It's quite a simple process, actually. The required materials for each transmute are:
- 3 Carnelians
- 3 Heartblossom
And that's it! Using Auctionator, you can easily search for these items on your server's Auction House and be instantly informed of the cheapest price per item.
Furthermore, the math is very simple to figure if this exchange is profitable. Just insert your values into the following equation and you are on your way to figuring if this transaction is profitable on your sever:
(Price of 1 uncut Inferno Ruby - (3(Price of 1 Carnelian) + 3(Price of 1 Heartblossom)))*0.95
For example, if Inferno Rubies were 130g, Carnelians were 30g, and Heartblossom were 2g, you would input the values and get the following results:
(130g - (3(30g) + 3(2g)))*0.95 = 32.3g
So long as the end number is positive, you will make a profit with the Transmute. Also, the reason for multiplying the entire equation by 0.95 is under the assumption that you're selling on the Auction House rather than via Trade Chat or a Trade Window and the Auction House takes a 5% cut from all sales on the Auction House. That being said, it's generally a good idea to tack off that 5% by multiplying your profit by 0.95.
But that is the equation. And if you're trying to calculate the profit gains if you plan to cut the gems yourself, simply change the value you input for the Inferno Ruby to that of which you're cutting (i.e. if Bold are selling for 150g and you cut a Bold Inferno Ruby rather than selling it uncut, you just replace the "130g" at the beginning of the equation with "150g" and re-calculate).
From there, it's all up to you. If you've found a niche market of profit via this method on your server, use it! Not all servers have a stable gem market or even one that can support this method of Gold acquisition, but if you are one one that does, use it. So long as people are playing the game, there will be a demand for Gems - and you can be there to meet that demand.
I hope this write-up has helped to add clarification; and, as always, good luck!