Jagex Mod Opinion on Merchanting Clans
http://tinypic.com/r/1zv7jat/3
My Advice, Stay away, if you are going to join, dump early or dump a couple of items a day so you can even it out and still make profit.. not the profit that you expect to make but you wont lose any or much..
Dumping Price are Scamming Price..
Merchanting Clans Fail
Only if you dump before everyone else..
thats the only way to make profit..
Dump Price are there to keep the item longer and so the owner can dump before the public early noobs dumper..
if there are no dump price item is going to fail so see merchanting clan do not succeeded..
In real life, it is called Pump and Dump
They would be a random spam email to you telling you to buy this item.. similar to Merchanting Clan..
Gladly it is illegal in Real Life.. Jagex should be thinking about it..
The merchanting clan scam.
Hopefully most of you noticed but this is meant for those who didn't. Recently the dragon stone market went insane. Many people joined the merchanting clans hoping to make money & instead lost a fortune. What they failed to realize was that that was the whole point. The clans purpose isn't to make money for all the members, just the clan leaders, mostly at the expense of the other members. For those who don't get or believe the concept I'll explain below.
This is not meant as a tutorial on how to be a crooked clan owner either but to inform players of what happens in these clans.
The main group ( we'll call them the core ) pick an item their going to "merchant". They then spend several weeks buying up all they can of it at the cheapest price possible. Once they have enough ( or run out of money to buy more ) they start recruiting new members into the clan. Once the clan/clans is large enough the Core tells the new members to buy the item at max in the G.E.. This quickly drives the price of that item through the roof. Once the price is high enough the the Core members start selling their huge stockpile of the item. The new members buy them all ( not knowing where their coming from ) & the Core makes a fortune. The core then disappears & leaves the newer members with a huge # of the item that they paid for at an incredibly overinflated price. Once the clan stops buying & nobody else is willing to pay that enormous price the value of the item crashes often below it's previous cost.
That's what has just happened to the dragon stone market. Some of the core members were so cold as to then offer to buy the stones ( once cut ) from the other members at a measly price. Most of the newer members even had to get assistance from the core in order to cut it first. What are these crooked clan leaders trying to market next? Rings of wealth made from the very stones they bought back from their desperate clan members.
There's also a new one going around using Yew seeds.
I've been giving the warning for weeks now but unfortunately most chose to ignore me. Now I'm getting to hear their sob stories & trying to pass them on before anyone else falls for this.
Even Runescape has it's own version of a crooked stock market.
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