Jahooma
2008-03-31 18:36:29
The Grand Exchange: Little Known Facts + Money Making Strategies
Here are some little known tidbits that are very useful when using the GE:
1. If more than one offer for the same item at the same price is pending at the same time, an offer queue will form, and the oldest offers will be served first.
2. There are volume trading restrictions on many items. This ranges from being able to buy 100, 1000, or 25000 every couple of hours depending on how commonly that item is traded.
3. There is a time limit if you purchase an item on the Grand Exchange and want to turn around and sell the item right back.
4. The GE is updated once every day between 11:00 UTC and 13:00 UTC
5. A quick way to determine the going rate within the +/-5% is to buy one of that item at the highest price. You will buy the cheapest one for sale which then tells you what the price is for that item.
And now strategies for making money. These work best for rich people because a percent increase will be much more profitable to them.
1. Make money off of impatient people.
Basically you buy and sell within the +/-5% margin, buy low, sell high. Most people are not willing to test the market by continually putting up a sell offer and taking it down when it doesn’t sell. They will often try market price and then if that doesn’t sell, they will only test one or two times below the market price before selling it for -5%. So all you have to do is create a buy offer to collect all the things sold at low prices and then sell them for higher prices. Remember that there is a queue, so you may have to wait a little before the fish start biting.
The most successful version of this is to find an item that is really selling towards the upper end—one close(or at) the 5%. Then create a large buy offer at the market price. You will get tons of people cluelessly(not a word?) selling at market price. You can then turn around and sell those for a 5% profit. I was(and am) extremely successful doing this with uncut rubies.
2. Play the investment game
Invest in a particular item that you suspect will go up. The very best way to do this is to read the runescape news and invest in an item that you think will go up in price because of the updates. This makes the behind the scenes reports very important. Overall this strategy is usually not as effective as the first, although it can pay big time.
This last one will blow you away:
3. Create a monopoly (no, really!)
I made a thread about this tucked away in site discussion:
http://www.villavu.com/forum/showthread.php?t=27932?p=370073#post370073
In that thread I am making a list of supporters. Please post in there saying if you support it or why you don’t.
Hope you like my guide. Post any comments, criticisms, suggestions, etc.
Here are some little known tidbits that are very useful when using the GE:
1. If more than one offer for the same item at the same price is pending at the same time, an offer queue will form, and the oldest offers will be served first.
2. There are volume trading restrictions on many items. This ranges from being able to buy 100, 1000, or 25000 every couple of hours depending on how commonly that item is traded.
3. There is a time limit if you purchase an item on the Grand Exchange and want to turn around and sell the item right back.
4. The GE is updated once every day between 11:00 UTC and 13:00 UTC
5. A quick way to determine the going rate within the +/-5% is to buy one of that item at the highest price. You will buy the cheapest one for sale which then tells you what the price is for that item.
And now strategies for making money. These work best for rich people because a percent increase will be much more profitable to them.
1. Make money off of impatient people.
Basically you buy and sell within the +/-5% margin, buy low, sell high. Most people are not willing to test the market by continually putting up a sell offer and taking it down when it doesn’t sell. They will often try market price and then if that doesn’t sell, they will only test one or two times below the market price before selling it for -5%. So all you have to do is create a buy offer to collect all the things sold at low prices and then sell them for higher prices. Remember that there is a queue, so you may have to wait a little before the fish start biting.
The most successful version of this is to find an item that is really selling towards the upper end—one close(or at) the 5%. Then create a large buy offer at the market price. You will get tons of people cluelessly(not a word?) selling at market price. You can then turn around and sell those for a 5% profit. I was(and am) extremely successful doing this with uncut rubies.
2. Play the investment game
Invest in a particular item that you suspect will go up. The very best way to do this is to read the runescape news and invest in an item that you think will go up in price because of the updates. This makes the behind the scenes reports very important. Overall this strategy is usually not as effective as the first, although it can pay big time.
This last one will blow you away:
3. Create a monopoly (no, really!)
I made a thread about this tucked away in site discussion:
http://www.villavu.com/forum/showthread.php?t=27932?p=370073#post370073
In that thread I am making a list of supporters. Please post in there saying if you support it or why you don’t.
Hope you like my guide. Post any comments, criticisms, suggestions, etc.