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Saturday, 15 June 2013

Back from a business trip

I would have to admit some disappointment.  When I returned, updated my remaining orders I had only made a profit of 79m ISK for the 3 nights that I was away.  Part of the cause was having to mark down some orders heavily upon my return given competition had come in at lower pricing points.  But I suspect the main reason was that as I start to haul higher priced items then the competition is tougher and hence I need to update at least once every two days.

Anyway, this weekend I am mostly away hence I did a quick update of my orders and bought new items in Jita and Amarr and put the hauling contracts out to PushX Industries - hopefully I will be able to repost when I get home tonight.  The Jita contract I put on a "Rush Job" so paying 20m ISK for the haul.

In all, as we approach the halfway point this month my wealth has increased by 1.4bn ISK and so I can at least say I have doubled my wealth within 15 days.  A small comfort. 

Current wealth is  2,652,162,273 ISK made up from:
  • Items for sale 2,268,623,111 ISK
  • less a 20% provision 453,724,111 ISK*
  • items in storage for sale 89,700,000 ISK
  • items in transit 690,000,000 ISK
  • ISK in wallet 57,563,784 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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