The second option might not yield as much gold in each sitting, but over time you can amass great wealth by being consistent with it. Plus, you build a reputation of being the go to person when someone needs something.

The principle of supply and demand does work in the World of Warcraft. So you can have a closer look at the supply and demand in it. When you are at the auction house, take a look at what items are being sold. Look at how many listings, pricing etc. This is your research component. High supply with low demand is going to equal poor results for you the seller. Obviously you want to look for high demand with low supply, i.e. tough to get items.

Still there are places and jobs in the World of Warcraft for you to farm money as long as you can committed yourself to the farming, while disregard the job itself, that’s to say, you should take no notice of whether the job is decent, respectable, clean or not. Believe it or not, you will be rewarded abundantly in terms of WOW gold if you have done the unwanted jobs in the World of Warcraft.
The World of Warcraft resembles the real world outside no matter on the dirty jobs, or even the sole seller or sole distributor. In other words, you can farm WOW gold by doing dirty job and being a sole seller. In real world, Dell Computers, Microsoft, Nokia are all examples of conglomerates that have or had control of their markets and therefore could command or dictate a price.