I will be at Fanfest this year

For the first time, i am going to Fanfest.

Fanfest Flightbuddies website

The website Fanfest Flightbuddies shows, for those who chose to sign up, who will be on their flight and adjacent flights.

So for me, i will be arriving at 15:15 on 13 May from London.

Still working out the best way from Airport to Hotel.

Likely pre-register on the Wednesday given i am staying near the Harpa Conference & Concert Hall.

Schedule

The Schedule has been released in a blog.

I have not yet decided what to attend.  Not even sure if i can swap locations part through a day.

But on Thursday the ESI talks look good and the Alliance Leadership Panel.

On Friday The Main Stage looks most likely for me.

Also on Saturday the Main Stage though depends what the "Data Panel" is on the Second Stage.

Good to see that the days start at gentleman's hours of 10am, so gives the Club plenty of time to serve breakfast.  I get up at around 4am to get into the office around 520am when i work.  So a proper lie in.

An App

And this year there is an App in the words of the blog "To help you plan your festival experiences, this year introduces an official EVE Fanfest mobile app, letting you explore the full schedule, build your personal agenda, navigate interactive floor plans, and stay up to date with everything happening across the venue. It will also include lively chat boards for all things Fanfest, making it easier to join the conversation as the event unfolds. If you’re flying solo, it may also help you connect with capsuleers you have not met before."

just dabbled around it, looks useful.

Events

Probably not going on the pub crawl but i will be going to the Charity Dinner.  Which looks like a 30 minute walk from the Conference Hall.

Eve Online being sold back to management for $120m

Pearl Abyss announced yesterday that it was selling CCP ehf (owner of Eve Online) to its management for $120m.

The details

The announcement from Pearl Abyss is on its website: Decision on Disposal of Shares and Equity Securities of Other Corporations (Major Management Matters of a Subsidiary)

The Sale will complete on 6 May - that is quick.

The $120m is made up of a cash receipt of $100m and $20m for the "right to acquire tokens" . . . . . . whatever that means.

The announcement does not actually say who is buying it (or it is lost in translation) but media reports say it is being sold to the CEO, Hilmar Petursson.  So he has had to come up with a cool $100m.

What and when did Pearl Abyss buy CCP?

Pearl Abyss acquired CCP in 2018 for $225 million (with an additional $200 million contingent on performance targets that were not met).  So $225m.

Financial Losses: CCP has only been profitable in one year since the acquisition (we don't have 2025 numbers yet), incurring a total loss of $56 million alongside a $50 million write-down.  Hence they had to borrow $50m from Pearl Abyss.

Lets assume that this $50m has been repaid to Pearl Abyss or remains as a debt due to Pearl Abyss.

When will we get the 2025 numbers for CCP?

I suspect on 12 May 2026 we will get the numbers.

What did we think CCP was worth?

When we discussed the possible sale of CCP back in June on the Oz Show I estimated it would be worth $100m, so pretty close.

"What would someone pay?: CCP made EBITDA (earnings before interest, tax, depreciation and amortisation) losses of $12m in 2024.  Eve Online made revenues of $55-60m, lets assume 10% ebitda margins (feels low) and use a market multiple of 25x = $150m, less the $50m debt they owe to Pearl Abyss = $100m.  And then still to think of the loss making parts."

What is CCP ehf?

CCP ehf is a subsidiary of Pearl Abyss Iceland

Fanfest

. . . . . . will be a bit more dramatic than usual, i guess.

Alpha Market Trading - 1.2 billion

9 March 2026

The background to this series: i aiming to use Regional Trading between Jita and Dodixie to take an alpha account to Omega status.

My wealth is 1.2 billion.

This is day 30 of this project.

Things have been slower in the last few days.  Main reason is that the competition for items valued at over 40 million is higher and then combine that with updating prices with a high Broker Fee mans that profits can be quickly depleted if sales are low vs updating volumes are high.

Therefore, focusing on items that sell at least once a day is important.  No more items that sell once ever two or Three days if there is active competition around.

Hence, i have gone back to selling the cheaper blueprints because they sell well and are highly profitable, as well as looking for the higher value items to sell.

Sell Orders now in Dodixie

Each character has a maximum of 17 order slots = 17 x 3 = 51 slots in total.

Right now i am using 37 slots, so 14 spare slots.

Comes to a total of 1.4 billion isk as Sell Orders.

Current Wealth.

If i only look at ISK + Market Orders + Items in Inventory that are to be sold (so ignore my catalyst, ammo etc), then my worth is 1.2 billion which is made up from

ISK 88m

Inventory 0m

Sell Orders 1392m

Provision 278m

I have always taken a 20% provision against my Sell Orders which reflects the Transaction Tax that will be paid when the items sell + the cost of reducing the price to keep it competitive if required + the eventual reduced price when sold.  In reality, i rarely end up needing this provision.  But lets keep things conservative and understand that the only ISK is ISK.  Everything else is an approximation until sold.

Alpha Market Trading - 1 billion wealth

3 March 2026

The background to this series: i aiming to use Regional Trading between Jita and Dodixie to take an alpha account to Omega status.

My wealth passed 1 billion.

This is day 23 of this project.

Sell Orders now in Dodixie

Each character has a maximum of 17 order slots.

And i am getting close to using all the slots from all 3 characters.  I suspect i won't run into a slot problem as i move out of the lower valued items and replace with higher valued items.

Comes to a total of 1.3 billion isk as Sell Orders.

Current Wealth.

If i only look at ISK + Market Orders + Items in Inventory that are to be sold (so ignore my catalyst, ammo etc), then my worth is 1.0 billion which is made up from

ISK 8.5m

Inventory 0.1m

Sell Orders 1266.4m

Provision 253.3m

I have always taken a 20% provision against my Sell Orders which reflects the Transaction Tax that will be paid when the items sell + the cost of reducing the price to keep it competitive if required + the eventual reduced price when sold.  In reality, i rarely end up needing this provision.  But lets keep things conservative and understand that the only ISK is ISK.  Everything else is an approximation until sold.

Alpha Market Trading - over 900 million

1 March 2026

The background to this series: i aiming to use Regional Trading between Jita and Dodixie to take an alpha account to Omega status.

My wealth is now over 900 million isk.

This is day 22 of this project.

I am now using 3 characters in Dodixie and have another character in second account in Jita buying the items from Sell Orders to courier to Dodixie.

I use third party couriers given i am now sending over 100 million of items.

Ongoing work to find items to sell in Dodixie

I am now willing to buy items for up to 100 million isk in Jita to sell in Dodixie.

There are two key criteria: 1) margin must be over 22-25%; and 2) the sales volume needs to be at least 1 every 2 or 3 days.

I am looking through Blueprints, implants, boosters, rigs, ship equipment and subsystems.

As my wealth grows two things are happening:

1) I am moving out of the lower value items.  Their profit margins are some of the best but they no longer move the dials.  Buying missile blueprints in Jita for 1 million and selling in Dodixie for 2 million is great stuff but is now pocket money.

2) The upper value i am willing to contemplate is rising.

Therefore, i keep assessing the same items and rejecting some because they are too low in value and accepting new ideas which are now in my value range.  I.e. items i can buy for 1 million are out vs items i can buy for 40 million are in.

Sell Orders now in Dodixie

Each character has a maximum of 17 order slots.

And i am getting close to using all the slots from all 3 characters.  I suspect i won't run into a slot problem as i move out of the lower valued items and replace with higher valued items.

Comes to a total of 1.1 billion isk as Sell Orders.

Current Wealth.

If i only look at ISK + Market Orders + Items in Inventory that are to be sold (so ignore my catalyst, ammo etc), then my worth is 956.0 million which is made up from

ISK 86.3m

Inventory 0.1m

Sell Orders 1087.0m

Provision 217.4m

I have always taken a 20% provision against my Sell Orders which reflects the Transaction Tax that will be paid when the items sell + the cost of reducing the price to keep it competitive if required + the eventual reduced price when sold.  In reality, i rarely end up needing this provision.  But lets keep things conservative and understand that the only ISK is ISK.  Everything else is an approximation until sold.

Alpha Market Trading - over 500 million, 15th day

24 February 2026

The background to this series: i aiming to use Regional Trading between Jita and Dodixie to take an alpha account to Omega status.

My wealth is now over 500 million isk.  Actually that was the day before, it is now over 600 million.

I am now using 3 characters in Dodixie and have another character in second account in Jita buying the items from Sell Orders to courier to Dodixie.

I use third party couriers given i am now sending over 100 million of items.

Ongoing work to find items to sell in Dodixie

I am now willing to buy items for up to 50 million isk in Jita to sell in Dodixie.

There are two key criteria: 1) margin must be over 22-25%; and 2) the sales volume needs to be at least 1 every 2 or 3 days.

I am looking through Blueprints, implants, boosters, rigs, ship equipment and subsystems.

Sell Orders now in Dodixie

Each character has a maximum of 17 order slots.

Three Characters are posting sell orders for now.  17 from my first character, 17 from my second and 3 from my third.

Comes to a total of 733 million isk as Sell Orders.

Current Wealth.

If i only look at ISK + Market Orders + Items in Inventory that are to be sold (so ignore my catalyst, ammo etc), then my worth is 628.5 million which is made up from

ISK 42.2m

Inventory 0.1m

Sell Orders 732.7m

Provision 146.5m

I have always taken a 20% provision against my Sell Orders which reflects the Transaction Tax that will be paid when the items sell + the cost of reducing the price to keep it competitive if required + the eventual reduced price when sold.  In reality, i rarely end up needing this provision.  But lets keep things conservative and understand that the only ISK is ISK.  Everything else is an approximation until sold.

Alpha Market Trading - tenth day, over 300 million

18 February 2026

The background to this series: i aiming to use Regional Trading between Jita and Dodixie to take an alpha account to Omega status.

My wealth is now over 300 million isk.

I am using two characters, both in Dodixie.  And i have a third character in Dodixie ready to start selling.

Couriering items from Jita to Dodixie

Today i came home to over 80 million of sales.  That is too much for me to carry in my Catalyst destroyer - so i am issuing courier contracts for someone else to haul my items from Jita to Dodixie.

i add 20% collateral and offer a 2% fee on all that.

So, in this first case, the items came to 84 million, so total collateral was 101 million (84 + 20%), and the fee offered was 2 million (2% of 101).  It arrived within an hour.

Sales

This is going slower than in the past, i have to admit.  But i am enjoying this.  There is a definite advantage for being at home - i can do my cycles in a day.

Minimum Margin 25%

Transaction fees do weigh at 7.5%.  Broker fees are 1.5%.  And now Courier fees 2%.  So 10% of my Sales are effectively taken up in fees.

Therefore, i will estateblish that the minimum item profit margin i will accept is 25%.

This is all with reference to Sales.

So, if i buy something for 75 in Jita, i must sell it for 100 in Dodixie.  The item profit will be 25 (100 - 75).  From this i will have paid 2m in courier fees (2%). 1.5 million in Broker Fees (1.5%) and then 7.5 million on sale (7.5%).

Leaving 15 million from the 100 million sale.

ouch.

Sell Orders now in Dodixie

The first two Characters are posting sell orders for now.  17 from my first character and 15 from my second.

Comes to a total of 378 million isk as Sell Orders.

Current Wealth.

If i only look at ISK + Market Orders + Items in Inventory that are to be sold (so ignore my catalyst, ammo etc), then my worth is 334.8 million which is made up from

ISK 31.8m

Inventory 0.4m

Sell Orders 378.2m

Provision 75.6m

I have always taken a 20% provision against my Sell Orders which reflects the Transaction Tax that will be paid when the items sell + the cost of reducing the price to keep it competitive if required + the eventual reduced price when sold.  In reality, i rarely end up needing this provision.  But lets keep things conservative and understand that the only ISK is ISK.  Everything else is an approximation until sold.

Alpha Market Trading - eighth day, over 200m

15 February 2026

The background to this series: i aiming to use Regional Trading between Jita and Dodixie to take an alpha account to Omega status.

My wealth is now over 200 million isk.

I am using two characters, both in Dodixie.

New Items to Buy

I am now selling items that i buy from Sell Orders in Jita that cost up to 20 million isk.

And i am using the Eve Excel Addin to help me find and organise it all.  That will be the subject of my next post.

The weekend has been busy, i can log in more often.  Therefore better able to keep replacing items that have been sold much quicker.

Couriering

I am still doing my own couriering.  Though the last haul today was a Jita market value of 60 million isk.  Once i get to 80m i will be outsourcing it to third parties who know what they are doing, can take the risk and therefore leave me insured against loss.

Sales

The main learning point is that Skill Books are competitive - therefore i will not be trading in Skill Books from here.

Blueprints at the 1-5 million isk level are steady sellers.

And i am finding decently sellers in the 5-20 million levels also, as shown below.

Third Character introduced

I have added a third character to Dodixie.  That will bring the total Market Order slots available to 51 (17 x 3).

Sell Orders now in Dodixie

The first two Characters are posting sell orders for now.  17 from my first character and 15 from my second.

Transaction fees do weigh at 7.5%.

Comes to a total of 285 million isk as Sell Orders.

Current Wealth.

If i only look at ISK + Market Orders + Items in Inventory that are to be sold (so ignore my catalyst, ammo etc), then my worth is 231.5million which is made up from

ISK 2.8

Inventory 0.5m

Sell Orders 285.2m

Provision 57.0m

I have always taken a 20% provision against my Sell Orders which reflects the Transaction Tax that will be paid when the items sell + the cost of reducing the price to keep it competitive if required + the eventual reduced price when sold.  In reality, i rarely end up needing this provision.  But lets keep things conservative and understand that the only ISK is ISK.  Everything else is an approximation until sold.

Alpha market trading - fifth day, over 100m

12 February 2026

The background to this series: i aiming to use Regional Trading between Jita and Dodixie to take an alpha account to Omega status.

My wealth is now over 100 million isk.

I am using two characters, both in Dodixie.

New Items to Buy

For now i can mostly rely on the items i was selling on day 1.  Though i am now on the lookout for items costing 5-10 million in Jita.

Hence the Nurotoxin Control item i bought for 11.7 million.  That could sell for 17.5 million in Dodixie  

In all, this batch of purchases from Sell Orders in Jita came to around 24 million isk.  So still ok to courier it myself.  I will start to worry at around 80 million i think.

Sell Orders now in Dodixie

Both Characters are now posting sell orders.  17 from my first character and 12 from my second.

Transaction fees do weigh at 7.5%.

Comes to a total of 130.8 million isk as Sell Orders.

Current Wealth.

If i only look at ISK + Market Orders + Items in Inventory that are to be sold (so ignore my catalyst, ammo etc), then my worth is 112.0 million which is made up from

ISK 6.8

Inventory 0.5m

Sell Orders 130.8m

Provision 26.2m

I have always taken a 20% provision against my Sell Orders which reflects the Transaction Tax that will be paid when the items sell + the cost of reducing the price to keep it competitive if required + the eventual reduced price when sold.  In reality, i rarely end up needing this provision.  But lets keep things conservative and understand that the only ISK is ISK.  Everything else is an approximation until sold.

Alpha market trading - Eve Tycoon

Eve Tycoon is a website that does many things but for me it shows the Eve market browser.  Simple as that.

The URL is https://evetycoon.com/market

It is very easy to use, works just like the market browser in game.

For example, in the image below i am looking up the price of Caldari Drone Specialisation Skill in Jita.

You can search for specific items or use it as a browser.

For a quick way to look up the price of an item in a given market, or across all markets, it is very efficient.