So I spent a good portion of yesterday looking at inscription and trying to get a foothold in the market. There is a lot of work to be done at startup. I am most of the way through milling about 10k worth of Pandaria herbs, crafting them into inks, and then trading them for what I need (more on that in a minute). I took a more in-depth look at the glyph market on my server and discovered that not all glyphs were selling at 10g or less like I initially thought. It turns out that it was just all the ones I was making. A LOT of glyphs are currently selling at 45g. I suspect someone has taken the trouble to reset the market recently, as the shear number (around 150+) of glyphs posted at the same price seem more than coincidental. I would very much like to capitalize on this reset.
To begin, I went into TradeSkillMaster (TSM) and did a profession scan for inscription. This scanned the auction house for everything related to the profession including glyph prices as well as all the inks, pigments, scrolls, volatiles, and any other component of a scribe's recipe book. I scanned on Monday and Tuesday, and will try to do so again tonight before I finish crafting. I then did the math, based on my previous herb buying prices from my Darkmoon deck making (synergy!).
So at 3 inks/glyph I get a crafting cost of 19.5g per glyph maximum. That turns out to be a 25g/glyph profit if prices can stay that high. To get truely invested, I am attempting to craft about 1500 glyphs. I am going to craft 10 of each profitable glyph and try to maintain (restock once per week) a supply of them to keep up with demand and price fluctuations of the AH.
While setting all this up in TSM took a bit of time, the payoff was seeing immediately which glyphs were profitable and which inks I would need. This is proving invaluable as I trade inks down. I have all the lower inks I need aside from the WotLK levels, which I am still milling for. I happily discovered a lot of LK herbs for very cheap just before raid last night and spent the majority of the raid milling away. Currently I have about 1-2/3 guild bank tabs filled with ink. I should be able to begin crafting tonight and hopefully auctioning as well. (hello bank guild achievements!)