So if youâre not aware, Runescape has the Grand Exchange, which is basically a global trade market controlled by supply and demand. Itâs an incredible system, and deserves a lot of commendation.Â
Well one day back inâŚI think Summer between 2010-2012? my younger sister and I had nothing to do but play Runescape in our free time. I did what all aspiring heroes do, I was happy to go out and commit mass goblin murder. My sister was more creative. At first she went to train Smithing in Al Kharid, which is this desert area with easy access to iron, coal, a player bank, and a smelter. So basically she made craploads of steel for hours on end for like a week. But then she realized she had nothing to do with the steel. She could go find a smith with an anvil and train Smithing further, but that was boring since sheâd already been grinding forever. So she went to the Grand Exchange and sold it all.Â
Thousands of units of steel ingots.Â
And it sold like immediately, since there was always a large amount of people training Smithing at the level they could use steel.
Obviously she became fabulously wealthy and didnât know what to do with her newfound wealth. But since she spent a lot of time at the Exchange, she knew basically how the market worked. Iâm not 100% sure on what the thought process was for her, but she essentially realized a basic economic principle: If she could control the supply and demand for steel she could accelerate her profit margins.Â
So like any reasonable 12-14 year old, she bought out about twice as much steel as she sold. Flooding the market had almost halved the price, and she now was both the supply and demand. Of course, as a result of some mystery person buying tons of steel, the price went up again. So she went and sold it at the higher price. She spent about another week or two playing Carnegie before it got old and she retired to Lumbridge with fat stacks of gold and the finest armor money could buy (but she couldnât wear due to low Defense level).Â
I found out from a friend later who was part of one of the big trade guilds that the big market guilds were all pissed that somehow the steel market had crashed, skyrocketed, then crashed in quick succession for no goddamn reason and all of them had lost thousands of coins in the process.
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