First of all, you need to have the following requirements to start the quest:
- 400 million gold - 100k reputation - 30 Honor points - Ancient necklace (Buy from Item Mall Only)
If you have all the requirements you can go to Dream Island. Take off your ROSO necklace if you're wearing it and talk to the Supreme Master.
Choose How To Start Master Quest? >> Obtain Master Quest Start Badge >> Confirm to exchange.
You will obtain a blue Master Quest Start Badge.
Talk with the Supreme Master again. Choose The Master's Quest and accept it.
The Master's quest: Part 1
Now you have to kill 3x Master Pet. Master Pet respawns every four hours.
To find Master Pet you need to enter the portal (394,617 in Ascaron) on Dream Island.
Inside that map you'll need to go to the Master pet (93,152 in Ascaron).
After killing the Master Pet three times, you need to go back to the Supreme Master on Dream Island and finish the first part of the quest. There are three parts in total.
If you do this correctly, the Supreme Master will take your Master Quest Start Badge and give you a Master Quest Start Badge 2 and a Master Stone Piece 1.
The Master's quest: Part 2
Talk with the Supreme Master again and choose the option The Master's quest: Part 2.
As you can see, you need to collect 25x Master's Skull and 15x Master's Tooth. You can find these items on the same map where you've killed the Master Pet.
The Master's Skull is dropped by the level 115 - Skeletal Minion.
The Master's Tooth is dropped by the level 113 - Werewolf Minion.
After you have collected all the items, you need to go to the Mysterious Old Woman (363,600 Dream Island) near the Supreme Master.
Finish the second part of the quest.
The Mysterious Old Woman will take your farmed items and you will receive a Master Stone Piece 2.
The Master's quest: Part 3
Talk with the Mysterious Old Woman again to start the third part of the quest.
This time you need to farm 7x Masters Heart.
Masters Heart is dropped by the level 118 - Supreme Minion. These Supreme Minions are also on the same map as the monsters of the previous part.
After you have collected the Masters Heart, you need to go to the Forgotten Soul (682,263 Dream Island).
To reach him you need to enter a portal which is located North-East around (268,145) on the map.
Go to the Forgotten Soul (682,263 Dream Island) and finish the third and last part of quest.
In return for your hard work, the Forgotten Soul will reward you with the thirth and last piece of the Master Stone: Master Stone Piece 3.
Now you've collected all pieces for your Master Stone. Go back to the Supreme Master. This time you need to choose the option I wish to be a Master >> Become Master, I have Finished Master's Quest.
The Supreme Master will take all your Master Stone Pieces and give you a Master Scroll and a Master Stone.
Note: The system will TAKE your Ancient Necklace. It doesn't turn it into a Master Neck. You will get a Master Scroll.
Make sure your Ancient Necklace is in your inventory and double-click on your Master Scroll. Congratulations! You have finished The Master's Quest!
The stats of your new Master Neck is basically the same as your Ancient necklace: