Magic Item Auctions

Consequential magic items aren't for sale. There are no magic items shops in The Maecodian Confederation. Abide Baht Mig's Caravan carries magic items, as do a select few other caravaneers, but their selection is limited and random. If you want to find or sell a magic item of any real power, you have to find an auction.
Magic item auctions are held by invitation only. To prevent the possibility of a heist, the locations for these auctions are secret. Depending on the host of the event and the agents sent to find it, an invitation may arrive as a map to the location or a puzzle to solve before the auction kicks off.
The format for the auction is almost always the same; An item is unveiled, an emcee announces what he believes the item to be (usually due to an Identify Spell). Then, the attendees begin bidding on it. These bidding wars are often straightforward, and often quite expensive.