I've been making tons of gold with leatherworking and I thought it might be time to share some of my methods here, seeing that there has been close to none threads about leatherworking. Methods are pretty simple but in my expirience they're not commonly used which is strange because this is a great opportunity for making gold. I've come to conclusion that at the moment botters (read: chinese farmers) favor leatherfarming which means cheap lesser leathers for us, how wonderful.
Savage Leather Scraps
This one is simple. In most realms Heavy Savage Leather & Pristine Hides are quite expensive when Savage Leather Scraps are not. We are going to transfer Scraps into Heavy Savage Leathers or Pristine Hides whichever gives us more profit. First thing we're gonna do is to check the prices of following items: Savage Leather Scraps, Savage Leather, Heavy Savage Leather and Pristine Hides. Lets have an example of scenario where prices are the following:
Savage Leather Scraps - 8g / stack of 20
Savage Leather - 60g / stack of 20
Heavy Savage Leather - 25g / each
Pristine Hide - 230g / each
Now, lets do the math.
One Savage Leather Scraps stack will provide us four Savage Leather which will provide us 0,8 Heavy Savage Leather. So, while buying Scraps we get 0,8 Heavy Savage Leather for 8g - we pay 10g for single Heavy Savage Leather. We profit 250% while buying Scraps (minus ah cuts of course). Pretty neat if you ask me.
We could also buy the Savage Leathers, which would provide us 4 Heavy Savage Leathers per Savage Leather stack. Four Heavy Savage Leathers would sell for 100g so we profit 167% while we taking this shortcut.
You can exchange ten Heavy Savage Leathers into single Pristine Hide from your factions Hide trader at Twilight Highland, so if Pristine Hides sell for more than ten Heavy Savage Leather we might as well exchange them. In our scenario this is not the case, so we just stick with the Heavy Savage Leathers.
Also when you craft anything at all, be sure to buy the cheapest one of the leathers. Do not buy Heavy Savage Leathers or Pristine Hides, they should always be more expensive than scraps or Savage Leathers.
TL;DR
1. Buy Scraps if one stack cost less than 0,8 Heavy Savage Leather.
2. Buy Leather if one stack cost less than 4 Heavy Savage Leather.
3. Sit back and make them into Heavy Savage Leathers. (Tip: You can just bind Scraps into your actionbars, do NOT use the spell from your Leatherworking list - it will take for eternity).
4. If ten Heavy Savage Leather cost less than a single Pristine Hide, go exchange Heavy Savages into Pristine Hides at Twilight Highlands.
5. Sell Heavy Savages or Pristine Hides
6. Profit
Epic Crafts
This method requires us to have
1. Atleast 515 skill on Leatherworking
2. Chaos Orbs from Heroic Dungeons
People are attracted to these brand new epics so we might as well help us all and make some profit by making these items. We have many items where to choose from. In total there is eight epic items we can craft: Chest & belt for both spellcasters and agility users in both mail and leather. All belts will require two chaos orbs to craft when chests need three. I would advice to not make chests because chests and belts tend to go for pretty much the same price (because the mats dont really have that much of difference except for the extra chaos orb in the chests). However keep an eye out - Prices might be different on your server.
Rest is pretty much up to your very own businessman skills, headline is to craft belts that sell in your server. I tend to make leather agility belts: Belt of Nefarious Whispers, because there have been alot Feral rerollers lately in my server and generally everywhere (wonder why, hehe). The belt requires 30 Volatile Airs and three Pristine Hides to make. The materials cost around 1000 gold to make and I can sell them for around 5000 gold each. This nets me 2000 gold per Chaos Orb which in my oppinion is not bad. If I were to make Leather Chests I would need to sell them for more than 7000 gold for same profit, because of that additional Chaos Orb, which is not that easy thing to do.
You can probably find several guides how to sell items in this section so I shall not give you tips on that section. Also because these crafts require you to acquire Chaos Orbs from last bosses of Heroic Instances, I suppose this not fit method for everyone. However as a tank, I can farm Chaos Orbs pretty swiftly when heroic queues are instant and I get to choose the pace how fast we complete the dungeon.
Here is the list of the epic crafts currenly available:
[Assassin's Chestplate]
[Chestguard of Nature's Fury]
[Belt of Nefarious Whispers]
[Lightning Lash]
[Dragonkiller Tunic]
[Twilight Scale Chestguard]
[Corder Viper Belt]
[Stormleather Lash]
Leg Armor Kits
The most obvious and maybe the worst method in most cases for making cash with Leatherworking is making leg armor kits. Epic kits require one Pristine Hide and 20 Volatile Fires for Tank kit or 20 Blackened Dragonscales for Dps one to make. If you can sell these for more than the cost of the materials, sure you can sell em. In my expirience, making these armor kits is pretty much the most common way for leatherworker to make gold so you'll probably get undercutted fast.
You may also try making the lesser, rare leg kits which require only six Savage Leather and four Volatile fire/water to make. I havent tried this one because I really dont believe it will work very well.
Crafting for money
Self-explanatory. Spam trade occasionally with "LFW [Leatherworking] 50g fee" for example. Not that much profit but no investments needed except for recipes of course. Be sure to snitch double fee when someone is looking for a crafter in a late hour.
I hope this guide has provided you atleast a bit of useful information and I apologize if anything mentioned is posted here before or someone finds this obvious or common knowledge.