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Monday 5 June 2023

I sold all my Plex - will buy back later

CCP are becoming more aggressive in their deals.  It all really kicked off last September when there was a material discount on the amount of Plex required to buy Omega.

The ingame store (New Eden Store) is offering a 2-for-1 sale on Skill Extractors and Daily Alpha Injectors.

I am not sure when it ends.

CCP deals to buy cheap items for Plex always drives the price of Plex Higher

The effect in both cases is that the demand for Plex goes up as players pile in to buy the Plex to then buy the cheaper Omega or, in todays case, the cheaper Skill Extractors.

And then the Price of Plex will fall back

Once the deal is over the surplus demand for Plex falls away and so the Plex price comes back to where it was before.

Where to find the analysis of this all

Oz Eve, one of the go to people for analysis of what is happening on Eve Markets talked about it in his weekly Twitch Stream on Saturday (he likes to call it Plexageddon), starts talking about it16 minutes in, and has a dedicated youtube report The Oz Report which talks about all this about 1:45 in.

The effect this time is to reduce the price Skill Extractors (as expected) by 40% and increase the price of Plex by 25-30%.

i.e. Skill Extractors would halve but we need to rebase this upwards given the rise in Plex Price.

The Trade to do every time is the same

For me it is simple, i sell all my Plex and then buy it back later.

I had 4500 Plex which i sold at 5.6m isk.

This stock pile had cost on average 4.4m per Plex.  So that is a nice 27% profit before taking off the 3.6% Sales Tax.

In the next week or so i will rebuild my stock pile at a lower price.

Technically, it was still possible to make an additional profit by converting your Plex to Skill Extractors and selling the Skill Extractors.  But i am a simple man and want to keep all things simple.

Will the Plex price fall back?

It should do.  The main risk is if players now come to expect these deals to happen every 3 months then there will be a stronger than normal rebuild of Plex in inventory.

The events in January and April recovered quickly.

Will the Skill Extractor price recover?

Again, it should do though may take longer.  Plex can be used for more actions where as Skill Extractors can only be used for one thing.

That said, stocking up on Skill Extractors to sell back later is not a bad idea.

A key secondary reason to hold Plex

These more aggressive deals means that for market operators there is an additional reason to hold Plex.  Every 3-6 months an opportunity will present itself to trade in your surplus Plex to make a nice instant profit.

As i write this article, the Buy Price for Plex in Jita is 5.7m isk.

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