If this is the right section for you, then good on you! It means you have already had a taste of what being a millionaire means. Now lets take that million and double it!
You saw from that last section how easy it was buying all those cowhides and tanning them for a quick profit, or if you are just starting the guide from here, be assured, it's easy.
If you thought that making that first million was easy, then prepare to be amazed at the speed you can double it! You can double your first million, and you only have to stay on Runescape a few minutes to do it! Yes! You heard correctly. It will only require you to stay on Runescape for a few minutes to get that second million!
For this next method to getting 2M, you need to position yourself at The Grand Exchange, the trading capital of Runescape. Here we go!
Riding the Roller Coaster
What if you were told that you only had to log into Runescape for a few minutes, and the next time you logged back in, you would have 100K more GP? Sound like a dream? Well dear reader, it's reality now. Woohoo! With the introduction of the Grand Exchange, buying items for a low price and selling those items back for a higher price (merchanting) has never been easier! What does that mean for you? That means its never been easier to make money!
Its pretty simple. Here's how it works:
1. Make sure you have at least 1M.
2. Look in the Grand Exchange for an item that is in relatively high demand, but at the same time easy to get.
3. Make sure the minimum and maximum price for that item varies by at least 10GP.
4. If you were to spend 1M, make sure you could buy around 10000 of that item.
5. You spend all your money (which is hopefully 1M by this point) buying bulk (basically meaning, a lot) of one item, buying at the lowest possible price.
6. Eventually( if you picked an item that can be easily supplied) your order will be filled up.
7. Now take the same items and place them in the Grand Exchange, but sell them for the maximum (or at least near it).
8. If you bought 10000 of the item, and made sure your buying and selling prices varied by at least 10GP, then congratulations! You have just made 100k profit! And all you had to do was place an order to buy the items, and place an order to sell the items!
Note: Buying the items works best on the weekdays, or when not much players are on Runescape. Selling the items work best on weekends or times when there are a lot of players on.
Here's an example of putting the previous business model into action:
1. I made sure I had at least 1M.
2. I found clay to be in high demand because players hoping to make soft clay are buying clay like hotcakes, and players looking to make their first 100k are mining clay, so it's easy to buy as well.
3. I made sure the minimum price and maximum price of clay varies by 10 GP.
4. Before spending my money, I made sure I had enough to buy 10000 Clay. I did.
5. I bought 10000 Clay at the lowest possible price, for 70GP Each..
6. I went to watch some TV, train some of my combat levels. Before I knew it, my order was filled up.
7. I took out the clay that I just bought, and I put it back in the Exchange, asking for the maximum price. I went and trained my combat skills a bit more and waited until the afternoon when I know more players log in after getting back from school. Presto! Someone had bought my clay I placed at maximum price because there was a shortage of it in the Exchange since more people are there to buy them.
8. I bought the clays at 70GP ea, and sold them at 80GP ea, and I had 10000 of them. So I just made a 100k profit! And all I had to do was place an order to buy the items, and place an order to sell the items!
Yes! It's that simple! Try to aim for a 100K profit with each transaction.
Some good items to exchange for a profit are:
- Clay
- Cow Hides
- Soft Clay
- Normal Logs and Yew Logs
- Leather
- Big Bones
Some items are more expensive (like Yew Logs and Big Bones), so you can't buy 10000 of them. But they have a big variation in the maximum price and minimum price. So if you can only buy 3000 of them with 1M, chances are their maximum and minimum price vary by 35GP, so 3000 X 35 = 105K, meaning you can still make the same profits with the expensive items as long as they have a big variation between their minimum and maximum prices.
Now remember, if you can make 10 of these 100K profit transactions, then viola! You have succeeded in doubling that first million!
From here on in, you could make millions a week by just logging in once in that week! Read the next section to find out how!
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