Many of the items on the Grand Exchange are priced as they are because you lose them on death. Take the Guthan's set for example. Helmet: High alch = 61k GE Price = 1.2mil Platebody: High alch = 168k GE Price = 666k Both items are rare drops that can only be brought into the economy through Barrows mini-game. When a player's drop pile disappears, the helm is removed from the economy. The platebody, however, is more likely to remain on the player when they respawn. Less helmets in the economy, mixed with more players replacing helmets, equates to more demand and less supply, ergo higher price. By placing the Grand Exchange price as the basis for drop on death, you would end up with a system where prices fluctuate even worse than they do now. The helmet would be kept, meaning its price would drop and the platebody would rise, until a point where the prices intersect and the helmet begins to drop, and the platebody is kept, starting the whole process over again. Keeping the system stable keeps the economy stable. Guthan's set is unique in that the weapon has the lowest alch value, otherwise you are correct.