Tips for starting a gold shop?

I'm looking to start a gold shop soon with around $200 to start with are there any things I should look to invest in before hand or any tips I could use for getting started? All feedback is appreciated.

 

- Use a private vpn/proxy
- Don't use default level 3 accounts, at least train them a bit
- It's best to trade when jagex isn't online (10pm-7 am gmt)
- Don't accept PayPal from randoms
- Always make sure your customer is verified and can provide ID matching their PayPal
- Don't get greedy, usually it's too good to be true
- Don't take more gold than you can handle, bans are risky

 

I suggest getting more money than $200, if someone wants to trade you X amount of money and you can't buy all of it they might go to a different seller and sell to them.

 

Get some vouches under your belt first. Then just follow a good RWT trade guide.

 

vouches will help with trades

 

Vouches would come from trades no? Looking to get vouches through my shop

 

They can come through shop. But it's always good to have some vouches under your belt from other stuff first.

You'll have to use MM a lot in the beginning which can be tough to find.

 

I've never sold stuff on here, but I've sold things on other sites. The main tip I can provide is befriend some of the MM's here on the site, otherwise you'll get a deal setup and have nobody to Middle Man it.

 

Its very nice ot see you have the potentioal to start and run your gold shop! In order to get vouches mate, first I'd suggest is sell bonds (price up to you but I think you should sell it a bit cheap) and then once you got enough of them vouches, start the gold shop and use MM for for couple of trades, after a while if your a good seller and has sanctification for customer, you'll be able to buy/sell more easily!

 

You have to consider in the risk of accepting Paypal, so make sure you have a specific maximum purchase amount for low reputation users. For example, for users with less than 5-10 vouches, I'd set the maximum purchase amount something lowish like $50.

Also, I wouldn't accept large purchases from semi-trusted users either - if someone wants to buy $300 worth then it's a huge risk and you don't need to take that when you're starting out.

 

You can get a free copy of my "Safe RWTing" e-book as a guide for you. It's made to help others like you and I hope it will bless you greatly

Just follow my signature for it.

 

Fear is the best motivation... This is the four words I do business by. If you can't work out how this relates to opening a gold shop let me explain it to you,

Tell your sellers their gold is crashing and by tomorrow the price will be even lower.

Tell your buyers that your gold will go up by tomorrow and the price will be even higher.