Get rich quick: Difference between revisions

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There are many items that cost a lot of ISK, but are thinly traded in contracts. Few buyers means that the final auction price may be quite low. For example, when a rich player auctions off a ship with not so great rigs, the starting price is often less than the cost of the ship without rigs. A low-ball bid may be able to win and the repackaged ship resold immediately.

"Sniping" or bidding at the last minute can be done to win an auction. A dedicated contract trader can observe when a juicy auction target changes over from being x days away to x-1 days away and have good information about when to log back in to snipe and win. One can also look up all of the auctions that have less than one hour to go.

"Sniping" or bidding at the last minute can be done to win an auction for far less than other bidders are willing to pay. A dedicated contract trader can observe when a juicy auction target changes over from being x days away to x-1 days away and have good information about when to log back in to snipe and win. One can also look up all of the auctions that have less than one hour to go.

Many goods are only sold in contracts. Thoughtful appraisal of a lot with multiple items can allow one to resell them for a profit. Be prepared to take some losses here learning the ropes.

Many successful traders combine contracting and harvesting or production. Cosmos items can often be gathered and sold to impatient missioners who want to grow status fast for their station trading alts. Again, this requires capital (a good PvE cruiser or battlecruiser), on-the-job research to figure out what goods sell quickly. Market volumes are not simply a matter of looking at a graph, but must be determined manually.

Many successful traders combine contracting and harvesting or production. Cosmos items can often be gathered and sold to impatient missioners who want to grow status fast for their station trading alts (who are pursuing another get-rich-quick scheme!). Again, this requires capital (a good PvE cruiser or battlecruiser) and on-the-job research to figure out what goods sell quickly. Market volumes are not simply a matter of looking at a graph, but must be determined manually.

The lack of information means there are many opportunities to buy and resell Cosmos items at contract.

The lack of information means there are many opportunities to buy and resell Cosmos items at contract from less knowledgable players.

Skill at Contracting is a must.

(My alt, Jefferson Locke, has been contracting a little for a few months with an alt with level 4 that permits 17 items. Currently ~~I have~~ about 65 million in goods where about 80% of it turns over every 3 days with margins of 100% on half the items harvested in Okkelen and 20-50% on the other half bought from other contractors. Taking this to 100 million per week would require harvesting higher level complexes with battleships, lowsec with cloakies or more contracting slots with another alt.)

(My alt, Jefferson Locke, has been contracting a little for a few months with an alt with level 4 that permits 17 items. Currently he has about 65 million ISK in goods where about 80% of it turns over every 3 days with margins of 100% on half the items harvested in Okkelen and 20-50% on the other half bought from other contractors. Taking this to 100 million in profit per week would require harvesting higher level complexes with battleships, lowsec with cloakies or more contracting slots with another alt.)

==Repeating non-repeatable Cosmos missions==

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 There are many items that cost a lot of ISK, but are thinly traded in contracts. Few buyers means that the final auction price may be quite low. For example, when a rich player auctions off a ship with not so great rigs, the starting price is often less than the cost of the ship without rigs. A low-ball bid may be able to win and the repackaged ship resold immediately.
-"Sniping" or bidding at the last minute can be done to win an auction. A dedicated contract trader can observe when a juicy auction target changes over from being x days away to x-1 days away and have good information about when to log back in to snipe and win. One can also look up all of the auctions that have less than one hour to go.
+"Sniping" or bidding at the last minute can be done to win an auction for far less than other bidders are willing to pay. A dedicated contract trader can observe when a juicy auction target changes over from being x days away to x-1 days away and have good information about when to log back in to snipe and win. One can also look up all of the auctions that have less than one hour to go.
 Many goods are only sold in contracts. Thoughtful appraisal of a lot with multiple items can allow one to resell them for a profit. Be prepared to take some losses here learning the ropes.
-Many successful traders combine contracting and harvesting or production. Cosmos items can often be gathered and sold to impatient missioners who want to grow status fast for their station trading alts. Again, this requires capital (a good PvE cruiser or battlecruiser), on-the-job research to figure out what goods sell quickly. Market volumes are not simply a matter of looking at a graph, but must be determined manually.
+Many successful traders combine contracting and harvesting or production. Cosmos items can often be gathered and sold to impatient missioners who want to grow status fast for their station trading alts (who are pursuing another get-rich-quick scheme!). Again, this requires capital (a good PvE cruiser or battlecruiser) and on-the-job research to figure out what goods sell quickly. Market volumes are not simply a matter of looking at a graph, but must be determined manually.
-The lack of information means there are many opportunities to buy and resell Cosmos items at contract.
+The lack of information means there are many opportunities to buy and resell Cosmos items at contract from less knowledgable players.
 Skill at Contracting is a must.
-(My alt, Jefferson Locke, has been contracting a little for a few months with an alt with level 4 that permits 17 items. Currently I have about 65 million in goods where about 80% of it turns over every 3 days with margins of 100% on half the items harvested in Okkelen and 20-50% on the other half bought from other contractors. Taking this to 100 million per week would require harvesting higher level complexes with battleships, lowsec with cloakies or more contracting slots with another alt.)
+(My alt, Jefferson Locke, has been contracting a little for a few months with an alt with level 4 that permits 17 items. Currently he has about 65 million ISK in goods where about 80% of it turns over every 3 days with margins of 100% on half the items harvested in Okkelen and 20-50% on the other half bought from other contractors. Taking this to 100 million in profit per week would require harvesting higher level complexes with battleships, lowsec with cloakies or more contracting slots with another alt.)
 ==Repeating non-repeatable Cosmos missions==