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Sunday, 23 June 2013

A lot of milestones passed this week.

Wealth moved over 4bn ISK.

Wealth grew by 3bn ISK in under a month – i had a good week this week.  As i move to sell items costing over 100m ISK and hold my 20% margins then my wealth moves up strongly as each item sells.  For items that sell for over 200m ISK i am willing to accept 15% net profit margins given the ISK profit amount itself is large.

Active sell orders moved over 5bn ISK for the first time.  I am using 83 of my 125 active sell order limit.

I had over 1bn ISK on one contracted to haul for the first time (collateral 1.2bn ISK for a fee of 23.6m ISK).  As ever, i continue to use PushX Industries to haul the items from Jita to Amarr.

Seems i am selling c20% of my active sell orders per day.  And assuming i can get at least a 20% net profit margin then my daily increase in wealth would approximate to <active sell orders> x 20% x 20% = <active sell orders> x 4%.  Hence, with 5bn ISK of sell orders i would hope my wealth goes up by 5bn x 4% = 200m ISK per day.

I am currently training Wholesale 5 which will give me 16 more active sell slots and also allow me to start training Tycoon which gives me an additional 32 active slots per level.

Current wealth is 4,430,078,718 ISK made up from:
  • Items for sale 4,212,671,813 ISK
  • less a 20% provision (842,534,363) ISK*
  • Items in storage for sale 129,000,000 ISK
  • Items in transit 900,000,000 ISK
  • ISK in wallet 30,941,268 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.

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