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EVE New Citizens Q&A

 
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Market Trading Question

Author
Sir Jack Falstaff
The Scope
Gallente Federation
#1 - 2013-09-01 00:45:38 UTC
So recently I've been running plexes in Placid and trading in the LPs for Comets that I sell on the market. I know, gun running is a contemptible profession, but it's a living. Anyway, my question is this: sometimes the highest buy offer I can see will come with a warning that it is x% under regional average. Where and how do I find my higher paying customers? Also, how would I find the prices in the major trading hubs? I'm willing to travel a bit for a few extra million if there are better offers there, but I can't see them. Is it just my trading skills are weak? (They are nearly nonexistent) Or am I missing something obvious in the market UI/menus?

Banish plump Jack, and banish all the world.

NightCrawler 85
Phoibe Enterprises
#2 - 2013-09-01 00:51:14 UTC  |  Edited by: NightCrawler 85
This site will help you find the prices. Im not sure how often it updates but should be pretty accurate Smile

While ingame you will only be able to see the prices in your current region, thats why sometimes you can go a couple of jumps and the market looks completely different.
Socks the Fox
Sebiestor Tribe
Minmatar Republic
#3 - 2013-09-01 01:00:59 UTC
Keep in mind sometimes that number's a bit... off. For example, if someone has a sell order up for 27 bil, that'll throw off the regional average a bit, causing that message to pop up.
Sir Jack Falstaff
The Scope
Gallente Federation
#4 - 2013-09-01 01:12:29 UTC
Thanks! That's really helpful. Turns out my buyer is giving me a fairly decent price. I could get a million more in Dodixie, but it would involve 10+ jumps more than usual, and if you've seen the madness that Placid has been recently, the extra mil isn't worth the risk. The one time I got the warning was when my usual buyer had used up his quota or something and I unloaded a comet for 9 mil. I should have just waited an extra day, until my usual guy placed another order.

Banish plump Jack, and banish all the world.

Mr Epeen
It's All About Me
#5 - 2013-09-01 01:22:59 UTC
Also keep in mind that right now the margin trading scam is pretty common. One of the major things that happens because of this is that the market becomes artificially inflated and you will get the X% under regional average a lot.

If you are are serious about getting a fair price for your stuff you need to make characters in your other two slots and park them in two different places. Say, one in Jita and the other in Amarr. They are now your price checkers. That way if you are seeing something not quite right, you can log one of them in and see what's what in the other areas of New Eden.

Mr Epeen Cool
Thomas Builder
Center for Advanced Studies
Gallente Federation
#6 - 2013-09-01 04:37:39 UTC
Sir Jack Falstaff wrote:
Anyway, my question is this: sometimes the highest buy offer I can see will come with a warning that it is x% under regional average. Where and how do I find my higher paying customers?
The highest buy offer is rarely a good price - if you want the best price, you have to create your own sell order.

Of course, once you add the broker fee and waiting time, you might decide that the difference isn't worth it - but it can make a big difference. How big of a difference will depend on the item and the place where you're selling it.
Solai
Doughfleet
Triglavian Outlaws and Sobornost Troika
#7 - 2013-09-01 08:08:03 UTC
The above poster's words are true. You'll want to determine the price, usually.
Sometimes that's not practical, though; not enough trade slots, not going to stick around, need faster turnover to regain liquid, not worth the opportunity cost, etc.

Regarding regional averages, those have to be taken in context. And the context comes from the most standard point of reference: Jita. Compare your price to what it's doing in Jita to know where it stands. Use Eve-Central, and use the advanced search. Filter by region, and choose The Forge. You might consider using Amarr instead, but Jita serves much more people, and is therefore a more appropriate frame of reference.

Regarding best prices, you have to figure out who uses the items, where, and why, as well as where it comes from. Low supply and high demand make for high prices. For example, in low- and null-sec, high end minerals don't get much use, but are more prevalent. People want to get rid of them, so they sell for cheaper. Meanwhile, it can be reliably sold in high-sec, especially Jita. The same interaction can be found in meta-4 rat drops.

I'll also advise that you set up a spreadsheet for your operation, if you aren't already. In competitive markets, things get tricky enough that you really need that kind of info log, and info-parsing. Try to set it up to compute the non-obvious data, like ROI, and profits derived from how much of the items moves per week, maybe have it automatically import a few datapoints like mineral prices.
Lia Danna
Perkone
Caldari State
#8 - 2013-09-03 05:07:54 UTC
"Jita price" is the baseline price for almost all items in eve. That doesn't mean it will be the best place to selbuy goods, but prices in the other places are indirectly controlled by the price in Jita. Create an alt, stick him/her in Jita, and log that character on when you need to check the price of something.

Regarding buy/sell orders: If you're in a hub, particularly Jita/Amarr the buy order prices will be very competitive with the sell order prices for most items. Be aware that by selling to buy orders you are giving someone else profit, but unless you are dealing in huge volumes, it is typically worth it. It is, as Solai said, all about opportunity cost. Do you sit in jita 0.01 isking on a 1 mil item or do you go run a few FW plexes and make 50 mil in an hour?
Maximus Hashur
Federal Defense Union
Gallente Federation
#9 - 2013-09-03 21:01:05 UTC
If you can wait for the isk, place a sell order at 1 penny lower than the top sell order in the station your selling. You will not get the instant isk, as if you just filled a highest buy order, but you will make more.

Example - (im at work so these are made up numbers but will show what i mean)

Fed Navy Comet / EACH

SELL ORDERS
Highest is $10,000,000.00

BUY ORDERS
Highest is $8,500,000.00

If you use the simple sell option it will give you $8.5M per ship you sell - minus tax and broker fees. If you place a sell order though, you will be placing that order for 1 penny under 10M, per ship sold. This is the basic idea behind station trading.

If you can wait for the isk i would recommend placing sell orders for just under the price of the top line item all the time. YOU MAY HAVE TO REGULARLY UPDATE THE ORDER TO KEEP IT ON TOP but that's part of the game and necessary until you sell all your stock.

Looked up...saw this F***ING clown dropping like a rock.  Woke up in Vylade wondering what just happened!!!

Kyseth
Viziam
Amarr Empire
#10 - 2013-09-04 17:47:00 UTC
Another thing to do is check the price history on an item. 5day, 10days, and 1 month can give you some very important information before creating/accepting a buy/sell order.

Example:
You see 20 sell orders for around 2M for a particular item. You buy orders at 500k. You think, well, that isn't too bad profit if I set up some buys and just resell them. Now, say you look at the price history for 5days with almost no volume. You check 10days. Again, almost no volume. You check 1 month and tada! There was a spike in the average price from 2 THOUSAND to 2 MILLION. You look back at each of those sell orders and find they have been sitting there for about a month. Not so profitable an item anymore, is it?
Cara Forelli
State War Academy
Caldari State
#11 - 2013-09-05 19:45:20 UTC
NightCrawler 85 wrote:
This site will help you find the prices. Im not sure how often it updates but should be pretty accurate Smile


EVE-central data is updated from the cache of users, meaning that it isn't updated until someone using their software clicks on that item in-game. Since the majority of people using it are traders, the prices in Jita and and other trades hubs are pretty accurate, but you may get some funky results out in less traveled regions.

Source

Want to talk? Join my channel in game: House Forelli

Titan's Lament

Thomas Builder
Center for Advanced Studies
Gallente Federation
#12 - 2013-09-05 20:01:16 UTC  |  Edited by: Thomas Builder
Update: The problem described below has been fixed, market websites are working again.

What Cara said used to be true (and might be true again in the future is now true again.)

However Odyssey 1.1 changed the cache format, so right now, all market websites are broken. Some are still showing old data, but none have been getting new data since Tuesday. This also affects a lot of other websites that were using the the market data to calculate profits for various activities (mining, refining, industry, ...)

So right now, the only way to get market data is in-game, e.g. with an alt in Jita.

Hopefully this will be repaired soon.