From the big book o' broken magic: 
"These bracers of armor +6 give the wearer the benefits of the Improved Initiative feat and allow him an extra attack every round at his highest bonus as if he were using a speed weapon."
The market price for this is 102,000 gp. Suppose I don't want the +6 AC (I already have another item for that). How much would the speed ability and Improved Init feat cost?
One breakdown I came up with was:

"These bracers of armor +6 give the wearer the benefits of the Improved Initiative feat and allow him an extra attack every round at his highest bonus as if he were using a speed weapon."
The market price for this is 102,000 gp. Suppose I don't want the +6 AC (I already have another item for that). How much would the speed ability and Improved Init feat cost?
One breakdown I came up with was:
- +6 AC: 36000
- Speed + II feat: 33000 x2 (secondary)