26 November 2007 - The Grand Exchange

[Jeffery]

The Grand Exchange:

 

 

 

Are you fed up of trying to be heard above a crowded Varrock Marketplace? Are you tired of organising to meet players who want to trade with you? Do you just want to get on with the things you enjoy, rather than standing around, hoping that someone wants your full splitbark armour?

 

 

 

If the answer is "yes" to any of those questions, then Brugsen would like to direct you to his marvellous new Grand Exchange! This huge establishment is home to a RuneScape first - an item marketplace - where members and free players can buy or sell a huge range of items.

 

 

 

Using the Exchange couldn't be any easier:

 

 

 

Bring items you wish to sell or money to buy stuff with.

 

Speak to one of the Grand Exchange clerks to either put items up for sale or to make a bid on any items.

 

The clerks will take your items or money and look for a matching bid/sale to match you up with.

 

You may have to wait for your bid to be accepted or for the clerks to find a purchaser - 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.

 

Members are able to make six offers for sale or purchase at any one time, while free-to-play adventurers can have two. To make best use of these, Brugsen has advised his clerks to accept stacked and noted items; for example, 1,000 cut diamonds would only take up one slot, allowing you to make five other trades at any time!

 

 

 

The clerks also have the ability to convert armour into 'sets', which will only take up one slot. To find a list of the armour types that can be made into 'sets', visit the Knowledge Base article.

 

 

 

Market Prices in the Grand Exchange:

 

 

 

There is a limit to the amount you can buy or sell items for in the Grand Exchange, which is generally set at 5% above and below the 'market price', and it is impossible to buy outside of these boundaries. This will create a stable economy that cannot be abused by players who seek to manipulate prices to the disadvantage of others.

 

 

 

The market price is affected by any trade that occurs in the Exchange. If an item frequently sells for more than the market price then it will rise in value, but if it consistently sells for less than the market price then it will go down.

 

 

 

Initial market prices for items were decided after extensive research by Brugsen and his market experts, so should be very close to the item costs you are used to.

 

 

 

This market price will not only be used in the Grand Exchange. You will find that the value of staked items in the Duel Arena will also change, as will the player stock in the shops of RuneScape.

 

 

 

Keep an eye on item values to make sure you are buying or selling at the correct time. Reading the market and anticipating when it will go up or go down is an art in itself! However, the alchemy value of items is NOT affected. So, whatever you do, DON'T go high-alching your party hat! You'll still only get 1 gp, and you wouldn't like that...

 

 

 

For more details on the Grand Exchange and market prices, chat to Brugsen or the Grand Exchange Tutor for a tutorial. There is also a lot of information and some FAQs on the Grand Exchange Knowledge Base page.

 

 

 

 

 

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In other news...

 

 

 

When buying items from the 'player stock' tab in shops, prices will now be based on whichever is highest: the predefined prices or the Grand Exchange price. This change is necessary because the shops were a way that players could covertly transfer wealth. Selling items into shops or buying from the 'main stock' tab in shops will still be based on our predefined prices, though some shops have had slight changes to the prices that they will buy and sell items at.

 

 

 

Due to player feedback, we've added a fifth registrar to the duel tournaments. We've also adjusted the tournament ranks at which you can join up for them. Hopefully, you should find that starting your career in duel tournaments is a little easier and the majority of players will have access to two registrars, pitting them against players of a more suitable level.

 

 

 

The duel tournament worlds have also been adjusted. Please check the world list for the latest worlds which tournaments are running on.

 

 

 

The minimum tournament rank to get on the Hiscores has been reduced to 1,800 so more players can track their progress. If you don't initially appear, you will have to login if you have a rank above 1,800.

 

 

 

Discuss ;)

[jonni]

based on view count, I guess you beat me :P

 

 

 

Looks good update!

[Dormado]

1st post GTW!!1!!! sounds good, i'm on my way there

[Jeffery]

i like the way i'm ranked in duely without trying :)

[Althalus]

You guys are fast, guess we'll just have to wait and see. Sounds like a good time.

[qeltar]

Interesting.

 

 

 

Forcing people into trading ranges eliminates many abuses. It also will make the market rather slow to adjust at first....

[woopidoo2]

You guys are fast, guess we'll just have to wait and see. Sounds like a good time.

 

 

 

I went to General to post it too, but there were 2 topics already. :P

 

Refreshing, lets see what this update looks like.

[R_2_H]

Nothing in that news about raising the staking cap. :x

 

 

 

But still, looking forward to checking the Grand Exchange out. =D>

[jonni]

Hmm, I think jagex now control prices :|

[Ghost-Knigth]

Seems as a well-thought update. No more the same need for spending tons of hours getting onto world 2. :P

[sparky1_2007]

meh, im gonna keep hunting :P i got nothing to sell there really

[Avid43]

Would someone beable to post a few sceenies of interface etc. please as im not gonna be home from work for another 2 hours. :cry:

[ChalieCokedIt]

now to sell my bows =)

 

 

 

Perfect timing for update i just got home.

[jonni]

"though some shops have had slight changes to the prices that they will buy and sell items at."

 

 

 

Gf bone bolts?

[dragon312]

where is the Great Exchange?

[FooK-A-Ji]

Not bad, now I have something to check out when I come home.

 

 

 

The way it works hasn't surprised me, there are numbers of old and new rpg's with similar trading techniques and instances.

 

 

 

Allthough mark my words, it won't be long before a new wave of whining and moaning will re-surface if I know the RS community.

[Ghost-Knigth]

where is the Great Exchange?

 

 

 

Take 2 minutes out of your life and read at the KB.

[elementz_m]

i can finally get rid of those prayer pages, cluttering up my bank. will visit it when i'm done ranging a bit more.

[lordkafei]

Full-blown price controls... I never thought I would live to see it. :-k

 

 

 

I'm loading it up with some stuff and going to bed.

 

 

 

Should make price guides mostly obsolete. :shock:

[Dravenstormn]

we need to find out what the GE says your "rares" are worth. how much does jagex say the party hats and santas are actually worth now

[Mak_1027]

Been waiting for this ....I am not one to stand around trying to buy and sell stuff .....so this should make cleaning my bank much easier ...so many potions....so many sets of full black from treasure trails ....hope this is as good as it sounds.

[Dravenstormn]

 

Allthough mark my words, it won't be long before a new wave of whining and moaning will re-surface if I know the RS community.

 

 

 

i second that one Fook

[Jeffery]

lol lookie

 

 

 

 

 

 

This is my serious face

[Cabbage_Boii]

1 sec checking how much santa sells

[Dragontotem]

this just means more work for us :|

 

 

 

*secretly jumps for joy*