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Sunday, 30 June 2013

End of month update

ISK wise it has been a good first full month.

My wealth has risen to 5.5bn ISK, a rise of 4.2bn in June.  More than i thought it would given i was away for a perhaps a third of the month.

Trading continues to gather momentum: I am using 87 of my 125 active sell/buy order slot limit.  I monitor 114 items to buy from Jita to sell in Dodixie.  Implants and fittings are currently my main ISK makers.  I remain focused on the high margin but slow moving items to sell.

My average profit margin after all costs is remaining above 20% and i am selling c15% of my sell orders that i post each day.  Hence, my daily wealth increases by [sell orders] x 15% x 20% = [sell orders] x 3%.  Given i am now posting 6bn ISK of sell orders i am expecting my wealth to increase by an average of 180m per day at least.  It is early days but i believe i am finding myself with 1bn of ISK to reinvest everyday from sales made overnight and during the day.

Trading skills almost complete: i have almost finished Wholesale 5 which will add 16 extra selling slots to my capability and allow me to start on Tycoon which adds 32 slots a level.  Given i don’t plan on doing station trading in the future i feel my skills are adequate for the current trading strategy i am adopting.

Contract Hauling a worthwhile expense: I continue to use Pushx Industries to haul my items from Jita to Dodixie  I am now using the Rush Job feature as standard which means i am spending c21m ISK at haul.  This month i have contracted Pushx Industries 34 times and paid them 413m ISK to Haul items from Jita to Dodixie.  Whilst the cost is high and indeed represents 1.7% of my typical sales and so stands at the highest individual cost in my Regional trading strategy it does allow me to spend more time researching items to sell instead of doing a 40 minutes round trip.  It is also safer and the Rush Jobs are often done within 6 hours, often 3.

Wallet centralised: I have trained some Corporation skills and indeed i have started the corporation – more on that in another post – but the aim is to provide a centralised wallet to speed up transferring ISK around my alts.  I may extend this to the centralisation of moving items, not really decided yet.

New Trading Alt ready to start: I am going away for 24 hours.  Spare character slot ready – i have fully deleted my Amarr alt.  When i return on Monday evening i will start the training of the new alt in the starter missions and then place it at Hek.  Once the starter missions are done i will start the Dual Training by spending a Plex.

Manufacturing Alt next: once I have completed the starter missions for my Trading Alt and installed it in Hek I will then do the starter missions for my Manufacturing Alt (which is the current Jita buyer) and re-install it back in Jita.  I suspect the first month or longer will be spent levelling the skills required - which is fine by me given I need to do much more reading around manufacturing to see where the most profitable strategy lies.

Current wealth is 5,519,232,106 ISK made up from:
  • Items for sale 6,697,962,342 ISK
  • less a 20% provision (1,339,592,468) ISK*
  • Items in storage for sale 76,700,000 ISK
  • Items in transit 0 ISK
  • ISK in wallets 84,162,232 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 cost is or at least the maximum reduction I would need to make to my sell orders as a whole before they are sold.

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