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Saturday, 6 July 2013

New trading Alt started in Hek

It has been a slow week, my wealth has only increased by c900m ISK in the first 5 days of July.  Trading picked up on Thursday night as is now often the case.

Main continues its normal work: My main has stopped training and remains my seller in Dodixie.  It can post up to 141 sell orders and is currently using 80 of them.

As i start selling the higher priced implants i am finding that i am undercut quicker and occasionally by large amounts – hence the main reason why this week has been slow.  It is not unusual to loose my entire 20% profit margin on an item as competitors undercut.

Otherwise, implants and fittings are now my main seller.

New alt started in Hek: Undertook the training missions, took two nights, exploration was much easier this time.

Trained Retail to level 4 and Trade to level 3 giving the alt 45 trade slots of which i am currently using 19 to sell items in Hek.  Started training Broker Relations to reducing my costs of putting on sales orders and trained Contracting to level 2 which allows this alt to place up to 9 contracts.

I am currently training Accounting and Broker relations to further reduce my sales taxes, and Retail to increase the number of sell orders i can post.

The items i am selling in Hek are completely different to the items i am selling in Dodixie.  Only one blueprint, the rest are implants and fittings.  The NPC blueprints that made me my first few millions in Dodixie don’t sell for a profit at all in Hek.

I currently have 849m ISK of sell orders by this new alt.

Daily hauling contracts: Both my Main and this Alt are having Pushx Industries make daily hauls from Jita to Dodixie and Hek using Rush Jobs, hence paying c43m ISK per day to Pushx Industries.

Starting the new manufacturing alt: I have terminated my alt in Jita and i will start a new alt this weekend to train up in manufacturing and for the time being be my buyer in Jita.  Once i start its training i will need to buy a Plex for dual-training which will cost me c530m ISK for 30 days training.

New corporation started: Which i am using to hold the ISK centrally making it easier to transfer ISK between my characters.  As i get to understand how a corporation works i will start to make it do all the contracting with Pushx Industries.

Current wealth is 6,400,187,258 ISK made up from:
  • Items for sale 7,436,113,799 ISK
  • less a 20% provision (1,487,113,799) ISK*
  • Items in storage for sale 18,400,000 ISK
  • Items in transit 0 ISK
  • ISK in wallets 432,896,219 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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