Quest Questions

[Ryastar]

To answer your questions:

1. no, they are just valuable items. You can sell them (with full trade skill) for 35k, and 50k, respectively, iirc

2. he will have appeared in the eastern islands, up the coast to the right from the first landing spot in eastern islands (ie, where you can find mirabella). Once you find him, you can fight him, and then dig up his treasure, usually finding enough to more than compensate for the 20k you spent on the key.

Hope that helped!