Click and loot!
The quest you have to complete is simple. Just talk to Gezhe in Nagrand to grab the reward. He's hanging around in the Consortium camp at 31,57. Keep in mind though that you need to be at least Friendly with the faction to grab the reward.
You get a different loot bag depending on your standing with the faction. The better your reputation with them, the more loot you get. The items in the loot bags are the same always: Gems.
Here's a list of loot bags and the reputation required to obtain them.
Friendly: Gem Stuffed Envelope
Honored: Unmarked Sack of Gems
Revered: Bulging Sack of Gems
Exalted: Bag of Premium Gems
The quest can be completed once in a month and it resets at the first day of a month.
So what makes them valuable?
Funnily enough, most of the blue gems you get out of the bags are often seen in the Auction House for less than 3g. Yet their vendor sell value is 3g. Most of the time there are a few colors that no one is selling, and these are often needed by professions.
Green gems, on the other hand are all valuable because they are needed by every Jewelcrafter who wants to get past 300 skill. They sell for less than some of the blue gems, but a lot faster.
I don't see many people prospecting TBC ores so there's not a lot of competition with certain gems. I usually sell green gems for 20-50g and blue gems 50-200g, depending on how needed they are by professions.
From my experience Golden Draenites sell the best. I've often sold many for even 100g a piece. These are needed for Flying Carpets that tailors can make. Sadly, most players don't realize how much people are willing to pay for these and dump them into the AH for 2-3g each. If there's not a lot of them, they most likely aren't gonna post any more and you can safely buy them and add a zero or two to the price. ^^
If you are not sure how valuable a certain gem is, leave a comment and I'll check it out.
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