Not quite sure whether hes farmed 24/7... and the king doesn't spawn that often. My guild was there for about 2 days and got 9 spawns - not the most fruitful camp. I'd think a more realistic amount would be 10k+.. I've seen people happy to pay more then 20k, but that's a bit ridiculous. But again, you have to think of what is takes to hold that camp for any extended period of time and factor in that rarity of the king.
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