Marthisdil, it sounds more like there is a lack of Jewelcrafters on your server that realize there is a higher demand for red gems. On my server the profit margins on red gems are lower because most jewelcrafters buy those recipes first. The red gems themselves are more expensive of course, but if you are simply looking to buy red gems from the AH, cut them and make a profit - there is not much opportunity there.
Obviously server markets differ....but I make a ton of profit from both prospecting saronite (can be had for 15-18g/stack on my server on weekends) and in buying raw rubies from the ah (can be had easily for 50-55g ea on weekends).
Yesterday I picked up 2 stacks from someone for 40g/gem. Promptly cut them into bold and runed, and sold them all within 12 hours for 70+ ea.
Even when buying at 50-55 in singles, still plenty of profit to be made. Especially when compared to the depressed market for most other cur gems. I still sell lots of Chaotic Skyflare, couple other metas...and a few yellow/orange/purple cuts...but a lot of the non-meta cuts that I do sell are in the 20g/ea range, and sometimes I have to relist a few times, or the goldfarmers aggressively undercut, etc.
But with the rubies, I don't have this problem. I don't think there's but 1-2 other JCs that do the mass quantity that I do, but there are quite a few "dabblers" that push out the good cuts.
I've heard the horror stories of servers where the cut red gems are cheaper than the uncut gems themselves. Lucky for me, that isn't the case.
Past couple of days, the gold farmers have been dumping saronite and titanium to get their numbers up. I've picked up about 300 stacks of saronite past 2 days in the 14-15g/stack range...and about 30 stacks of titanium in the 100-120g/stack range.
Now I just have to sit and prospect all the saronite - zzzzzzzzzzzzzzzzzz. Bout 600 stacks lol