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Thursday, 25 March 2021

Stepping into empty markets

As my wealth increases and as i stick to regional trading (buying from Sell orders in Jita to put up for sale in Dodixie / Amarr) i need to find new items to sell.

That can get quite hard.

My criteria remains that i want to achieve 25% profit margins on items i sell (i.e. if i buy for 100m in Jita, i need to sell in Dodixie for 133m isk).  To do this i focus on items that have very limited competition and so sell in very low volume.  This keeps the time required to update orders to a minimum.

One source of new ideas i am finding quite lucrative is where i focus on items that have not been sold in Dodixie or Amarr for many months.

Typically they tend to be more highly priced, so over 300m isk and in regions where they do well the volumes are very low anyway.  That makes sense - the chances are that it was only one player selling the item historically who has moved on and the buyers have merely found an alternative item to satisfy their needs.

Alternatively, they may also be items more lowly priced that may be more normally manufactured in Low or Null sec.

But also, i suspect, with markets operating at lower levels than historically then i believe trading in many items has merely consolidated back to Jita.  This suggests to me that re-starting those markets in Dodixie or Amarr should be quite a good idea.

This is where i step in.

The risks are clear - i may end up trying to sell an item where there really is no demand.  And so after 90 days the item will just fall back into my hanger.

The good news in this case is that i will only have spent the Broker Listing fee of 3.5% (my characters are now all Level 5 Broker Relations).  Ultimately, if it fails to sell i can courier it back to Jita and try and sell there to limit my losses.

But, with a fair wind, i will unlock new markets and the buyers will come back.

So far, this is working well.  I only have a few items that look like they may go the full 90 days but the rest are finding a buyer after a while.  And that is fine with me.

I have about 75bn isk worth of items for sale and i aim to sell 2.5bn isk a day to achieve the 10bn monthly income after renewing my omega account with Plex each month.  So, i only need 3.3% of my items to sell each day.  i.e. 1 in 30.

Therefore, stepping into these empty markets seems to me a sensible place to go.

I don't go over board, i list one item only in each market and i don't try and make a ludicrous profit - i stick to the 25% target margin.

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