Firstly, I buy inks because I don't like milling. Even with auctioneer/automagic, you still need to 'Ok' every mill (4 OK's per stack of herb). While I know how to fully automate this, it is possibly against the terms of service, with insufficient reward for the risk. (I have no idea why it is permissable to queue the creation of 20 glyphs, but not queue the milling of a stack of herbs.) Plus Wek is a mostly reliable supplier.
When I told Wek of the expected price cut, he 'offered' to sell ink to Breevok, partly to make me protect my supply, and partly to test the waters with other buyers. I wished him best of luck (and still do). From what I read, Breevok is offering 1g each. The AH is offering more, but not in the volumes that Wek can do. He could also offer to supply the other glyph sellers. If its any consolation, herb prices will probably drop even further.
For the time being I am in a holding pattern. I am incurably stubborn, far more so than the majority of WoW players, even the AH ones. At 5g (4.75 after cut), I am still making a profit, for little effort. I am currently making glyphs about once per week, keeping a stock of 20 of each. Last week, I made about 2k profit on glyphs (after the cost of inks + parchment + lost deposits). Not a lot, but enough to keep me interested. My being stubborn has seen other players try and fail to remain in the market. I will probably tweak my strategies with Breevok re-entering the glyph selling game.
My eye however is on selling an excess of gems, and Cataclysm. With the ability for players to learn every glyph, I expect another 'dual spec' phenonemon, where everyone buys out all glyphs at whatever price they need to. I am betting a few guild bank tabs of ink on it. While I have no expectation that I will be a sole supplier, I want to be in a better position than the next glyph seller.
To do this, before cataclysm:
- I will have pre-stocked all glyphs (probably 40 of each, up from 20), buying where they are cheaper than making them.
- Have a mix of inks. At the moment Ink of the sea can be converted to anything else. From what I read, come cataclysm, a new ink will take this role. The majority of lazy wannabe gold makers will only stock Ink of the sea, so I will hold a few less of these.
- Discourage some other players (Note: On Caelestrasz, there is not enough gold in inscription and too many players to even attempt to 'own' the market)