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    Long-term merchanting v1.0

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    Post by Noodlebrainz on 15th April 2012, 9:08 am

    Introduction
    Hello everyone, my RS username is Noodlebrainz. I am very new to this clan, and although I have formally registered to this clan, I have yet to talk to any of the members in-game who I am hoping to over the time. Despite being new to this clan, I can be of some use, and one of the ways that I can show this is by talking to you about long-term merchanting. Please note that this is my very first guide on money-making, but for the readers who are seriously committed in earning a lot of money, I STRONGLY urge you read this guide THOROUGHLY. I cannot guarantee you will make a profit EVERY time, but I will try to help you minimise losses.

    What is long-term merchanting?
    For anyone who is unfamiliar with the concept of merchanting, it is basically buying an item or items for as low as possible, and then reselling it or them at a higher price, hence earning a net profit. Anyone who has played Runescape for at least a little while knows that some items fluctuate in price and other items hardly change in price. Merchanting involves the items that fluctuate, otherwise merchants will have to wait for an update that would play in their favour when trying to sell items that never seem to change in price, which could be a VERY long time. The items that do change in price seem to change at different times of the year at different lengths, meaning some items can rise for a couple months whereas some can rise for a couple days only at a certain time of the year. Long-term merchanting involves the items that rises and falls in price over an extended period.
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    Post by Noodlebrainz on 15th April 2012, 9:38 am

    Why engage in long-term merchanting?
    Some people will ask: "Why wait for money from the future, when you can make money now?" That is a good question, however I am not here to discuss about making money from short-term methods. I am here to talk about how one can use long-term merchanting to his or her advantage. Long-term merchanting CAN have a number of benefits:

    -You can reach your financial goal
    -You can make lots of money without playing extensively
    -You can use short-term money-making methods at the same time
    -You can focus more on skilling
    -You can relax in Runescape or IRL, knowing that you will make a profit
    -You can share your knowledge with others

    When can I get started?
    In my opinion, anyone can begin the process of long-term merchanting. Some guides suggest you should have at least 1M. Note that this is ONLY a recommendation. However, I STRONGLY BELIEVE that people with larger sums of money than this recommendation, i.e. 10M or even 100M, can TRULY BENEFIT from long-term merchanting. That is not to say you should discard long-term merchanting as a money-making process for millionaires and richer only. There are some key knowledge that not everyone may be aware of, but even the poorest Runescape players can benefit from. So READ ON to find out what you need to know about long-term merchanting.


    Last edited by Noodlebrainz on 23rd April 2012, 2:53 pm; edited 7 times in total
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    Post by Noodlebrainz on 15th April 2012, 10:20 am

    What do you need?
    Long-term merchanting not only requires an investment of Runescape "gp", but also requires an investment of time.
    So here is what you need:

    -A Runescape account with any sum of money, but At LEAST 1M is preferable
    -Tolerable internet connection to play Runescape and REGULAR USAGE of various sources, and these sources CAN include:
    Runescape Grand Exchange Database
    Runescape Forums and
    •Informative websites with detailed articles on items such as the Runescape Wikia
    -Patience!!!
    -Some Luck

    Long-term merchanting in action (Part One)
    Now that you have at least one of the things listed above, as well as some money, you are ready to become a merchant. The FIRST and probably one of the MOST IMPORTANT questions a merchant asks when he or she begins the process of long-term merchanting is: "WHAT SHOULD I INVEST IN?" This is a seemingly simple question to answer, but it is not straightforward as there are a number of key factors to consider:

    -Is the item involved CURRENTLY rising or dropping?
    -Is the item cheap or extremely costly?
    -Can you invest on that item in bulk?
    -Are you familiar with the price trends of that item?
    -WHO would buy that item?

    With these questions in mind, you will need to answer them as best as you can. The better your answers, the greater your chance of making profit EACH time you invest in an item. I will go through MY answers to these questions in detail in later parts.


    Last edited by Noodlebrainz on 17th April 2012, 5:18 am; edited 1 time in total
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    Post by Noodlebrainz on 16th April 2012, 5:33 pm

    Long-term merchanting in action (Part Two)
    Choose any item that you are fairly familiar with. This should give you a better chance of making a reasonable profit. The best way to initially tackle the list of questions from PART ONE, using your chosen item, is to ask yourself: "HOW WELL DO YOU KNOW THE ITEM?"

    Take yew logs for example. Everyone knows that they are high-tiered logs that have a minimum requirement of level 60 Woodcutting in order to be chopped. However, not everyone knows that they are DREADFULLY SLOW at 60 Woodcutting. And even fewer people know where every single yew spots are located (I DON'T). Furthermore, not everyone knows how crowded the yew spots can be at a certain time of the day or even a certain day of the week. If you are not well acquainted with the chosen item to merch, NOW IS A GOOD TIME to use some references that i listed above, such as the RUNESCAPE WIKIA.

    Let us move on to some basic yet vital questions. How can yew logs be gathered in order for them to contribute to the market? There are a number of ways they can be collected:

    -Woodcutting (the most common way of hoarding yews)
    -Monster drops (a number of monsters in p2p worlds make this possible)
    -Squeal of Fortune (probably the least common method, but possible)

    So WHO would buy yew logs? There are a number of groups of people who may purchase these logs:

    -Firemakers (not that many since yews are fairly costly in bulk)
    -Fletchers (more yew fletchers than yew burners as profit can be potentially earned)
    -Merchants (probably a number of them)

    Already, this gives us a good idea on the item's SUPPLY AND DEMAND. If you EVER want to be a GOOD MERCHANT, please UNDERSTAND THE CONCEPT OF SUPPLY AND DEMAND, I cannot stress this enough.

    Now that we have some background knowledge of yews, we are ready to proceed to the next step of long-term merchanting.


    Last edited by Noodlebrainz on 23rd April 2012, 2:48 pm; edited 5 times in total
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    Post by Noodlebrainz on 17th April 2012, 2:45 am

    Long-term merchanting in action (Part Three)

    So as a merchant, one of your KEY ROLES is to REGULARLY FOLLOW THE PRICES OF THE ITEM(S). By doing this, you can establish whether the item is rising, falling or remains steady in price. It is HIGHLY RECOMMENDED that you follow the price trends of other items relevant to the item of interest. This is where the RUNESCAPE GRAND EXCHANGE DATABASE comes to great use. To make following similar item prices more convenient, use the GRAND EXCHANGE MARKET WATCH, located in the RUNESCAPE WIKIA. Please note that some of the prices may be a couple days out-of-date on the Market Watch, so use the Grand Exchange Database when you want to discover a price change ASAP. Another decent way of following prices is to regularly read the relevant sections in the RUNESCAPE FORUMS. This is a great way to determine the level of supply and demand of that item. Another convenient and effective way to determine the current supply and demand of an item is to ask your friends.

    Assuming that the price trend of your chosen item is currently in your favour, i.e. it is dropping, you should be able to proceed to the next step of SPENDING MONEY IN ORDER TO MAKE MORE MONEY; to put in one word: INVESTING. The one question you should ask yourself BEFORE YOU DO ANYTHING is: "When should i purchase the item" This is when the graphs of the item's price trends really come in handy. With past experience of the item, this step should be easier. If not, then someone else has been kind enough to share their past experience by posting the graph of the item's price trends (up to 180 days I believe). For older trends, it is usually found by browsing through old posts from various forums of people setting up offers. Ideally, you should invest on that item when you have noticed a flattening curve while the price is decreasing, i.e. WHEN THE PRICE IS ABOUT TO STOP DECREASING. Another EXTREMELY IMPORTANT thing that you should do in order to maximise chance of profit is to list the reasons why that item has risen or fallen?

    For example: steel bars have recently dropped to 850 ea after exceeding 1k ea for several months. Reasons to explain drop are:
    -There are more suppliers than buyers (I noticed how there were quite a number of "mining industries" advertising on the Runescape Forums)
    -Cannonballs became unpopular for some reason
    -Merch clans

    Using the same example but at a different timeline: after 2 months of price dropping, steel bars has suddenly spiked up from 850 ea to 1.1k ea. Reasons to explain rise are:
    -There are more buyers than suppliers (after a item's long-term drop, it usually rises back again)
    -Cannonballs suddenly becoming more popular (try to find out when a lot of members play at a certain time of the year, like summer holidays)
    -Merch clans

    Now for the final part. cheers


    Last edited by Noodlebrainz on 23rd April 2012, 3:02 pm; edited 8 times in total
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    Post by Arun XD on 17th April 2012, 4:04 am

    Wow, nice detailed study of merchanting. Keep it going Very Happy
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    Post by Guthix-shehab on 17th April 2012, 7:43 am

    Wow, you rock in merchanting This is so nice.
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    Post by Jackdekilla on 17th April 2012, 2:34 pm

    You could try making a service with your skills as a merchant. I think you would be highly sought after.


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    Post by Noodlebrainz on 19th April 2012, 6:22 am

    Long-term merchanting in action (Part Four)

    Depending on what type of merchant you are, YOU SHOULD NOT INVEST ALL OF YOUR GOLD ON ONE ITEM, unless if you are not playing actively, but would like to check on his or her account from time-to-time. It is better to DIVERSIFY your merchanting stock, so that if one of the items let you down, you have your other items as backup, and hence you can still earn a net profit. Note that long-term merchanting is NOT RECOMMENDED for f2pers who rely on the 2 Grand Exchange slots regularly. Long-term is more effective for irregular f2pers or p2pers with the cash and free Grand Exchange slots.

    When you are ready, place your offer (preferably below mid, but mid is fine) into the Grand Exchange and hopefully your offer has been accepted by another player. If long-term merchanting has worked in your favour, and you bought that item in bulk, you should have made a massive profit. But WHEN you make this profit cannot be determined with absolute certainty. This is where graph interpretations and experience with the iten comes in real handy. However, when the price of the item begins to flatten after spiking up, this should be the best time to sell, or a little before that.

    Conclusion

    As I said, this is my VERY FIRST money-making guide. A combination of past experience as well as research has enabled me to write what I hoping is a GOOD AND RELIABLE GUIDE. Before I finish off, here are few things that i must add:

    Merchanting Allies (these are the people who will help you gain a profit)
    -Decent skillers (these guys will buy, or if gathering, sell "skilling" resources with minimum-moderate concern for prices)
    -Rich players (these guys will buy or sell your merchandise for whatever reason with minimum concern for prices)
    -Friends (these guys will help you reach your financial goal and can be a merchant's best ally)

    Merchanting Foes (these are the people who will hinder you from making profits)
    -Cheap skillers (these guys will buy your "skilling" resources with very high concern for prices)
    -Merchants (these guys are like vampires, only instead of blood, they can suck your money dry. BEWARE!)

    Tips

    -Don't invest all of your gold on one item, because it may take a very long time to get it back
    -Don't feel discouraged if an item has not risen as much as you hope
    -Try and get a good idea of when people play at a certain time of the year
    -Research as much as you can on an item you are planning to invest.

    Well that is it, I may edit some, but Long-term Merchanting v 1.0 is complete. Smile


    Last edited by Noodlebrainz on 2nd May 2012, 3:39 am; edited 3 times in total


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    Post by iiOuTSKiLLu on 20th April 2012, 7:18 pm

    ty i was looking for a merch guide ty.


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    Post by Noodlebrainz on 23rd April 2012, 8:42 am

    Sorry that I have not finished the guide yet. I have been pretty busy with life and stuff, so the guide will not be finished for a while. However, because I have been getting a number of positive comments from other dyce genesis clan members, I am considering in making another version of this guide, which is of course an improved version.

    Things to look out for in the updated version of the guide:
    -Pictures (don't we love them?)
    -Reformatting of the guide so that the guide can explain step-by-step every single aspect of long-term merchanting + makes it easier for readers to read the guide
    -More sources so that a reader becoming a merchant has a larger arsenal
    -More information on long-term merchanting for people who are really into it

    Also, I may be adding a skilling guide for a particular skill, revealing some things that some people may not have noticed.

    Finally, since we all love money, I may write a guide on short-term merchanting.

    P.s. I wrote this guide on my mobile phone, so I don't know if it looks good on a pc lol! XD

    If there is anything I need to improve on for this guide, please let me know. Smile


    Last edited by Noodlebrainz on 24th April 2012, 4:59 pm; edited 1 time in total


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    Post by bhavesh1 on 23rd April 2012, 2:09 pm

    it really helped me so from now onwars i will start merching ty a lot
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    Post by Noodlebrainz on 25th April 2012, 3:48 pm

    I have some experience with merchanting in the past, but not a lot. Lately, I have invested in 40k steel bars for 850ea. It is currently rising now, so I am hoping to make a good profit. I am also hoping to get a rare (current goal) as it is one of the item that I want to get the most in Runescape. Smile


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    Post by lord dark7hb on 6th May 2012, 12:59 pm

    can any1 tell me waht to merch right now
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    Post by Extreem dyce on 6th May 2012, 1:30 pm

    very detailed but i got 1 question

    why do people do big posts in 3 posts?

    is it to get more posts or somethng?
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    Post by Noodlebrainz on 12th May 2012, 11:04 am

    Umm, yordi, if you read everything on this thread, I mentioned that I wrote the entire guide on my mobile phone. I experience crashes occasionally, which causes me to lose progress. Furthermore, it takes a while for me to scroll through a chunk of text in order to resume editing, which is why I break it down into several parts. I hope the forum moderators understand this and will not penalise me.


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    Post by Defazzled|Dolzo on 13th May 2012, 7:43 am

    Great detail I can tell you merch alot keep it up, and I hope to see more guides santa


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