Required Items:

Flotation Device
Items Obtainable On This Quest:

Dragon Key (dragon fangs from dragon serpents, 50%)
Chrome Key (huge basilisk, 100%)
Eye of the Beholder (beholder, 100%)


Go to the Grey Lord in the Floating Citadel (via Jorah).
Ask grey missions

You will need a flotation device to get to the Ancient Ruin.

Go to the Huge Basilisk in the Ancient Ruin.
Kill basilisk
Get chrome key

Loop the Ancient Ruins and look for the gray, green, blue, black and red dragon serpents. Kill them in order to get the different colored fangs.

Go to the Dragon Carving in Ancient Ruins (from Ancient Ruin Doors go w, w, nw, nw, nw, go alley).
Insert gray fang
Insert black fang
Insert green fang
Insert blue fang
Insert red fang

A dragon key will automatically appear in your inventory.

Go to the Beholder in the Ancient Ruin.
Kill beholder
Get eye of the beholder

Go to the Grey Lord in the Floating Citadel.
Ask grey eye

What You Will Get:

100,000 Experience
Status Enhancement (varies for each class):
 
Bard: +1 Stealth, +5 BS Damage, +4 Mana
Cleric: +1 AC, +6 Mana
Druid: +1 SC, +10 Mana
Gypsy: +2 Stealth, +2 BS Damage, +4 Mana
Mage: +1 SC, +10 Mana
Missionary: +6 BS Damage, +1 Stealth, +4 Mana
Mystic: +1 Max Damage
Ninja: +6 Stealth, +12 BS Damage
Paladin: +1 Max Damage
Priest: +1 SC, +10 Mana
Ranger: +6 Stealth, +13 BS Damage
Thief: +2 Stealth, +10 BS Damage
Warlock: +1 AC, +6 Mana
Warrior: +1 Max Damage
Witchunter: +1 Max Damage