Translate this page

Some beautiful music to read the blog with

Tuesday, 28 May 2013

The (UK) holiday weekend was profitable

I am now at my maximum number of active orders on the market of 53.

Until Retail 5 is trained in 7 days time i will instead be dropping those items i was initially buying for 500k ISK and selling for 2m ISK and focusing on items to buy for say 20m ISK to sell for 30m ISK.

I have started using PushX Industries as routine for courier contracts now that my ISK to invest is over 100m a time.  Right now i have 2 contracts outstanding with a total of 226m ISK cargo which i hope to make margins of 30 to 40% on (i.e. sales of c345m ISK sales leading to profits of 119m ISK before taxes and fees).

I also created an alt character on my account and immediately sent him to Jita.  The plan here is to send money to this alt to make purchases in Jita and then by using contracts transferring these items to Dodixie to by put on the market to sell.  The alt character can not learn skills whilst another character on the account is learning skills – so his abilities are limited to buying items and contracting them to my main character who can then contract them to PushX Industries to haul to Dodixie.  And indeed my main character can do all this issuing of contracts from Dodixie.

Hence, it looks like the days of hauling myself are at an end.

On one side PushX Industries saves me the time of flying to Jita to pick up items to take back to Dodixie (30 minute round trip) as well as saving me the risk of being ambushed (ganked, in Eve parlance).  But on the other side, PushX Industries will never be as quick as me – hence i will not be able to reinvest my ISK as quickly as before and i will always have items “in transit”.  However, my Regional Hauling strategy is now more “AFKable” than before and more scalable.

My best selling items continue to be Blueprints and now Implants.  I only buy and sell a few (1 or 2) at a time.  When sold, i review the sell price in Dodixie and the buy price in Jita and restock to sell again.

Current wealth is 674,246,276 ISK made up from:
  • Items for sale 517,368,074 ISK
  • less a 20% provision 103,473,615 ISK*
  • items in storage for sale 20,000,000 ISK
  • items in transit 226,000,000 ISK
  • ISK in wallet 14,351,817 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 until i finally hold it as ISK.  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.