caiboy117
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 Posted: Mon Sep 24, 2007 7:59 am Post subject: Free Runescape Money Making Guide |
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Free runescape money Making Guide
OK I figured that since there are already quite a few Runescape money making guides out there that are charging people to read essentially what should I feel should be free knowledge to Runescape players I felt I should write a quick, easy and free Runescape money making guide after I read one of the money making guides that people are actually charging for the other day.
Basics Tips for runescape money in Runescape
OK I will keep to the general theme of merchanting to make money in Runescape. If you don’t know what merchanting is then a quick explanation is you are the middleman between buyers and sellers. How do you make money out of being the middleman? Essentially you buy low and you sell high, buy in small quantities and sell in high quantities. Why sell in high quantities? Well in a nutshell the reason you can charge a higher price for items in large quantities (assuming there is demand for large quantities of that item) is because there are people out there that would prefer to pay a bit extra for Runescape items rather than waste what can be hours looking for loads of different sellers of the item. So essentially you are making your money because you’re providing people the convenience of selling in bulk. Now unfortunately much like in real life takes money to make money in Runescape with merchanting. Why? Because the basic premise of merchanting really requires you to be able to stock up on items and when your runescape money is invested in items you can’t take advantage of other good offers that might be going on, and often some items take awhile to sell, especially if you are looking for a good price and this means that your money will be tied up in these items for quite awhile and if you money is tied up that means that you ability to merchant is effective no existent. That said a good merchant really tried to merchant items that they can buy and sell quickly so that they don’t get caught in this very trap.
Runescape Money Making Tips
Now when it comes to making money in Runescape via merchanting here are a few tips you could use to help make more money:
Be Patient: Wait for the right price when both buying and selling.
Keep Cash on Hand: You never know when a good deal is going to pop up out of the blue.
Calculator: You will be making lots of trades and a calculator also helps for quickly working out prices.
Poor Investments: A merchant requires money at all times so you shouldn’t invest your money in personal items or long term investments unless you have enough money to continue merchanting.
Become a Member: Members of Runescape are generally more willing to pay higher prices for items because they generally get better returns from their items, so being able to sell to members and to merchant members items helps.
Start Small but Build Big: Start out with a couple of items that you are familiar with and over time build your contacts and slowly expand into other industries. When it comes to merchanting being a jack of all trades doesn’t help.
Focus: When you focus on one or two industries you can build a lot more contacts in terms of buyers and sellers and you will be able to move your products faster and in higher quantities and you will make more money.
Be Firm on your Prices: You should know the high and low prices of items your trade in; stick to them, if people really want to sell or buy they will buy or sell at your price.
Free Runescape Money Making Guide – Money Making Business
This is probably the most important part of this free Runescape money making guide. Now it is one thing to buy low and sell high but good deals are not always going to come your way and where you can make the real money is setting up somewhat of a Runescape business, and by this I mean rather than making one off trades with other Runescape players you should attempt to setup ongoing supply of items at the cheap prices and then you should try and build contacts with people that looking to permanently buy larger quantities of these materials. So essentially what you do is start building relationships with the players that are willing to supply you raw materials for cheap prices whilst building relationships with permanent buyers. As the old saying goes in business, it’s not what you know, it is who you know, this is true in Runescape money making as well. So keep in contact with your buyers and sellers, this way you can continue to make money from people that you know rather than having to seek out new deals all the time. Then with time you will build your list of contacts and names, and these become your business contacts. You should also probably keep a list of contacts that written down in a notepad as well for different buyers and sellers for different items so that you can continue to build this list of contacts and remember who buys what and at how much for so when you run out of friend spaces in Runescape you can continue to add new contacts to your business contacts list. You should keep this list in a safe place as well and try to keep it up to date and accurate because at the end of the day this will soon become an extremely valuable list of contacts, something you definitely don’t want to lose or slip into the wrong hands either.
Anyway that is my brief but free Runescape money making guide on how to become a Runescape merchant I hope you enjoyed it.
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