Ever considered why WoW has no buy orders? Because Blizzard try to make sure that idiots are not exploited by people with brain. EVE is not WoW and in the market there are buy orders. If you accept those, you instantly sell. ISK now yay! - says the lolkid making sure that he'll run missions for ISK for the rest of his life (or converts PLEX).
If you want to make money with anything, the general rule is not to accept a buy order but to set up a sell order. The difference between buy and sell orders are usually large enough to let the station traders be rich. They are the guys who set up the buy orders and then resell the same item on the same station. Since they are mostly annoying 0.01 ISKers, please don't feed them. Keep the profit and the tax+broker fee for yourself: sell it yourself.
Of course there are exceptions from every rule, sometimes you should accept buy orders:
Don't! The rat poison that works on their WoW buddies get rid of them just as well: deep undercutting! Please look at that transaction log (oldest entry on the bottom):
On 2012.03.03 6:36 I sold the sole book I had for myself since I saw the price way over the buy price. It sold fast, so I chose to buy some more. These books are sold for 25.2M by NPCs on stations 5-10 jumps from Jita. The profit was 28.6*(1-0.0127)-25.2 = 3.03M on a single book. So I went and bought some, and started listing them. Sold 2 more when the resident 0.01 punk noticed competition and undercut. Since I was jumping in and out to Jita with various stuff, I could undercut him by 10K or something often, still I could only sell 2 when some guys bought them in rapid succession, probably in the 5 minutes window of the punk. So I cut the price by a million and since he did not give up, by another half the next day and in 3 steps by another half the day after. The profit for me now is 710K/book. Since then I'm selling happily, he probably choose to wait me out, or rather he had no choice since he is not transporting them himself but buying them on the station, having to pay the haulers fee and the tax of the sell between the hauler and him.
So calculate your minimum profit expectation and if you are undercut by a 0.01 punk, cut the price down to that minimum in 3-5 steps. He'll either go to hell, or you have to accept that there is someone who has better source or lower profit expectation. Of course it doesn't mean you shall accept a buy order, you can keep your sell order up for a few days, maybe the lower price increases the demand enough that his stockpiles are bought up and you sell too.
Before you'd ask why the hate against the 0.01 punk: I'm a preacher of capitalism and a strong believer that it's good for the World. The station trader is providing a useful service for both parties. The impatient seller can sell instantly to his buy order, the buyer will find the item on the station, he doesn't have to go there the previous day to set up a buy order. The competing station traders decrease the margin between the buy and sell prices, providing income to both parties. The 0.01 punk not only doesn't provide such service but discourage sellers to set up sell orders (as it won't sell as he undercuts them) and discourage buyers to set up buy orders, so he moves the market away from equilibrium, enforcing the belief that the market is something evil that doesn't serve the people. I'm also annoyed by his existence as it's pretty easy to get rid of him so his pure existence proves that most people has the trading knowledge of a toad.
PS: the pictures above also serve as moron of the day. Two can be seen at 03.04 10:40 and 03.06 22:55. Instead of buying my 26.9 and 26.2M auctions they set up buy orders for 29.4 and 28.9. Since no transporting was involved and setting up a buy order takes more clicks than accepting an existing sell order there is no other explanation than him being dumb. The biggest moron however is me at the top. I woke up to a car alarm and couldn't sleep back so I logged in. Recognized that almost all my books sold so I went to buy some more. Never do that half asleep, run some errand instead! I found some cheap books, checked that no low-sec gate is in the way and off I went to pick them up. When I saw CONCORD on the third gate in the row I checked the map. I bought the books on Torrinos, which is at the end of a linear chain. From Torrinos you can only go Yoma, from there Isinokka, from there Oipo, then Haajinen, then Piak. It doesn't need a genius to figure out ones route. Beyond Torrinos there is nullsec territory. This is the only way from there to Jita. All systems bright red on the "ships destroyed last 24 hours". Obvious pirate scouts at all gates, mixed with CONCORD. So I managed to buy 300M worth of books at the end of pirate highway to transport it in a T1 frigate. I made it. But it just makes me a lucky idiot.
PS2: Short business update: Cash + buy orders + sell orders = 1.002B (500M from gifts). Thanks to my luck. It could be 700M. Ouch.
If you want to make money with anything, the general rule is not to accept a buy order but to set up a sell order. The difference between buy and sell orders are usually large enough to let the station traders be rich. They are the guys who set up the buy orders and then resell the same item on the same station. Since they are mostly annoying 0.01 ISKers, please don't feed them. Keep the profit and the tax+broker fee for yourself: sell it yourself.
Of course there are exceptions from every rule, sometimes you should accept buy orders:
- The difference between buy and sell orders is so small that it doesn't worth fighting with the 0.01 punks.
- The buy order of one station is above the sell order of another, this was set up by some idiot or by someone whose time worth more than the price difference. This case you can transport to him.
- You sell on some distant station where you don't want to transport from or don't want to return to modify the offer. For example a miner who mined Plagioclase, refined it in the nearest station transports the Mexallon to Jita but sells the Pyrite and Tritanium nearby as transporting those don't worth his time.
- You ran out of open market order slots so can't set up more sell orders. This case find the order with the lowest sell-buy difference and modify the order to match a buy order to get rid of it.
Don't! The rat poison that works on their WoW buddies get rid of them just as well: deep undercutting! Please look at that transaction log (oldest entry on the bottom):
On 2012.03.03 6:36 I sold the sole book I had for myself since I saw the price way over the buy price. It sold fast, so I chose to buy some more. These books are sold for 25.2M by NPCs on stations 5-10 jumps from Jita. The profit was 28.6*(1-0.0127)-25.2 = 3.03M on a single book. So I went and bought some, and started listing them. Sold 2 more when the resident 0.01 punk noticed competition and undercut. Since I was jumping in and out to Jita with various stuff, I could undercut him by 10K or something often, still I could only sell 2 when some guys bought them in rapid succession, probably in the 5 minutes window of the punk. So I cut the price by a million and since he did not give up, by another half the next day and in 3 steps by another half the day after. The profit for me now is 710K/book. Since then I'm selling happily, he probably choose to wait me out, or rather he had no choice since he is not transporting them himself but buying them on the station, having to pay the haulers fee and the tax of the sell between the hauler and him.
So calculate your minimum profit expectation and if you are undercut by a 0.01 punk, cut the price down to that minimum in 3-5 steps. He'll either go to hell, or you have to accept that there is someone who has better source or lower profit expectation. Of course it doesn't mean you shall accept a buy order, you can keep your sell order up for a few days, maybe the lower price increases the demand enough that his stockpiles are bought up and you sell too.
Before you'd ask why the hate against the 0.01 punk: I'm a preacher of capitalism and a strong believer that it's good for the World. The station trader is providing a useful service for both parties. The impatient seller can sell instantly to his buy order, the buyer will find the item on the station, he doesn't have to go there the previous day to set up a buy order. The competing station traders decrease the margin between the buy and sell prices, providing income to both parties. The 0.01 punk not only doesn't provide such service but discourage sellers to set up sell orders (as it won't sell as he undercuts them) and discourage buyers to set up buy orders, so he moves the market away from equilibrium, enforcing the belief that the market is something evil that doesn't serve the people. I'm also annoyed by his existence as it's pretty easy to get rid of him so his pure existence proves that most people has the trading knowledge of a toad.
PS: the pictures above also serve as moron of the day. Two can be seen at 03.04 10:40 and 03.06 22:55. Instead of buying my 26.9 and 26.2M auctions they set up buy orders for 29.4 and 28.9. Since no transporting was involved and setting up a buy order takes more clicks than accepting an existing sell order there is no other explanation than him being dumb. The biggest moron however is me at the top. I woke up to a car alarm and couldn't sleep back so I logged in. Recognized that almost all my books sold so I went to buy some more. Never do that half asleep, run some errand instead! I found some cheap books, checked that no low-sec gate is in the way and off I went to pick them up. When I saw CONCORD on the third gate in the row I checked the map. I bought the books on Torrinos, which is at the end of a linear chain. From Torrinos you can only go Yoma, from there Isinokka, from there Oipo, then Haajinen, then Piak. It doesn't need a genius to figure out ones route. Beyond Torrinos there is nullsec territory. This is the only way from there to Jita. All systems bright red on the "ships destroyed last 24 hours". Obvious pirate scouts at all gates, mixed with CONCORD. So I managed to buy 300M worth of books at the end of pirate highway to transport it in a T1 frigate. I made it. But it just makes me a lucky idiot.
PS2: Short business update: Cash + buy orders + sell orders = 1.002B (500M from gifts). Thanks to my luck. It could be 700M. Ouch.
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