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Friday, 17 May 2013

Progress after 3 days

3 days ago I had 4m ISK.  Each day when I return from work:

  1. I log in
  2. update my remaining orders to the lowest price
  3. note the new selling prices of the items that I have sold - I intend to buy these items from Jita to resell at Dodixie
  4. perhaps update my search for new items to sell, mainly blueprints
  5. fly to Jita (on auto-pilot, so I can be doing other things around my home)
  6. buy new items to sell - I reinvest all my ISK leaving just enough to pay the broker fee to post the sell order at Dodixie (currently 0.95%)
  7. fly back to Dodixie (again on auto pilot - no one is going to gank a catalyst carrying a few million ISK in high sec)
  8. post the orders for sale on the Dodixie market

Current wealth is 38,795,905 ISK made up from:
  • items for sale 47,840,905 ISK
  • less a 20% provision 9,568,123 ISK*
  • ISK in wallet 523,411 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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