azwing wrote:
Here's an example. I bought the Teardrop Living Ruby cut off the AH for 800g the other day. Within two days I had sold 4 of them on the AH for about 65g each. So, within two days I had already recouped over 30% of my investment.
The design really only made you the difference between the uncut value and the cut value. If the living rubies sell uncut for say 55g on your server then you've made only 40g (10g per gem) extra by cutting them into Teardrop and it would take 80 sales to break even (before accounting for any re-list costs and AH cut of the sale price).
In response to the original poster, you can make money from JC in several ways:
1. Prospecting ore for gems. Originally this was almost exclusively for rare gems but uncommon gems now also carry a significant value and even the powder has good use. You can see the expected result here http://www.wowhead.com/?item=23425#prospecting and do the math based on ore price (and availability) and gem prices. Be aware that prospecting is random, some days you may get nothing but Talasite and it can be very frustrating. Also be aware that the unlocking of the Alchemy lab in Phase 4 of the Offensive allows access to epic gems which may affect rare gem prices significantly (ie expect price crash).
2. Cutting gems for profit. This can either be done as a service (sold via trade channel, charge a few gold per cut) or as a value added reseller on the auction house (cut your own gems or buy from AH, cut and re-list). On my server the price difference between cut and uncut varies typically from 5g to 15g so this is profitable but requires that you have access to popular rare designs which may be costly (300g to 1200g). It can easily cost 10.000 to 20.000 gold to pick up all the world drop cuts. It's also subject to severe competition and aggressive undercutting as there is no shortage of jewelcrafters. Meta gems carry the highest margins but are limited availability as creation is through an alchemy recipe with a 23 hour cooldown. At peak demand I've been able to sell Chaotic Skyfire Diamonds for 230g (components for a Skyfire cost about 110g).
3. Crafting uncommon and rare items for disenchant. There is a wide range of necks and rings which depending on material cost may be profitable to craft, disenchant and sell as shards, essences and dust. Essence and dust markets on many servers have tanked recently due to huge number of uncommon items from SSO reward packs. Shards are likely to crash in price when 2.4.2 patch is released. However it's still worthwhile to keep an eye on component prices and enchanting material prices as opportunities arise from time to time.
4. Crafting uncommon and rare items for re-sale. There's a few items which are excellent (possibly 'best in slot') and can sell very well on the auction house. The Necklace of the Deep is probably the most noteworthy as it's the highest pre-raid Agility neck available to druids, many guides recommend it and it's a solid seller on the Auction house (no shortage of druids, rogue and hunters out there!). There's several items other with random suffix that may sell well if you get 'of the Monkey' or other popular variants.
5. Brilliant Glass. This is a 'once per day' combine of uncommon gems into a container which holds one rare gem. Depending on the relative value of uncommon and rare gems on your server this may be profitable. After 2.4.2 patch it may provide an epic gem. Again this is highly random and can be frustrating when you get a streak of Talasite results.
Also don't overlook the value of being able to cut your own gems to avoid buying over-priced gems for your own gear. There is also some epic gem cuts available which are 'bind on pickup' for your own use only as well as a few trinkets, many of which are quite good.