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EVE New Citizens Q&A

 
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Potentially real n00b question
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Tyrn'gog Hanaya
Ministry of War
Amarr Empire
#1 - 2012-08-16 14:20:00 UTC
What am I missing here... if object "X" is selling for 20 ISK in my home system, and there are buy orders for the same object 3 jumps away for 50 ISK, what is there set up in the economy to see that I won't make a full 30 ISK profit per unit?

I would assume corporate taxes, but are there any brokerage fees or any other taxes levied? Even so, is playing the market like this a viable strategy for making ISK?

Thanks..
highonpop
KarmaFleet
Goonswarm Federation
#2 - 2012-08-16 14:25:08 UTC  |  Edited by: highonpop
Tyrn'gog Hanaya wrote:
What am I missing here... if object "X" is selling for 20 ISK in my home system, and there are buy orders for the same object 3 jumps away for 50 ISK, what is there set up in the economy to see that I won't make a full 30 ISK profit per unit?

I would assume corporate taxes, but are there any brokerage fees or any other taxes levied? Even so, is playing the market like this a viable strategy for making ISK?

Thanks..



There is sales tax. Broker fees are paid by whomever issues the buy/sell order. You will pay tax upon purchasing and broker fee upon putting up a sell order. You'll pay both if you put up a buy order.

There may be a 2nd tax with the sell order, but IDR

FC, what do?
Equus
Republic Military School
Minmatar Republic
#3 - 2012-08-16 14:27:18 UTC
Tyrn'gog Hanaya wrote:
What am I missing here... if object "X" is selling for 20 ISK in my home system, and there are buy orders for the same object 3 jumps away for 50 ISK, what is there set up in the economy to see that I won't make a full 30 ISK profit per unit?

I would assume corporate taxes, but are there any brokerage fees or any other taxes levied? Even so, is playing the market like this a viable strategy for making ISK?

Thanks..


I am no trader, but you are right, there are fees and taxes, different skills as well as your standing will affect just how much you get taxed. As I understand, trading is a good way to make money if you pay attention and know what you are doing, of course it's a good way to lose money as well, there is a scam you should google called the "margin trading scam" I believe, that is definitely one to watch for.

Market forums
Keno Skir
#4 - 2012-08-16 16:36:05 UTC
Other than few possible scams this happens regularly especially with some less traded items. Generally if u see a hole where you could move something and make a profit, try it. Do a test run with small amount at first. Make sure the pickup and dest station are in a security you're comfortable with BEFORE you buy anything. Remember you may not have permission (yes a real persons permission) to dock at many stations in nulsec.

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Tyrn'gog Hanaya
Ministry of War
Amarr Empire
#5 - 2012-08-16 17:30:06 UTC
Keno Skir wrote:
Other than few possible scams this happens regularly especially with some less traded items. Generally if u see a hole where you could move something and make a profit, try it. Do a test run with small amount at first. Make sure the pickup and dest station are in a security you're comfortable with BEFORE you buy anything. Remember you may not have permission (yes a real persons permission) to dock at many stations in nulsec.


I've been sticking to HiSec for now (only been playing for just over a week now) getting my feet wet..
Kitty Bear
Deep Core Mining Inc.
Caldari State
#6 - 2012-08-16 18:20:14 UTC
it's potentially a good chance for you to make some money

check 3 things 1st though

You can dock at where the items are being sold.
You can dock at where the buy order is.
There isn't a minimum volume restriction, ie like they will only buy 1000+ items at a time.

ok 4 things
the route between the 2 is 'mostly' safe(ish).
Tech3ZH
Doomheim
#7 - 2012-08-16 21:21:10 UTC
Keno Skir wrote:
Other than few possible scams this happens regularly especially with some less traded items. Generally if u see a hole where you could move something and make a profit, try it. Do a test run with small amount at first. Make sure the pickup and dest station are in a security you're comfortable with BEFORE you buy anything. Remember you may not have permission (yes a real persons permission) to dock at many stations in nulsec.



Good advice there ^^ ...I would add; 'set destination / show route" to the destination station before buying stuff...there are high security "islands" in low security space that you might not want to go through lowsec to get to just yet.

This is a great tool to find trades you can do with any size ship - shuttles to freighters - there are trades you can find there for any price range and any ship you want to use: http://eve-central.com/ Just pay attention to the time spread you are looking for trades in (fewer hours since the potential trade was reported is better) - in busy trade hubs (Jita, Dodixie, Rens, Hek, Amarr) setting your trade search parameters to find potential trades less than an hour old might be best. In less busy places you can look for older trades. Don't be greedy...realize that often the trades with the most profit are snapped up lightning-fast by players who are really good at the market stuff. Look for trades that aren't super-juicy but ok profits...they have more chance of still existing. You can use the market tool half of http://eve-central.com/ to see if there is still a buy order open at your destination for the stuff you are getting before you buy it to trade it.

Then after you trade a while, go shoot something / get shot
Fodan
Phoenix Ashes Inc.
#8 - 2012-08-16 21:27:41 UTC
Perfectly practical way to make isk - train up trade skills to maximise your profits (Accounting, Broker relations being the important two at first).

I've made loads of isk over the years hauling stuff from where its available to where its not... (to put up your own sell orders in volume you'll be wanting some of the other trade skills too)