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Saturday, 8 June 2013

Trading update

A new buying location: I have started to courier items for sale from Amarr to Dodixie.  This will add to my current regional hauling strategy of Jita to Dodixie.

It is mainly implants that I haul (or more correctly I contract the hauling to Pushx Industries) from Amarr but there appears to be better margins than buying these implants at Jita.

If this carries on to be a major thing then i will put another alt in Amarr.  At present i send my Jita alt to Amarr afk whilst i do other things around my apartment.  But then this alt needs to afk fly back to Jita again – not a very efficient set up.

Skills update: My main character is within a day of learning Wholesale 4 which will give him 125 available active orders.  Hence, the active order limit will no longer be the key constraint.  It will remain as the ISK i have to invest which will hold back my wealth progression.  My next skill will be to increase Accounting to level 4 to further reduce the sales tax i pay.

Selling more items: My list of items that i look to sell has risen to 77 though as i update my research c10 – 15% of these items are no longer achieve my 20% margin target.  I have started to move into deadspace items to sell.  Early days but they seem to be right in my target market - low competition, high margins, slow moving sales.

Sales value per day rising: At present i am couriering one payload a day of about 300m ISK, so that is 60m profit per day if i can get my full 20% margins, implying a full month profit of 1.8bn ISK.  Of course, that is a gross simplification and i will do worse given business trips and better as my ISK to invest increases.

I also for the first time posted over 2bn ISK of sell orders.

Current wealth is  1,823,866,079 ISK made up from:

Items for sale 2,182,068,820 ISK
less a 20% provision 436,413,764 ISK*
items in storage for sale 10,000,000 ISK
items in transit 0 ISK
ISK in wallet 68,211,023 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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