Eve Market – Update After 667 days

September 10th, 2016 | Posted in Eve Market | Comments Off on Eve Market – Update After 667 days

I had intended to resume doing these updates on a weekly basis like I had been doing originally however after the previous update I found business to be extremely slow.

It was so slow that I took some time to explore eve-offline.net and found that these days there are FAR fewer players on at any given time than there were back when I started this project. Back then weekends would easily see 35,000 to 45,000 players on at once.

Looking through the history data avaliable on eve offline you can see a definite trend to fewer players active at any given time than there were a year ago. Perhaps this is why CCP has decided to do the F2P thing with alpha clones . . . they’re trying to boost activity in hopes that players will become more invested in events and pay to upgrade that alpha clone to a regular one.

At the time of the last report I had just put up some 1.2 billion in sell orders for items that, after careful research, I had deemed to be good prospects for being able to sell them at a good profit in a reasonable time.

Exactly ONE of those items has sold. The rest have been undercut to the point of not being profitable at all. I’m not complaing about price undercutting, that’s expected. However the undercuts have been so fast that it reminded me of back when I tried to do station trading in Jita.

I update prices in the mornings and when I have time, I’ll sometimes check in during the evenings. Looking at the expiration dates for competing sell orders that have undercut mine I see that they were updated within minutes of mine having been updated. And this in a station that seldom has more than 150 people docked at a time

At first the undercuts were quite reasonable, ranging from 0.01 to a few thousand at a time. Then it seems that sellers became desperate to unload their items because they started undercutting by 10,000, 100,000 at a time. Very quickly this progressed to items dropping in price by 10 million or more at once.

It didn’t take long for prices to reach a point where I would be selling at a loss if I attempted to beat the undercuts. As of two weeks ago I stopped updating prices of all 11 of my remaining sell orders because my prices are already low enough that if they sell at current listed value I will make no more than about 2.5% profit at best. As it is, the massive price undercuts have resulted in an overall loss of over 45 million in total wealth.

After doing a lot of reading and the above mentioned research I’ve come to the conclusion that because of the huge drop in the number of active players there is just not enough business to go around, making it a “buyer’s market”.

Therefore I’ve decided to put this region trading project on hold. I’ll occasionally check the numbers of players online and when the average climbs back up to a decent level I’ll consider giving it another go.

In the meantime I’ve reverse redeemed a Plex to use for eventual reactivation and allowed my account to once again go dormant.

Original starting wallet: 4,816,362.72

Currently Using 11 of 339 total max orders**

wealth = 2,000,895,259.61

A loss of 45,697,921.15 over the last 30 days

seller1: 31,721,082.85
Buyer: 10,057,186
3rd alt: 0
corp: 1,018,037,096.36

+ Items in transit: 0
+ items in hangar waiting to be listed: 0
+ Current Sell orders value: 1,176,349,868
– buffer value*: 235,269,973.60

+ Items in transit: 0
+ items in hangar waiting to be listed: 16,720,000
+ Current Sell orders value: 1,213,614,457
– buffer value*: 242,722,891.40

*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 when sorted by lowest price first.

** “total max orders” is the combined maximum number of active orders of all participating alts, even if they are not actively selling at the time.

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