To do this you will first need to find or buy a weapon that has a Banish enchantment on it, and disenchant it so you can perform that enchantment yourself.
How to farm Enchanting experience as fast as possible:
1. Buy a bunch of crappy weapons from the blacksmith in Whiterun, like steel daggers, iron daggers, iron maces, etc. The weapons can be any cheap piece of crap, even a pickaxe. The cheaper, the better.
2. Go to the wizard in Whiterun's castle.
3. Buy all of his FILLED soul gems. Yes, these seem expensive at first, but don't worry about that.
4. Use his enchanting table to add the Banish enchantment to your crappy weapons.
5. The Banish enchantment adds so much value that even a Petty or Lesser level soul enchanted into an iron dagger originally worth 100 gold, will now be worth around 1500-2000 gold.
6. Sell the enchanted weapons back to the wizard. He should have around 3-5k gold, much of which is gold that you just gave him for his soul gems. If you bought all of his filled soul gems to begin with, you will likely still have one or more Banish-enchanted weapons worth around 1.5-2k gold each, even after you've taken back your original gold.
7. Wait for 48 hours.
8. His inventory has now re-stocked and you can buy his new filled soul gems, and repeat the process, earning money and good enchanting experience in the process.
9. You will also likely be able to afford to buy the enchanted robes that he often carries. I would suggest buying them once each and dis-enchanting them, if you haven't already.
10. When all of your cheap weapons have been enchanted, go back to the blacksmith or general store and sell your enchanted weapons, and buy more un-enchanted weapons. You can also Wait for 48 hours to make these stores spawn more cheap weapons for you to buy.
11. Rinse and repeat.
How to farm Alchemy experience:
You will probably need to start out with a few thousand gold to get started. Overall, you should about break even or perhaps even make a profit during this process. I haven't solely been farming Alchemy alone, so I can't say if it ends up making money or costing it. But if you used the enchanting guide above to make big profits, then money shouldn't be a problem.
1. Go to the alchemy store in Solitude.
2. Buy all of the ingredients. If you are poor, just buy the cheap ingredients at first.
3. Go to the shop directly across from the Alchemy store. This shop also carries a decent stock of ingredients. Buy them all.
4. Wait 48 hours.
5. The shops have now re-stocked, so you can buy more ingredients from them.
6. Continue buying ingredients every 48 hours until you are out of gold.
7. Mix all of the ingredients into potions. It is better to just mix potions that you know will work, rather than experiment too much and waste ingredients. You should only be experimenting with ingredients if you have spare gold to throw away on failed combinations.
8. Be sure to use the ingredients for high-value potions first. Potions like Regenerate Magic, Regenerate Health, Slow, and the poisons that do damage over time tend to be worth the most.
9. Sell these potions back to the shop keepers, and use the profits from them to buy more ingredients.
10. Wait 48 hours and repeat.
It is that easy, for both of these skills. Ideally you will want to wear enchanted items that give you better prices with the merchants, and perhaps items that increase the effectiveness (and thus the value) of your enchantments and potions.
SirAwesomeXXVI posted... The problem here is finding a weapon with Banish to disenchant. I have still not found one to this day.
Absorb Health will bring a nice profit too.
Get the quest to rebuild mehrunes razor. I got a staff of banishing from the daedra that mehrune dagon summoned to kill me. I'm pretty sure its in the city of dawnstar. There's a guy running a mythic dawn museum out of his house. Talk to him.
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