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The Grand Exchange
- The Grand Exchange
|The Grand Exchange is available to everyone, and can be accessed on any world. Please be aware that all trades completed through the Grand Exchange are FINAL! You cannot undo any trade.|
The Grand Exchange is a large market area in Varrock, the busiest and most populous city in RuneScape. The Grand Exchange can be used to buy or sell almost anything. Using this system, players are able to buy and sell goods to other players across all worlds at any time - eliminating the need to meet up with players to buy or sell items. Once an offer is made, the player is free to do as they please, and once the transaction is completed, he or she need only visit the nearest bank to retrieve their money or item(s).
The Grand Exchange is located in Northwest Varrock. There are several ways to travel to the Grand Exchange, such as using the Varrock teleport in the standard spell book, a charged ring of wealth, the dwarven cart system or teleport to Edgeville with a charged Amulet of Glory and walking east under the tunnel, which requires 21 Agility.
Before using the Grand Exchange, a player needs to go through a tutorial, which can be done by speaking to either the Grand Exchange Tutor or Brugsen Bursen, located at the Southern end of the Grand Exchange.
Brugsen Bursen (pictured to the right), the founder of the Grand Exchange, gives a longer, more interesting tutorial. He also explains the history of the Grand Exchange.
The Grand Exchange Tutor provides a more concise tutorial.
Around the central ring of the Grand Exchange are a number of other people, each of whom is an expert in specific goods. A player can speak to these people or Brugsen Bursen, who can give them information about the current guide price of certain items. As the prices of these items will change over time, it's a good idea to check with them regularly to figure out how much their prices fluctuate. These people are marked on the minimap in the following way:
|Hofuthand - Weapons and Armour
Hofuthand the dwarf is an expert in armour and weapons. He can tell you the prices of individual items or complete sets of armour.
|Bob Barter - Herbs
Bob has come all the way from Ardougne to buy and sell herbs. He can tell you the prices of many tradeable cleaned herbs. He'll also decant your potions into 2-, 3- or 4-dose vials.
|Relobo Blinyo - Logs
Hailing from Shilo Village, Relobo uses his people's extensive knowledge of trees to track the prices of common logs, which he is more than happy to share with you.
|Farid Morrisane - Ores
Farid is the son of the infamous Ali Morrisane of Al Kharid. His specialty is ores, and you'll be hard-pressed to find a more knowledgeable adult or child.
|Murky Matt - Runes
Even pirates are interested in trade, and Murky Matt's dealings with the mages of Lunar Isle has left him with a hefty stash of runes. He can tell you all about the state of the rune market (including essence).
Grand Exchange clerks dressed in blue and bankers dressed in gray are located at four booths located in the North-West, North-East, South-East and South-West corners of the Grand Exchange
The Basics of the Grand Exchange
At its core, the Grand Exchange is a very simple system, and items can be bought and sold using the following steps:
- Bring the items you wish to sell or money to buy items.
- Speak to one of the Grand Exchange clerks to either put items up for sale or to make a bid to buy items.
- The clerks will take your items or money and look for a matching bid/sale.
- You may have to wait for your bid to be accepted or for the clerks to find a buyer - then again, it could happen in moments!
- You will receive a message when the trade has been completed, and you can go to the Grand Exchange or any bank to pick up your purchases or money.
Because the Grand Exchange never closes, the clerks will constantly try to find you a buyer or seller, meaning that the player can log off, train skills or participate in another activity and will be notified with a message that their Grand Exchange offer has been updated, either instantly or upon login.
You cannot buy or sell untradeable items using the Grand Exchange and there is a small handful of tradeable items that cannot be bought or sold on the Grand Exchange.
All of the trades that the Grand Exchange manages are between players. No items are ever made or destroyed - they are simply transferred from player to player. An offer to buy or sell will, therefore, only be completed if the Grand Exchange clerks can find another player to match the trade with. It is worth noting that the exchanges are anonymous.
To sell items via the Grand Exchange, you can simply talk to one of the Grand Exchange clerks or right-click on them and select 'Exchange'. This will bring up this interface.
This display shows whether or not you have any buy or sell offers currently in the Grand Exchange. Members can have up to six combined buy and sell offers running at any one time, while free players can only have two running. In this example, the player has no offers active.
You can then click on the 'sell' icon (shown to the left) to put an item up for sale. You must have that item or stack of items (you can use bank notes to sell large quantities) in your inventory. Each type of item you wish to sell will take up one of your offer slots.
You will then be presented with a new interface, which lets you choose an item from your inventory to sell. If you select a stack of items, it will automatically put the whole stack into the interface. If you chose to sell one thousand cut diamonds, for instance, your interface would look like the one shown to the left.
You can choose to increase or decrease the quantity you wish to sell by using the buttons underneath the 'Quantity' box, or the + and - buttons to either side. The button marked '...' allows you to type in the exact number you wish to sell. Clicking the numbered buttons will change it to that number. If you wanted to sell one hundred, for instance, you can simply click the '100' button. If you change the number you want to sell, but then decide you want to sell all of them anyway, you can put all of them back in by clicking the 'ALL' button.
You can see that the price of the item is automatically set at the current guide price (this value may change over time as the item sells for more or less, as detailed below). You can choose to raise or lower this by using the + and - buttons to either side of the price, clicking on the +-5% buttons to set the price to 5% higher or lower than this guide price, or by clicking the '...' button to set the exact price manually.
|Reduce quantity/price by one coin||Increase quantity/price by one coin||Reduce price by 5%||Set price to guide price||Set price manually||Increase price by 5%|
When you are happy with the price and quantity, you can click 'Confirm Offer' and wait for the results. If you change your mind, you can click the arrow in the bottom-left to go back to the exchange summary.
When your items sell, they may sell in chunks. In the above example, it is possible that the Grand Exchange will sell 200 diamonds to one player, 50 to another and so on. In this way, it might take some time to sell larger quantities. On the plus side, when your items sell you will always get at least the price you ask for - the downside of this is that if you set the price too high they may not sell at all.
When the Grand Exchange sells some of your items, you will be sent a message. You can go to the Grand Exchange or any bank (right-click a banker and select 'Collect' to access your Grand Exchange collection box) to check up on this and collect your cash. You can see how far along your offers are by checking the progress bar beneath each offer. Click here to read more about banks and your collection box.
You can then go to the Grand Exchange or any bank to collect your money.
You can keep track of your items for sale by chatting to the Grand Exchange clerks or right-clicking them and selecting 'Exchange'. This will bring up your exchange summary, where you can click on an offer to see its progress.
You can click on the coins in the bottom-right of the summary interface to collect your cash.
You can abort an offer at any time by chatting to a Grand Exchange clerk or right-clicking on them and selecting 'Exchange'. If you then click on the offer you wish to cancel, you can click on the red button at the bottom-right of the interface. If you have already sold some items in that offer, you will be able to collect your cash.
Buying items at the Grand Exchange is a very simple process that allows a player to purchase items quickly and without hassle. To start buying, either talk to a Grand Exchange clerk or right-click on them and select 'Exchange'.
When you are presented with a set of boxes, you can click on the 'buy' icon (shown to the left) to put up an offer to buy a number of items for a set price.
The interface to the right will then pop up.
In this window, there will be a flashing box with a magnifying glass, which will show the item searched when selected. You will also see an interface in your chat box. This interface lets you type in the name of an item to make an offer on.
To begin searching for items, simply begin typing the name. As you type, a list of items will appear for you to choose from:
If you wanted to buy cut diamonds, as in the example to the left, you can then click on the name of the item to select it. This will then close the interface and put that item into the offer interface in the main game window. As with selling items, you can then adjust the price you wish to pay and the number you wish to buy. You can add to the number you want to buy by clicking the numbered buttons. If you wanted to buy 2000, for instance, you can click '+1K' twice. You must have enough money in your inventory to make the offer, which will be taken from your inventory when you click 'Confirm Offer'.
|Reduce quantity/price by one coin||Increase quantity/price by one coin||Reduce price by 5%||Set price to guide price||Set price manually||Increase price by 5%|
The Grand Exchange will always try to find you a good price, and it may cost you less than you have offered. You may end up buying from a number of players at different prices, but they will never cost more than you have offered per item.
Just as when you sell items, you can keep track of your offer by chatting to the Grand Exchange clerks or right-clicking on them and choosing 'Exchange'. This will bring up your current offers.
When the Grand Exchange finds some of the items for you, you will be sent a message exactly as you would if you had sold an item. You can go to the Grand Exchange or any bank (right-click a banker and select 'Collect' to access your Grand Exchange collection box) to check up on this and collect your new property. You can see how far along your offers are by checking the progress bar beneath each offer. Click here to read more about banks and your collection box.
You can abort an offer at any time by chatting to a Grand Exchange clerk or right-clicking on them and selecting 'Exchange'. If you then click on the offer you wish to cancel, you can click on the red button at the bottom-right of the interface. If you have already bought some items in that offer, you will be able to collect them.
There are some cases in which an offer will not complete; you can click here to find out why this might be.
Some items, typically armour, can be converted into a single item 'set' to make it easier to purchase or sell them as a whole, rather than having to wait for someone buying or selling each separate part. There is no charge for converting armour into sets. This also has the advantage that you can then sell the whole set and only use one of your trading 'slots'. To convert armour into a set, talk to a Grand Exchange clerk.
You can convert a set back into its parts (so you can use it!) in the same way.
Beware! Right-clicking a set and choosing 'Destroy' will not convert it back into its parts. You must talk to a Grand Exchange clerk to change a set into useable armour.
Not all armour can be combined into sets, and you must have all of the items required in your inventory, so you should check the following list before trying to exchange your armour into a set:
* Barrows armour sets can only be made from undamaged armour.
Your Trade History
Successful merchants and traders will know that the key to making profit is to know the market. You can keep track of prices by checking back with the experts around the Grand Exchange and Brugsen Bursen, and you can also keep track of your last few completed trades at the Grand Exchange. You can do this by chatting with one of the Grand Exchange clerks or right-clicking on them and selecting 'History'.
This shows your last five trades: the type of offer (bought or sold), the item, the quantity, and the price (what you paid or won). Trades will only show up in this interface if you have collected your items and/or cash - this will include trades you have aborted.
A player with a good knowledge of the current prices of items and how their trade history has worked out will be able to make the greatest profits at the Grand Exchange.
The RuneScape Game Bar
It is possible to keep track of your Grand Exchange offers when logged out of RuneScape by downloading the RuneScape Game Bar. This keeps you up-to-date with every sale or purchase that is made from your Grand Exchange account, as well as offering you an RSS feed of RuneScape news, links to useful RuneScape pages, and a search bar for the Knowledge Base.
The Grand Exchange element of the Game Bar will automatically update every 10 minutes. You may manually refresh the toolbar by clicking 'Refresh Toolbar' from the RuneScape dropdown menu.
Main article: Website - Grand Exchange Database
There is also an online version of the Grand Exchange Database which provides trade history and volume data. Which is very useful for players to see how much or how little they payed
1. What affects the price of items?
As you buy and sell, you'll probably notice that items have a tendency to change their guide price. This is based on how much value players put on those items. If an item is hard to get and very useful, you'll probably see its guide price increase, as buyers are willing to pay more to make sure they get some, and sellers set the selling price higher than the average.
This is also true of common, less useful items, which may decrease in value.
This is called the Law of Supply and Demand.
- If an item is in high demand with low supply, the guide price will increase.
- If an item is in low demand with high supply, the guide price will decrease.
- If the demand for an item is matched by its supply, the guide price will remain fairly constant.
Note - the guide price is simply an indication of the average price of an item. A guide price does not affect how much you can sell an item for.
The guide price of an item can increase or decrease by a maximum of 5% every time we recalculate the price of an item. Normally, this recalculation takes place once per day. This means that there is little risk of an item's price plummeting or skyrocketing too rapidly. This makes it harder for players to manipulate prices and ensures that everyone gets a fair deal.
Prices are entirely set by players trading! There is no 'set value' that prices are based on, with the exception that a price will never rise above a shop's main stock price, or fall below the price a shop will pay for it. Note that shops will adjust their prices according to the Grand Exchange, so it is extraordinarily difficult to make a quick profit by buying from the shops and selling on the Grand Exchange and vice versa.
The guide prices of items are therefore not set by Jagex but by the players themselves! We are keen to keep a player-driven economy, so the prices are worked out using the supply and demand rules above. We will only intervene as a last resort, and only if we think price manipulation is going on, although the system has lots of safeguards to prevent that.
2. Does the guide price affect an item's alchemy value?
No. The alchemy value of an item has a separate, static value and is unaffected by trading at the Grand Exchange. The value of items that you keep on death is calculated using the market guide price rather than the alchemy value.
With all that said, get out there and make some profit at the Grand Exchange!
Note: If you are good at keeping up with what items are in high demand that stores sell you can make a quick profit in the Grand Exchange.
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