Staff of earth or substitute
|-23,400 per hour|
1,800 x Phoenix necklace (5,319,000)
Phoenix necklaces are used in player killing to avoid rushing. Enchanting diamond necklaces into phoenix necklaces can be very profitable, and it provides significantly better experience than High Level Alchemy. The jewellery market on the Grand Exchange can be very volatile, so it is recommended to test out the profit before buying in bulk.
Put Enchant Level 4 Jewellery on your action bar and withdraw 27 diamond necklaces and a stack of cosmic runes. Press the spell and use it on the first diamond necklace, then wait until the the experience drops from the first one to use the spell on the next necklace. It's inconvenient that the phoenix necklaces look the same as diamond necklaces, thus there is no way to tell which ones are enchanted without seeing their names. Bank after you've enchanted all 27, and repeat the process.
It is strongly recommended to check the live prices on the Grand Exchange before making large investments in any method.
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