Merchanting or merching, is the act of purchasing an item at a low price and then selling that item at a higher price to generate profit. It is a popular method used by wealthy players to make money. With the addition of the Grand Exchange, it is no longer simple for merchants to act as an intermediary between players who seek to easily sell and players who seek to easily buy — the Grand Exchange replaced this. Modern merchants, however, have found ways to work with and around the Grand Exchange to make money, including: long term investments, time-based arbitrage, price manipulation, "market value" to "street value" arbitrage, and item conversion.