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Thursday, 23 May 2013

Progress after 10 days

I am continuing with Regional Hauling – buying in Jita and selling in Dodixie.

I am now looking to buy items under 15m ISK that generate a return of at least 20%.  Sticking to the low volume items – so keeping mainly with Blueprints.

Every night i log in, see what has been sold, update the remaining sell orders and then fly to Jita to buy new items to sell in Dodixie.  I am selling 47 items – mainly Blueprints.

Timewise I am sticking to 45 to 60 minutes per night – though last night i did some Distribution missions and so was on for longer.  It takes me 15 minutes to fly to Jita (15 jumps, 1 minute a jump) a few minutes to buy the new items and then 15 minutes to fly back to Dodixie.  The remaining time is spent posting the bought items for sale.

My main constraint remains the ISK i have to invest.

My relevant Trading Skills are:

Accounting level 3 means that my tax rate on sale is reduced 30% (10% per level) from 1.50% to 1.05%.

Broker Relations level 4 means that my broker fee for posting buy and sell orders is reduced from 1.00% to 0.80%.

Contracting level 4 means that i can have a maximum of 17 contracts (4 per level) going at any one time – i will start contracting out my hauling once i get to 100m ISK of goods to haul.  Safer that way.

Marketing level 3 means that my sell orders can be purchased by buyers that are 16 jumps away (5 per level).

Retail level 4 means that the number of buy + sell orders i can have active at any one item is increased by 32 (8 per level).

Trade level 4 means  that the number of buy + sell orders i can have active at any one item is increased by 16 (4 per level).

. . . . . hence i can have 53 buy + sell orders active at any one time (5 + Trade Level 4 + Retail Level 4).

And the Social skills mean that my standing with the Federation Navy is improved and so i pay lower Fees.

I am currently trading Marketing Level 4.  I don’t need more slots but my next step will be to finally buy some implants to speed up my training and then start on Trade Level 5.  I have held of up to now on using implants because i could use my ISK much more effectively in Trading and i was not being held back by lack of skills.  However, i am now getting close to the lack of selling slots being a hindrance.

Current wealth is 249,087,354 ISK made up from:
  • items for sale 293,586,354 ISK
  • less a 20% provision 58,717,271 ISK*
  • items in storage for sale 3,010,000 ISK
  • ISK in wallet 11,208,834 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.

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