Phileep's Christmas Goal(s)

About one year from today, I was able to afford my first rare, an easter egg which cost 68m. I somewhat half-heartedly set a goal of obtaining (not holding, but just wearing) a santa hat by Christmas 2012. Then, I was a newbie merchant and also was not actively playing, yet I still was able to obtain my goal. Now I have bigger fish to fry.

Goal: Successfully buy and flip a partyhat by Christmas Day 2013.

Week 0: 1366s/585m/138 Days/5.66m/14.3m
Week 1: 1363s/685m/131 Days/5.18m/7.7m
Week 2: 1372b/739m/124 Days/5.06m/8.9m
Week 3: 1389b/801m/117 Days/4.98m/7.1m
Week 4: 1414s/851m/110 Days/5.12m/8.9m
Week 5: 1421b/913m/103 Days/4.71m/103 Days/7.4m
Week 6: 1410b/965m/96 Days/4.58m/7.7m
Week 7: Skipped. Average daily profit will be factored into Week 6 instead.
Week 8: 1380b/1073m/82 Days/3.68m/17.4m
Week 9: 1349b/1195m/75 Days/1.99m/15.4m
Week 10: 1335b/1303m/68 Days/0.40m/22.6m
Week 11: 1282s/1461m/60 Days/10.4m
Week 12: 1544m/53 Days/13.0m
Week 13: 1635m/47 Days/21.0m
Week 14: 1782m/40 Days/16.86m/
Week 15: 1900m/31 Days/17.43m
(see rest of log to see progression from here.)

Purple partyhat, Yellow Partyhat, Green partyhat, Red partyhat successfully flipped. High enough wealth obtained for White, but not on one account.

Purple partyhat:

Spoiler:

Was it a very good flip, no. But was it "successful"? Yes. Goal achievement!

Yellow partyhat:

Spoiler:

Green partyhat:

Spoiler:

Red partyhat:

Spoiler:

Goals:
Red partyhat: 1664s  ACHIEVED
Max Cash (2147m): (Achieved across two accounts).
White partyhat: 2147s (Achieved across two accounts).

Total Wealth: 2423m

Days until Christmas: ----

Total Profit in 140 Days: 1838m

Average Profit per Day (total): 13.13m (is that bad luck?)



I hope by setting this goal officially I will be more likely to follow through with it. The most current week will always be written out fully. Previous weeks will be abbreviated in a single line using this: (Partyhat cost/wealth/days/daily profit needed/actual daily profit) so... (1366s/585m/138 Days/5.66m/---). The lines will be colored green if I successfully met the requried daily profit for that week, and red if I did not. Also, I will only be using forms of merchanting to get to this goal. I will not be staking, pking, pvming, stuff I shouldn't be doing, or scamming, nor will I use any forms of money making methods that violate Runescape TOS.

Updating log on Thursday afternoon. 8/16. Will be renaming the default week "Week 0" to show that it was before I began the challenge.

Made 100m in this week, which should be the highest I ever make for a long time, because this was the week I was most active for the entire summer. Though it was a one hit wonder, though, it significantly lowers the amount of work I will have to do in future weeks, so that's great!

Good luck with your goal! I'm going for my first rare too. I'm llike 350m away from it so I hope they don't start rising anytime soon. Although they'll probably will.

Gl on ur goal Phileep. Keep us updated so we can see how close u get. If you need any help buying items for merching (if u do) i will let u use my limit if needed.

Good luck on your goal aslong as your set to finish it then it should not be hard for you
Good luck!

Updated log with this week's progress (I don't expect to do any overnights tonight, for a good reason, so the amount will be the same regardless of whether I upload it today or tomorrow.)

Also, changed "actual profit per day" in the most current week to "Estimated Profit per Day" because it makes much more sense that way. Trust me. The Estimation will just be an average based off of the performances of former weeks.

P.S. It will be assumed, for the sake of argument, that a partyhat's margin is always 5m, thus if a price is 1372b, I will be shooting for 1367m.

I have updated the log with Week 2's success, proving (to myself) that I can in fact succeed even when I'm active for a lower amount of time and am doing slower flips. Also noteworthy is that I now require less than 5m profit per day to achieve my goal for the first time .

Week 3 has been posted and Week 4's requirements are the new headline. Unfortunately:

1) Purple partyhat (along with the other phats) rose quite a bit this week, thus my required daily profit is now a touch over 5m instead of a touch under

2) My average profit per day is dropping, however that was to be expected since I am much less active now, and will be much less active in the future.

That said, I'm still very glad with the way things are going, though there were some minor setbacks, my lines are still very much in the green. *waves*

Well, I wish you the best m8. Also, Partyhats margins can be 5m yes. However, make sure you keep track of the prices; since there are many rare-manipulating Fc's out there that may make the price rise/drop dramatically overnight even. So be careful.

Bro-Gf wrote:Well, I wish you the best m8. Also, Partyhats margins can be 5m yes. However, make sure you keep track of the prices; since there are many rare-manipulating Fc's out there that may make the price rise/drop dramatically overnight even. So be careful.

Thank you for the support, but I must also inform you that your warning is poppycock. The reasons are:
1) R Quark gives their phat prices in lines of course. R Quark veterans and newbies even recognize that the order of the phats is p/y/g/r/... so therefore not only would one phat have to be bought out, but all 4 of the sub-max phats would have to be, otherwise people would immediately dump the phat that was unusually high.

2) Phats are low volume ge volume, but not really low volume. Here's what I mean, perhaps 10 phats offers at most are on the ge at once. Let's assume they are all selling offers. So supposing the fc actually did succeed in spending 15b on their little buy-out they would indeed control the high price, however there are dozens of other players/merchants who also own phats and are willing to sell, but do not have offers on the ge. Therefore before the manipping fc could successfully sell off their stock, other merchants would majorly uc them and the price would rapidly drop (this is assuming that the phat was not already unusually low and ready to rise, because then it wouldn't be manipping, right?)

So even if a fc could muster ~75b to buyout all 4 colors of phats offers sitting on the ge, there are probably x5 as many phats actively in circulation that would also need to be bought out in order to achieve this. So the requirement is now 375b. To put it in perspective that is more than the richest known player in the game has (~300b, source: Clan quark) You also need to probably have at least 4 people to cover the ge limits. So perhaps if the fc consists of 20 players with 20b each, then yes they might be able to pull it off. I'm not holding my breath though.

P.S. I'd never flip a phat for 5m, it's not worth it, that's just the minimum margin possible basically, so that's why I'm making that assumption.

Updated log for Week 4. Overall, this has been one of my best weeks so far, as you can tell. The only bad part is that I thought I might break the 10m/day mark for the 2nd time since I had 913m on Wednesday Night, however today (Thurs) I had a pretty crappy day flipping and only broke even. Either way, I'm happy with the amount of profit I was able to get. What I'm most happy about though is taking a giant leap towards the Purple... finally it has stopped rising but my cash stack hasn't. I'll only need less than 4.75m/day to succeed at this rate.

P.S. I've created a Merchz log ( http://merchz.com/merchantlogs/phileep/ ) which may show some of my progress. Right now though, what I'm flipping is sort of a secret and I'd like to keep it that way- I am only uploading select flips right now, but I'm still taking pictures of other flips to be added at a later date.

Log updated, as promised. I'd come up with some witty comments, but it's late and I have work to do.

Well done Phileep keep it up

This week may be the first bust... either way it depends on what I end up certain items for. Also, I've bought 7 bonds, which I will either sell (if they go up) or use for an alternate account (if they go down/remain stable). Depending on what happens with both bonds, and my other items that I'm trying to sell, I may post this report late or I may skip it entirely and not give updates until next Thursday. We'll see.

I'm sorry for the lame results of last week. I felt the wrath of my two biggest [merching] losses of all time in a single day, so I felt more worried about saving my bank than saving face here. Either way now I'm factoring in my total wealth... I now have some money on an alt mem account which has been doing some serious flipping the past few days with some very handsome results (especially since it only started with 16m and now less than 5 days later it is up to 38m, without any trading from the main account, mind you!) I also have 10 bonds in my bank which I will be including at face value (5.5m/bond), ignoring the conversion fees because I plan on using them not selling them.

Time to stop beating around the bush- I'm up to 1073m. The other very sexy fact is that purple is down.  

First 100m+ week since Week 1. . Couldn't be happier. Well, I could be but....... I'm happy okay?!

Ah, I'm so close... technically I have my money spread out a little bit now, so I won't actually be able to flip a purple for another two weeks probably. Either way though, unless I do something completely stupid it is fact- I will succeed!

That said, I don't want to make this log even more dreadfully boring to you guys out there, or you "guy" probably (i.e. I have one fan) so I think I'll up the ante, though I don't know how high I wanna shoot. Possible goals:
1) Medium: Have the wealth to flip a red, 1850s. Required profit: 8.04m/day
2) Hard: Achieve a total wealth of 2147m. Required profit: 12.4m/day
3) Harder: Achieve a max cash stack on main account. 14.0m/day (and much harder, considering I don't transfer money from account to account alt has 105m for reference).
4) Insane: Flip a white partyhat. 2250-2325 15.8m/day (on a single account).

So, I'll be chewing it over myself... and if my one fan wants to give a suggestion that's cool too.

Heeeyy Phileep, I really admire your thread there. I believe you are a very experienced merchant seeing your flips and your posts.

I want to see you try to achieve max cash stack on your main account (3), as I believe you will be able to make lots of money off the partyhat.

Well, this week was pretty meh, 10m/day is not good at all for me... but the reason is because I lost 90m on a seismic flip. Did I panic, yes. Could I have lost a lot more, yes. A safe loss is sometimes better than an unknown.

The week was somewhat weak, but not awful. Either way I flipped a purple partyhat with outstanding success... dat 500k! (Nib, then price dropped so instant sold.) Even with this being not one of my better weeks lately, and with phats rising up slightly, I was able to barely escape with the necessary gains for my goals.

Purple partyhat:

Congratulations Phileep!!!!!

You're still miles ahead of me and I'm sure many others Phileep! Well done on that purple partyhat flip

Update: Yellow partyhat successfully flipped:

Spoiler:

CONGRATZ!

i plus repped that yellow hat. you deserve it for the great achievement!

A relatively normal Friday-Sunday was followed by epic flipping days Mon-Thurs.

Now, between all my accounts, I have enough for red =)

A 20m+/day week is awesome for me anyway...