These skills are really only needed for contract trading, you are given 5 public contracts normally.
Contracting level 4 – Grants 17 personal contracts open at one time
Corporation Contracting level 4 – Grants 50 public corporation contracts
Contract Trading is not in play as much as it once was but it should get a mention if nothing else. It is very expensive to branch into, costing upwards of ten billion just to get started. However the profits in the game are phenomenal and the time spend is minimal. The reason this method is outdated is that faction items are no longer solely on the contract market, they exist on the normal market now.
When you contract trade it is important to do so through a corporation. Why you ask? Well if you get your contracting skill up you can only manage 21 contracts total and you need to buy and sell with those 21. However if you use a corporation you are given 50 contracts with level 4 which you can add to the 21 personal contracts you can create. Basically it allows you to trade more contracts and make a better profit with quicker turnover.
Because contracts have no price history of items a small bump of the market would result in an item going from forty million to sixty million over night. Most items really didn’t change in price that much but the profit margins were much higher than that on the normal market for a few reasons. The main reason is that a player cannot edit a contract once it has been set up, so there is no penny undercutting. This is great because generally there was less competition, more players want to micromanage their trades so they stayed out of this market. There is also a larger initial cost in taxes to place the item up to be bought or sold which should be factored into the profit of the item. The initial cost depends on the price of the item, and if the item fails to buy or sell than some of that investment is lost forever, and only about half of it is returned. This cost can be quite substantial when you are moving billions of isk in a single contract.
The example item I will use for this one are faction shield hardeners almost all variety’s and factions. I would buy the mid-range ones for around twenty to thirty million and sell them for thirty-five to forty million. Sure it is only a profit of ten or so million, but I would turn over thirty contracts a day, and after taxes I was pulling in about five billion a month, per character, with less than fifteen minutes a day spent on placing contract orders. Now this is no longer the case the faction contract market has just about dried up while there are some trades to be made, with most of the items available from the market it is less likely to make decent turnover profit; though it is still possible to make some money from contracts.
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