Chapter 505: Treasures of Greyfen

By the following morning, the atmosphere surrounding Greyfen had changed considerably.

News of the Crimson Talon Company’s disastrous expedition had spread throughout the temporary camps.

Two Warriors had died, several others had suffered serious injuries, and their captain had returned from the dungeon on a stretcher, his magnificent armor reduced to battered scraps of metal.

Sage had personally led the rescue alongside Leon and Rowan, but even a successful intervention couldn’t undo the consequences of the company’s recklessness.

Nevertheless, the disaster hadn’t discouraged everyone.

If anything, it had reminded the more experienced Adventurers that Greyfen was a place where preparation mattered considerably more than confidence.

"Guildmaster, the injured have been transferred to the Medical Center," a security officer reported, approaching Sage outside the temporary administration pavilion. "Captain Bastian remains under treatment, but the healers believe he’ll recover."

Sage nodded. "Good. And the families of the deceased?"

"The necessary notifications are being arranged through Headquarters, Guildmaster," the officer answered.

Sage’s expression grew solemn. "Make sure they’re handled properly. Whatever mistakes their captain made, those men still deserve to be treated with dignity."

The officer bowed before departing.

Sage watched him leave, then turned toward the registration area.

The previous evening had demonstrated the dangers of Greyfen.

Today, he intended to discover whether the dungeon could also demonstrate its value.

---

Shortly after midday, the golden formation surrounding Greyfen’s entrance began glowing.

Several Warriors waiting nearby immediately turned toward the towering stone pillars.

"Another expedition is returning!" someone shouted.

Six figures emerged from the passage, carrying heavy packs and dragging two reinforced leather sacks between them.

At their head walked Darian Falk, captain of the Silver Hart Company.

His armor bore fresh scratches, and a bandage wrapped around his left forearm, but his expression suggested that the expedition had been considerably more successful than Bastian’s.

Sage approached as the company entered the reporting area.

"Captain Falk, welcome back. I see you’ve decided that three days inside Greyfen were quite enough."

Darian laughed tiredly. "We actually intended to remain longer, Guildmaster, but our packs became too heavy. Besides, after hearing something enormous moving beneath one of the lower passages, we decided that returning with our earnings was preferable to becoming someone else’s rescue mission."

"A remarkably sensible philosophy," Sage replied. "I wish it were more popular."

Seraphine Kestrel, Darian’s second-in-command, stepped forward and placed one of the leather sacks upon an inspection table.

"We’ve recovered several materials we couldn’t identify," she explained. "Some came from monsters, while others were gathered from mineral deposits near the second cavern."

She opened the sack.

Inside were dark metallic scales, several curved fangs, and a collection of reddish stones containing faintly glowing veins.

Sage picked up one of the scales.

It was surprisingly heavy.

"Interesting. What creature did this come from?"

"A six-legged monster resembling an armored lizard," Seraphine answered. "Its scales were difficult to penetrate, but we discovered that the joints beneath its forelegs were considerably less protected."

Darian nodded. "We defeated three of them before deciding we’d collected enough. Their armor might be useful for equipment production."

Sage examined the material thoughtfully.

Bramdir Coppervein and the smiths working within the Guild’s Production Quarter would certainly be interested in studying it.

However, the Guild wasn’t the only organization interested in Greyfen’s resources.

Several merchants had already begun gathering around the inspection tables.

One of them, a stout man wearing an expensive green coat, leaned forward eagerly.

"Captain Falk, would you consider selling those scales? I represent the Bellmont Trading Company, and we’re currently purchasing unusual monster materials."

Before Darian could answer, another merchant interrupted.

"Don’t accept his offer without hearing mine! My associates supply several prominent armor workshops in the Capital."

The first merchant frowned.

"I was speaking to the captain."

"And I’m offering him a better opportunity," the second replied.

Darian exchanged an amused glance with Seraphine.

Sage watched the disagreement with considerable interest.

Well, that didn’t take long.

He stepped forward before the merchants could begin arguing over the inspection table.

"Gentlemen, I appreciate your enthusiasm, but perhaps we should allow the materials to be properly examined before anyone starts throwing gold at them."

The merchant in green immediately straightened.

"Of course, Guildmaster. We merely wished to express our interest."

"Then consider your interest expressed," Sage replied pleasantly. "The owners can decide whether they wish to sell once they understand what they’ve recovered."

The merchants reluctantly stepped back.

Sage turned toward Darian.

"Remember, Captain, everything your company obtained belongs to you. The Guild won’t demand a percentage, and you’re under no obligation to sell through any particular merchant."

Darian smiled.

"That’s precisely why we purchased the Passes, Guildmaster."

---

The inspection tables became considerably busier as the afternoon progressed.

Lysandra Varrick, whose four-person expedition had returned the previous evening, arrived carrying the blue crystals her party had recovered.

An independent appraiser hired temporarily by the Guild examined them beneath a magnifying lens, carefully testing their hardness and mana content.

"These aren’t ordinary mana crystals," the elderly appraiser observed. "Their internal structure appears unusually stable. I can’t establish their precise properties without further examination, but they may prove useful in magical equipment or formation work."

Lysandra leaned forward.

"Does that mean they’re valuable?"

"Potentially," the appraiser answered cautiously. "But potential value and confirmed market value are two different things."

Sage nodded approvingly.

"An important distinction. I’d rather the Guild develop a reputation for careful assessments than announce that every glowing stone is worth a fortune."

Lysandra chuckled.

"That would certainly disappoint several merchants waiting outside."

"Only temporarily," Sage replied. "They’ll recover as soon as someone discovers another shiny object."

Despite the uncertainty, the crystals attracted immediate attention.

One merchant offered thirty gold coins for the entire collection.

Another increased the offer to forty.

Lysandra listened patiently before declining both proposals.

"I’d prefer to wait until their properties are better understood," she explained. "If they’re useful for magical formations, selling them immediately might be foolish."

Sage smiled.

"A wise decision. Knowledge can be worth considerably more than the first offer placed upon a table."

Meanwhile, the reddish stones recovered by the Silver Hart Company attracted the attention of a visiting alchemist.

The woman examined one beneath the sunlight before carefully scraping away a small fragment.

"There’s concentrated mana within these veins," she observed. "Not enough to identify their exact applications, but enough to justify further testing."

Seraphine folded her arms.

"So everyone agrees they’re interesting, but nobody knows what they’re worth?"

The alchemist smiled apologetically.

"That’s the difficulty with discovering something unfamiliar. The first people to recover it rarely possess the information needed to establish its true value."

Sage listened thoughtfully.

This was precisely why Greyfen represented such an extraordinary opportunity.

Its resources weren’t merely valuable because merchants wanted them.

They were valuable because nobody yet understood everything they could become.

---

By late afternoon, Garen Holtweiss arrived at Greyfen with several assistants and a wagon carrying reinforced storage chests.

The merchant had already established a commercial relationship with Sage during the Guild’s expansion into the Royal Capital, and he had been among the first to recognize the opportunities surrounding the newly claimed dungeon.

"Guildmaster Sage!" Garen greeted cheerfully. "I hear your Adventurers have begun bringing back some rather interesting merchandise."

Sage glanced toward the crowded inspection area.

"Interesting enough that half the Capital’s merchants appear determined to purchase it before anyone knows what it does."

Garen laughed.

"Then they’re behaving exactly as merchants should. The greatest profits often belong to those willing to recognize an opportunity before everyone else."

"Or the greatest losses," Sage replied.

"That too," Garen admitted with a grin. "But we generally prefer not to discuss that possibility."

He examined the materials displayed upon the tables, paying particular attention to the armored scales and unusual crystals.

After speaking with Darian and Seraphine, Garen offered to purchase a portion of their recovered materials for further examination by his associates.

The negotiation lasted nearly half an hour.

Eventually, both parties agreed upon a provisional sale covering several scales and a small quantity of the reddish stones.

The remaining materials would be retained until their properties became clearer.

Darian counted the gold he received before looking toward Sage.

"Guildmaster, we’ve already recovered enough to cover a substantial portion of our expedition expenses, and we haven’t even sold everything."

Sage smiled.

"Then I imagine your company is reconsidering whether those S-Rank Dungeon Passes were expensive."

Darian laughed.

"Not nearly as expensive as they seemed yesterday."

Several nearby mercenaries overheard the exchange.

Their expressions changed immediately.

One hundred gold coins for a single Dungeon Pass had initially seemed outrageous.

But if a properly prepared company could recover valuable materials during a relatively short expedition, the financial possibilities were difficult to ignore.

More importantly, every coin earned from selling those materials belonged to the Adventurers who had risked their lives obtaining them.

The Guild collected no percentage.

That simple difference was already beginning to reshape the calculations of independent Warriors throughout the Royal Capital.

---

As evening approached, Sage stood beside the temporary administration pavilion, reviewing the day’s commercial activity.

Guild employees were still recording expedition reports, while merchants continued negotiating with returning Adventurers.

Several new companies had registered their intention to explore Greyfen.

Others were requesting information about monster habitats, known passages, and potentially valuable resources.

Sage could already imagine what the surrounding valley might become.

Permanent warehouses would be necessary for storing recovered materials.

Workshops would require steady supplies of monster parts and magical minerals.

Alchemists would purchase unusual ingredients, while merchants would establish contracts with successful Adventurer companies.

The Guild’s own facilities would benefit from the growing demand for equipment, healing, accommodation, and supplies.

And all of it would begin with the Dungeon Passes controlling entry into Greyfen.

Leon approached from the nearby camp, having spent the afternoon speaking with several Warriors interested in joining future expeditions.

"You’re smiling again, Guildmaster," he observed.

Sage glanced toward the crowded inspection tables. "Can you blame me? Yesterday, everyone was complaining about how expensive my Dungeon Passes were. Today, they’re arguing over who gets to purchase the treasures brought back by the people who bought them."

Leon chuckled. "I suppose that’s one way to measure success."

"One of several," Sage replied. "Although I suspect the Finance Department will appreciate this particular measurement."

Leon looked toward the enormous dungeon entrance.

"Just remember that Greyfen isn’t going to become any less dangerous because people are making money from it."

Sage’s expression became more thoughtful.

"I know. And that’s precisely why we need to be careful about what happens next."

He watched another merchant approach the Silver Hart Company’s table, eager to negotiate for the remaining materials.

The first successful expeditions had proven something important.

Greyfen wasn’t merely a dangerous dungeon.

It was an extraordinary source of resources, trade, and opportunity.

But as the merchants continued competing over unfamiliar treasures, Sage understood that the Guild’s greatest challenge was only beginning.

The more valuable Greyfen became, the more people would want to enter.

And the more people entered, the greater the consequences of sending them inside without reliable information.