All right, I know it's nothing overly new, but it's certainly an awesome way to bring in the gold and I thought I would share my thoughts and logic about how amazing disenchanting is for item shuffling. Jewelcrafting + (dis)enchanting was a classic combo in Wrath, and it's still a great way to shuffle ore into larger profit margins.
Right now ore has dropped to 100g a stack on my server, sometimes you can get lucky and catch it below that. Last week ore was 200g a stack. Suddenly prospecting has become profitable. But wait, now everyone is prospecting gems. While uncommon gems still sell well, especially for dailies, the rare gem prices are unreasonably low. I haven't bothered selling any of mine yet. I'll either donate them to my guild bank or save them for later epic gem transmutations or when there's higher demand for gems.
I have been selling my uncommon gems in singles and stacks for levelers (mainly Hessonite) and daily required gems. When the gems aren't in high demand I craft them, yes *all* of them into the misc, random enchant items. While Jasper Ring seems the most logical to make, and is clearly the most profitable, I've still found it worth my while to also craft Nightstone Choker, Hessonite Band, Alicite Pendant and Carnelian Spikes. Obviously Carnelian Spikes are the least profitable, so I only make this when the market price for the gem is low and will have a higher DE value than selling the gems themselves. Since Carnelian isn't in very high demand on my server, it's more profitable to DE them.
A stack of Greater Celestial Essence goes for about 700-800g market price at the moment (23g per Lesser Celestial Essence), and a stack of Hypnotic Dust is going for about 600g+ as well (30g each dust). So, each green that disenchants into 1-3 Lesser Celestial Essence or 1-5 Hypnotic Dust is giving me anywhere from 23g-150g. While a large variable, if we wanted to just take an average of that (1.5 for lesser essence and 2.5 for Hypnotic Dust) we'd be getting (34g+75g)/2 = 54.5g per disenchant.
Ok so you're thinking, "but the uncommon gems are worth so much more on the AH than 54.5g, even just for one gem." Well, that may be true on your server, but the only time gem prices hike up are the days when JC needs them. There just isn't enough demand for uncommon gems. Most people just prospect themselves or get someone else to prospect, since it's so much cheaper to do it this way. For example Carnelian is only worth 22g50s, but the market is flooded and there's a very low demand for the gems. All gems but Nightstone, which is the JC daily today, are roughly 22g on the AH B/O.
When you factor in the price of the ore, 100g for a stack or 4 prospects yeilding 2 uncommon gems nearly every prospect, and we won't count the rare gems into our equations. So 100g/8= 12.5g per uncommon gem. Zephyrite is the worst to get, but you can still sell it on the AH for a fair profit to levelers, and also when it is up for JC daily. So you *could* just post your uncommon gems up and hope for a demand. Or...
You can convert them into a market that doesn't have enough supply. As I stated above, the enchanting market is so dry at the moment. It needs more, and is generally a fairly healthy market. So when you think about it, you're turning 54.5g-(12.5x2) = 29.5g per DE profit. This is assuming all your DE's are done using two uncommon gems, and ignoring the price of the JC settings. So a stack of ore at 100g turns into 218g. You're already making a 100%+ ROI, and enchanting mats sell much quicker and easily than the raw uncommon gems are now. And at 22.5g market price for uncommon gems, you would only be making 10g off a gem costing you 12.5g. Still a fair profit, but why settle for that?
Well I really enjoyed getting into the maths of that. A bit worried that I made a mistake in there somewhere. Note my numbers are based on MY server's current market values, and I chose the lower end of the price ranges for my calculations.