Refers not to using the rename option. Instead it literally renames the item. An iron frying pan can become the iron Doom Pan. Everything else from the original item is retained: type, material, ql, dmg, enchants, rarity, etc. Intended offhand for Heirloom items and/or really unique player crafts; though, personally if you want to spend the coin, go nuts. At least within moderated limits. Price: 50s?