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Hawk

Money Making Rewrite

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I found an error in smithing in the steel bars part. It says "make sure to but twice as much coal as iron"

 

It should be

"make sure to BUY twice as much coal as iron".

 

-helping again, Jake

Thanks, fixed. :aware:

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Sorry for the lateness, I had exams :wizard:

 

Here it is: Grand Exchange Merchanting.

 

 

There are two methods here:

1) Small item merchanting

2) Large item merchanting

 

 

 

GRAND EXCHANGE MERCHANTING

By Entrility

 

Method One:

This method is more for people with less money looking to build up. It is recommended you start with at least one million gold, since you only make up to 10% profit. First, you need to find a good item to merchant. Head to the Grand Exchange (abbreviated as GX or GE) database on the Runescape main page:

newbitmapimage5sq5.png

From there, search for a good item to merchant. A good place to look is on the top 100 most traded items list, which is found on the GX Database main page. When you find an item, go to it's data page to get a good look at it. Here's what to look for:

newbitmapimage6ny1.png

For example purposes, we will use the fire rune as our item.

Here's the information:

1) The name of the item.

2) The current market price range.

3) This tells you how many days are shown in the graph. You want it set to one month.

4) This is the panel that allows you to switch the graph between one week and one month.

5) This is the graph. It shows price fluctuations over a period of time.

 

In this case, the fire rune has a market price of 9gp, a minimum price of 9gp, and a maximum price of 10gp. Over the month prior to when this screenshot was taken, May 22nd of 2008, the price did not fluctuate at all.

 

Now head off to the GX in game.

newbitmapimage4md1.png

 

Now, for the tricky part. However, before you invest all of your cash, you should do a test run. To do this, take a smaller amount, such as 10,000gp (10k). Buy as much of the item as you can with your 10k. In the case of the fire rune shown above, buy as many fire runes as you can with 10k at market price. After you've bought as much of the item as you could with your 10k, sell all of it for one gold more, so 10gp each. Here's how you can tell if the test worked. If it took you more than twelve hours to receive 10,000gp's worth of your item, or more than one day to sell your 10,000gp's worth of the item, you should try a different item, or different business plan. If possible, try lowering the prices at which you bought and sold the item, or the opposite. Once you have completed your test, take all of your cash, and purchase as much of the item as you can, then sell it all for a little bit more. This can take time, though no longer than a weak for amounts of items smaller than 200,000.

 

Some places to look at when finding an item:

1) The list of 100 most bought and sold items in the GX database.

2) Items which are used commonly by people.

3) Items with equal amounts of supply and demand. If people want more of the item than what's available, or if there's more product than people want to buy, you'll have a tough time either buying or selling.

 

Remember:

1) ALWAYS test before you invest all your money!

2) Check the GX Database for price fluctuations, as they may interfere or help with your buying and selling!

 

Method 2:

 

For this method, it is recommended you have a lot of cash available to you. You need to be able to buy rarer items, from Guthix Armour to even a Party Hat. This is also more dangerous than the first method, though with the risk comes a greater reward!

 

First, go to the GX Database, and find a high priced item. You are looking for an item that happens to be in a slump. If the graph shows that the price of a Santa Hat has been dipping to low prices, you should jump right on it. Buy a few of them, and wait until the price goes back up. That's basically all there is to it.

 

This is similar to the stock market. When the price of a 'stock' goes down, you start buying it. When the price goes back up, you sell it. Taking advantage of this wave of supply and demand is the key to being successful here. If supply goes above demand, the price of the item will go down. If the demand goes up above the level of supply, the price of the item will go up.

 

Overall:

Buy when the price goes down and sell when the price goes up. This is the essence of merchanting.

 

Remember:

1)CHECK THE PRICES! If you lose your money because of ignorance of the item's price history, you can only blame yourself. Know the prices at all times.

2) Again, use your brain and common sense. It's your money, not someone else's. Again, if you lose it, it's YOUR fault.

 

 

 

 

 

That's about it. Well... here you go :ph34r:

 

EDIT: I'm submitting my GX bit to Draynor.net, as well.

Edited by Entrility

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Great! :aware:

 

Overall, the guide looks great. I don't want to bother reading through the massive guide for minor spell checks, but it looks like there are no glaring errors.

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Great! :)

 

Overall, the guide looks great. I don't want to bother reading through the massive guide for minor spell checks, but it looks like there are no glaring errors.

I have checked with Word, FireFox, and my own eyes, so I don't think there are any. Anyone try to prove me wrong? :aware:

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Found a small error in the last sentence of the paragraph just below the map of the Grand Exchange:

 

This can take time, though no longer than a weak for amounts of items smaller than 200,000.

 

"Weak" should be "week."

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Fixed the messed up word. :aware: I didn't see any more mess-ups between 'weak' and 'week'.

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Why do you still have the shark method up as a way of making money, it is impossible now that prices have changed!

Changed it around to say the only possible way to make money with cooking is to fish it yourself.

You probably hate me right now but I'm not giving up, you would make more of a profit with fishing if you sold raw. The only way to make money with cooking is by making high level pies. Sorry for being a nuisence.

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Why do you still have the shark method up as a way of making money, it is impossible now that prices have changed!

Changed it around to say the only possible way to make money with cooking is to fish it yourself.

You probably hate me right now but I'm not giving up, you would make more of a profit with fishing if you sold raw. The only way to make money with cooking is by making high level pies. Sorry for being a nuisence.

Well, it is a COOKING section for a reason, so that is the only way to make money with cooking. Notice how it says sell raw in the FISHING section. :aware:

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Oh, one more thing.

 

When this guide does get uploaded, can we get rid of these guides:

 

How to Make Money - This is somewhat outdated, and covered in this guide anyway.

Freeplay Merchanting - This is incredibly outdated, and is covered in this guide.

Making Money with Farming - Coivered in this guide. I'm not sure if it's outdated or not.

Merchanting - Way outdated.

World 1 Trading - Could be included in this guide, but outdated still.

World 2 Trading - Same as above.

 

There's no need to have a bunch of outdated guides hiding a better, more up-to-date one :aware:

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Under Dust Devils it says that they can drop a Dragon Chain body which you can sell for 10m. But under the Kaphlite Queen you say you can sell the Dragon Chain for 12-14m. You may want to fix this. :aware:

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Thanks demon, don't know why I forgot to change both prices. :aware:

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Also, I make good money by mining gold ore in the crafting guild, might want to put that in the mining section, you don't have anything about pricey gold ore.

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You should edit the mining section, the part about trading with 1k and the iron ore. This is no longer possible due to the 3k trading limit. Try editing it, or saying to offer a lower price; again due to the 3k trading limit :aware:

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Another way to get money by Cooking; Wild Pies. Buying everything from shops (except Chompy at GE max. price), you'll make 1,281gp per pie even when sellling the pie at lowest price. See spoiler for prices' breakdown.

Wild pie

 

A triumph of man over nature.

 

Current market price range:

Minimum price: 1,609 Market price: 1,693 Maximum price: 1,777

 

Change in price:

7 Days: +15.5% 30 Days: +50.3%

Buying everything possible at shops:

 

Raw rabbit meat - 20gp (Bought from Oo'glog Food Shop -> Oo'glog Bank)

Raw bear meat - 8gp (Oo'glog Food Shop -> Oo'glog Bank)

Pie dish - 4gp (General Store at Gnomecopters -> Bank Deposit Box at Gnomecopters)

Pot of flour - 14gp (Port Khazard -> Bank Deposit Box)

Bucket of water - 6gp (Shantay's shop at Shantay Pass -> Shantay Pass Bank)

Raw chompy - 276gp (Max in GE)

Total cost - 328gp

 

 

Buying everything max. price in GE (prices from July 19th 2008):

Note
:
No guantaree that these items are sold on the Grand Exchange is given.

Raw rabbit meat - 102gp

Raw bear meat - 76gp

Pie dish - 30gp

Pot of flour - 50gp

Bucket of water - 9gp

Raw chompy - 276gp

Total cost - 543gp

 

 

 

 

 

 

@yankeeboy254: It's still possible in members... I think?

@VeniVidiVicious: Yep, I think it's worth adding a word or two about Gold mining - Crafting Guild, Karamja, TzHaar and Keldagrim.

Gold ore

Minimum price: 586 Market price: 616 Maximum price: 646

7 Days: +27.5% 30 Days: +31.3%

Edited by iFree

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I was looking at the guide and I noticed you put eyes of newts as a members thing. I it is Non-mebers as well you can buy them for 3 coins each in the Port Sarim magic store and you need an eye of newt to complete the quest 'witch's potion' which is Freeplay quest. Nice guide though.

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Fixed the mining section, added some gold notes, fixed the Eyes of Newts, and added the Wild Pies section.

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We won't need to get rid of those guides. With the Wilderness guides sal just put a note saying they were outdated. We don't need to get rid of them.

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We won't need to get rid of those guides. With the Wilderness guides sal just put a note saying they were outdated. We don't need to get rid of them.

Unlike most of the wilderness PKing guides that are outdated, the guides Entrility listed are guides that are covered completely in this guide.

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Somethings missing which I feel could be added:

  1. 1.snake killing, mos les harmlous 2k per hide
  2. 2.Ghaark hunting 120k an hour I think - hunter
  3. Pest control- herb packs are 120k gp an hour with decent team.
  4. Barb Assault - spending queen point on granite body 60k proffit.
  5. Granite mining-120k an hour bank 500 g
  6. Trouble brewing, "stuff"kit great for money via brewing.

 

And for cooking I heard that the mantas are cheaper raw because you burn a lot. I heard 94+cook + gaunts = proffit.

Edited by powerninga88

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