The [Vial of the Sands] is not restricted to those with Alchemy only. It is not Bind on Pickup anymore and can be traded and sold on the auction house. It is the prerequisite of the [Vial of the Sands]achievement.
Despite selling for a lot on the Auction House, awarding an achievement (and helping others, see Mountain O' Mounts achievement), and being the only craftable flying 2-person mount, this item remains uncommon due to the large resource cost and the cost-reward ratio.
This elixir is made by Alchemists with a skill level of 525.e