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Friday, June 12, 2009

The Runescape Grand Exchange Secrets

Runescape players complain that they will never be able to make money because of the introduction of trade limits, which limit the amount of cash you can gain in Runescape in a trade. I have seen many players do so and in their anger, they became blind to the fact that Jagex had already solved the problem by the introduction of The Grand Exchange, a feature that changed the game and the way it is played.

The Runescape Players were angry at the makers of the game because they had spoiled it with the removal of wilderness and free trading. They looked at jagex as their enemy who took all the fun from the game. Why? Because most of them made money by merchanting.

What is Merchanting?

Earlier, Players made a lot of moment by following a simple concept: Buying For Low, Selling for High But by the removal of free trade, a limit was put to how much gold a player could profit (while trading) every 15 minutes. But the players didn't notice that jagex had very cleverly stopped Real World Trading (Selling gold for real cash) and also introduced a system where people could make a lot of money in Runescape, without spending lots of time. Yes, it was the introduction of The Grand Exchange.

Concept of the Grand Exchange is simple. Every item has a market price. This item can be bought between a range of 5% below the market price and 5 % above the market price. So if an item costs 100 gold, you can buy it between 95 - 105 gold. Now the middle price of the item rarely stays constant. This is governed by the simple law of Demand and Supply . Now you can sell or buy an item globally. Once you set up an offer in the Grand Exchange, the system will try to find the closest match as soon as possible. Once it is found, your offer will be complete and you can have the item you bought or the amount of gold you sold it for.

But there are certain limits in the Grand Exchange too. This has been done by jagex to prevent rich players to 'corner the market' by putting up a buy offer for buying thousands of quantity of that item, hence increasing the demand by a lot and raising the price of the item. Even though you can put a buy offer for as many items as you want ( or can afford) in the grand exchange, it will treat the offer as a limited one. Suppose the limit for an item at 100 gp is 1000. If you decide to buy 5000 amount of that item, The Grand Exchange will treat it as an offer for 1000 numbers of item and match it. It is only after four Hours that the Grand Exchange will try to find matches for another 1000 copies of that item and it will continue till all of your offer is complete. Therefore you will have to wait at least 20 hours till the offer is complete. The item limit depends on the type of item it is. The limit for bows is around 1000 bows (of the same kind) per four hours, armor is 100 armor per four hours (of the same kind). Potions are nearly 500 and other stuff depends on their prices. But there is no limit at all on the number of items that you can sell per hour.

How to Merchant Using The Grand Exchange

Merchanting in the grand exchange is easy if you know how. There are many different ways. Some of them are simple: Buying the item for lowest and then selling it for maximum. But this isn't efficient at all. Whenever you merchant, you should allow yourself 7-8% profit. No More, No less. This ensures a steady income, yet a good one and without major time loss. One thing very important in merchanting is to add your profit everyday to your capital. This will make you a lot more money than just merchanting with the same amount of money.

Example: Allowing a 10% profit (just as an example), a person merchants using 10million gold and doesn't add his profits to the merchant capital. He will achieve 20 million gold in 10 days. But if he adds his profits to the merchant he will achieve 20 million gold in just 6 daysHence in this case, it was 40% more efficient to add profit to merchant capital.

Deciding what to merchant is perhaps the most challenging prospect. Ask yourself, is this item in demand, will people be willing to sell this item for a low price and still people buying it high for too? Is this item good enough? What impact does it have on the game?

Ask these questions and you will understand what item to merchant in.


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