Setting up an RSGP shop--help?

[oxodium]

Anyway, I've made a couple thousand dollars here and there online, and just trading with friends and such. Decided to set up a Gold shop on sythe

Pretty much could use all the info I could get.

I've currently got £1000 to spend on a verified PP which has been bank funded.

I see major traders buying for about .45-.55, So I put my rates around .55 - .6

Been around a week now, and I've just been able to hit 100m with those rates.
Currently haven't sold anything.

So is there anything I'm doing wrong, or is it just because I'm not as trusted as others?

Thanks, could really use any relevant information as how to set up and run a rsgp gold shop. :embar:

 

[CroCopLhK]

playerauctions

 

[oxodium]

playerauctions

Care to elaborate?
I know they charge a 10% fee for selling gold. Is there anywhere to advertise buying it?

 

[PrayerKid]

look thrue the gold stores and find the ones that sell bulk gold for very cheep buy it in bulk then raise your rates so your makin a bit of money, when doing your gold shop, tell them you wont go 1st, but if they want to use OMM its allways welcome, because you want to gain trust so use an OMM for a while till you get trust and some vouches. Ill buy 60.00 worth of gold off you at .65 p/m if your looking to sell some. i bileve its like 96.3m or something.

feel free to pm me about anything

 

[oxodium]

look thrue the gold stores and find the ones that sell bulk gold for very cheep buy it in bulk then raise your rates so your makin a bit of money, when doing your gold shop, tell them you wont go 1st, but if they want to use OMM its allways welcome, because you want to gain trust so use an OMM for a while till you get trust and some vouches. Ill buy 60.00 worth of gold off you at .65 p/m if your looking to sell some. i bileve its like 96.3m or something.

feel free to pm me about anything

I've had a look, the cheapest they sell for is around .6 and that's over 1bil.
i'd lose money trying to do that.

 

[rsplayer95]

I feel its hard to get into the gold shop business now since so many are already set up and trusted. But I think your main problem is trust. If you are not trusted enough people will be afraid to trade with you because you can always charge back. Once you gain trust you will start seeing a lot of people buying/selling gold from you.

Edit: checked out your vouches and the 100M sold is definitely not a good vouch considering he has 0 posts and he joined 2-3 days ago. That vouch actually hurts your credibility in my opinion.

 

[oxodium]

Edit: checked out your vouches and the 100M sold is definitely not a good vouch considering he has 0 posts and he joined 2-3 days ago. That vouch actually hurts your credibility in my opinion.

Yeah, the guy didn't have sythe, he contacted me through it as a guest. Really nice guy though, made an account just because he wanted to give me a vouch.

 

[Crucifixed]

Just buy gold for like $.60 cents a mil on here, and sell it on craigslist for like $.75 and meet people or sell it to nerds and little kids who think they know the prices but in reality you still get a profit. Its hard to profit off gold now, with price ranges being so little between buy and sell.

 

[oxodium]

Just buy gold for like $.60 cents a mil on here, and sell it on craigslist for like $.75 and meet people or sell it to nerds and little kids who think they know the prices but in reality you still get a profit. Its hard to profit off gold now, with price ranges being so little between buy and sell.

Not really familiar with Craigslist, but thanks for advice. Yeah, price ranges seem to be at max .4 - .75 However gold rarely, buys/ sells at those prices in large quantities. I'm starting to think, Is it even worth my time?

 

[Darkstassassin]

Its because you're untrusted. Lots of people enjoy doing trades with people when they are sure they won't be scammed.

If you want to ensure players that a little bit, donating is a decent way to get a little bit of trust

 

[Austintheman]

Its because you're untrusted. Lots of people enjoy doing trades with people when they are sure they won't be scammed.

If you want to ensure players that a little bit, donating is a decent way to get a little bit of trust

Actually, not really. Don't trust people just because of their donations.

Just sell your gold to Viou or Video.

 

[oxodium]

I've already donated, awaiting my rank.

Obviously a newcomer with a $5 donation, in my mind, is not worth trusting. I'd be far more trusting of a guru without a donation rank.

 

[Austintheman]

I've already donated, awaiting my rank.

Obviously a newcomer with a $5 donation, in my mind, is not worth trusting. I'd be far more trusting of a guru without a donation rank.

You shouldn't trust people based on their ranks(guru/grand master/ etc) nor their join dates.
Also, this should be in Market Lounge.