Thursday, October 9, 2014

Making a killing on Meta 4 mining laser upgrades

From flickr user Psycho Al

I had a lot of fun doing these trades, and it's going to be more fun to share it!

I've mentioned this item, the mighty Aeode Mining Laser Upgrade, a few times in the past, but I got recently got lucky and acquired three of them, for 500M each just as the sellers market dried up. So I was holding three valuable items and nobody else was selling. What should I do?

Jack up the price!

The sales history showed it had never sold for more than 800M, not in the past six months anyway. I decided to try for a 1B isk sale, after taxes. I needed to sell for a little more than 1B to pay the sales tax and broker fees, so here's my first listing. I put two separate orders up to give the illusion that two different sellers were doing this. Notice the orders are a few hours apart to add to this impression.

Partial success! Another seller appears, reinforcing this as the new price for this item.

I don't have a screenshot of my next step, but here's what happened. The other seller made his sale, leaving me with 2 orders still up and still no competition from other sellers.  I decided to raise the stakes and raise ONE of my order's price to 1.5B. That would make the 1B isk item look cheap by comparison.

And it works! I make my first 1B+ sale, netting about 500M profit.

 The buyer immediately relists for 1.5B. If he had checked the sales history he'd have seen the item has never sold that high, and only just start selling at 1B in the last couple of days. He should have smelled a rat.  I list another Aeode that I'd picked up from my buy order at the new 1.5B mark, just in case someone actually is willing to pay that much.

It doesn't happen, sadly, but in the next few days as more sellers enter the market and the price drops back to 1B, I get a pleasant suprise.

A buyer pays me 1B isk for this item, then sells it back to my buy order 1 minute later! 500M profit and I still own the item, ready to sell it again!

Since the events shown here the price has drifted back down to about 590M on the sell, while the buy is still at 500M. What worries me most is that with the ongoing module tiericide that CCP is doing, this module may disappear or get nerfed, so I'm selling my remaining stock.

But this was a fun, fun few days of station trading!