The reward for setting one torch on fire is:
(can sell to npc for 1k)
(can sell to npc for 1k but players can pay more)
(death ring is worth 1k another rings few hundred gp)
(50 christmas tokens worth 500-1500gp each so take 1k)
(2 gold ingots 5k each so 10k)
(Giant pearl 3k)
(30 small topazes 200gp each so 6k)
To sum up for one torch, we will receive: 91k+
The reward for setting all torches on fire is:
(can sell to npc for 10k)
(can sell to npc for 1k but players can pay more)
(Rings few few hundred gp)
(50 demonic essences can sell to npc for 1k but players pay more 1,2-1,5k)
(4 gold ingots 5k each so 20k)
(Violet gem 10k)
(40 small diamonds 300gp each so 12k)
To sum up for all torches, we will receive: 202k+
As for the method, the best is to have a large number of low-level characters located in the kazordoon, and use them to torches located in the Dwacatra dwarf prison. This is a good place for several reasons, pacc is not required, it is close to the depot and to the place where the prizes are collected. To get there you need the key 3802 and to clear the place from the monsters because you can meet there Dwarf, Dwarf Soldier, Dwarf Guard, Orc Shaman, Orc Berserker, Minotaur, Minotaur Archer, Minotaur Mage, Bride of Night ( event monster can be summoned after light torch but not every time this monster can drop midnight shards too)