From Rags to Riches #3 - Making Headway

It's been just over three weeks since I began this project, and I have continued to make progress. My goal has been (and still remains) station trading in Dodixie until I gather enough capital to begin importing goods from Jita to Dodixie. My last update, I had a total wealth of 447,286 ISK; I have flipped that money into a total current wealth of 12,423,204 ISK, which is an increase of 2,777.46%.

I have mostly been flipping T1 meta modules and ammunition with a low buy price, relatively small volume, and a large margin. For example, 50MN Quad LiF Restrained Microwarpdrives currently have a buy price of 2,200.05 ISK and a sell price of 22,999.99 ISK. Most of the modules that are similar to this often drop as loot from missions, and there are a number of mission-runners who commonly aggregate their loot at Dodixie. Because of the low buy price, I was able to put up fairly high volumes and take advantage of mission runners auto-selling their loot to buy orders, then turn them around at a 90%+ margin. The low investment also meant that it wasn't a huge loss if the item didn't move as much as I thought it would, which I encountered a few times (particularly with lesser-used ammunition, like Nova and Mjolnir Light Missiles.)

So far, the three items I've made the most profit off of are Faint Scoped Warp Disruptors, Medium Energy Turret skillbooks, and Energy Pulse Weapons skillbooks. The two latter skillbooks had very low volume, but ridiculous margin (99.83% and 98.48%, resulting in a profit-per-item of 598,988.70 ISK and 974,695.79 ISK respectively). The Faint Scoped Warp Disruptors have been a pleasant surprise, as they move relatively quickly while still retaining a decent margin. So far, I've sold 63 of them at a profit of 24,570.97 ISK, resulting in a total of 1,547,971.34 ISK of profit at a margin of 79.47%. The profits from trading this single item make up 12.93% of my total wealth at the moment, which is large considering I've traded a total of 35 different items.

The good news is that I've only lost money on two different trades - Combat Scanner Probes Is and Scourge Light Missiles. I lost .30 ISK on the probes, and 5,078.67 ISK on the missiles - a measly 0.04% of my total current wealth. Given that these are both relatively popular, high-volume items, it's not surprising that their prices were volatile enough that I lost money on them; however, the amount I lost is such a small amount that I've not lost any sleep over it.

Now that I have a decent amount of capital to work with, I am beginning to transition to T2 modules with decent margins (such as Drone Damage Amplifier IIs and Warp Disruptor/Scrambler IIs). These items tend to move much quicker, so although the margins and profits aren't as good on a per-item basis, I'm making more profit on a daily basis because I don't have to wait for buy orders as long. As I gain more money and venture into more risky trades, it's likely that I'll be writing more in the near future. Stay tuned!

Current Wealth: 12,423,204 ISK

Evernus Balance Graph:

Comments