I had a guild member ask me what I have been up to so far on the AH side of things, and I figured I may as well share here too.
The backbone of my routine is/was the
Saronite Elementium Ghost Iron Shuffle. Basically, you buy stacks of Ghost Iron Ore at X gold, then through Prospecting/Alchemy/Enchanting/etc you turn it into a product worth X+Y gold. Every realm/faction market is different, so individual research will be needed to find the values for X and Y. Right now, for example, I buy Ghost Iron Ore at 4g apiece (and below). This ore ends up being:
- Smelted into Ghost Iron Bars –> Transmuted into Trillium Bars –> Transmuted into Living Steel
- Prospected –> Rare gems cut for >60g minimum
- Prospected –> Uncommon gems turned into necks/rings –> Rare necks/rings procs sold for 300g, uncommon necks/rings Disenchanted for Dust
- Disenchanted Dust –> Enchanting scrolls and/or sold for mats
After a while, I started getting exceedingly lazy and stopped prospecting altogether. Instead, I keep an eye on the Golden Lotus market and snatch any up that are 50g or less. From there, I keep ~5 of each flask up on the AH and then Transmute the rest into Rare gems which I cut and sell for a minimum of 60g, but generally 100g+. This probably lowers my margins significantly, but once I made it back up to my 300k starting gold reserves (even after gambling ~100k on Darkmoon trinkets), relisting hundreds of auctions a day becomes less and less interesting.
One market I was surprised to find was the Ghost Iron Dragonling. While most Engineers will be dumping a bunch on their way up to 600, what I have found is that in 99% of the cases they list them without bothering to fill in the Cog sockets. Considering the item is damn near useless without them – and taking a cue from someone spamming trade chat for an Engineer to make some – I started selling mine with a variety of useful Cogs already slotted in; configurations like Haste/Mastery/Spirit, Haste/Crit/Mastery, Hit/Expertise/Dodge, and so on. Remarkably, they continue to sell at an absurd mark-up: 750g apiece compared to the empty ~200g models.
Presently, I am buying up a bunch of Ghost Iron Ore again, in preparation for the new Blacksmith changes coming in 5.2, and the whole Lightning Steel Ingot deal. I am somewhat doubtful that the price of ore will jump up in the long-term on my particular backwater server, but I figure I may as well start stockpiling now. In fact, it is far more likely that my server will experience a lack of availability than a lack of affordable goods. Until a week ago, you could not find Blood Spirits at any price, for example.