A Guide To

Pricechecking

Basics

What is pricechecking?

Pricechecking is the process of giving out margins from the latest post on forums, taking updates from the channel and updating the margins. Then, once you have finished pricechecking, updating the forum with the newest margins. Before you start with pricechecking, make sure that you're familiar with the channel rules, the item list, and all abbreviations used within the channel.

Why should I pricecheck?

By pricechecking within FlipChat1, you're helping to ensure that the channel is active, margins are current, and that channel users are able to make the most profit possible. Pricechecking is free to do and will not cost you anything. After meeting certain criteria you will be able to earn yourself a rank within the channel - guaranteeing you access to the channel even when it is full.

Useful Information

Pricechecking has been made easier due to the introduction of the RuneScape© Companion App. This is a web-application that allows you to log into a RuneScape account and access some game functionality such as chat channels and the Grand Exchange. It is advised to make a second RuneScape account to use on the app whilst playing on your main account through the game client. The app will also allow you to copy and paste, making it easier to give margins within the channel.


Pricechecking

Giving Margins

Whilst pricechecking, giving margins is very simple! When requested by a channel user for an item, all you have to do is enter the item abbreviation and price into the friends chat.

Updating

Below is a list of all scenarios that could come up when pricechecking. Please check each section for details on how to overcome any of the scenarios below:

Update report at current price - under 15 minutes

If an item buy or sells at the current price you have in under 15 minutes, it means the price for that item needs to be adjusted by 25,000. If the item is a buy report, you should decrease the current buy price by 25,000, or if it is a sell report, increase the sale price by 25,000.

Update report at current price - over 15 minutes

If an item buy or sells at the current price you have in 15 minutes or over, it means that the price is current and working. You can keep this margin the same!

Update report with rule applied

If an item buy or sells after the rule has been used, this means that the item has bought after waiting at least 30 minutes. If the report states a buy or sell within 15 minutes, you should update the price to the value of the first rule. See below for an example:

Player: Nis bb 1250 rx2 10mins
Pcer: New bb sell price 1275

Update report with instant buy or sell

If an item buy or sells instantly, you should change the price you have by 50,000 GP (to the nearest 25,000). If the report is very far off from the price you have, it is recommended that you ask someone to confirm this report before changing it. To do this, simply ask in the channel for another player to confirm this report, or alternatively, try to buy this item for youself if you can.

Update report with margin cuts

If you receive a report in which the price has been cut by a significant amount and has bought or sold fast, this report can be ignored. This is because we do not know if the current price of the item will work.

If you receive a report in which the price has been cut but has a long buy or sell time, you can treat this as the player using the rule. You would change the current margin you have to the recently reported price.

Generally, it is up to the current pricechecker as whether or not to change the margin because of cuts like these, so use your best judgement (or ask).

Update report resulting in a conflict

If you receive a report that is then conflicted by someone else you should aim to resolve this problem before updating an item price. A conflict can be called when someone else is buying or selling an item for a higher/lower price than the reporting players price. Most conflicts can be resolved without a screenshot, however, you can ask that players involved post a screenshot within the conflict section on the forum. You should then check each screenshot. If you're unsure on how to resolve this situation after doing this, please contact a kick rank within the channel to have them investigate the issue further.

FAQ

Does a pricechecker have to give lines?

No! Giving lines, if not on companion, can be very draining and require a lot of attention. It is the pricecheckers choice to do lines or not! If anyone has an issue with this a rank within the channel will be there to help.

What if I dont know how to change a margin?

Read this guide, it explains it! But if you still have questions, ask any of the kick ranks! Kick ranks have earned their ranks through pricechecking, so they know how to do it! This also means that if a kick rank tells you to change a margin, you should do it.

What if I am worried that someone is manipulating the margins?

If you are worried, ask a kick rank and they should be able to tell. Do not call out the individual in the channel, this could cause many problems. The best way to deal with this issue is to ask a rank if you could send them a private message. The kick rank will then be able to help you with this issue.

I've noticed some reports on the forum, should I use them?

You definitely should! Forum reports are just as important as updates from the channel - it helps you get as up to date as possible for pricechecking. Update prices as you normally would, with the rules specified earlier on.

What if there is no kick rank online when I want to pricecheck for the first time?

If you are worried about this, it might be best to wait! A lot of kick ranks actively check the margins posted, especially if someone new has pricechecked. You might find though that kick ranks are on most, if not all of the time!

What if someone sends me a private message with a report or asks for a margin?

Please do not give margins outside of the friends chat and do not accept reports that are not posted within the channel. This can lead to manipulation through reports.

The buy and sell price is the same! What should I do?

A reason for this is that it could be the margins are small, or when the item isn't being reported enough so it's not updated enough to have the full accurate price. Try and get updates for this sort of thing as soon as possible, whether that means you flipping the item or asking someone in the channel to flip it.

Whilst pricechecking, can I use my own reports to change a margin?

Yes! As long as you're reporting them in the channel just before you update then it's fine! And the nice thing is, you'll be making profit while you pricecheck.

How long should I pricecheck for?

We appreciate all pricechecking! If you're pricechecking for 5 minutes or 5 hours, it's all fantastic stuff to be doing. The shortest I've seen so far is less than a minute. The current record for the longest PC'ing session is held by Vaikne Vaim, who pricechecked non-stop for 41 hours!