Icy Cloak

The simple formula is Icy Cloak -> disenchant to Large Glowing Shard.

Icy Cloak http://www.thottbot.com/?i=5035

The recipe for this is sold by the trade goods merchant in Southshore for the alliance, I do not know for the horde.

My costs were simple.

Frost Oil - 1 per 1gp - 1.3gp
Mageweave - 20 stack for 80 - 90sp
Thick Spider Silk - 2 for 80 sp
Thread - 4.25sp each

So, approximate costs were 1.3 + .70 + .8 + .085 = 2.9gp rounded up on the high end, 1 + .6 + .8 + .085 = 2.5gp on the low end.

The Large Glowing Shard sells on Deathwing for 4gp a pop. Or as an enchanter, you can enchant +3 1h striking for 5 using this.

For those individuals who like to do this on a self-sufficient basis, the Frost Oil formula is sold by a goblin on the north wall of where the Alterac Crushridge Elite ogres are. Also, if you don't have a herbalist, Khadgar's Whisker and Wintersbite are moderately affordable on Deathwing, dropping the production cost of frost oil down to about 70 sp. If you have a alchemist or an alchemist buddy, that's another 30-60sp of end item profit. Frost oil requires a 200 skill in alchemy.

Thick spider silk can be easily farmed by those 38+ in dustwallow marsh, in the Darkmist cave. They also drop decent vendor loot (3-5sp each) as well as Shadow Silk, which can be used in tailoring to produce 38+ Shadow Priest gear that sells moderately well.

In 15 mins Saturday, I bought, tailored, disenchanted, and put 8 shards up on auction. Remember, shards have no value, hence the AH does not charge you a fee for putting them up for auction. I logged in the next day, all had been bought out at 4gp.

This is a simple method to constantly auction with no loss. It's a proven formula, at least in terms of large servers where enchanting is in moderate to high demand (refer back to the post on disenchanting Green Lenses).