Working the Auction House

Throughout my WoW career, I have explored many different ways to make gold. I've farmed rare recipes and drops, farmed Saronite Ore (and Adamantite in BC), Frost Lotus, done tons of daily quests, and even tried making money by porting people around on my mage. None of these have netted much gold. However, as of recent, I have had lots of fun utilizing the auction house.

One example of how awesome the AH:
So my RL friend plays on a different server then I do, and he has been low on gold. So I told him, if you give my alt on your server 150g, I can try and make as much gold as I possibly can with it. After 10 days of minimal effort (5-10 minutes a day, I am up to 750g and about 450g worth of mats still to sell.

My favorite department to work in (within the AH) is the gems. Raiders need them, and lots of them. New ICC gear has many sockets for gems, which is awesome for gem merchants like myself. Many will say that tuesday, wednesday, and thursday are all the best days to sell gems, and I am finding this to be true for the most part. However, I usually can get almost the same prices on the weekends, and sometimes even higher prices. I think this is because so many people know when they should be selling, so they all sell on those three days. Which in turn means that the other 4 days will have much less gems on the AH. This means there is less supply, while not necesarily the same demand as during the 3 main days. And depending on how low the prices get on the 3 main days, the weekend prices are generally higher.

My general strategy is to buy low, cut, and resell high. Example:
I buy a Cardinal Ruby for 140g.
I then ask my JC friend to cut it into a Delicate Cardinal Ruby.
I tip the JC 5 gold for his service.
I then repost the same gem for 225 gold.
When it sells, I will receive around 215 gold after AH cut.
215-140=75 gold, but subtract 5 for the tip to the JC.

Final Profit - 70g. Not to shabby for such easy work.

Good luck!