Well most of you may know how this type of event goes.
A GM will hide himself in some place, and at a certain time he will give clues about where he is hidden. The first person to reach the GM will get the price.
There is no level limit for this type of event, so it goes the same chance to get the item, to all levels.
No PvP / Pk during the event.
Nice seeking

The rules can be changed anytime, with previous warning.