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In all my time playing Diablo 2, I've found few very good charms (excluding the uniques). The market seems to be flooded with incredibly good charms - +1 to class skill tree, resistances, life, magic find, you name it. I've heard mention that it is possible to re-roll charms, and I've looked up the formulas. However, I know that level has a lot to do with the possibilities involved in the randomly re-rolled charm.

What is a good strategy for finding and re-rolling charms with the express purpose of creating high-power ("godly") charms for selling?

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The only strategy really is patience. –  StrixVaria Apr 30 '12 at 17:46
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2 Answers

up vote 14 down vote accepted
+50

Simple steps
Step 1: If you know what sort of charms you are looking for, you can use the charm affix list. This will give you the item level requirements for your specific charm. If you are looking for both a prefix AND a suffix, take the highest item level. Your character's level must be at minimum 75% of this.
Step 2: Find an area that has monsters that are at least the item's level. For the higher level charms, bosses may be the only option. Area level reference here. As shown, max area level is 85, And even Hell Baal is only level 99. So any item level of 85 or higher can only be found in the Worldstone Keep (Hell) and onwards. eg. One of the suffix`s is Vita, with an item level of 77 or 91. Since the only monster above level 91 is Hell Baal, getting this suffix means any charms he drops are level 91, and have a chance of the higher Vita suffix. Any other monster that drops a Vita charm will have less life (36-40 as opposed to 41-45).
Step 3: Brutally murder any and all monsters that meet these criteria. There may be some collateral genocide. This is usually to your benefit. Hope a charm drops from these monsters.
Step 4: Continue committing genocide until enough charms have dropped. Bonus if you collect lots of gems, too. You'll need them.
Step 5: After identifying charms, see if any provide what you're looking for.
Step 6: Insert charm and three perfect gems into your cube and hit Transmute.
Step 7: Does the charm provide what you wanted? If so, success! If not, repeat step 6.

Item Level

Item level is a hidden stat for every item. It dictates what affixes are possible for the item to have. Whatever items a monster drops are the same level as the monster. eg. Monsters in Worldstone Keep (Hell) are level 85. Therefore, all the magic items they drop are item level 85. Note: This does NOT guarantee that the items they drop will be better than what you currently have. They have a CHANCE of rolling a higher level affix.

Example: The prefix Serrated is item level 67. This means that any monster at level 67 or higher has a chance of dropping a charm with the Serrated prefix. However, the monster might drop a charm with the Forked prefix, which requires item level 37. This does NOT mean the item's level is 37. The charm's item level is whatever level the monster was. This is important to remember. When re-rolling the charm, it still has a chance of generating the Serrated prefix. Not a high chance, but a chance. Whereas a monster of level 37 can drop the same Forked charm, but has NO chance of generating the Serrated prefix, ever.

Extra explanation

Recipe: 3 Perfect Gems + 1 Magic Item → 1 Random Magic Item of the same type

The item level will match the inputted item, so you already need a charm that's of a high enough level to get the affixes you want. You can look here to find out what the minimum item level your current charms are. (warning, the list is huge) Look above for the explanation on item level.

Once you have a charm you don't want that's a high enough level, it's all a matter of luck.

Simplest example: If you're looking for a +1 to a skill tree, these are all item level 50. There are no other charms that have an item level of 50, so for the best chance of getting the tree you want, you'll have to find a grand charm that gives only +1 to a tree you don't want, and start rolling. The chances of this happening are roughly 10%. For the math (lots of math), go here. These are your best chance for finding + to skills.

Grand Charm Affix List
Note: I`m going to be limiting this list to grand charms only. The other lists can be found at the above affix list link.

Prefixes      Attributes                                  lvl 
=============================================================
Stout         +3-5 to Defense                               1 
Stout         +6-9 to Defense                               7 
Stout         +10-12 to Defense                            12 
Burly         +13-15 to Defense                            17 
Burly         +16-22 to Defense                            22 
Burly         +23-30 to Defense                            27 
Stalwart      +33-40 to Defense                            32 
Stalwart      +44-50 to Defense                            37 
Stalwart      +60-100 to Defense                           42 
Red           +1 to Minimum Damage                         15 
Sanguinary    +2 to Minimum Damage                         45 
Bloody        +3 to Minimum Damage                         75 
Jagged        +1 to Maximum Damage                          7 
Forked        +2 to Maximum Damage                         37 
Serrated      +3 to Maximum Damage                         67 
Rugged        +12-24 Maximum Stamina                        1 
Rugged        +25-36 Maximum Stamina                        7 
Rugged        +37-50 Maximum Stamina                       21 
Bronze        +6-12 to Attack Rating                        1 
Bronze        +13-27 to Attack Rating                       7 
Bronze        +28-42 to Attack Rating                      13 
Iron          +43-57 to Attack Rating                      19 
Iron          +58-72 to Attack Rating                      25 
Iron          +73-87 to Attack Rating                      31 
Steel         +88-102 to Attack Rating                     37 
Steel         +103-117 to Attack Rating                    43 
Steel         +118-132 to Attack Rating                    49 
Fine          +10-20 to Attack Rating
              +1-3 Maximum Damage                          15 
Fine          +21-48 to Attack Rating
              +4-6 Maximum Damage                          22 
Sharp         +49-76 to Attack Rating
              +7-10 Maximum Damage                         29 
Lucky         +1-4% Better Chance of Getting Magic Items   21 
Lucky         +5-7% Better Chance of Getting Magic Items   38 
Lucky         +8-12% Better Chance of Getting Magic Items  55 
Lizard's      +3-7 to Mana                                  1 
Lizard's      +8-13 to Mana                                 7 
Lizard's      +14-20 to Mana                               13 
Snake's       +21-26 to Mana                               19 
Snake's       +27-33 to Mana                               25 
Snake's       +34-39 to Mana                               31 
Serpent's     +40-46 to Mana                               37 
Serpent's     +47-52 to Mana                               43 
Serpent's     +53-59 to Mana                               49 
Shimmering    All Resistances +3-6%                      8-13 
Shimmering    All Resistances +8-12%                    14-34 
Shimmering    All Resistances +13-15%                      35 
Azure         Cold Resist +7-15%                            1 
Lapis         Cold Resist +16-20%                          10 
Cobalt        Cold Resist +21-25%                          20 
Sapphire      Cold Resist +26-30%                          30 
Crimson       Fire Resist +7-15%                            1 
Russet        Fire Resist +16-20%                          10 
Garnet        Fire Resist +21-25%                          20 
Ruby          Fire Resist +26-30%                          30 
Tangerine     Lightning Resist +7-15%                       1 
Ocher         Lightning Resist +16-20%                     10 
Coral         Lightning Resist +21-25%                     20 
Amber         Lightning Resist +26-30%                     30 
Beryl         Poison Resist +7-15%                          1 
Viridian      Poison Resist +16-20%                        10 
Jade          Poison Resist +21-25%                        20 
Emerald       Poison Resist +26-30%                        30 
Fletcher's    +1 to Bow & Crossbow Skills (Amazon Only)    50 
Acrobat's     +1 to Passive Skills (Amazon Only)           50 
Harpoonist's  +1 to Javelin & Spear Skills (Amazon Only)   50  
Burning       +1 to Fire Skills (Sorceress Only)           50 
Sparking      +1 to Lightning Skills (Sorceress Only)      50 
Chilling      +1 to Cold Skills (Sorceress Only)           50 
Hexing        +1 to Curses (Necromancer Only)              50 
Fungal        +1 to Poison & Bone Skills (Necro Only)      50 
Graverobber's +1 to Summoning Skills (Necromancer Only)    50  
Lion Branded  +1 to Combat Skills (Paladin Only)           50 
Captain's     +1 to Offensive Auras (Paladin Only)         50 
Preserver's   +1 to Defensive Auras (Paladin Only)         50 
Expert's      +1 to Combat Skills (Barbarian Only)         50 
Fanatic       +1 to Combat Masteries (Barbarian Only)      50 
Sounding      +1 to Warcries (Barbarian Only)              50 
Trainer's     +1 to Summoning Skills (Druid Only)          50 
Spiritual     +1 to Shapeshifting Skills (Druid Only)      50 
Natural       +1 to Elemental Skills (Druid Only)          50 
Entrapping    +1 to Traps (Assassin Only)                  50 
Mentalist's   +1 to Shadow Disciplines (Assassin Only)     50  
Shogukusha's  +1 to Martial Arts (Assassin Only)           50 
Septic        +5 Poison Damage over 3 seconds               1 
Foul          +15 Poison Damage over 4 seconds             12 
Toxic         +50 Poison Damage over 5 seconds             27 
Pestilent     +100 Poison Damage over 6 seconds            42 
Snowy         Adds 1-(2-3) Cold Damage (1 second Duration)  9 
Shivering     Adds (2-4)-(4-8) Cold Damage (1 second Dur)  15  
Boreal        Adds (5-7)-(9-15) Cold Damage (1 second Dur) 30 
Hibernal      Adds (8-13)-(16-25) Cold Damage (1 sec Dur)  45 
Ember         Adds 1-(2-3) Fire Damage                      5 
Smoldering    Adds (2-3)-(4-7) Fire Damage                 15 
Smoking       Adds (4-7)-(8-19) Fire Damage                28 
Flaming       Adds (8-18)-(20-36) Fire Damage              43 
Static        Adds 1-(4-5) Lightning Damage                 7 
Glowing       Adds 1-(6-17) Lightning Damage               14 
Arcing        Adds 1-(18-44) Lightning Damage              29 
Shocking      Adds 1-(45-79) Lightning Damage              44 


Suffixes      Attributes                                  lvl
=============================================================
Balance       12% Faster Hit Recovery                       1 
Frost         Adds 1 to 2 Cold Damage - 1 sec Duration      5 
Icicle        Adds 2 to (3-4) Cold Damage - 1 sec Duration  8 
Glacier       Adds 3 to (5-7) Cold Damage - 1 sec Duration 15 
Winter        Adds (4-6) to (8-11) Cold Damage - 1 sec Dur 23  
Flame         Adds 1 to 2 Fire Damage                       3 
Fire          Adds (1-2) to 3 Fire Damage                   8 
Burning       Adds (2-3) to (4-7) Fire Damage              14 
Incineration  Adds (4-7) to (8-14) Fire Damage             22 
Shock         Adds 1 to (2-3) Lightning Damage              4 
Lightning     Adds 1 to (4-7) Lightning Damage              7 
Thunder       Adds 1 to (8-21) Lightning Damage            15 
Storms        Adds 1 to (22-33) Lightning Damage           22 
Blight        Adds 6 Poison Damage Over 3 Seconds           1 
Venom         Adds 15 Poison Damage Over 4 Seconds          6 
Pestilence    Adds 25 Poison Damage Over 5 Seconds         14 
Anthrax       Adds 50 Poison Damage Over 6 Seconds         21 
Craftsmanship +1 to Maximum Damage                          1 
Quality       +2 to Maximum Damage                         41 
Maiming       +3-4 to Maximum Damage                       71 
Inertia       7% Faster Run/Walk                           19 
Greed         10-20% Extra Gold From Monsters               1 
Greed         21-30% Extra Gold From Monsters               7 
Greed         31-40% Extra Gold From Monsters              19 
Dexterity     +3-4 to Dexterity                             1 
Dexterity     +5-6 to Dexterity                            14 
Life          +5-10 to Life                                 1 
Life          +11-15 to Life                                9 
Life          +16-20 to Life                               19 
Sustenance    +21-25 to Life                               31 
Sustenance    +26-30 to Life                               45 
Sustenance    +31-35 to Life                               61 
Vita          +36-40 to Life                               77 
Vita          +41-45 to Life                               91 
Strength      +3-4 to Strength                              1 
Strength      +5-6 to Strength                             14 
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This is okay advice for how to get a +1 skill GC - not godly by any means (+skill and other mods would be). Nothing about how to find them? –  Ian Pugsley Apr 30 '12 at 18:05
    
According to the linked list, +2 to a tree isn't possible, and neither are +1 to all skills. I'll be adding requirements on how to find them shortly. –  Frank Apr 30 '12 at 18:09
    
Hmm, I appear to have been remembering ammy mods. Subtract one from all those levels. :P Nonetheless, something like a pcombat with life/res is not gonna be a level 50 charm. –  Ian Pugsley Apr 30 '12 at 18:22
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The place where you find the charms is crucial - people often will sell Grand Charms that drop from Baal for a decent price, as re-rolls can give you the best GC's in the game. –  Kotsu Apr 30 '12 at 19:42
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@fbueckert has covered everything already, I'd just like to suggest that it also depends on the char - get a character good at mowing down mobs, suitable Act 5 Hell place to kill them, and just count on the large number of drops to include a good haul of charms (that you can then reroll if needed). It won't be the highest level like Baal drops but good enough for +skill mods.

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Act 5 hell has a minimum monster level of 80; if you're looking specifically for +skill mods, you want monsters of level 50. Anything higher reduces the chances of getting the skill mod. Best place: Act 3 Nightmare. –  Frank May 14 '12 at 18:24
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