I’ve said before that I wish I could make money in real life as good as I can in games. Here’s a good example of why.
Even though I’ve had a few days during which I wasn’t able to keep my sell orders updated as well as I’d like, I’ve still been making a consistent profit.
Each time I head off to buy new stuff the shopping list starts with items that have sold out and has at least a few more items on it than before because I’m continuing product research.
Trade 5 has finished training and now I’m working on Broker Relations 4 and 5 which will further reduce the broker fees that I have to pay on every sell order.
The only difficult or perhaps I should say “Challenging” part is finding enough things to buy so that as much of my ISK as possible is re-invested in new products. This is in spite of the fact that each time I head off to buy more stuff, I’ve got more ISK to work with. Even things that I honestly had some doubt about have been selling quite well. For example one item that I paid 9 million for that sold a few days later for over 32 million.
I cannot help think just how cool it would be if I could make money this easily in real life.
On my last buying trip I found myself with items in my hold that represent nearly 80 million of the current sell order value. This means that it’s time to look into using some form of courier contracts to have things moved. I just know that if I don’t I’ll end up getting ganked and taking a huge loss.
It’s much better to have a contract where If for any reason the payload is not delivered, I’ll get paid collateral which I will be certain to set at the expected selling value of the cargo.
When my wealth reaches the point where my wallet balance is consistently high enough to buy PLEX then I’m going to start a second market alt and activate multiple character training.
Testiclees will then resume the plan that I had for him before this project came along and put everything else on hold.
My starting wallet 7 days ago: 4,816,362.72
using 34 of 41 max orders
wallet: + 709,294.39
Sell Order value: + 121,554,804
buffer: – 24,310,960.80
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.
Having gotten a good start on the surface (and stolen Jevin and Hypno’s food!), Xisuma and I head underground to start mining resources and get ready to head into the nether.
I’m feeling a lot better except for the Gurgle that’s keeping me very close to the throne. Meanwhile my Eve Marketing adveture continues. I only wish I could generate money this fast in real life because I’m really needing it big time right now.
Something I didn’t mention in the video, “Gurgle” sounds like a good title for a horror movie.
If my ramblings about the Eve Market interest you. you’ll be interested in “Starting The Quest For Ten Billion” and then “First Market Weekend“, the first two postings in the all new “Eve Market” category.
In the process of getting an ender quarry set up, I once again ran into my shortage of blaze rods. Fortunately Spumwack helped me out and saved me the royal effing P.I.T.A. of spending two hours hunting down Blaze Rods in the nether
Through the week things have progressed nicely. Things have been selling at what I think is probably a decent rate. Thus far I’ve managed to keep my profit margins above 17% on all but one item. That item ended up selling at a -23.24% loss.
In fact the margins on most of the items I’ve sold thus far range from the lowest at 17% to the highest at 89% with the average being close to 50%. Hopefully I can continue keeping the profit margins that high for most items. That will more than make up for the occasional “dud” that ends up either not selling or going for a loss.
I suspect that the item going for a loss could have been prevented by simply deciding to stop updating the price on it and just wait for the competing orders to sell instead. Next time I see a situation like that developing that’s what I’m going to do. Stop trying to beat a competitor who is that determined to sell. Instead just let them sell so that their orders will get out of the way of mine. Alternatively, if they drive the price low enough and I have the isk, I could just buy them out and be done with them that way.
I spent a couple of hours today (it’s late Friday night as I write this) researching new items to buy and re-sell so that I can have as many sell orders ready for the weekend as possible. I’ve read that weekend sales are much more active and this makes sense because there’s normally a lot more people on during the weekend.
My list of items is now up to 21 and should grow to 30 or more as I continue researching tomorrow.
For my skill training I started with the usual set that you’d expect from a new player finishing up with the career agents. I’ve got Social at 5 because I paused the career missions long enough to do that so that I’d get the maximum standing and isk from the career agent. This was before I realized that the standings boost reduces the taxes and broker fees you pay.
The first trade related training was to bring Trade up to 3, then Retail 2, Broker Relations 3, and Contracting 1 (I don’t expect to need more than 5 open contracts at a time for quite a while)
Currently I’m training Trade 5, When that’s done in two days I’ll train Broker Relations to 5 followed by Retail 5
Somewhere along the way I think that I should train Corporation Management to at least one so that I can start a corp. The reasoning is that once this character has finished the skills he’ll need I’m going to start another market alt, placing that one in the buying station. He’ll then be able to use the corporate wallet to handle buying and then the corp can set up a contract to haul everything to the selling station. At this point either character undocking will be a rare occurrence.
using 21 of 37 max orders
Wallet 2,377,486.46 ISK
Sell order value: 45,107,516
I’m including a 20 percent buffer value (applied against 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.