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Stats and requirements
You need 80 Attack and 90 Strength. Charged, it gives +125 slash attack and +75 Strength and swings every 5 ticks as a two-handed weapon. Uncharged, most of that is gone, so nobody fights with one straight off the Grand Exchange.
How the passive works
Every swing covers a 1x3 arc. Against a 2x2 monster it lands two hits, against 3x3 or larger it lands three. The second hit does half the damage of the first and the third half again, with accuracy rolled for each one. A base max hit of 47 becomes 81 on a large target (47, 23 and 11).
That is why it rules big slash-weak bosses and why a fully stacked soulreaper axe beats it on 2x2 targets. Put both setups into the dps calculator before you pick.
Charging and upkeep
Each 100 charges needs one vial of blood and 200 blood runes, added at the vyre well in Ver Sinhaza, up to 20,000 charges. Since January 2024 a charge is only used when a hit deals damage. Both inputs trade on the GE, so your cost per hit follows the vial and blood rune prices. Taking the charges back out at the well returns the runes and vials.
Supply and what moves the price
The only source is the Theatre of Blood. Each player's chest holds a unique about 11% of the time in normal mode and 13% in Hard Mode, and the scythe takes 1 of 19 unique weights (1 of 18 in Hard Mode), making it the rarest item in the raid. Supply grows with raid traffic, while demand comes from players moving into large bosses and Slayer.
High alchemy pays 2.4m, a small fraction of its value, so alching sets no floor. Players who want stab instead often look at the rapier price from the same raid.