Runescape's The Grand Exchange Update

Runescape's brand new update is called The Grand Exchange. The idea is to allow players to put up items they want to sell, and allow any other player on any world to be able to buy those items without a need for a formal trade. Also, there are security measures to keep somebody from trading too much for too little - or for merchanting. And this is where this whole thing sucks: you can't make money anymore by buying low and selling high. I remember when I was able to buy rune ore for like 15k and sell it for 25k. Not anymore! Now you have to buy it at the same price that you can sell it, which means: no profit. And finally, Jagex has now squashed merchanting. All players will now have to resort to skilling and PKing in order to gain money.

Last week, they placed a cap on staking. So, even less ways of making gold coins in Runescape now! Great!

hink it's first come first served. For example, if 10 people are trying to sell at minimum price, the first one sold will be the one who put in their order first.

This makes it very important to find out when they update the prices. If you're trying to sell an item that is overpriced by the exchange, it's critical to get your order in at the minimum as soon as the price ticks down. Same thing if you're buying an item that's underpriced.
---> Anyone know when they update prices BTW?? I know it's in the early AM Eastern time.

This is why I think the whole 5% rule stinks. If I need to get some cash quickly, I should be able to sell items for like 20% below market to get my money right away. And if I need to get a rune scimmy to go PKing, I don't want to wait 4 hours to finally get my order done. I want to pay whatever it takes to get it now.

And yeah, it would be nice to see the actualy buy/sell offers. I'd like to know if there are 500 rune sets to be sold before they get to me. Then I wouldn't bother putting in a sell offer, I could sell something else instead.

This is horrible for us smither/miners. Go on the forums, RIGHT NOW. Compare the forum price of coal to the EG price, and you'll see the horror. Everyone is trying to sell out, get their cash, because they KNOW the market is going to crash. The force of Low Prices vastly exceeds the price of pre Nov. 26. I have 18k coal that I bought at 180 ea, and I don't want to lose so much money. Now fortunately, I still have time. I smith addy, and the addy GE min is in my range, but I predict that I have less than three days to save my cash, or crash.

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