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Wednesday 9 September 2020

14 days in

After 14 days of Omega (+2 days training missions +2 days as an Alpha), my current wealth is 1.4bn isk.

My wealth consists of 1.6bn isk of Sell Orders in Dodixie less the 20% provision (=300m) and adding cash ready to reinvest into the market of 195m isk.

This seems to be going better than my first two attempts at this stage.  That may either be because i have more experience and/or i suspect the whole working-from-home or working in an almost empty office is allowing players to be online more to purchase items from the market.

Can i Plex the account in the first 30 days?

I will give it my best shot.  The current Omega runs out after 15 more days.  Hence from now on i plan to put aside 100m isk each day to buy Plex.  The hope is that i can generate profits of at least 100m each day and so my capital invested in the market does not fall.

The key aim is to play the game for free by using Plex to finance the account.

The initial aims unchanged

Other than the Plex aim, my current aims with this third foray into Eve Online is to get to a steady state of income from Trading (buying from Sell Orders in Jita and putting these items up for Sale in Dodixie).

I am hoping this can generate 10bn isk per month before Plex costs wiht minimal effort.

At that point, instead of pushing on i want to move into other parts of Eve industry to see what it is all about and if i can make it generate good isk.

The Trading Business Model is taking shape

I stick to high margin products that sell slowly.

Items that sell 1 or 2 per day dont attract the big traders.  They cant benefit from scaling this up.

When i talk about profit margin i refer to margin = profit/sales = (sales - costs)/sales.  i.e. if i buy an item from Jita for 40m and sell it in Dodixie for 50m then my margin is 20% = (50-40)/50

I have set up my own Corporation (General Industry and Commerce Corporation) and i have an alt with no skils other than what is given at the start of the game.

The alt buys items in Jita using Corporation isk and contracts them to be hauled on hehalf of the Corporation to Dodixie.  My main in Dodixie then puts the items in his own hanger and puts them up for sale.  the proceeds are then transfered to the Corporation account.

I suppose i could always just put the items for Sale on behalf of the Corporation but i am always nervous of a mistype depleting my Corporation Wallet.  Same, to be fair for my alt in Jita . . . . so i need to think how to safeguard my Jita buying from a typo.

So, neither of my characters need leave their station.

Dodixie Seller

For now, this is the only seller i have and it is my Main character.

Currently, i have 27 items for sale in Dodixie worth 1.6bn isk.

The skills relevant to Trading that i have are:

Accounting: Level 4; means i am charged 2.80% of the sales price on completed sale vs the normal 5%

Broker Relations: Level 4; means i am charged 3.78% to list an item for sale; and for every price change, whether up or down, i am charged 1.89% of the new  sales price

Trade: Level 4; increases the number of items i can list for sale by 4 per level.  I should be level 5 by tomorrow.

Retail: Level 4; increases the number of items i can list for sale by 8 per level

Marketing: Level 2; this allows me to set up Sell Orders in stations other than the one i am in; i don't use this really

I trained Accounting level 4 which now allows me to train Advanced Broker Relations so that i can reduce the cost of changing the price of items i already have for sale.  For now, i will put that on hold and focus on getting the Plex.  The cost of the skill book is 26m isk.

Given the level 4 Trade and Retail, i am able to post 53 items for sale (5 + (4x4) + (4x8)).  With no Trading skills you can post up to 5 sell orders

I can see myself being busy learning the Trade Skills for at least 2 more months.

I can see myself taking 4 to 6 months in total getting the Dodixie seller up to a steady state before i start to move into other forms of Eve Online business.

Items i am selling

The days of buying blueprints in Jita for 600k and selling them in Dodixie for 2.5m were good at the start but now dont make a difference.

So, at present, i buy items in Jita for 30m to 110m and sell them in Dodixie for margins of over 25%.

Some skill books but also rigs and ship equipment.  Not really selling implants yet.  One or two bluieprints.

i find evemarketer very useful to find new ideas.


September will be my first full month, so lets see how it goes.

Aims for September:

1) Continue to expand the Dodixie trader sell orders and reduce trading costs
2) Plex the account

Current wealth is 1.4bn ISK made up from:
  • items for sale 1.6 ISK
  • less a 20% provision 0.3bn ISK*
  • ISK in wallet 0.2bn ISK

When i add up my wealth, 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.  Any ships or skills or fittings etc i buy are counted as expenses in that month.

* 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.

1 comment:

  1. It will be interesting to see how the markets change as the Triglavian / Edencom invasions continue, making travel more problematic.