Method 2: Filthy Rich and Getting Richer
This can be done with any item in the auction house, but it works best with items that are not plentiful and also items that are highly desirable.
The basic idea is very simple. Buy everything and re-price it. I have heard a case where a group of rich player bought *every* blue in the AH and re-priced them at 300% (or something like that). Market value is based on what people will pay, and if its an item that a player "needs" they will pay even an "unreasonable" price.
In this case you need to determine what item or items you want to control. If the item is too easily obtainable it is going to be too hard to control the price. Once you have picked your item you will need to obtain some stock. Farm the item if possible and then buy what the AH has. Re-price as you see fit.
The only thing you really need to do is pick up any items other players put up under cutting you. This is a rich player's game if you are dealing in higher end items. It is entirely possible to pick a more modest sector of the market though. Use your imagination. Item rarity and desirability are the keys to making it work.
