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Saturday, 2 November 2013

October Update

I was very surprised how well this month went given i was away for half of it.

As ever, I only spend 30 to 45 minutes online during week days - assuming I am not away on business.

Wealth increased by 7.3bn ISK to 30.6bn ISK.  Which is an average of 236m ISK per day.

I am now buying a Plex a month to finance my second account and from January i will be buying two Plex per month as my Main account will need financing.

I have been fortunate enough that some people have been using the Buddy Programme link to the right >>>> which has financed my Main account to the end of the year.

As ever, i sit with too much surplus ISK which needs to be invested.  Current surplus is 8.6bn ISK – it is dead money.

Dodixie trader: Life remains good for this trader.  Items for sale are sitting at a steady level of 11.3bn ISK whilst items for purchase have risen to 1.6bn ISK compared to 0.9bn ISK in the last month – this alt is slowly entering the station trading market.  The alt is currently using 115 of the 141 trading slots.  I have found some new higher priced items to sell which still make the 20% margin - the plan is to continue to find a few of these a month.

I suspect this trader makes 120m ISK profit per day at least when i am not away from the game, and i suspect this can still rise from here as i increase my “station trading” and find higher priced items to “Regional trade”.

It pays 0.80% broker fees to post an order and a further 0.90% sales tax on a successful sale.  No longer training.

There are no medium term goals for this alt – just sticking to business as usual whilst increasing its station trading income.

Hek trader: Life is slow here though no slower than last month.  I mean to look into what else this trader can sell but October was otherwise busy.  The main items it sells are skillbooks.  It is using 79 of the 129 trading slots.

I suspect this trader operates 30% of the level of the Dodixie trader.  Even if i log in every day i don’t always sell enough items in Hek to justify a replenishment haul from Jita every day.

Pays 0.80% broker fees to post an order and a further 0.90% sales tax on a successful sale.  No longer training.

The pre-xmas plan is to find new income sources for this trader.

Manufacturing alt: This alt is gathering momentum.  During the month it made sales of 6.3bn ISK and profits of 2.1bn ISK, which compares to the 1.0bn ISK profits last month.

I now have a list of 33 items i focus on to sell, currently selling 23 of them as the other items have too low a profitability.  I started selling Industrial ships but there is no profit in these for now -  i don’t focus on these anymore.

It currently has 3.4bn ISK of sell orders listed compared to 0.5bn at the end of last month.

I now own 39 blueprints worth just over 1bn ISK, most of which have already comfortably paid for themselves.

I have moved my manufacturing alt into Lonetrek.  Close to Jita but there are plenty of manufacturing slots available.  The downside is that i can’t update or see my sell orders in Jita from the Lonetrek region given Jita is in a different region.

At the moment, i believe my manufacturing alt makes 70m ISK profits per day = 2.1bn ISK per month.  At this stage, i am considering that a success given that i knew nothing about manufacturing 3 months ago.  Furthermore, i can honestly say that one alt which takes up 15 minutes per day will be able to fully finance both my accounts and leave plenty of spare change for a “slap up meal at Mrs Miggins pie shop” . . . . an old Blackadder quote!

If i had to have only one alt to finance my playtime, i now suspect i would go down the manufacturing route – it is takes up very little time and is quite fun.
During November i plan to add more items onto the list of items to sell and see how far i can push the profits this alt can make.

On skill training – being away on business alot has meant i have neglected a medium term plan for this alt and just left the skill training ticking over.  When i come back from business next week this alt will have completed Advanced Mass Production Level 5 thus allowing it use manufacturing slots at once.

My pre-Christmas goal for this alt is to determine its carear path which will require me to do a lot of reading up on manufacturing!

Rent a Corporation Office?
On a side note, i could rent a Corporation Office in my Lonetrek station for 3m ISK per month compared to Jita of 2.9bn ISK, Dodixie of 141m ISK and Hek of 132m ISK.  Tempting – but it would be a vanity item for now.

Mental note to self that i really need to look into Corporations. At present i use my Corporation to hold spare cash, do all the purchasing and issue the hauling contracts.  For now, it serves to streamline my business process.  It does, though, look like a lot of fun to be had with all the corporation mechanics available.

The new account:  I started a new account in September which will cost me a plex a month to maintain, i.e. 580m ISK per month at todays prices.

I am training this character up in Research skills.  Whilst it is doing this it is my buyer in Jita – so he buys the items for the traders to sell in Dodixie and Hek.  As ever, the items are hauled there by Pushx Industries.

Similarly to my manufacturing alt, the medium term plan is ticking over given i am away alot on business.  Currently training Advanced Laboratory Operation Level 5 which will allow me to run 11 Laboratory slots at once.

My pre-Christmas goals for this alt is also to determine its career path which will require me to do a lot of reading up on Research and also for this alt to start contributing to my wealth.

November will see me away from the game again for almost half of it - so it may end up being a slow month.

Current Wealth:

Expected business purchases in the next 30 days
Plex 580,000,000 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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