bn.

I expect it will take 4 more months to reduce this asset to nil by which time the profits made on the Skill Farming will then be taken as pure profit.

So, thinking this through by the end of February i should have recouped the investment leaving 4 more months of pure profit from Skill Farming, and of course, the 12 months of Omega all paid for each of the 6 accounts.

This was a brilliant deal.

The basic numbers for October

In October i had sales of 352bn isk vs September of 369bn.  So a fall of 5%.

So now back above the long running average 330bn isk again though helped by Skill Farms.

This comes to average daily sales of 11.4bn isk.  In other words, each evening i expect to see across all my accounts an additional 11bn isk sitting on the characters to be reinvested back into the markets.

Item profits were 168bn isk which is a margin of 48% (168/352).  So back above the 25% target.  There will be an upwards distortion from Skill Farming in here which one day i may attempt to reverse.  That said, this 48% does look high and suggests some data issues - may be or may be not, if there are problems these will be reversed in November.  Lets see.

Taxes and Courier fees came to 40bn isk.  That takes the Trading Profits to 129bn isk and so a trading margin of 26.6% (129/352).  Again, way above the 16% target.

Then we have 26bn Skill Farming Asset amortised to take me to 102bn profits from which i distributed 5bn isk to sponsor a show and therefore giving a 97bn isk increase in wealth for October.

What is needed to get wealth to rise to 100bn in a month?

In some ways, i am there now.

This still remains my target and i am hoping the Skill Farming will really help in 4 months time.  Technically, i achieved this in September and October.  Lets see how November goes.

Lets assume i only get the 25% item profit margin that i target . . . . 

To get 100bn isk of an increase in wealth before distributions i would need to make daily sales of 18bn isk.

I am pretty sure i wont get there sustainably on the current strategy (pre skill farms) so i am putting my mind to how else to earning isk.  Skill Farming is one idea.  May need more.

My Sales Strategy

I am putting more effort into designing spreadsheets using the Eve Excel Addin to both make my online time more efficient and find those items to sell in the Regions quicker.

For me, the market was better in September and October, back to levels i saw earlier in the year.

My strategy is to Buy from Sell Orders in Jita to sell in the trading hubs in other Regions.

I don't sell consumable items such as ammunition given they tend to be high volume and very competitive.  That includes ships.

I rarely sell items used as components in manufacturing because the end buyer tends to be cost conscious (and armed with spreadsheets) and able to manufacture the items themselves if market prices are too high.

I sell items that are in low supply and sell very slowly.  These items tend to have very low competition - sellers want to get cash quickly and so don't bother in these items.  If i put an item on the market and it sells in 15 days that is fine with me.

These items also tend to be price insensitive - players will buy the item almost whatever the price.  The Buyer is much more interested in getting the item to use now rather than setting off to Jita to get it cheaper.

I sell items that are typically bought to kit a ship as a player progresses or has to replace a destroyed ship / pod.

Each month i sell 20-30% of what i had to sell at the start of the month.

I have a rule that the minimum profits have to be 100m isk.  It is no use me buying items for 5m to sell them for 15m.  The profitability may be great but that won't move the dials.  That said, it is surprising how many items i can buy for 120m from Jita Sell Orders and sell for 220m in the other trading hubs.  At that isk level, players re-equipping don't care about spending an additional 100m isk to save time.

And in the secondary trading hubs Amarr / Dodixie / Rens / Hek buyers will not travel even one jump to buy a cheaper item.

Therefore, i mostly sell Implants, Blueprints, ship equipment and some structure modules.  And more recently Large Skill Injectors.

What is selling well in October

Blueprints: continue to be a steady source of revenues; similar to what i have seen since August, i am seeing Buyers buy out whole groups of blueprints.  Given Blueprints i buy at base cost - so i source Blueprints from the source NPC stations and have then couriered to the Selling location - and therefore the item profit margin starts at 25% and perhaps ends a bit lower by the time the Blueprint is sold.

Implants: varied and has been like this for a while.  I am seeing more competition coming in.  My experience with Implants is that they sell by the family - i.e. the alpha / beta / delta / epsilon / gamma / omega implant all sell to the same buyer at once.  So they can be good earners when they occur.  But, i would say that my implant sales are getting lower over time.

Mining equipment: very low these days; competitors are all over this.

Ship Equipment: doing better over a right old range of items - afterburners, armour repairs, shield repairs, weapons are the main staples.

I sold one or two towers this month.

Manufacturing

I do this opportunistically and i don't keep track of it.  I don't (yet) do it systematically but i need to get a grip.  I am sure there are many items i sell in the Trade Hubs that i could manufacture in Jita and so get a better in price vs buying them from Jita Sell Orders.

But so far i manufacture items that sell for over 1bn isk.  My favourite items are where the Blueprint Original costs >10bn and there are no Copies in the Contract Market.  Sort of makes me feel i have the market to myself.

Planetary Interaction

For now, i have stopped trying to make this work.

Research

For now, i have stopped trying to make this work.

Station Trading

All in Jita.  And i am not focusing on this for now, so only 9bn sales.

Real life puts this on the back burner.

My idea of station trading is not buying items when they look cheap.  For me, station trading is about sticking to the slow moving items and quite often i am the only person in Jita trying to sell an item.  Almost always Selling for over 1bn isk.

What i don't do is Investing.  I.e. i don't buy an item now i think is cheap and hold onto it to sell it a few months later when the price has risen.

Alpha Accounts

I upgraded 2 of these accounts to Omega as part of the MCT deal.  So training them all hard to get to the 5m skill points to start the skill farm.

That leaves 1 Alpha account with a character in Venal left.  I also added another character to that account and am training it up to 5m skill points.  The idea here is to get another set of Alpha Accounts ready for Skill Farming sometime in the future if needed.

Plex

At the start of September i bought 8000 Plex at around 5.3m each.  The main reason for doing this is to have a store of plex ready in case of any deals on the NEX store that comes along.

The holding of Plex has made a small profit of around 3bn but this is not the reason for holding the Plex - it is purely there as a ready source for any deals that come along.

Items in hanger for sale

There are a number of items that i sell that can only be sourced from Regions outside of The Forge (the home of Jita).

I used to have these items couriered directly to the trading location to sell but that has proved to be tedious over time.

Therefore, i now have the items couriered to Jita and stored.  When i a trade location needs one of these items to be sold i can then courier them from Jita - a much easier process to handle.

In effect this means i am couriering these items twice - once to Jita and once to the trade location.  Therefore, i add the additional courier cost to the Sale's price.

What it means is that items in Hangers used to be 20bn but is now 182bn (this also now includes Skill Extractors and Large Skill Injectors).

Buy Orders

Buy Orders have varied over time but are now back on the rise as i start placing Buy Orders for Skill Extractors.

Once i get a grip, Buy Orders will also increase as i ramp up the Station Trading in Jita.

ISK

For the last 6 months the average ISK in wallets has been over 100bn compared to around 50bn before this.

The reason for his is purely real life being busy and so not having the time to make sure everything is invested.

2 trillion wealth

Not there yet and it is not an aim - i want to give my isk away.

But, worth noting that my wealth is 1.818 trillion and i have given away 306bn - so i would be at 2 trillion by now.

Also, worth noting that my wealth being 1.818 trillion and if i added back the provision of 327bn that i take away then by wealth would be 2.1 trillion.

Current Wealth

Current wealth is 1.818 trillion ISK made up from:

• Plex held as an investment 46bn ISK
• Items in hanger for sale 183bn ISK
• Items in hanger for use in business 11bn ISK
• Omega brought forward 66bn ISK
• Buy orders on the market 80bn ISK
• items for sale 1.63 trillion ISK

• less a 20% provision 327bn ISK*

• ISK in wallet 125bn ISK

When i add up my wealth, 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 or are used to generate isk that can be readily resold back onto the market.  Any ships or skills or fittings etc i buy are counted as expenses in that month.  The only exception to this rule is Blueprint Originals i use for manufacturing.  They are held at cost.

* 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.

Month end update - September 2024

I made 105bn profits in September  2024, from which i utilised 20bn of my skill farm (more of that below).  Therefore, my wealth rose by 85bn to 1.721 trillion isk.

Better month than i though given the last part i was on holiday and real life remains busy.

Distributions

These days, the aim is to distribute my profits to the Oz Tank Show or other ventures.

Watching numbers go up once i got to a trillion wealth is somewhat boring.  Hence, my wealth will barely increase and any monthly surplus will all be given away at some point.

So far i have given 260bn isk to the Oz Tank Show and 40bn to The Oz Show.

The OZ Tank Show started in July 2023 and i have generated profits of 897bn in the July 2023 - September 2024 period and distributed 301bn.

So that leaves 596bn isk to distribute to some venture(s).

Six Omega Accounts to pay for / Skill Farming

In June i went for the MCT / Omega deal and have now pre-funded 6 accounts (so the 4 omega accounts and 2 alpha accounts) for 12 months.

This also took me into Skill Farming for the first time.

I spent 130bn isk on all that - and so how to account for this?

Accounting for the MCT / Omega Deal

The question therefore is how to account for the 130bn isk spent on the MCT deal.

The 130bn bought me a 12 month Omega for 6 of my accounts and 12 months of MCT for 2 characters per Account.

As i skill farm i will generate revenues.

The way i have decided to account for this is to:

I will hold the 130bn on by Balance Sheet and as i sell the Skill Points into the market will will reduce the 130bn by the profits made.  This will mean i will not earn any profits from my Skill Farming until the 130bn asset is exhausted.

Hence, in August i made 17bn profits on my Skill Farms and so the 130bn asset reduced to 113bn and then in September i made 20bn profits from Skill Farms and so the asset was reduced further to 93.3bn.

I expect it will take 5 more months to reduce this asset to nil by which time the profits made on the Skill Farming will then be taken as pure profit.

So, thinking this through by the end of February i should have recouped the investment leaving 4 more months of pure profit from Skill Farming, and of course, the 12 months of Omega all paid for each of the 6 accounts.

This was a brilliant deal.

The basic numbers for September

In September i had sales of 369bn isk vs August of 284bn.  So a rise of 30%.

So now back above the long running average 330bn isk.

This comes to average daily sales of 12.3bn isk.  In other words, each evening i expect to see across all my accounts an additional 12bn isk sitting on the characters to be reinvested back into the markets.

Item profits were 132bn isk which is a margin of 36% (132/369).  So back above the 25% target.  There will be an upwards distortion from Skill Farming in here which one day i may attempt to reverse.

Taxes and Courier fees came to 27bn isk.  That takes the Trading Profits to 105bn isk and so a trading margin of 28.5% (105/369).  Again, way above the 16% target.

Then we have 20bn Skill Farming Asset amortised to take me to 85bn increase in wealth for September.

What is needed to get wealth to rise to 100bn in a month?

This still remains my target and i am hoping the Skill Farming will really help in 5 months time.  Technically, i achieved this in September.  Lets see how October goes.

Lets assume i only get the 25% item profit margin that i target . . . . 

To get 100bn isk of an increase in wealth before distributions i would need to make daily sales of 18bn isk.

I am pretty sure i wont get there sustainably on the current strategy so i am putting my mind to how else to earning isk.  Skill Farming is one idea.  May need more.

My Sales Strategy

For me, the market was better in September, back to levels i saw earlier in the year.

My strategy is to Buy from Sell Orders in Jita to sell in the trading hubs in other Regions.

I don't sell consumable items such as ammunition given they tend to be high volume and very competitive.  That includes ships.

I rarely sell items used as components in manufacturing because the end buyer tends to be cost conscious (and armed with spreadsheets) and able to manufacture the items themselves if market prices are too high.

I sell items that are in low supply and sell very slowly.  These items tend to have very low competition - sellers want to get cash quickly and so don't bother in these items.  If i put an item on the market and it sells in 15 days that is fine with me.

I sell items that are typically bought to kit a ship as a player progresses or has to replace a destroyed ship / pod.

Each month i sell 20-30% of what i had to sell at the start of the month.

I have a rule that the minimum profits have to be 100m isk.  It is no use me buying items for 5m to sell them for 15m.  The profitability may be great but that won't move the dials.  That said, it is surprising how many items i can buy for 120m from Jita Sell Orders and sell for 220m in the other trading hubs.  At that isk level, players re-equipping don't care about spending an additional 100m isk to save time.

And in the secondary trading hubs Amarr / Dodixie / Rens / Hek buyers will not travel even one jump to buy a cheaper item.

Therefore, i mostly sell Implants, Blueprints, ship equipment and some structure modules.  And more recently Large Skill Injectors.

What is selling well in September

Again, I saw a decent pickup in Blueprints.  And similar to August i am not seeing Blueprints selling in ones and twos but i am seeing buyers turn up and buy whole groups out.  Not sure why but i don't ask questions.  I would think this indicates more players entering Industry but i am not sure.  I tend to make the target margin of 25% on Blueprints - they are all bought from set prices from NPCs and so all sold at prices to ensure the 25% margins.

Implants were better though they have become more competitive so i have lost market share.  But i am starting to re-enter the market and take on the new competitors.  My experience with Implants is that they sell by the family - i.e. the alpha / beta / delta / epsilon / gamma / omega implant all sell to the same buyer at once.  So they can be good earners when they occur.

Mining equipment used to be a big earner but other competitors are all over this now so for me it is a low sales item.

Ship Equipment did ok.  Likely did better in September but nothing jumps out.  I can't say i pay too much attention as to what really sells - i need to set up a spreadsheet 

I have not sold any structures for a while - so no stations and towers.

Manufacturing

I do this opportunistically and i don't keep track of it.  I don't (yet) do it systematically but i need to get a grip.  I am sure there are many items i sell in the Trade Hubs that i could manufacture in Jita and so get a better in price vs buying them from Jita Sell Orders.

But so far i manufacture items that sell for over 1bn isk.  My favourite items are where the Blueprint Original costs >10bn and there are no Copies in the Contract Market.  Sort of makes me feel i have the market to myself.

Planetary Interaction

For now, i have stopped trying to make this work.

Research

For now, i have stopped trying to make this work.

Station Trading

All in Jita.  And i am not focusing on this for now, so only 24bn sales.

Real life puts this on the back burner.

My idea of station trading is not buying items when they look cheap.  For me, station trading is about sticking to the slow moving items and quite often i am the only person in Jita trying to sell an item.  Almost always Selling for over 1bn isk.

What i don't do is Investing.  I.e. i don't buy an item now i think is cheap and hold onto it to sell it a few months later when the price has risen.

Alpha Accounts

I upgraded 2 of these accounts to Omega as part of the MCT deal.  So training them all hard to get to the 5m skill points to start the skill farm.

That leaves 1 Alpha account with a character in Venal left.  I also added another character to that account and am training it up to 5m skill points.  The idea here is to get another set of Alpha Accounts ready for Skill Farming sometime in the future if needed.

Plex

At the start of September i bought 8000 Plex at around 5.3m each.  The main reason for doing this is to have a store of plex ready in case of any deals on the NEX store that comes along.

The holding of Plex has made a small profit of around 3bn but this is not the reason for holding the Plex - it is purely there as a ready source for any deals that come along.

Items in hanger for sale

There are a number of items that i sell that can only be sourced from Regions outside of The Forge (the home of Jita).

I used to have these items couriered directly to the trading location to sell but that has proved to be tedious over time.

Therefore, i now have the items couriered to Jita and stored.  When i a trade location needs one of these items to be sold i can then courier them from Jita - a much easier process to handle.

In effect this means i am couriering these items twice - once to Jita and once to the trade location.  Therefore, i add the additional courier cost to the Sale's price.

What it means is that items in Hangers used to be 20bn but is now 200bn (this also now includes Skill Extractors and Large Skill Injectors).

Buy Orders

Buy Orders have varied over time but are now back on the rise as i start placing Buy Orders for Skill Extractors.

Once i get a grip, Buy Orders will also increase as i ramp up the Station Trading in Jita.

ISK

For the last 6 months the average ISK in wallets has been over 100bn compared to around 50bn before this.

The reason for his is purely real life being busy and so not having the time to make sure everything is invested.

2 trillion wealth

Not there yet and it is not an aim - i want to give my isk away.

But, worth noting that my wealth is 1.721 trillion and i have given away 301bn - so i would be at 2 trillion by now.

Also, worth noting that my wealth being 1.721 trillion and if i added back the provision of 295bn that i take away then by wealth would be 2 trillion.

Current Wealth

Current wealth is 1.721 trillion ISK made up from:

• Plex held as an investment 46bn ISK
• Items in hanger for sale 204bn ISK
• Items in hanger for use in business 11bn ISK
• Omega brought forward 93bn ISK
• Buy orders on the market 54bn ISK
• items for sale 1.48 trillion ISK

• less a 20% provision 295bn ISK*

• ISK in wallet 132bn ISK

When i add up my wealth, 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 or are used to generate isk that can be readily resold back onto the market.  Any ships or skills or fittings etc i buy are counted as expenses in that month.  The only exception to this rule is Blueprint Originals i use for manufacturing.  They are held at cost.

* 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.

Eve Excel Add In - a run through of my sheet to calculate my wealth, Part 2

This is the second part on my series looking at the spreadsheets which use the Eve Online Excel Add-in to calculate my net wealth.

This sheet focuses on the assets i hold in hangers and is quite annoying in that i have not yet managed to work out how i can do this in one line per character.

i.e. in the prior sheet for each character it only takes one line to calculate the total Sell Orders for example.

For the assets in hangers i need to list them all out and then make sure i am not counting Blue Print Copies.

The basics of the Spreadsheet is that for each character i list out all the assets in the hangers and then value them off Jita prices.  This will also capture all Blueprint Copies which i need to eliminate.  I then list all the Blueprints and if they are a copy i add them all up and take them away from the first list.  All will be clear on the spreadsheet below.

I also do something similar for the Corporate which captures everything in Corporate Hangers.  I.e. items delivered from courier contracts.

Lets go through the first character:

Cell D4 picks up the character ID from the list i input in column D.  See the prior post in where to get the character IDs.  There are two ways.

Cells E4, F4 and G4 get the character name, system and Region:

=EVEONLINE.CHARACTER(D4),  =EVEONLINE.SOLARSYSTEM(MODE(EVEONLINE.CHARACTER_ASSETS(D4).final_location.solar_system_id)).solar_system_name,  =EVEONLINE.REGION(MODE(EVEONLINE.CHARACTER_ASSETS(D4).final_location.region_id)).name)

The real work starts in cell D9 with the formula =EVEONLINE.CHARACTER_ASSETS(D4)

This lists all the assets held in hangers for the character where D4 is the cell containing the character ID.  It will form a list.

Column E will then take each item in column D and get the quantity =D9.quantity

Column F will then get the minimum Sell Price in Jita for each item in Column D =EVEONLINE.MARKET_ORDERS_STATS(10000002,D9.type.id).sell.min

10000002 is the id for The Forge which is the Region where Jita is.

The way this formula works is to bring up all the type.id for each asset item, and then gets the enter market order book in The Forge for this item, and then at the end gets the Sell prices only and then only the minimum.

Column G then multiplies these Columns together to get the value of each asset and then this is all summed up in Cell G7.

But we must now eliminate the value of all Blueprint Copies (which are given the Blueprint Original price).

So, Column I lists all the Blueprints owned by the character =EVEONLINE.CHARACTER_BLUEPRINTS(D4)

Column J then shows how many runs are left for each Blueprint =I9.runs.  If the runs left are -1 then that is a Blueprint Original, otherwise it is a Copy.

Column K then lists the value of only the Copies which in this case instead of multiplying the columns together i just used a new formula =IFERROR(IF(J9<>-1,EVEONLINE.MARKET_ORDERS_STATS(10000002,I9.type.id).sell.min,0),0)

Cell K7 then sums all these Blueprint Copies.

And therefore the sum of all the assets owned is Cell G7 - Cell K7.

Finally, look carefully at how it is done for the Corporation Hangers in columns GB onwards.

Eve Excel Add In - a run through of my sheet to calculate my wealth

I have been using the excel Add-In since it came out to calculate my wealth.

The aim of the excel sheet is to avoid making lists of all the Sell Orders and Buy Orders i have but to try and get as much of it into a one line formula if possible.

Using the Add-In is much quicker than the old days and quite easy to use, though with a reasonably steep learning curve.

Knowledge of excel is a must.

The Spreadsheet

Below is my Excel Spreadsheet (as at the point in time i posted it) and I explain the formulas used.  It is the formulas that count and how they are put together more than anything else.

I will assume that everyone knows how to get the add-in up and running.  If not, a suitable explanation is given by Oz in a youtube video.

In the Sheet itself, every Add-In formula i use is written above the column it is used it.

Items in yellow is data you need to input yourself.

The way to update this sheet if you have it in excel is ctrl + shift + alt + F9

Going through the columns on the main part

Column B - Character ID:

Every character in Eve Online has its own ID.  There are two ways to find this out.

1) Look at your character (or Corporation) on Eve Who and in the URL is your character ID

2) use the formula <=EVEONLINE.ACTIVE_CHARACTER().id> which will list all the ID's of characters you have on the addin.

Either way, we need these character IDs to run the spreadsheet.

Column C - name:

This is an easy formula of <=EVEONLINE.CHARACTER(B9)> where B9 is the cell with a character ID in it.

This will give the name of the character.

<=EVEONLINE.CORPORATION(B14)> gives the name of the Corporation where B14 is the Corporation ID.

Column D - solar system:

Ignore for now, not important and there may be a simpler way.  I will deal with this at the bottom of the post.

Column E - region:

Ignore for now, not important and there may be a simpler way.  I will deal with this at the bottom of the post.

Column F - wallet:

For characters the formula is <=EVEONLINE.CHARACTER_WALLET_BALANCE(B9)> where B9 is the cell with a character ID in it.

For the corporation, you still have to link it to a character with access to the bank accounts (linking it to the corporation will not work).  Also for Corporations there are various parts of the wallet, so they all need to be added up.

So, this is where is gets interesting and we start to use the Excel functionality.

I could use a formula to list out all the balances in all the Corporation accounts which would be <CORPORATION_WALLETS(B9).balance>.  This would list out all the bank balances in the corporation.

But i want one number which is the sum of these hence, the formula is <=SUM(EVEONLINE.CORPORATION_WALLETS(B9).balance)> where B9 is the cell with the ID of a character with access to the Corporation bank accounts.

Note we now have the Excel function <SUM> come in which sums up the list that was produced before into one line.

Column G - Sell Orders:

This is where we really start to use the functionality of the Add-In.

The formula i use to get the sum of all the Sell Orders for a character is <=IFERROR(SUM(EVEONLINE.CHARACTER_ORDERS(B9).price * EVEONLINE.CHARACTER_ORDERS(B8).volume_remain) - SUM(EVEONLINE.CHARACTER_ORDERS(B9).price * EVEONLINE.CHARACTER_ORDERS(B9).is_buy_order * EVEONLINE.CHARACTER_ORDERS(B9).volume_remain),0)>

B8 is the cell with the character ID in it.

Lets break this down.

<=EVEONLINE.CHARACTER_ORDERS(B9)> will list all the Sell and Buy orders for a character including the price and quantity initially put on and what is left.  That is no use - we need to isolate the quantity left to sell, the price and whether it is a Buy or Sell order.

<EVEONLINE.CHARACTER_ORDERS(B9).price> will list the price that the Sell or Buy order is listed at

<EVEONLINE.CHARACTER_ORDERS(B9).volume_remain> will list all the remaining quantity to Sell or Buy.

And this is the beauty of the Add-In and Excel, the formula <=EVEONLINE.CHARACTER_ORDERS(B9).price * EVEONLINE.CHARACTER_ORDERS(B9).volume_remain> will list the value of all the Sell and Buy orders.  It will be a list that multiples the price of each order by the remaining quantity.

Therefore, i can use the Excel SUM function to get the total value of all the Sell and Orders on one line by doing <SUM(EVEONLINE.CHARACTER_ORDERS(B9).price * EVEONLINE.CHARACTER_ORDERS(B9).volume_remain)>

However, this is the combined value of the Sell and Buy Orders.

The Add-In only gives us the ability to isolate the Buy Orders and so i need to take this total value and take away the value of the Buy Orders.

the formula <EVEONLINE.CHARACTER_ORDERS(B9).is_buy_order> gives a True or False for each Order if it is a Buy or Sell Order.

Therefore, i can use the same formula as before but Add-In this bit to give me a list of all Buy Order Values <EVEONLINE.CHARACTER_ORDERS(B9).price * EVEONLINE.CHARACTER_ORDERS(B9).is_buy_order * EVEONLINE.CHARACTER_ORDERS(B9).volume_remain>

and as before i can use the Excel SUM function to get the total value on one line <SUM(EVEONLINE.CHARACTER_ORDERS(B9).price * EVEONLINE.CHARACTER_ORDERS(B9).is_buy_order * EVEONLINE.CHARACTER_ORDERS(B9).volume_remain)>

So, i only now need to take one SUM away from the other to get the total Sell Orders.

And add an IFERROR function at the beginning to give the answer "0" if there are not and Buy or Sell Orders.

Column H - Buy Orders:

<=IFERROR(SUM(EVEONLINE.CHARACTER_ORDERS(B9).price * EVEONLINE.CHARACTER_ORDERS(B9).is_buy_order * EVEONLINE.CHARACTER_ORDERS(B9).volume_remain),0)>

This is merely the SUM of the Buy Orders we used above.

The Add-In gives us the ability to isolate the Buy Orders by using the formula <EVEONLINE.CHARACTER_ORDERS(B9).is_buy_order> which gives a True or False for each Order if it is a Buy or Sell Order.

I also can list the price of each Buy Order <EVEONLINE.CHARACTER_ORDERS(B9).price>.

and i can list the quantity that remains to be bought <EVEONLINE.CHARACTER_ORDERS(B9).volume_remain>.

and so combining these altogether i can get a list of the Buy Orders value per Order <EVEONLINE.CHARACTER_ORDERS(B9).price * EVEONLINE.CHARACTER_ORDERS(B9).is_buy_order * EVEONLINE.CHARACTER_ORDERS(B9).volume_remain>

and as before i can use the Excel SUM function to get the total value on one line <SUM(EVEONLINE.CHARACTER_ORDERS(B9).price * EVEONLINE.CHARACTER_ORDERS(B9).is_buy_order * EVEONLINE.CHARACTER_ORDERS(B9).volume_remain)>

and then wrap it into an IFERROR function to default to 0 if there is an error.

Column I - Inventory:

This is taken from another workbook and will be in a following post.  So far i am unable to nail the value of the inventory held by each character in a one line formula.  Hence i use another workbook to do the calculations.

Column J - Provision vs Sell Orders:

this is merely me taking a 20% provision against each sell order to recognise i will need to pay Transaction Tax when the sale goes through + i may need to list it at a lower value to get it sold.

So nothing to do with the Add-In.

Column K - Contracts outstanding or in progress:

<=IFERROR(SUM(FILTER(EVEONLINE.CHARACTER_CONTRACTS(B9),(EVEONLINE.CHARACTER_CONTRACTS(B9).status="in_progress") + (EVEONLINE.CHARACTER_CONTRACTS(B9).status="outstanding")).collateral),0)>

where B9 is the character ID.

Lets break this down.

I can list all the contracts i have that are "outstanding" and "in progress" and " finished" using the formula <EVEONLINE.CHARACTER_CONTRACTS(B9)>.

But what i am interested in are only those "outstanding" or "in progress".

The Add-In allows me to show the status of each contact using ".status".  So <EVEONLINE.CHARACTER_CONTRACTS(B9).status> will list the status of each contract.

Therefore, i can use the Excel FILTER function to isolate only those that are "outstanding" or "in progress".  The FILTER function works a bit like COUNTIF.  <FILTER(list, condition)>.

I can use multiple conditions and in my case i was either "outstanding" or "in progress".  "+" is the equivalent of "OR".

Therefore, to list only these contracts that are "outstanding" or "in progress" i use the formula <FILTER(EVEONLINE.CHARACTER_CONTRACTS(B9),(EVEONLINE.CHARACTER_CONTRACTS(B9).status="in_progress") + (EVEONLINE.CHARACTER_CONTRACTS(B9).status="outstanding"))>

And then to get the contract value i use ".collateral" to make the formula <FILTER(EVEONLINE.CHARACTER_CONTRACTS(B9),(EVEONLINE.CHARACTER_CONTRACTS(B9).status="in_progress") + (EVEONLINE.CHARACTER_CONTRACTS(B9).status="outstanding")).collateral>.

And of course i want this on one line so i use the SUM function to add it all up <SUM(FILTER(EVEONLINE.CHARACTER_CONTRACTS(B9),(EVEONLINE.CHARACTER_CONTRACTS(B9).status="in_progress") + (EVEONLINE.CHARACTER_CONTRACTS(B9).status="outstanding")).collateral)>

And wrap it in an IFERROR function to return "0" if there is an error.

Column L - Items in Corporate Delivery Hangers:

This is taken from another workbook and will be in a following post

Column M - Plex:

The Add-In can't access the Plex Wallet - so i have to manually input the quanity.

But the Jita minimum Sell price is the formula <=EVEONLINE.MARKET_ORDERS_STATS(10000002,44992).sell.min>

where "10000002" is the ID of The Forge region and "44992" is the ID of Plex.

Column D and E - System Location and Region Location:

These columns list the System and Region each character is in.  There must be na easier way of doing this but for now i cant work it out.  So i have looked for the location for each character where most of their assets are and used that as the assumed location of the character.

so, for System: <=EVEONLINE.SOLARSYSTEM(MODE(EVEONLINE.CHARACTER_ASSETS(B9).final_location.solar_system_id)).solar_system_name>

where B9 is the cell with the character ID.

and for Region: <=EVEONLINE.REGION(MODE(EVEONLINE.CHARACTER_ASSETS(B9).final_location.region_id)).name>

where B9 is the cell with the character ID.

Month end update - August 2024

I made 81bn profits in August 2024, from which i spent 2bn on Omega (more of that below), utilised 17bn of my skill farm (more of that below) and distributed 40bn to The Oz Show for raffles.  Therefore, my wealth rose by 23bn to 1.636 trillion isk.

Better month than i though given the first part i was on holiday and real life remains busy.

Distributions

These days, the aim is to distribute my profits to the Oz Tank Show or other ventures.

Watching numbers go up once i got to a trillion wealth is somewhat boring.  Hence, my wealth will barely increase and any monthly surplus will all be given away at some point.

So far i have given 260bn isk to the Oz Tank Show and 40bn to The Oz Show.

The show started in July 2023 and i have generated profits of 812bn in the July - August period and distributed 301bn.

So that leaves 512bn isk to distribute to some venture(s).

Six Omega Accounts to pay for / Skill Farming

In June i went for the MCT / Omega deal and have now pre-funded 6 accounts (so the 4 omega accounts and 2 alpha accounts) for 12 months.

This also took me into Skill Farming for the first time.

I spent 130bn isk on all that.

The way i am going to account for this is to first account for the Omega i bought previously and then start to account for the MCT/Omega deal.

Hence, for July and August i amortised the remaining Omega bought forward pre MCT/Omega deal.  So that was 8bn in July and around 2 billion in August.

Accounting for the MCT / Omega Deal

The question therefore is how to account for the 130bn isk spent on the MCT deal.

The 130bn bought me a 12 month Omega for 6 of my accounts and 12 months of MCT for 2 characters per Account.

As i skill farm i will generate revenues.

The way i have decided to account for this is to:

I will hold the 130bn on by Balance Sheet and as i sell the Skill Points into the market will will reduce the 130bn by the profits made.  This will mean i will not earn any profits from my Skill Farming until the 130bn asset is exhausted.

Hence, in August i made 17bn profits on my Skill Farms and so the 130bn asset reduced to 113bn.

I expect it will take 6 months to reduce this asset to nil by which time the profits made on the Skill Farming will then be taken as pure profit.

The basic numbers for August

In July i had sales of 284bn isk vs July of 206bn.  So a rise of 38%.

So a nice rebound from what was a poor July but below the average of 330bn.

It comes to 9.2bn sales per day.

Item profits were 105bn isk which is a margin of 37% (105/284).  So back above the 25% and perhaps the 17% made in July was a data glitch which was unwound in August.  Who knows.

Taxes and Courier fees came to 23bn isk.  That takes the Trading Profits to 81bn isk and so a trading margin of 28.7% (81/284).  Again, way above the 16% target.

Then we have the 2bn Omega cost, 17bn Skill Farming Asset amortised and the 40bn distributed to The Oz Show takes me to 23bn increase in wealth for August.

What is needed to get wealth to rise to 100bn in a month?

This still remains my target and i am hoping the Skill Farming will really help in 6 months time.

Lets assume i only get the 25% item profit margin that i target . . . . 

To get 100bn isk of an increase in wealth before distributions i would need to make daily sales of 18bn isk.

I am pretty sure i wont get there sustainably on the current strategy so i am putting my mind to how else to earning isk.  Skill Farming is one idea.  May need more.

My Sales Strategy

For me, the market was better in August.

My strategy is to Buy from Sell Orders in Jita to sell in the trading hubs in other Regions.

I don't sell consumable items such as ammunition given they tend to be high volume and very competitive.  That includes ships.

I rarely sell items used as components in manufacturing because the end buyer tends to be cost conscious (and armed with spreadsheets) and able to manufacture the items themselves if market prices are too high.

I sell items that are in low supply and sell very slowly.  These items tend to have very low competition - sellers want to get cash quickly and so don't bother in these items.  If i put an item on the market and it sells in 15 days that is fine with me.

I sell items that are typically bought to kit a ship as a player progresses or has to replace a destroyed ship / pod.

Each month i sell 20-30% of what i had to sell at the start of the month.

I have a rule that the minimum profits have to be 100m isk.  It is no use me buying items for 5m to sell them for 15m.  The profitability may be great but that won't move the dials.  That said, it is surprising how many items i can buy for 120m from Jita Sell Orders and sell for 220m in the other trading hubs.  At that isk level, players re-equipping don't care about spending an additional 100m isk to save time.

And in the secondary trading hubs Amarr / Dodixie / Rens / Hek buyers will not travel even one jump to buy a cheaper item.

Therefore, i mostly sell Implants, Blueprints, ship equipment and some structure modules.

What is selling well in August

I saw a decent pickup in Blueprints.  And not in 1s and 2s but in 4s and 5s.  Not sure why i would be seeing whole families of Blueprints bought but they are good earners.  Not sure i will see this continue into September.

Making good sales of blueprints can disguise what is a slow market.  For example, i may log in and see that i have made 16bn isk of sales of which Blueprints are 12bn on one character.  So nice to do but not sustainable.

Implants were nice and steady though they have become more competitive so i have lost market share.

Mining equipment for me is very low sales - much more competitive.  I still get decent sales in some items.  I find as we go through the Autumn demand will pick up and should be able to re-enter the market.

Ship Equipment did ok.

I have not sold any structures for a while - so stations and towers.

Manufacturing

I do this opportunistically and i don't keep track of it.  I don't (yet) do it systematically but i need to get a grip.  I am sure there are many items i sell in the Trade Hubs that i could manufacture in Jita and so get a better in price vs buying them from Jita Sell Orders.

But so far i manufacture items that sell for over 1bn isk.  My favourite items are where the Blueprint Original costs >10bn and there are no Copies in the Contract Market.  Sort of makes me feel i have the market to myself.

Planetary Interaction

For now, i have stopped trying to make this work.

Research

For now, i have stopped trying to make this work.

Station Trading

All in Jita.  And i am not focusing on this for now, so only 12bn sales.

Real life puts this on the back burner.

My idea of station trading is not buying items when they look cheap.  For me, station trading is about sticking to the slow moving items and quite often i am the only person in Jita trying to sell an item.  Almost always Selling for over 1bn isk.

What i don't do is Investing.  I.e. i don't buy an item now i think is cheap and hold onto it to sell it a few months later when the price has risen.

Alpha Accounts

I upgraded 2 of these accounts to Omega as part of the MCT deal.  So training them all hard to get to the 5m skill points to start the skill farm.

That leaves 1 Alpha account with a character in Venal left.  I also added another character to that account and am training it up to 5m skill points.  The idea here is to get another set of Alpha Accounts ready for Skill Farming sometime in the future if needed.

Current Wealth

Current wealth is 1.636 trillion ISK made up from:

• Plex held as an investment 0bn ISK
• Items in hanger for sale 189bn ISK
• Items in hanger for use in business 11bn ISK
• Omega brought forward 114bn ISK
• Buy orders on the market 33bn ISK
• items for sale 1.51 trillion ISK

• less a 20% provision 302bn ISK*

• ISK in wallet 83bn ISK

When i add up my wealth, 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 or are used to generate isk that can be readily resold back onto the market.  Any ships or skills or fittings etc i buy are counted as expenses in that month.  The only exception to this rule is Blueprint Originals i use for manufacturing.  They are held at cost.

* 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.

Another trader close to 1 trillion

Stranathor, who writes the blog I wanna be a Trillionaire, so frickin' bad... is now very close to 1 trillion of wealth.

His trading strategy is very much like my own.  Buying from Jita Sell Orders and having the items couriered to other Regions to sell.

Each month he (i assume it is a he?) updates how he is doing and what he is selling a posts a nice spreadsheet show the details of his wealth.

Different to me, he does some investments that are now almost 40% of his wealth.

I suspect he will be at 1 trillion next week.

The blog is a good read if you want to follow someone's journey from nil to 1 trillion.