in the grand exchange. You have to right click the clerk and press exchange grand exchange clerk
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If u r talking about a dwarf cannon, then yes around 550K-850K
north of falador in front of dwarven mine
the price can change but now it is around 750k to 1m.
When your cannon fully degrades and disappears all you have to do is go back to the dwarf that u bought it from, and if you bought it of another player or G.E. Then all you have to do is go back to the dwarf you started the quest at. ( I forgot where he is so don't ask me )
You can but i did also hear don't do it against big monster like Kalphite Queen or King Black Dragon, because they will simply break it and you will have to get a replacement.