Using The Market
Part of a series on
Investments and Marketing
How to use the market and not screw yourself over
Ok folks, some of you apparently don't know how to use the market or screw yourself and others over. First, some of the basics of the market. Each item on the market can have a buy order and a sell order. Take Isogen for instance, there might be a buy order for 125isk/unit and a sell order for 200isk/unit at station range. There is always this discrepancy at station range because buy orders that are higher then the lowest sell order in the same range gets filled automatically and vice versa. I was just talking about range, it is possible to have a buy order higher then the lowest sell order if the ranges are different, i.e different station or different system. this is where a trader can come in and profit off that discrepancy.
NEVER BUY FROM THE GROUPS TAB
- The groups tab sometimes shows prices that aren't actually the lowest.
- With the groups tab you might be buying something 15 jumps away. Great.
Go to Details, and you can sort by jumps away, quantity, price, anything you want.
- Jumps: How far from your current location the buy/sell order was placed
- Quantity: Number of units in the buy/sell order
- Price: Amount of isk per unit for the order
- Location: Where the units are being sold/bought from
- Range: This is how far away the buyer is willing to travel to pick up the goods
- Min Volume: This is the minimum number of units to be purchased
- Expires In: How long until the units are returned to you (sellers), or the order is retracted (buyers)
Using the "Price History" Tab
Pretty self explanatory if you know what the meanings of mean and median are (You passed Grade school math right :P). The only mystery is the donchian channel. The donchian channel shows the max price and min price that item was bought at in the current region on that day. Not very useful because some nut will sell something at a stupid price and somebody else will get ripped off (or scammed).
Pressing the table button on the bottom left will show you some exact numbers if you're interested in that.
Go to the market, select an item, near the middle of the market screen there is a "buy order" button. Click it. Once the buy screen loads, click "advanced" unless you want an automatic buy (if available). Put in buying price and buying quantity (don't confuse the two). Click ok, voilà buy order is up.
You can check your buy orders by going to your wallet and clicking the orders tab.
When setting up a buy order, you pay the total price of what you would buy plus a 1% Broker's fee
If you cancel a buy order, you get the money back.
Right click item you're selling, "sell" but click advanced once the box loads otherwise you'll sell to whatever buy order is up. Put in price.
If you don't want to sell off the whole stack, hold shift and drag the item to split up the stack.
You pay a 1% Broker's fee up front and a 1% transaction tax for each item when it is sold.
Finding a Market Niche
You're not a producer.
You hate mining.
You can't rat.
You can't run missions or hate them, too.
So how can you make money to buy your next PvP toy?
The fact is that Delve is paved with healthy truesec and thus full of wealthy people. These people need goods from a market that isn't always perfect means it's a great place to carve out your own retail empire.
- Named / T2 Weapons
- Not all Named/T2 weapons are actually in demand. People generally only want 1 or 2 guns per category, meaning some guns will not sell.
- Some T2 modules are actually cheaper in Delve than in Empire
- Other Named / T2 Modules
- Essential modules (! Some producers are sleeping on the job !)
Essential Space Jew Skills
A good skill to have is Trade. Each level grants you 4 extra slots on the market. That's 12 extra slots at level 3, and that level isn't out of the question. Having a total of at least 17 slots means you no longer have to sell items that run 1m ISK or higher because you don't want to "waste" one of your 5 default slots.
However, after training Trade skill to 2, if you want even more order slots, train the Retail skill for +8 slots per level.
With the added slots you can now have a steady flow of income by selling low and mid priced items such as Warp Scrams or 400mm Plates that you've looted. In demand items sell quickly so who cares if it's only 50k or 150k, it's easy money that will keep rolling in as long as you keep seeding the market.
Please note that some items might refine better than the price you'd get. Do a little research and check to see what kinds of minerals might come out of Refining.
If you want to jew from afar or squeeze out a little more money, the following skills would be helpful. Keep in mind that trade skills are pretty pricey and might not be worth it.
- Marketing — Remotely sell goods.
- Procurement — Remotely place buy orders.
- Daytrading — Remotely modify buy or sell orders.
- Accounting — Reduces transaction tax on all sales by 10% per level (Only the seller pays the base 1% tax in any case).
- Broker Relations — Reduces the broker fee charged for setting up a buy or sell order by 5% per level.
- Margin Trading — Reduces the amount you must put into escrow when setting up a buy order by 25% per level.