Wealth over 1 billion isk

so, after 14 days trading my current wealth is 1.2bn ISK (details at the bottom of this post).

The weekend was good but could have been better, i was away for much of it.


The strategy stays the same

I buy from Sell Orders in Jita and put these items up as Sell Orders in Dodixie.

I focus on low selling volume items - so there is much less competition and the profit margins are therefore much higher.  Easily starting at 20% (i.e. i buy an item from Jita Sell Order for 30m and sell it for over 36m).

The reason this works is that players will not make the 15 jump journey from Dodixie to Jita to save ISK unless the Dodixie price is ridiculous.  Even if they are fully aware of the ISK they can save.  If they want the item now then they will pay the going price.


Alt in Jita

To help my business along i have started an Alt in Jita.  Minimal trade skills: Trade 2, Contracting 1 and Broker Relations 1.  Only took about an hour to get these all done.  The contracting was required to operate more than one contract (see next section).

The sole purpose of this alt for now is to buy items in Jita and then have them couriered to Dodixie.  Therefore, i no longer have to travel to and from Jita.


Contracting

When i log in i often find i have over 100m ISK in my wallet.

Therefore, i now courier contract all the items i buy from Jita in batches of over 100m.  The days of me travelling 15 jumps to Jita and 15 jumps back to Dodixie are over.

And, might as well let someone who knows what they are doing transport the items.

I offer 5m isk reward and set the contract to the fastest time (1 day to accept +1 day to deliver).  Normally, it takes a few hours from setting up the contract to delivery at Dodixie.


Corporation

To reduce the number of clicks required to set up contracts and take delivery of the items i have set up a corporation and put my characters in it.

Therefore, all contracts are done on behalf of the corporation and so when items are delivered to Dodixie they go into the corporation delivery hanger when my Dodixie player can access.

the procedure here is:

1) all funds over 1m isk are in the corporation wallet
2) Alt in Jita buys items using corporation funds.  These items therefore go into the corporation deliveries hanger
3) the Jita Alt sets up a courier contract on behalf of the corporation to take these items to Jita.
4) on completion of the courier contract, these items go into the corporation deliveries hanger in Dodixie
5) the Dodixie character takes them into his own hanger and posts them for sale (again, on behalf of the corporation)

The alternative would be to somehow transfer the items from my Jita alt to my Dodixie character and then set up a courier contract.



Moving to new items to sell

When i had 10m isk, buying missile blueprints from Jita for 600k isk and selling them in Dodixie for 3m isk was a great money maket.

Today, with 1.4bn isk of sell orders in Dodixie that sort of thing does not move the dials.

Hence, i am selling boosters and implants for now instead, and still a few higher priced blueprints.  The profit margins are lower but the isk profit is higher.

In all, i have 40 items up for sale in Dodixie out of a maximum of 53.

The golden rule remains to make sure as much of my ISK is invested in the market.


Current wealth is 1.2bn ISK made up from:

• items for sale 1.4bn ISK
• less a 20% provision 0.3bn ISK*
• items in storage for sale 0 ISK
• ISK in wallet 0.1bn 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.