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Monday 23 October 2023

Month end update - August / September 2023

Busy times, i was away for half of September.

Profits after everything including Plex

In August my profits were 39bn isk and in September my profits were also 39bn isk, after paying 8.2bn in each month to upgrade to Omega for another 30 days for four accounts.

August was a typical slow summer month where as September i was only around for half of it.

That said, October is proving to be a slow month which is surprising me.

Distributions made

From those profits i distributed a total of 55bn isk to the Oz Tank Show, making my total distributions made or due to the Oz Tank Show to 98bn isk.

At the start of October, i distributed or promised a further 77bn isk.

My aim is to distribute all the profits i make.

So, to put this in context in July onwards i have made profits of 132bn isk and distributed 98bn isk.  Then add in the 77bn distributed in October.

Total Wealth

Therefore, at the end of September my total wealth was 1.16 trillion isk.

What i am selling

Same as usual - Implants, Blueprints, ship equipment.

There is a competitor for the Blueprints in a few of my trading locations now.  Updating their prices daily.  Will be a battle of attrition.

Current Wealth

Current wealth is 1.16 trillion ISK made up from:
  • Plex held as an investment 0bn ISK
  • Items in hanger for sale 26bn ISK
  • Items in hanger for use in business 11bn ISK
  • Omega brought forward 8bn ISK
  • Buy orders on the market 51bn ISK
  • items for sale 1.2 trillion ISK
  • less a 20% provision 238bn ISK*
  • ISK in wallet 128bn ISK from which 20bn of Oz Tank distributions need to be taken off

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 or are used to generate isk that can be readily resold back onto the market.  Any ships or skills or fittings etc i buy are counted as expenses in that month.  The only exception to this rule is Blueprint Originals i use for manufacturing.  They are held at cost.

* 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.

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