Hyolith, Hero Among Heroes wrote:
Agreed, I was finally starting to get into the gem market but so far it has not been good. Obsidium Ore has dropped to about 50g a stack so I can buy a couple hundred, prospect it, and transmute with my alchy (hoping for procs). Yet they just don't seem to be selling, mainly, or else they are just really low priced. Some yellow and blues are selling for under 20g. Reds selling for under 75g. I need to find a steady market.
At 50g a stack, seriously consider all you can get your hands on, since there's currently zero risk:
Cut green-quality gems vendor for 9g.
Prospecting one stack of obsidium gives an average of 5.6 green-quality gems and 0.29 blue-quality gems.
The greens vendor for 53.1g. You should be able to squeeze 20g out of a random blue, so call it 5.8g for 0.29 of 'em. That's about 6g pure profit, since the 3.1g pays you for the time you spend cutting the greens.
Therefore, 50g for a stack of obsidium should be an absolute price floor. The only risk is that they'll patch in a change to the ventor price of cut green-quality gems, in order to lower the auction house deposit since so many auctions are being returned due to the JC flood.
(Edited since my proc chance for blues was too high, since at most one can proc per prospect) Edited, Jan 25th 2011 6:11pm by ElMuneco