Make Gold with Alchemy

Alchemy uses herbs to create flasks, potions and elixirs which are used by all players but especially raiders. Alchemists can also transmute certain materials into other materials (e.g. eight Saronite Bars turn into one Titanium Bar). When an alchemist reaches level 68 and an alchemy skill of 345 or greater, they can become a specialist. The three categories of specialists are called master of potions, master of elixirs and master of transmutation. When you create an item that's the same type as the specialty you've chosen, you have a chance to gain an addition 1-4 of that item. I went with master of transmutation because I have a miner and a jewelcrafter. So if I transmute one Cardinal Ruby, I have a chance of gaining 5. You can make gold with any of them but elixir mastery is probably the best.

The idea of making gold with alchemy is pretty straightforward. This is generally the best way:

1. Make sure you have an herbalist and you gather your own herbs to make maximum profit.
2. Become a master of elixirs and create flasks.
3. $$$ profit!

These are the prices of the most popular flasks in the auction house on my realm.
Flask of the Frost Wyrm = 400g/stack
Flask of Endless Rage = 540g/stack
Flask of Stoneblood = 360g/stack

The cost to buy all of the mats to create 20 Flask of Endless Rage is 272 gold, so you would still make profit, just a lot less. That price doesn't take into account the extra flasks that you would get since you are a master of elixirs, so it probably wouldn't cost you quite that much. I wouldn't recommend that you sell the flasks in a stack of 20, selling them individually and in stacks of 5 would be better. Don't put too many in at once though because it will flood the market.

A second way to earn gold with alchemy is by transmuting an epic gem every day. The materials for Transmute: Cardinal Ruby will cost you around 55-95 gold, but selling the Cardinal Ruby will usually get you 170+ g. If you have a miner you shouldn't need to buy the mats for it, and if you have a jewelcrafter you can cut the Cardinal Ruby to make 200+ gold. If your not going to use your Transmute: Cardinal Ruby cooldown, you can sell it in trade chat for around 30g.

If the price of Saronite Ore is low enough you can buy 16 of them, smelt them, and then Transmute: Titanium.On my server 1 Titanium Bar sells for 4g more than 20 Saronite Ore, so it's possible to make gold but the profit margin is so small that it's not really worth it.

The price of flasks and herbs fluctuates during the week, especially on popular raiding days. Watch the market and learn when it's most profitable for you to sell your flasks and make gold with alchemy.