Well after the changes to jewelcrafting (purple gems) I thought, okaj its short lived prices will drop soon enough and the money youll make of it will be nought to 3G a gem....
I was sooo wrong and I love it.
Right now the basic epic gem costs: 100-150G on my server. (most hanging around 120G)
So this is expensive but who cares if have some start capital.
The best thing to actually begin making money is get:
Red gem 130G: +spellpower
Yellow gem 110G: +hit rating
Green gem 145G: +Intellect and MP5
Orange 125G: +hit and spellpower
Purple 100G: +spellpower and mp5
I sell those for respectivly: 180;200;200;170;170 gold... I sell about 10 each day...
(well starting so hopefully)
so small math =
50G x10 = 500G
90G x10 = 900G
55G x 10 = 550G
70G x 10 = 700G
so 2650G - 400G+/- (relists+ ah costs) = 2250G (give or take a few coins) profit a day!
Yes the 2.2K gold is profit... total money in = about 10K and more...
which also means to do this you'll need about 10K gold...
ofcourse some of these gems have little competition so you can start in smaller nr.s on these.
The best tip I have for you before you start is the following: Start with 1 gem of each colors since the same color doesn't exactly enlarge your profits, it just makes the chance to sell bigger.