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.
The 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)