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Eleknar
Eleknar Enterprises
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Posted - 2010.11.04 13:32:00 -
[1]
Which would be more cost effective? I have Mining V, Refine Efficiency IV, and a Retriever. Manufacturing skills aren't great but I'm working on it. Thanks.
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So I just touched some clothes at Goodwill, then rubbed my eye. Am I going to get pregnant? 'Cause I can NOT get pregnant right now!! ~ Mike Ferguson |
Lutz Major
Austriae Est Imperare Orbi Universo
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Posted - 2010.11.04 13:49:00 -
[2]
Here is a plugin for your needs:<plugin>
Calculator
</plugin>
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Lady Ayeipsia
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Posted - 2010.11.04 13:54:00 -
[3]
It's not just about cost, but also risk involved.
Remember, Zydrine and Megacyte (SP?) can only be found in low sec or rare grav belts. Isogen isn't in Caldari space, and I thing Mexallon or Nox isn't in other space.
So basically, say you are a Caldari miner. Unless you want to only make items that use Mex, Nocx, Trit, and Pyre, you will need to buy minerals. If you want to make only the limited items, well... so does everyone else and you won't make as much profit.
My suggestion, mine the low end minerals as you will need a ton (especially trit) and buy only the high end. You can also make some high end minerals from reprocessing modules you find while mission running or off the belt rats, but it is usually not enough if you want to get in to frigat production or above.
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Flios Bror
Amarr
Doom Guard
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Posted - 2010.11.04 14:07:00 -
[4]
Most cost effective:
1. buy minerals you need for production
2. mine the most profitable ores in your spare time and sell those minerals
Point 1 and 2 have little to do with each other, since the cost of selling/buying (tax/broker fee) is small. Of course you can sell minerals to yourself, but always do that at market-rates.
[None] |
Whitehound
The Whitehound Corporation
The Chamber of Commerce
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Posted - 2010.11.04 14:37:00 -
[5]
Edited by: Whitehound on 04/11/2010 14:40:37
Do not make this just a matter of cost efficiency. Instead, make this a matter of how much minerals you need, too.
When you need more minerals than you can mine yourself do you want to start buying them (you then know that you have to ...).
I suggest that you continue with mining, but start selling the ores/minerals to the best buyers for a source of ISKs (you can do mission running, too ...). At the same time do you start buying small amounts of minerals at the station where you have your production. It has the advantage that you do not need to haul the ores or minerals to the production, but let your ISKs do the travelling.
Of course, in order for this to work do you need to find a production station where there is little traffic and where you can buy the minerals cheap.
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LHA Tarawa
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Posted - 2010.11.04 15:49:00 -
[6]
You should do the math separatly.
Figure out how much you can mine per hour * price = profit from mining.
When figuring out profits from manufacturing, be sure to "buy" the minerals that you mined from yourself, at the price you could have sold them for. This is the additional profit from manufacturing. If you are not paying yourself for the minerals, than you are mistaking profits from mining as pofits from manufacturing.
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Eleknar
Eleknar Enterprises
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Posted - 2010.11.04 16:21:00 -
[7]
 Originally by: LHA Tarawa
You should do the math separatly.
Figure out how much you can mine per hour * price = profit from mining.
When figuring out profits from manufacturing, be sure to "buy" the minerals that you mined from yourself, at the price you could have sold them for. This is the additional profit from manufacturing. If you are not paying yourself for the minerals, than you are mistaking profits from mining as pofits from manufacturing.
And that makes me wonder if I would make more by selling the minerals than I would selling the product that I make from the minerals. If I have good manufacturing skills and good mining skills will the profits be about even, will manufacturing make me more, or does it simply depend? Thanks for all of the answers so far.
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So I just touched some clothes at Goodwill, then rubbed my eye. Am I going to get pregnant? 'Cause I can NOT get pregnant right now!! ~ Mike Ferguson |
rain9441
Big Head Want Dolly
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Posted - 2010.11.04 16:25:00 -
[8]
Never mine your own minerals. If you are getting 20% profit margin, every 1mil isk you mine will net you 200k extra isk from manufacturing the minerals into something else.
I've made billions off manufacturing. If I mined my own minerals I would've had to have mined tens of billions of isk worth of minerals. 10 billion isk from mining? No way.
If you are seriously getting into manufacturing you are doing so to make isk without a whole lot of effort. Mining = effort. Lots and lots of mining = lots and lots of effort.
Mining is not cost effective at all, ever. It's just a waste of time.
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Lady Ayeipsia
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Posted - 2010.11.04 16:32:00 -
[9]
To put it simply, do you have a production efficency skill at level 5? If not, don't bother manufacturing until you do. There are very few products that will make you a profit with lower production efficency skill level. You would be better off just mining and selling the minerals.
Also, factor in the cost of any BPCs you buy. No sense spending 5 million on a 100 ME/100 PE 30 run kestrel BPC. You wouldn't really make the 5 million back.
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Akita T
Caldari
Caldari Navy Volunteer Task Force
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Posted - 2010.11.04 21:05:00 -
[10]
Edited by: Akita T on 04/11/2010 21:09:09
Mining generates income, but manufacture generates profit (if you do the math first).
Mining is about time spend online playing, manufacturing is about total time elapsed with stuff in the oven (usually offline) and proper spreadsheet work.
If you do any serious manufacturing, you could never fill the need for minerals just by mining yourself even if you mined 23/7 (which is obviously not something you should even attempt to do), so there is no doubt you will HAVE to buy minerals (or ore) from the market.
The question you first asked then becomes almost completely meaningless.
If you're serious about manufacture, forget you can mine while you calculate the manufacture part of your activity.
After you're done with that and still have time to stay online, you can mine if you feel like it.
Then "miner-you" should sell the minerals to "manufacturer-you" at whatever price you would have gotten for them on the market.
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Beginner's ISK making guide | Manufacturer's helper | All about reacting
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Umega
Solis Mensa
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Posted - 2010.11.05 00:58:00 -
[11]
Get decent npc corp standing to remove refine tax first (6.75ish?) in a corp that has 50% refine stations. Get refine skill to V, get scrapmetal reproc (I think refine IV with proper implant works too, I forget) to achieve 100% return on reprocessing modules.
I'm not going to say which, but examine mods on market and find ones that produce the best return on mineral value after successful buy orders. Cheaper than buying minerals, faster than mining them.
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-Treat the EVE Market like you're a pimp and it is your 'employee'.. freely fondle it as you wish and make it pay you for it- |
Yelan Zhou
Amarr
Ba.theen Aljannatal Asaakitah
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Posted - 2010.11.05 03:48:00 -
[12]
Originally by: Lady Ayeipsia
To put it simply, do you have a production efficency skill at level 5? If not, don't bother manufacturing until you do.
Why is everyone saying this like a mantra ? Its simply not true. I produce now since 2 years and make hefty profits with the skill at 4. Yes of course I could make more with 5 thats obvious. If you a bit samrt and know what yer doing 4 is plenty. Infact in situations where the skill at 4 makes you a loss and 5 a profit should be avoided anyway since they are rarely worth the time (safe super resource intensive stuff like capitals of course or insane volumes).
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rain9441
Big Head Want Dolly
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Posted - 2010.11.05 15:18:00 -
[13]
Originally by: Yelan Zhou
Why is everyone saying this like a mantra ? Its simply not true. I produce now since 2 years and make hefty profits with the skill at 4.
It's true and false depending on what you are building. If you have 1 billion isk and are happy with 10-20mil profit/day then PE 4 may suit your needs. But if you have 10 billion isk and want to see 50+mil/day profits you're going to have to build things that have better profit and are more capital intensive. Those items have significantly lower profit margins but significantly higher profits. Getting 5% profits on battleships can be up to 5 mil profit per battleship. With PE 4 that 5% becomes 0%.
There is also turn around time too. Lets say you have 50mil isk to work with. If you sell 50mil of item X in jita at 5% markup (PE 5) within 2 hours of putting the sell order up you can instantly put that 50mil back into manufacturing. If you try and sell it in Hek (A much smaller hub) it may take 4 days to sell but you get 15% (PE 4) margin. Compare the two. Jita asset timeline would be something like 50m (day 0), 52.5m, 55m, 58m, 60m (day 4). In Hek you would have 50m (day 0), 57.5m (day 4).
Don't get lost in the numbers, its the strategy that counts.
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