Progress after 3 days

so, after 3 days trading my current wealth is 120m ISK (details at the bottom of this post).


A word on how i look at my wealth

If i had my way, i would disclose my wealth as ISK + the cost of items bought for resale.

However, i cant efficiently determine the latter and so i must use the value of my Sell Orders.  That is prone to a few problems, not least of which is i am likely to have to reduce the prices of a number of them before they are finally sold due to bits and pieces of competition.

So, to counter these future price reductions i take a 20% provision against my Sell Orders and so my wealth is ISK + Value of Sell Orders - 20% provision.


Alpha / Omega State

At best, Alpha will only allow me to get to 17 Sell + Buy orders per character.  And i got there by the end of Saturday.

Now, i could use alts to post additional sales - but that would require tedious logging on and off.

I could also set up a second account - which i did - but CCP have thought this through and i can't have both accounts logged on at the same time (darn!).

So, i bit the bullet and took advantage of the 50% offer of 1 month paid game time for my main character account.  £4.49 right there.  That would not even get you half a pint of beer in London.  But, to be safe, i will not have a pint next week.  Not one.


Anyway, onto a run down of my first 3 days

Right off the bat, i have to say it was a weekend, so sales are much better than normal.

Stuck to blueprints and a few skill books.  I am dropping the skill books for now until i get my head around what the coming patch means for them - thanks Aurra Jol for the heads up.

I am buying at Jita for 600k to 5m an item and selling in Dodixie for 100% and more profit.  The competition is very low and sleepy.  At the end of the day, the big traders don't bother with these items - they are too low ticket and won't move their dials.  So, i remain under their radar.  But i am on a mission so i am probably keener than the current competition.  With luck, i will be out of their hair soon.

Sales came in fits and starts, but when they did start they were strong.  Often i would log in to see a few million ISK in my wallet that needed to be reinvested.

By the end of Sunday, i had 23 Sell orders ready to face the Monday crowd.  For now, i can post a maximum of 33 Sell orders (Trade Skill 3 + Retail Skill 2).

They key to all this is to minimise the ISK i have in my wallet - i won't grow whilst sitting there, it needs to be in the form of Sell orders on the market.

So, for now, my routine is - very similar to 6 years ago:

• I log in;
• update my remaining orders to the lowest price;
• note the new selling prices of the items that I have sold - I intend to buy these items from Jita to resell at Dodixie;
• perhaps update my search for new items to sell, mainly blueprints, using EveMarketer (that is a really useful site);
• fly to Jita (on auto-pilot, so I can be doing other things like reports etc for work);
• buy new items to sell - I try and reinvest all my ISK leaving just enough to pay the broker fee to post the sell order at Dodixie;
• fly back to Dodixie (again on auto pilot - no one is going to gank a catalyst carrying a few million ISK in high sec);
• post the orders for sale on the Dodixie market.

Oh, and i did a little mining whilst i worked in at my desk - helps pays the broker fees and requires very little input from me.  That said, paint does dry faster than the ISK this brings in . . . . . . .





Current wealth is 120m ISK made up from:

• items for sale 149m ISK
• less a 20% provision 30m ISK*
• items in storage for sale 0 ISK
• ISK in wallet 1m 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.  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.  In an ideal world I would value my sell orders at the value which I bought the items for.