if u mean by highest as in money i think its guilded armor but that's off the top of my head. If you mean by best then rune armor
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no you can not sell your house on runescape.
Selling runescape gold in the real world is illegal. You can "sell" runescape gold in-game for other items on the gran exchange locatedin the north-west corner of Varrock.
At the Grand Exchange.
There really is no item. But if you watch the grand exchange you might find an item dropping and buy it for lowest. Then sell for minimum or highest.. When it starts to raise again
You can sell them to noobs.