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Can someone please help me understand market escrow
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Da Dom
Republic University
Minmatar Republic
#1 - 2013-01-07 08:27:13 UTC
I'm a new player and decided to try the markets for the first time a few days ago. This is my situation...

I wanted too sell 100 destroyers so I made 2 seperate Sell Orders of 50 ships each. Yesterday I check my wallet's journal to find that I have sold 8 million ISK worth of stock (before sales tax) Things are looking good, I assumed.

Today when I checked my wallet's journal, I was shocked to find that several market escrow transactions apparently authorised by me had removed roughly 10 million ISK from my wallet.

I was under the impression that the market escrow allowed me to place ISK into the market to cover a Buy Order (I have no Buy Orders) I have no idea why it would take 125% of my sales profit.

What am I missing?

Because Far-que... That's why.
Emma d'Acques
Doomheim
#2 - 2013-01-07 08:36:12 UTC
Check your skill list, you probably have Margin Trading in there.

If you have Margin Trading trained, you do not get detracted the total amount of the Buy Order when you put it up, but only a percentage.
The rest of the amount is then substracted from your wallet once the purchase is made.

Example without Margin Trading:
You place a Buy Order for an item for 100 ISK.
The moment you place the Buy Order, your 100 ISK is placed in Escrow.
There is no extra ISK taken from your wallet once you purchase the item.

Example with Margin Trading:
Say that through the Margin Trading skill, you only have to place 95% of the amount in Escrow.
If you place the same Buy Order for 100 ISK, only 95 ISK would be placed in Escrow, where the remaining 5 ISK will be taken from your wallet the moment the actual purchase is made.

Using the Margin Trade skill effectively allows you to trade more, with less ISK.
Downside being that, if you don't have enough liquid ISK on hand, the item will not be bought.

I'm not totally useless, I can be used as a bad example.
Da Dom
Republic University
Minmatar Republic
#3 - 2013-01-07 08:52:58 UTC
No, It's not margin trading as I don't have that skill. I did figure out my problem though. Buying somthing directly also shows up as a market escrow transaction as well and I had completely forgotten that I had purchased minerals yesterday. I guess I shouldn't check my books when I'm still half asleep...

Thankyou. You may close this thread now.

Because Far-que... That's why.
PalkAn4ik
The Scope
Gallente Federation
#4 - 2013-01-07 18:35:54 UTC
Not being a troll, but you're miss-reading something. Been there, done that. Sleep on it, look at it again. Try placing one buy order for something that sells fast and watch what happens in your wallet.

I'm sure you just miss-understood/read something. Happens to us all at some point.
Tul Breetai
Impromptu Asset Requisition
#5 - 2013-01-07 18:48:58 UTC
Emma d'Acques wrote:
Check your skill list, you probably have Margin Trading in there.

If you have Margin Trading trained, you do not get detracted the total amount of the Buy Order when you put it up, but only a percentage.
The rest of the amount is then substracted from your wallet once the purchase is made.

Example without Margin Trading:
You place a Buy Order for an item for 100 ISK.
The moment you place the Buy Order, your 100 ISK is placed in Escrow.
There is no extra ISK taken from your wallet once you purchase the item.

Example with Margin Trading:
Say that through the Margin Trading skill, you only have to place 95% of the amount in Escrow.
If you place the same Buy Order for 100 ISK, only 95 ISK would be placed in Escrow, where the remaining 5 ISK will be taken from your wallet the moment the actual purchase is made.

Using the Margin Trade skill effectively allows you to trade more, with less ISK.
Downside being that, if you don't have enough liquid ISK on hand, the item will not be bought.

^ *facepalm*


OP: When you first start, you think you see a lot of weird things, but you'll get the hang of it fairly quickly. Happy trading! (or, if we cross paths, go to hell!)

There's nothing worse than an EVE player, generally considered to be top of the food chain in the MMO world, that cannot smacktalk with wit and coherency.
Alex Grison
Grison Universal
#6 - 2013-01-07 20:09:15 UTC
If only margin trading works in eve like it does IRL.

yes
Candy Oshea
Techfree Investment Group
#7 - 2013-01-07 21:04:52 UTC
Tul Breetai wrote:

....... Happy trading! (or, if we cross paths, go to hell!)


Somes up MD nicely hehe


iCandy  - I have accidently swallowed some Scrabble tiles, my next shit could spell disaster!
Tau Cabalander
Retirement Retreat
Working Stiffs
#8 - 2013-01-07 21:38:37 UTC  |  Edited by: Tau Cabalander
Note that you cannot trade anything on the market without placing an order.

If you "buy it now" or "sell it now" you are actually creating an order of duration "immediate". You can also do this using the advanced interface.

There are no broker fees for immediate orders, but there are transaction taxes on an immediate sale.