Requirments:
Code:
15m + Starter Cash
Membership (If you wanna roll in teh dough!)
A bit of Patience.- Starting Out & Setting Up -
Make your way to the grand exchange, and get use to it. Since the free trade up down flipping has become a lot more camping, and requires a little more attention. Get some of your money, I don't recommend using all of your cash for flips, as you never know if something may go wrong.
Refer to the picture:
I use the red 5 slots to complete my flips.
The gold slot is for conducting "Tests" prior to my flip.
I use the red 5 slots to complete my flips.
The gold slot is for conducting "Tests" prior to my flip.
This is a good setup, but it isn't a necessity. The next step is finding your ideal item(s). This truly depends on how much cash you have at your disposal. If you have 15-20m, what I would consider the bare minimum you could do runes, food (Cooked or raw), potions, bolts+arrows, or weapons (DDS, Gmaul, etc).
*When you have roughly 150-250M (Possible with less) you can move onto bigger items. Items such as armor (Tassets, BCP, DFS, Armadyl), weapons (BGS, SGS, whips) and many other items.*
- Breakdown -
15-20m: Runes, pots, arrows+bolts etc.
150-250m: Weapons, armors etc. (Can also combine with smaller flips)
150-250m: Weapons, armors etc. (Can also combine with smaller flips)
- Testing and Finding your Buy/Sell Prices -
This part is crucial, you'll be finding out how much you'll be buying and selling your item for. First find an item, make sure you have enough money to buy a reasonable amount. Once you have found the item buy ONE of that item for 5%over the market price. Make note of the EXACT price you paid for the item. This is going to be the price you'll SELL the item at once you have bought the item in bulk.
Now you're going to sell the item back 5% BELOW the the market price. This is how you're going to find the price you're going to BUY the item at, when you purchase it in bulk.
Now you're going to sell the item back 5% BELOW the the market price. This is how you're going to find the price you're going to BUY the item at, when you purchase it in bulk.
Sell price is on top, buy is on bottom. Use this as a reference if you're confused.
- Buying & Selling the Item in Bulk -
This is the easy part, just make sure you know your buying and selling prices. Put an offer in the grand exchange with the correct buying price, ALWAYS add a few gp to your buying price to beat your competitors, a few gp can make a difference.
This is me buying the BGSs, as you can see they buy quickly.
Once you get them, you want to sell them at your selling price.
Once you get them, you want to sell them at your selling price.
Once again, you can see that they even sell quickly.
Once they are sold you can check your history to see how much profit you have made, in this case I have made 150k. This took about six minutes, 150k is low though, you'll usually be making much more. This was just for sake of an example.
Once again i'm showing the buying and selling price to make it as clear as possible, you can also calculate the profit here.
Grand exchange trade limit and other info
Refer to:
http://runescape.wikia.com/wiki/Grand_Exchange
[align=center]- TIPS -
Refer to:
http://runescape.wikia.com/wiki/Grand_Exchange
[align=center]- TIPS -
*Always buy/sell a few gp over/under your buying/selling price*
*Don't flip with all your money*
*Don't use all your money on one flip, do multiple flips to maximize profit*
*Do something else! Homework, watch movies, it doesn't require 100% attention*
*Don't use the same flip over and over again, it becomes slower*
*ALWAYS do a test, things can change quickly*
Enjoy!
-Systym [/align]