Business Thursday: how to control the market

Before the post, a quick tip: Audit log containers have a great functionality, they can't be repackaged until the last log entry is 3 weeks old. This is there to protect the log. However we can use it against accidental repackaging. Have you ever repackaged a container, mixing the carefully selected items with others? I did, since then I'm using audit log containers.


Now about the market control. Controlling the market is exactly what you think it is. You decide the running prices, you decide how much profit you want. If you reach market control, you can extort any prices from the hapless people. How can you do it?

You can't.

Whoever you heard of bragging that he controls the market here and there, is either

• a liar
• someone who operates in the middle of nowhere and could "extort" a lost newbie or moron once a year
• who controls production like the Tech cartel did with Tech
• who controls consumption, for example an alliance leader buying out all the Lokis, relisting 2x higher and then declare that the new doctrine is Lokis and everyone must buy one by tomorrow or kicked
• a market swing happened on its own and someone claims he did it

The market cannot be controlled. It will always return to equilibrium and those who try to mess with it don't fare well. The reason is simple: price elasticity. No one is forced to buy anything from you now. There are alternative sources, there are alternative items, he can go out to farm himself or simply wait a few more days. There is nothing in the World that forces him to buy your overpriced product. You on the other hand have to constantly buy out undercutting offers, constantly increasing your stock, usually gained on above-normal price. You could still make profit on these if you could sell it at extortionist prices, but you can't.

Traders are slaves of the invisible hand. It is a very generous master who showers the obedient ones with riches. However it slaps the rebellious into poverty. I've yet to see a single successful guy who intentionally messed with the prices (without having control over production or consumption). The "successful" market controllers are usually liars, sometimes just dumb who don't count their own time and celebrate that they could sell a 3x priced stuff after two days of 0.01-ing without sleep.

So, don't try to be smart, don't try to make it to the front page of the EVE news sites, don't try to do anything worth bragging. Just set up decent buy orders, resell the items with a reasonable margin, transport to other hubs if they are under-supplied and money will just pour into your wallet.