» Sat May 26, 2012 5:00 pm
firstly, enchanting is not much good for money making, as it involves disenchanting other items which can in fact reduce your income, and, without perks or expensive soul gems (or both), enchants won't add much value to items.
secondly, I am a mage, and I am very wealthy (level 18, 40k gold at the moment), here's how:
alchemy is your best bet, whenever you wander the wilds, pick anything you run accross, tends to lead to you taking a rather zig-zagging journey to each objective but it's worth it. If you're not planning on using alchemy for boosts in fights, and just want the money, then you can feel free to use all your ingredients each time you return to a place with a suitable alchemy table (keep in mind sometimes the potions can weigh more than the ingredients used to make them). Experiment to find out ingredient properties, or you can find some lists online, UESP has a good one.
the second method I use, involves alteration and blacksmithing. At early levels you'll be running into a TON of iron ore, get yourself a mining pick early on and grab it all. Next you need a spell of transmute iron, I had the good fortune to find a tome at halted stream camp, it's near whiterun i believe, one of those "bounty" quests took me there (quests from inkeepers). This handy little spell lets you turn iron ore into silver ore, and silver ore into gold. You see where I'm going with this? First check in blacksmithing, under jewlerry, see what you can make, don't think there's skill requirements for what you need but check to be sure, my blacksmithing levelled alarmingly quickly. Anyway, I like to turn all my ore into gold, and make gold rings, they provide the best return on your investment, and they're light and easy to carry. If you have any flawless gems, they can be used to make better rings and amulets.
as a potential third option, yes I said enchanting isn't much good but it does have a small use, if you find yourself cluttered up with filled soul gems, just enchant everything you can, I find if you enchant lower value items they tend to increase in value more than higher ones. Doesn't matter what you enchant them with, or what item you enchant, generally they'll add more value to the item than the money you'd have gotten from selling the soul gem so as long as you don't buy any soul gems, you'll come out on top. personally I like to use this in conjunction with the above method, enchant all my gold rings until I run out of soul gems.
another thing of note, your speechcraft skill has perks to improve the money you get from selling items, first perk increases it by 10%, doesn't sound like much but every little bit helps if you've got perk points you can spare.
one last point, from now on your main problem is finding enough merchants to sell things to. I find if you fast travel between a number of the major cities, by the time you've made it back around to the first one, enough time will have elapsed that the merchant's gold will have reset, and you can sell to them again. be sure to sell items to the most specialized merchants first, least specialized last, so generally I start with blacksmiths, then go on to alchemists, magic shops (like castle mages), and then sell what's left to a general trader (this is the exact order of shops in whiterun, other places have different shops so check around to see what each merchant will buy before selling sell to the one who'll buy the fewest of your items first).
Oh and for god's sake sell those dragon bones, general merchants will buy them, scales too, I believe their only use is in the blacksmithing tree.