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Sunday, 11 May 2014

April 2014 update

This is it - i am now worth over 100bn ISK.  It took exactly a year.

Though i was away Eve for slight over 2 weeks in April (again) my wealth increased by 10.9bn ISK to 103.7bn ISK, which is an average of 362m ISK per day.  As ever, I had expected nearer 7bn.

This month my holding in Plex generated 440m of the 10.9bn growth in my wealth.  My Plex holding is now 64 Plex worth 45.1bn.

I expected February, March and April to be slow given real life commitments and May is not going to be any better.

Therefore, during these months i am only selling the T1 items i manufacture and only trading other items where i make at least 15m ISK profits and 20% margins - though in the week here and there that i am around i am willing to drop my profit target to 10m ISK.

My strategy is to focus on low volume but high margin items that i either manufacture or buy (off sell orders) in Jita to sell in Dodixie / Hek / Rens / Amarr.

I don't have any standings of note.  To reduce my costs of trading i have trained all my alts that post sell orders to Broker 4 and Accounting 4.

For those able to devote much more time to Eve, one way of reading this blog is to see how little time is required to generate sufficient ISK to plex your own account.

I have 2 accounts with 6 alts in total.
  • One one account: I have a trader at Dodixie and a trader at Hek which sell items that have been hauled there from Jita; and I have a manufacturer in the Lonetrek region that sells items in Jita and sends items to the traders in Dodixie, Hek, Amarr and Rens to sell.
  • On the other account: I have a buyer in Jita that is is only there to buy items in Jita to send to the traders in Dodixie, Hek, Amarr and Rens; I have an alt that is skilling up in Invention which currently sits in Amarr to sell the items manufactured by my Lonetrek manufacturer; and i now also have an alt that sits in Rens to also sell the items manufactured by my Lonetrek manufacturer.
All my hauling is done by third parties, namely PushX Industries - the time required to haul items from Jita to my traders in Dodixie and Hek would take up too much time.  Better to let these third parties do the hauling (for a fee, of course) whilst i am offline.  All my hauling is "Rush Jobs" and generally takes no less than 5 hours (often in under an hour) to haul from Jita to my four locations in Dodixie / Hek / Amarr / Rens (which are also the other trade hubs).  On average i pay 25m ISK per haul (so 100m ISK if i want to haul to all 4 trade hubs in one time) but it is well worth it given i can get those items bought in Jita onto the market in the other trade hubs very quickly and the hauling costs make up 1 to 3% of my sales price.  Not much given i aim to make 20% margins before all costs (hauling, broker fees, sales taxes).  I wrote a post on Rush Jobs which details why it is more profitable paying up.

I am now buying 1 Plex a month to finance my two accounts.  So, 700m ISK per month costs going forwards.  I do occasionally benefit from some kind soul upgrading their account having used the link to the right >>>>>>>>>

Plex: As of the end of April i held 64 Plex at a cost of 43.3bn ISK which at 705m per Plex was then worth 45.2bn ISK.  In other words, my holding in Plex has made me 1.8bn since i started investing in Plex at the end of February.

My biggest headache was that i was sitting on too much ISK which was not invested in the market.  I had up to 35bn ISK in my wallet which was dead money.  At most i need to hold 10bn ISK to finance my business, the other 25bn or so is surplus to requirements.

I know two things about that ISK.  Firstly, it will be there tomorrow with no chance of making a profit (or a loss).  Secondly, there is inflation in Eve so in effect it is not keeping up with the cost of living in Eve - in other words, its value to me in the future is lower than its value to me today.

So far, Plex is the best item i can find that (in the medium to long term) is the best asset to keep up with inflation in Eve - as i hope to detail in my next post.  I expect to continue to invest all profits made each month into Plex from here.

Dodixie trader: Life remains good and consistent

Items for sale fell back from 20bn ISK to 18bn ISK which more reflected that i was away for the last couple of days of the month and so did not replace the sales i made.

I sell T1 manufactured items that my manufacturer makes in Lonetrek, and any item i can find that makes profits of over 15m ISK + has a profit margin of over 20% + is a slow seller.  I.e. ship equipment, implants, ship modifications, a few skillbooks and a few blueprints.

The alt is currently using 76 of the 141 trading slots.

This alt 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 – for now i will focus on the manufactured items from my alt in Lonetrek and selling expensive items hauled from Jita.

Hek trader: Life remains good and consistent

Items for sale rose to fell back from 15.6bn ISK to 15.0bn ISK.

Much like the Dodixie trader I sell manufactured items that my manufacturer makes in Lonetrek, and any item i can find that makes profits of over 15m ISK, has a profit margin of over 20% and is a slow seller.  I.e. ship equipment, implants, ship modifications, a few skillbooks and a few blueprints.  Other than the manufactured items, there are very few common items i sell in Dodixie and Hek.

I use 74 of the 129 available sell slots.

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

Amarr Trader: Best month ever

Only really fully started up in mid December and focuses solely on items manufactured by my alt in the Lonetrek region.  During February this alt's sales were 11.0bn ISK vs prior months 4.8bn ISK and i suspect the profits were 4bn ISK vs prior months 2.4bn ISK.

The increase is because i also sell one or two highly priced items i haul from Jita and i made some sales or T2 items i manufacture

Items for sale at the month end fell back from 10.9bn to 7.5bn which more reflected that i was away for the last couple of days of the month and so did not replace the sales i made.

I now use 23 of the 45 available sell slots - when i have time i am looking for a few other items to sell in Amarr.

Pays 0.75% broker fees to post an order and a further 0.90% sales tax on a successful sale.  During the month i increased Accounting to Level 4 and Broker Relations to Level 5 to reduce those fees / taxes.

The main aim of this alt is to train up for Invention, and here the training goes on.  Needless to say, with being busy in rl this whole invention thing has been on the back burner!

Rens Trader: fourth full month and though slower

Started just before xmas and also focuses solely on items manufactured by my alt in the Lonetrek region.  During April this alt made sales of 2.7bn vs prior month of 4.5bn ISK and i suspect profits of 1.4bn ISK vs prior month of 2.2bn.  Items for sale at the month end were 9.1bn ISK, up from prior month of 7.7bn.

Rens is a slower trade up so i did not expect to see great things - but being able to earn enough to buy two Plex per month is no bad thing.

I have no plans to expand into selling other items - i will stick to selling the items my manufacturer produces.

I trained this alt to give me 53 open sell slots and currently i use 39 of them.

Pays 0.8% broker fees to post an order and a further 0.9% sales tax on a successful sale.

No longer in training.

Manufacturing alt: This alt does all my manufacturing from the Lonetrek region which is within easy access to Jita.  Not much has changed since November.

This alt sells its items in Jita and contracts to Push Industries to haul items to the traders in Dodixie / Hek / Amarr / Rens to sell.

I have a list of 59 items i focus on to sell, currently selling 27 of them in Jita and 40 in Dodixie, Hek, Amarr and Rens - though perhaps less now in Amarr given competition has increased.  The other items that i watch have too low a profitability.

I own 44 blueprints worth over 1bn ISK, most of which have already comfortably paid for themselves.

This alt may have plateaued at 6 to 8bn ISK sales per month for now.  During the month it made sales of 7.8bn (vs 6.7bn ISK in the prior month) and estimated profits of 3.9bn vs prior month of about 3.3bn ISK.  It currently has 8.3bn of sell orders, up from the prior month of 7.3bn ISK.

My expansion into manufacturing has been a great success so far.  I am now training this alt up to manufacture T2 items and i am in the process of manufacturing my third T2 item - lets see how it goes but so far T2 items are not as profitable for me as the T1 items.

And all this takes is 15 minutes update time a day.

The current near term goals is to find other T1 items to sell as well as expanding into T2 items.

I have seeded a new market in Lonetrek - lets see how that goes.  It is slow at present though April was less than March with Sales of 600m ISK and profits of about 400m ISK.  I am hoping May will be much better though for now i can't think of a reason why that should be.

Outlook: May is going to be busy for me in RL (again!), hence i suspect i will be back to making 7bn ISK per month.

Current Wealth:

Expected business purchases in the next 30 days
  • Plex x1 = 0.7bn 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.


  1. Man, your blog rly helped me out. Thank you.
    I just still cant manage everything in under some some hours =/

    1. one of the beauty of slow moving items is that you don't have to update the sell price often given there is little competition. i estimate that on a given day about 70% of all the items i put up for sale are still the lowest price the following day.

  2. Awhile back you did a total wealth growth chart. I'm curious to see your trends in growth plotted. Is diminishing returns causing you to evaluate any new ventures? To outsource some income generation via non-traditional investments?

    Also, have you looked into trading high value items on contracts as a way to circumvent market taxes? I've always made it a habit to study my buyers and sellers, but I also have a bit more free time than you.

    If I were you, that massive stockpile of idle isk would be sorely tempting me to make either some big gambles, or finance a decadent set of martial enterprises. Perhaps you might look into your own set of Ironforge Mercenaries to gank your competition and shore up the bottom line, or prevent some Jita miners from unionizing.

    1. i have a post in the planning to look over the prior year to see how the returns changed.

      Not yet looked into contracts - will test that market. Thank you for that.

      I tend to need 10bn ISK to finance my business, the rest goes into buying Plex for now. I am not a big gamble sort of the person.

  3. Congratulations for reaching this milestone! 100 bil is quite something. Soon you can go Titan shopping ;)

  4. hi..
    I really enjoy your blog, thank's for taking the time to enlighting us :)
    I'm a new trader/manufacturer, and i try to make my way like you..
    If i can ask? You seems to sell a lot of what you built whit you lonetrek alt, and i wonder what can you make in such quantity whit just one alt and make such profit.
    I don't want you to tell your secret off course, but i'm very curious.. Personnaly, i make T2 stuff, and not so much (i don't find so often tech 2 blueprint in good price, and i plan to make my own pos whit lab and stuff). I had always think t1 stuff not worth it.. It seems i was wrong..

    1. I focus on the low volume / high margin T1 items. Whilst i sell these items in Jita / Amarr / Dodixie / Hek / Rens it is very rare that on any given night i need to use more of my 11 manufacturing slots. When i post outside of Jita in the other 4 trade hubs there are only normally 2 or 3 competitors.

      If an items typically sells 1 a day or 1 every 3 days that is ideal for me - the 0.01 undercutters don't bother with that sort of a market.