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Kazuo Ishiguro
House of Marbles
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Posted - 2009.10.14 09:59:00 -
[1]
A useful reference for anyone who wants to take advantage of this increasingly profitable stream of income. It really couldn't be easier:- Buy ships that are for sale below the listed prices.
- Purchase platinum insurance.
- Undock, self-destruct, and collect insurance payout
- ???
- Profit!
If you want to do this on a larger scale:- Buy battleship BPCs off contracts (tier 3 BS recommended)
- Place buy orders for minerals at your build location (you might have to haul some high ends)
- Build your own ships and proceed as above.
Chances are you'll be able to make a reasonable margin this way near any of the major trade hubs, as mineral prices are very low right now.
If you don't mind taking a minor sec status / standings hit, you can jam/shoot a station after undocking to trigger the nearby sentries. This speeds things up considerably, especially if you have several ships saved up in advance and undock in each of them while still flagged for the original offence.
Finally, if you have an alt handy, don't forget to salvage all those tasty battleship wrecks. This boosts your income by a few million isk per ship.
Tier 3 Battleships:
Abaddon: 126.0m Rokh: 115.5m Hyperion: 123.2m Maelstrom: 101.5m
Tier 2 Battleships:
Apocalypse: 78.75m Raven: 76.125m Megathron: 73.5m Tempest: 72.625
Tier 1 Battleships:
Armageddon: 46.375m Scorpion: 49.875m Dominix: 43.75m Typhoon: 52.5m
Insurance fraud can also be profitable with smaller ships, but they take just as long to self-destruct as larger ones, and you generally make less each time.
The list above was generated by taking the baseprice for each ship and multiplying by 0.7 (platinum insurance costs 30% of baseprice and pays out 100%). These values are static - unless CCP changes the way insurance works, they will remain valid indefinitely. If you can reliably get all the salvage, you can still make a profit even when prices are slightly above these levels. --- 34.4:1 mineral compression ISRC Racing, Season 7 - schedule |
RaTTuS
BIG Libertas Fidelitas
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Posted - 2009.10.14 10:39:00 -
[2]
if you also have a salvage to hand - you can salvage the wreak also -- 3 Titans Lottery EB | Capital |
Bongo Debbie
Minmatar Sekret Kool Klubb
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Posted - 2009.10.14 10:43:00 -
[3]
Originally by: RaTTuS if you also have a salvage to hand - you can salvage the wreak also
Get out of the classroom. ----
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bitters much
Nekkid Inc.
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Posted - 2009.10.14 10:49:00 -
[4]
Originally by: Kazuo Ishiguro lots of rubbish
Because the insurance itself costs nothing , Good luck finding a BS 32mil ( platinum insurance ) below build cost
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Raser Moonstrider
Imperial Syndicate Forces
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Posted - 2009.10.14 10:53:00 -
[5]
Originally by: bitters much
Originally by: Kazuo Ishiguro lots of rubbish
Because the insurance itself costs nothing , Good luck finding a BS 32mil ( platinum insurance ) below build cost
not below build cost....below payout...
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Blane Xero
Amarr The Firestorm Cartel
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Posted - 2009.10.14 10:53:00 -
[6]
Originally by: bitters much
Originally by: Kazuo Ishiguro lots of rubbish
Because the insurance itself costs nothing , Good luck finding a BS 32mil ( platinum insurance ) below build cost
You have no idea how often people will sell them for lower than that. _____________________________________ Haruhiist since December 2008
Originally by: CCP Fallout :facepalm:
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Kazuo Ishiguro
House of Marbles
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Posted - 2009.10.14 10:55:00 -
[7]
Originally by: bitters much
Originally by: Kazuo Ishiguro lots of rubbish
Because the insurance itself costs nothing , Good luck finding a BS 32mil ( platinum insurance ) below build cost
The numbers I have listed are not the raw insurance payouts. They are the totals left over after buying the insurance, and right now there are dozens of battleships for sale below these prices. Build costs are actually even lower than that, depending on where you get your minerals / BPCs. --- 34.4:1 mineral compression ISRC Racing, Season 7 - schedule |
RaTTuS
BIG Libertas Fidelitas
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Posted - 2009.10.14 10:55:00 -
[8]
Originally by: bitters much
Originally by: Kazuo Ishiguro lots of rubbish
Because the insurance itself costs nothing , Good luck finding a BS 32mil ( platinum insurance ) below build cost
Sheesh e.g. Buy Arma @ 45.572Mil Insure plat cost 19.975Mil total is 65.547Mil payout is 66.250Mil
-- 3 Titans Lottery EB | Capital |
bitters much
Nekkid Inc.
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Posted - 2009.10.14 11:00:00 -
[9]
Edited by: bitters much on 14/10/2009 11:02:05
Originally by: RaTTuS
Originally by: bitters much
Originally by: Kazuo Ishiguro lots of rubbish
Because the insurance itself costs nothing , Good luck finding a BS 32mil ( platinum insurance ) below build cost
Sheesh e.g. Buy Arma @ 45.572Mil Insure plat cost 19.975Mil total is 65.547Mil payout is 66.250Mil
You will win EVE with this massiv win in no time, 700k profit
PS: Sorry didnt saw that you live in Providence, sure thats more then the average BS rats down there
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RaTTuS
BIG Libertas Fidelitas
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Posted - 2009.10.14 11:02:00 -
[10]
Originally by: bitters much
You will win EVE with this massiv win in no time, 700k profit
profit is profit and you can market pvp at the same time.
-- 3 Titans Lottery EB | Capital |
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Sex'Kitten
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Posted - 2009.10.14 11:03:00 -
[11]
Just posting to inform you that Kazuo runs a mineral compression business. He buys minerals off the market, builds ammo/modules and sells those items to customers on a cost-plus basis.
What I'm getting at here is that Kazuo has a lot to gain if mineral prices rise, just sayin'.
Also, hauling the minerals to build large numbers of battleships is boring as ****, you should try it if you don't believe me.
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Jagga Spikes
Minmatar Sebiestor tribe
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Posted - 2009.10.14 11:04:00 -
[12]
Edited by: Jagga Spikes on 14/10/2009 11:05:16
Originally by: bitters much
Originally by: RaTTuS ... Sheesh e.g. Buy Arma @ 45.572Mil Insure plat cost 19.975Mil total is 65.547Mil payout is 66.250Mil
You will win EVE with this massiv win in no time, 700k profit
700k per 3min equals to 14mil per hour. now, if only you can get 20 cheap geddons at same station... not bad for high-sec.
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bitters much
Nekkid Inc.
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Posted - 2009.10.14 11:07:00 -
[13]
Originally by: RaTTuS
Originally by: bitters much
You will win EVE with this massiv win in no time, 700k profit
profit is profit and you can market pvp at the same time.
No, cos you have to undock for atleast 2min to SD, I make more with market PVP in 2min then 700k if I¦m active in station.
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Kazuo Ishiguro
House of Marbles
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Posted - 2009.10.14 11:09:00 -
[14]
Originally by: Sex'Kitten Just posting to inform you that Kazuo runs a mineral compression business. He buys minerals off the market, builds ammo/modules and sells those items to customers on a cost-plus basis.
What I'm getting at here is that Kazuo has a lot to gain if mineral prices rise, just sayin'.
Rising mineral prices are not necessarily in my interest, as this usually means that fewer people can afford supercaps, reducing demand.
Quote: Also, hauling the minerals to build large numbers of battleships is boring as ****, you should try it if you don't believe me.
Ever thought of using compression? I've done plenty of '50 BS in a JF' jobs at reasonable prices. --- 34.4:1 mineral compression ISRC Racing, Season 7 - schedule |
bitters much
Nekkid Inc.
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Posted - 2009.10.14 12:13:00 -
[15]
Originally by: Jagga Spikes Edited by: Jagga Spikes on 14/10/2009 11:05:16
Originally by: bitters much
Originally by: RaTTuS ... Sheesh e.g. Buy Arma @ 45.572Mil Insure plat cost 19.975Mil total is 65.547Mil payout is 66.250Mil
You will win EVE with this massiv win in no time, 700k profit
700k per 3min equals to 14mil per hour. now, if only you can get 20 cheap geddons at same station... not bad for high-sec.
Everyone with half a brain and the ISK to buy 20 BSs would know better ways to make more than 14mil/hour.
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Sex'Kitten
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Posted - 2009.10.14 12:41:00 -
[16]
Originally by: Kazuo Ishiguro
Quote: Also, hauling the minerals to build large numbers of battleships is boring as ****, you should try it if you don't believe me.
Ever thought of using compression? I've done plenty of '50 BS in a JF' jobs at reasonable prices.
That's a really good idea. I could use about 10b units of isogen delivered to delve, can you help?
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Luke S
Mad Bombers
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Posted - 2009.10.14 13:29:00 -
[17]
Heh, I was thinking about doing this, But I was to lazy to figure out the math. Looks like I should revisit that idea. ---
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Kazuo Ishiguro
House of Marbles
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Posted - 2009.10.14 13:38:00 -
[18]
Originally by: Sex'Kitten
Originally by: Kazuo Ishiguro
Quote: Also, hauling the minerals to build large numbers of battleships is boring as ****, you should try it if you don't believe me.
Ever thought of using compression? I've done plenty of '50 BS in a JF' jobs at reasonable prices.
That's a really good idea. I could use about 10b units of isogen delivered to delve, can you help?
Not all in one go, but yes, I could help if you broke it down a bit. --- 34.4:1 mineral compression ISRC Racing, Season 7 - schedule |
RaTTuS
BIG Libertas Fidelitas
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Posted - 2009.10.14 13:55:00 -
[19]
Originally by: bitters much
Everyone with half a brain and the ISK to buy 20 BSs would know better ways to make more than 14mil/hour.
yes but any one with enough isk to get 1 ship + insurance can then make profit [if they have the BS skill]
-- 3 Titans Lottery EB | Capital |
Doddy
The Executives IT Alliance
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Posted - 2009.10.14 15:02:00 -
[20]
Surely its way more profitable to buy the below cost ships and then sell them for above cost. Or buy them, reprocess them and sell the minerals. Why bring insurance into it at all? This is really stupid.
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Kazuo Ishiguro
House of Marbles
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Posted - 2009.10.14 15:08:00 -
[21]
Originally by: Doddy Surely its way more profitable to buy the below cost ships and then sell them for above cost. Or buy them, reprocess them and sell the minerals. Why bring insurance into it at all? This is really stupid.
The limiting factor for a lot of people is their available capital; reselling ships 1 or 2 at a time is generally much slower than self-destructing them. Also, as mineral prices are so low, other sellers will just undercut.
As for reprocessing, look at mineral prices and then tell me that it's better than insurance fraud. --- 34.4:1 mineral compression ISRC Racing, Season 7 - schedule |
Amateratsu
Caldari The Pegasus Project
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Posted - 2009.10.14 15:55:00 -
[22]
In Before CCP Declares Insurance fraud an Exploit and slams the nerfbat down hard on base prices/insurance payouts á
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Imperator Jora'h
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Posted - 2009.10.14 16:52:00 -
[23]
It'll sort itself out. As more people go for insurance fraud the price of the ships will rise (Econ 101 Supply vs. Demand). When the price rises it will not be profitable to do the insurance fraud.
Likely, if ships can be considered a commodity (which for T1 is pretty close to reality) the insurance simply sets a floor on the price. Prices will probably equalize right around the break-even for insurance fraud with minor blips above and below it.
-------------------------------------------------- "Of course," said my grandfather, pulling a gun from his belt as he stepped from the Time Machine, "there's no paradox if I shoot you!"
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Steve Celeste
Caldari Overdogs
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Posted - 2009.10.14 17:15:00 -
[24]
I blew up about 30 abaddons near jita last week, its pretty boring...
Profit was nice though.
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Capt Fossil
Gallente
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Posted - 2009.10.14 17:25:00 -
[25]
No wonder it's so easy to make isk in this game.........
This is the best idea that some of you can come up with to earn isk?
I think I just made about 20 BS worth while reading this thread and typing a reply. BTW, I am small time at what I do also.
So YES! This is a great idea! Everybody do it.
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Caztra Tor
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Posted - 2009.10.14 18:54:00 -
[26]
No disrespect intended, but it sounds only slightly more boring than mining. Still, fraud/deceit/lying are as much a part of Eve as is killing.
Caztra Tor
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Zeba
Minmatar Honourable East India Trading Company
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Posted - 2009.10.14 19:04:00 -
[27]
Heh, me and a few others have figured out a way to make about 500mil to a bil an hour in low sec. We expect it to get the nuclear powered nerfbat soonish but atm its going strong. And no silly exploits are being used as its all well within the game mechanics.
Quote: [03:39:05] Emperor Salazar > HOLY **** ITS ZEBA [03:39:20] Emperor Salazar > NEVER STOP POASTING
Zeba is the BEST! ~Mitnal |
Cory Sopapilla
Minmatar Kiroshi Group
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Posted - 2009.10.14 19:07:00 -
[28]
This is the "hard floor" price on ships that the "my minerals are free" crowd overlook. Just buy anything under hard floor pricing and use insurance, refining, or resale. It's like having hundreds of people donate build slots to you for a % of the profit.
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Blane Xero
Amarr The Firestorm Cartel
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Posted - 2009.10.14 19:35:00 -
[29]
Originally by: Zeba Heh, me and a few others have figured out a way to make about 500mil to a bil an hour in low sec. We expect it to get the nuclear powered nerfbat soonish but atm its going strong. And no silly exploits are being used as its all well within the game mechanics.
And people say Highsec is bad. _____________________________________ Haruhiist since December 2008
Originally by: CCP Fallout :facepalm:
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NeoNeTiC
LOCKDOWN.
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Posted - 2009.10.14 19:47:00 -
[30]
Originally by: Zeba Heh, me and a few others have figured out a way to make about 500mil to a bil an hour in low sec. We expect it to get the nuclear powered nerfbat soonish but atm its going strong. And no silly exploits are being used as its all well within the game mechanics.
Does it involve the stuff mentioned in the OP + killing the ship with an alt in a militia to get the LP + salvaging? :o
Because that's how I'd do it (given CCP does not nerf it). ^_^
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