The Red Gem Bubble

I was worried about the gem market crashing after giving advice to some people on my own server.  First let me say this, I don't mind helping people on my own server.  The information is readily accessible enough online as you my dear ready already know.   Secondly, I've been fairly dormant the last few months as is and simply talking about it gets me more interested in doing it.

So anyway, I was watching the gem market closely and of course elementium ore.  Sure enough, I noticed ore was crashing in price.  Ore was incredibly low from 30 to 40 gold.  I can speculate that people were eithe really farming or botting, but at the end of the day, that's Blizzard's issue not mine.  So I bought it all up.  I ended up dropping 35k on the market to prevent ore from rock bottoming and the entire gem market from going up in smoke with it--nearly 1,000 stacks of ore.

Prospecting this was beyond tedious.  Though, since I wasn't doing anything in the real world, I turned on the TV and started at it.  The one interesting thing I noticed was simply that while processing all this ore, I could simply camp the market and undercut like crazy.  Tuesday is a patch day and I exceeded my own expectations.  I sold red gems as fast as I could prospect ore to keep them up and literally brought in 32k.  That's outstanding.

Though inferno rubies have gone down by 50 percent, ore is has gone down by by almost 60 percent.  Effectively, by bailing out the ore market, I kept the inferno ruby bubble alive.  Unlike a real bailout, no one was aware of this but myself.  It created the illusion that prices were going to stay high.  Effectively, by using my massive wealth, I had my cake and could eat it too.

The price was the literal babysitting of the market.  I kid you not that I was posting 3 gems of each red type at a time every 3 to 6 minutes--I didn't even bother with the rest since I was trying to clear all the ore out.  Normally, I couldn't stand to spend my time that way, but since I was trapped on my druid breaking ore, I figured I really didn't lose anything watching it like a hawk. 

By looking at my totals, I've already made more money on gems than I have on inscription.

 Here TSM really shines again.  It does the accounting for me and lets me really understand what I am doing better.  I mean before, I knew I was turning a huge profit, but I didn't understand how much.

152 gold Delicate x 212=32,224
175 brilliant x 340=59,500
145 bold x 308=44,660

My grand total is 107,384 gold!

Gold spent on ore is  98,593.

With 223 red gems left to sell.  If I average the three cuts and assume they sell evenly (averaging I get 157 gold per gem), then I have 35,085 gold to earn before auction house cuts.  That's 45k...ignoring all the enchanting mats and other gems.

Jewelcrafting very well may be king among professions.