Ok first you need a strong character that can PK
Then follow these steps...
1. Find someone that is selling their character with gears on them
2. Ask for Acct/PW cuz they will oblige cuz they have their items locked
3. use the warehouse bypass to get all their stuff from warehouse
4. buy time by saying something like im gonna test this char out at GA or jail
5. get a noob and a water ready at some city other then twin city
6. use their character to PK the noob until he is red/black
7. get your main and pk him to get his items
you end up with either A. the dropped item or B. a bunch of cps
doesn't always work but its a good scam =)