Saturday, 20 September 2014

The peril of ignoring my Internal Auditor

I'm rather pissed off at the moment two things happened on Friday, both are my because of something I did. I wasn't drunk, too tired or in any way incapacitated that I could use to explain this, I was just plain stupid for ignoring my internal auditor.

Mistake One

A mistake on one character meant I accepted a contract I should not have whilst I was doing a large courier contract move all because I wasn't paying attention when I saw the contract, I just accepted it. Sorted it out late last night but haven't had a chance to speak to my CEO and make sure he understands it was an accident and make sure we're good.

Mistake Two

But the biggest mistake I made on Friday involved Large and Capital Rigs and cost me, all up, nearly twenty billion ISK in wealth.

The story is long, involves buy/sell orders over four characters at various trade hubs in New Eden, and is not something I wish to share just now in detail. I have taken notes/screenshots and I may write up exactly how stupid I was in-depth for a later post.

But suffice to say, I should have listened to that voice in my head, whom I call my Internal Auditor, who crops up now and again when I'm playing EVE and about to do something obviously stupid but I am still going to...

Shortish Version

I enjoy making rigs, Large and Capital sized because they sell well and I've got good supplies, via Buy Orders, in a few locations of Salvage materials. Blueprint copies can be found easily for Tech 2 rigs and are usually priced well, often I get them for under their actual value. Profits are good on T1 and T2 variants and I've been very happy.

As a result of being undercut each time I added rigs for sale or changed active sell order prices I was undercut, usually by only a tenth of an ISK but as time wore on it was twenty thousand, hundred thousand or in the case of T2 rigs it was millions at a time.

Unfortunately I did not listen to my most vocal stakeholder when they saw what was happening and stop I kept going and I sold a lot of my T1/T2 rigs at less than my alarm level of 4% profit instead of my usual 15%/20%. I'm pretty sure I sold the majority at less than the actual cost price to produce but because I'd made them weeks/months using materials at the time I don't have records any more on the material prices.

To compound the errors I was making in rigs I also was trying to buy more rig blueprint copies, salvage materials and a few other things. I wasn't paying attention and bought more than I needed and in a couple of cases paid far too much for materials.


When the rigs started changing prices I should have quit, it was well after DT and I should have gone to bed but I didn't listen to my Internal Auditor and quit when I should have. The end result being I've lost nearly 20 billion in wealth in less than one day.

I've seen where I've gone wrong and I've learnt the lesson, fortunately this wasn't the RL stock market where it would have a seriously implication. 

That isn't to say this doesn't have an impact on EVE for me. I'm going to have to make this money back and a couple of manufacturing projects I was looking into I'm going to have to postpone until I do because I no longer have the liquid ISK available.

I need to make sure I don't make the same mistakes again and I've learnt a hard lesson because I didn't listen to my Internal Auditor.

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