Eve Market – Update After 48 days

October 29th, 2014 | Posted in Eve Market | No Comments

Once again a number of factors have kept me from completing and posting this update on Monday as I prefer. I did get the financial report part at the bottom compiled on Monday evening but then had to deal with other things and this is the first I’ve gotten back to it.

In my skill training Wholesale 4 has completed which raises the maximum number of market orders I can have open at once to 129. When Wholesale 5 is completed in about 16 days that number will rise to 145. With Accounting at level 5 my sales tax is down to 0.75% of sales value and Broker Relations 5 has my broker fees at 0.75% of order value. My big challenge in this now is going to be finding enough things to trade to actually use most, if not all, of those orders.

During the previous week I’ve been spending as much time as I could spare doing the market research needed to find items to add to my master shopping list of things that I’m buying in one region and selling at a profit in another.

Tinfoil Chef of Eve OnlineThe master shopping list is now up to 58 items. You’ll note that below it shows that at the time I compiled the report I had only 45 sell orders active. This is because not all items on the master list are always available at acceptable prices (though usually they are or they wouldn’t be on the list).

There is also the fact that while I am keeping some inventory I am making it a point to limit how many of each item I carry a stock of. There are a few that I’ll order three at a time, a few more that I’ll order two of at once and the rest of the list is items that I’ll only buy one of at a time because they don’t sell as frequently as the other items. Thus when one of those items (the majority of my list) sells, I have to wait for another unit to be ordered and shipped before I can put up a fresh sell order for that item.

On most days I have my buyer make a single purchase. When there’s time and sales warrant it I have done as many as four shopping runs in one day, though this is the exception rather than the rule.

In my search for new items to trade I have started looking for things with a higher purchase price which will also have a considerably higher profit per unit sold.

My goal is to keep as much of my Isk invested at all times as possible. I keep about six million in my personal wallet to cover broker fees and taxes, with the rest being transferred to the corporate wallet. The buyer then uses the corp wallet to make purchases and set up the courier contracts.

Currently the corporate wallet stays at around 60 million, the balance going up as I deposit money from sales until the buyer does another shopping run and spends it back down most of the way.

I’m going to continue doing as much market research as I can find time for however it’s a slow process, frequently I’ll find things that look like they are great deals yet, when I check closer I find that they fail to fit one or more of my requirements.

Thus in an hour of searching I might only find one item to add to the master shopping list. There have been plenty of times when the results aren’t even that good. I have very tight requirements for adding something to my master list and it must meet ALL of those requirements because I don’t want to find myself stuck with something that I cannot sell at a profit.

This week I’ll be paying off the last payment of that Ill advised “small business loan” and then my wealth reports will much more accurately reflect what I’ve earned since I started this adventure in marketing.

I have to say that at the very least, this has been some of the most fun I’ve had in a game in a LONG time.

Don’t get me wrong. I very much enjoy vanilla and modded Minecraft, Kerbal Space program, Skyrim, and world of Warcraft but In real life I’m a poor man who grew up poor and even though it’s only virtual money in a game, there’s nothing that feels so great as making lots of money.

(report compiled Monday, Oct 27th)
starting wallet 48 days ago: 4,816,362.72

Currently Using 45 of 129 max orders

wealth= 412,598,174.07, an increase of 164,822,289.35 over the past 7 days

Corp Wallet: 60,504,210.85

+ Items in transit: 32,133,628.98
+ items in hangar waiting to be sold: 147,469,067.24
+ Current Sell orders value: 282,491,267
– buffer value*: 56,498,253.40

sub total: 522,598,174.07

– Loan** Balance: 110,000,000

*I’m including a 20 percent “buffer value” (subtracted from the total sell orders value) as the amount by which I’m prepared to lower prices in order to stay on top of the list.

** a “small business loan” of 1 billion Isk + 10% interest to be repaid to Testiclees Aldent
(see this post for details of the loan)

Totally Shameless Plug: why settle for a 14 day free trial of EvE Online when you can click this link for a **21 day** free trial?


Eve Market Scam of the week

October 24th, 2014 | Posted in Eve Market | No Comments

I was reading local chat (as in “you know you’re bored when . . .) in a major trade hub to pass the time when some enterprising individual posted this little gem:

Zor’s Custom Navigation Hyper-Link On Sale!

The item name was a link to a contract. Out of sheer morbid curiosity I clicked the link to see the details of the contract.


On the surface it looked legitimate enough. The buyer would pay 30 million Isk and they would recieve one Zor’s Custom Navigation Hyper-Link implant.

However it’s a scam. I clicked on the information link for that item and then clicked “view market details”. I found that in Sinq Laison it’s selling price ranges from 1,400 to 74,000 Isk each.


If it doesn’t show up in your regional market you can also check it out on Eve Central. In this case even at it’s highest known price you could easily buy several thousand of them for 35 million.

Always check the details yourself. It only takes a few seconds and can save you from being ripped off. Remember the old saying: “If it sounds too good to be true, it probably is.” This is especially on the Eve Market. Similarly, any offers posted in local chat in a trade hub are probably scams, even if they look legitimate. Especially if they look legitimate.

Professional Crastination (YTO3 7-357)

October 22nd, 2014 | Posted in Vlog | No Comments

I thought I’d have a little fun with words today. I may be doing more of this in the future because words can be a lot of fun depending on how you look at them.

This Is Not Joey’s Big Break

October 22nd, 2014 | Posted in Nutjob Hills | No Comments

Joey is a decent kid. He gets great grades in school, deliver’s papers (always on time and never into a puddle in the yard I’m told) and holds down a part time job on the weekends.

He’s got this dream. He wants to get into professional music in the worst way. Then recently the worst way made him an offer he’s having a really hard time refusing.

You see Yoga guy is at it again. While many in town thought he’d be leaving soon (and indeed it seems there is a real chance he might) he’s still doing his thing with the four AM “concerts” that feature horrible music played way too loud while he does his excercises in his front yard.

The deal he offered Joey is similar to what he’s offered many others in the past. He’d get Joey a brand new yamaha ypg 235 electronic grand piano and all the various bells and whistles that go with it if Joey would agree to perform at his “concerts” for a month.

Joey knows about yoga guy and what having anything to do with him can do to a person’s hopes for any kind of musical career. Yet the offer is tempting in the worst way. You see he’s been wanting that exact instrument for quite a while.

He’s read all the details about it many times and is about as close to being an expert on this portable grand piano as anyone could be and not own one already.

I think though that in the end Joey’s going to make the right choice. He’s had to make a few hard choices before and every time he’s made the right one. I doubt he’s ready to kill his music career before it even gets a chance to start.

Eve Market – When Are Large Price Undercuts Are A Good Idea?

October 22nd, 2014 | Posted in Eve Market | No Comments

The short answer to the question in the title of this post is “Never”.

Here’s the long answer:

If you’re selling something like ammunition or other items that have a low profit margin which is made up for by large sales volume then it’s obvious that undercutting your competition by large amounts is going to very rapidly eat into your profits until finally you will find yourself selling whatever it is for less than what it cost you to buy or manufacture it.

Tinfoil Chef of Eve OnlineBased on my casual observation of market prices of high sales volume item prices over the course of several weeks I would say that most people seem to get this when dealing with these items. They know that the profit margin is small and they only undercut competition by 0.01 Isk, thus preserving as much of their profit as possible.

The same cannot be said for many of the people who are selling things that have a low sales volume.

For example as of Sunday afternoon (Oct 19,2014) Eve Central shows that the Capital Shield Emitter can be bought for 8 million at Charra VII – Moon 19. The current sell price at Dodixie IX Moon 20 is 11,799,998.99.

On the surface it looks like it would be a good idea to buy several of them and haul them to Dodixie and make a tidy 3.7 million Isk profit each.

The fly in that ointment however is the fact that while there are sell orders in Dodixie for that much, they are not actually selling. The price history tab on the market browser shows the number of orders, the quantity (actual number of units sold), and the high, low and average prices for each day going back six months.

Here’s the entry for the last time a Capital Shield Emitter sold in Dodixie:


You can see from this that trying to sell these in that station is going to be a waste of time. For that matter, since the market browser shows information for the entire region, you can see that there is no point trying to sell this item anywhere in Sinq Laison and if it does sell, the regional average price is 7.4 million which would be a loss if you bought at 8 million.

Nevertheless, I’ve seen people trying to sell things that, according to market history, only sell a few units every week or two.

Frequently when their item doesn’t sell after a few days it seems they get the idea that a large price reduction will attract buyers and thus they start making huge undercuts. First they cut 10,000 off the price, then 50,000, then 100K, then 500K. A day or two later their price is down several million.

It’s obvious to me that these people never bothered to look at the price history for the item they want to sell. If they had they would have seen that no matter how low the price goes, that item is NOT going to sell any faster.

I have watched a number of sell orders, many of them competing with my own, have their prices cut so deeply that they end up listed for a million or more less than what *I* paid for the item and I assure you that I’m a careful shopper, when I buy something I’m getting it at the best price available anywhere.

The difference here is that I *DID* look at the price history. I *KNOW* that these are low sales volume items. In fact that is one of the reasons I chose to sell those items.

When I undercut a competitor, I *NEVER* undercut by more than one cent. All I want is for my order to be on the top of the list when it’s sorted by lowest price at the top. Any cuts larger than that simply eat profits needlessly.

You see, I’ve figured something out about these low volume items. The people who buy them could easily get a better price by flying off to Jita but they don’t.

This is because they only buy these items when they actually need to use them and they don’t want to take 15 to 30 minutes to fly to Jita, buy the item(s), and then take another 15 to 30 minutes to fly back. They want convenience. They want the item NOW and while I’m sure they want the best price they can get, they don’t care about price nearly so much as they do about getting it quickly.

This is why so many low sales volume items can sell for the high markups that they do as long as you understand they will not sell quickly and are willing to exercise patience and restraint in your undercutting. If you get impatient and start cutting your price by large amounts, you’re only hurting your own profit margin.

Not only that but it’s very possible. even likely, that one of your more patient competitors will wait until you cut the price below their cost, buy it from you, and re-list it at the “right” price.

They’ll do this because they know that you’re selling the item at a loss and will likely not try to compete with it again because you lost money this time.

Disclaimer: While I do deal in many low sales volume items I have not at any time bought or sold Capital Shield Emitters, I picked that item purely as an example.

Another Salesman That Won’t Quit

October 22nd, 2014 | Posted in Nutjob Hills | No Comments

I have to say that one of the things I like about living in a small town out in the butt end of rural Arkansas is that salesmen doing the door to door thing are extremely rare. However there are sadly exceptions to this rule.

The first thing is that Nutjob Hills is perhaps the only place I’ve ever heard of where not only do salemen still do the door to door thing, many of them choose to do so at four A.M.

Not long ago I was on the way to bed when the banging started at the door. Based on previous experince I knew that if I didn’t answer I’d not get any sleep.

He started in the very second the door began to open. Seeminly without pausing to take a single breath he launched into a sales pitch that expounded upon the wonders of the highly rated Fender T-Bucket acoustic guitar.

He talked aobut it’s new holographic inlay design and the quality maple and mahogany woods used in it’s construction, going into considerable detail about how it’s design made it one of the best sounding instruments of it’s kind anywhere.

I’ll be the first to admit that it sounds like a pretty good deal and if I actually played guitar and he’d not pounded on my door at four A.M. I would even consider getting one.