OTOH, I use pre-MIC pricing and I'd never let a character get HIPS via anything other than a class ability, so my pricing is probably biased on the high side.
In the 'Tome of Magic', there's an item called 'Collar of Umbral Metamorphosis' on page 156.
It grants you the 'Dark Creature template' described in the same book on page 161 for up to 10 minutes per day.
The most interesting thing of the 'Dark Creature template' is that it grants you 'Hide in Plain Sight' (except in natural daylight, the daylight spell, etc.).
This item costs 10,800gp. A variant version that works continously is priced at 22,000gp.
Let's see how close can we get with Core items, and how much does it cost...
Goggles of night: 12,000 gp (Darkvision)
Minor Ring of Cold Resistance: 12,000 gp (Resistance to cold 10)
Boots of Striding and Springing: 5,500 (+10 land speed; the Dark Creature template gives a boost to all movement modes, but the Boots also give +5 Jump)
Low-light vision: Not obtainable through Core items
Hide in Plain Sight: Not obtainable through Core items
Cloak of Elvenkind: 2,500 (+5 Hide; template gives +8)
Boots of Elvenkind: 2,500 (+5 Move Silently; template gives +6).
So with five different items (two of which are mutually exclusive), you can get a lesser version of the limitless-use collar for about half again the expense.
...
Who thought that item was reasonable? Seriously.... +1 LA, no use cap, for 22,000 gp, rather than actually putting you a level behind? Are there any actual downsides to it for, say, a Beguiler?
No kidding! I wouldn't even pay 100k for HiPS. It's not the same as invis, you still need to jack up your hide modifier insanely high for it to reach such equivalencies.
1) DMG table for item creation has a first step of "compare to existing items", not "look at the table". Plus, a Use Activated item of True Strike is the poster-child for why those tables aren't so grand (2,000 gp for +20 to all attacks, 4,000 gp if unslotted).I appreciate how much work you put into backing up your argument, but there are several flaws here.
-Goggles of Darkvision are a ridiculously overpriced item. Seriously, you can (by the suggested DMG table for item creation) use a spell from spell compendium to get a limitless use activated darkvision much cheaper. And if using MIC guidelines for what things are "really" worth, the price drops more. Also, the Dark template's darkvision doesn't stack with racial darkvision far as I know, and I'd hope any sneaky character would already have such a key ability before he could drop 10-20k on one item.
Also not included in my cost calculations. And no, it's not necessary, but it's one of the things that's granted, so it's something I check when contemplating balance of the item in question relative to core items.-Lowlight vision: A first level spell, and IME hardly a necessary thing to have.
A stealthy character will make fairly common use of basically everything except the cold resistance, or stuff they have already. And the cold resistance comes up if your DM is fond of direct-damage effects. Hence I include it.- You're saying the collar's good cause it's giving all these things in one slot. MIC says slots aren't as important, as long as you're tacking on common effects, including those skill bonuses. In fact, it could be argued that almost no character will ever need everything from that grab bag, so it should be cheaper bundled together.
Do note, with the items I listed, you're looking at about +50% for the no-duration-cap variant. Mind you, that doesn't cover either the Hide in Plain Sight or the Low-light vision, and uses lower skill points. Evasion, a 2nd level class feature, can be purchased as a ring for 25,000 gp. A Ranger's Hide in Plain sight is a 17th level ability, while a Shadowdancer gets it at 1st level... but the Shadowdancer requires a minimum of 7 character levels prior, so it's effectively an 8th level ability (comparing to Core, at least). If you follow the "standard" progression (level ^2 * some constant) for most items, using a 2nd level ability as a base (resulting in a "constant" cost of 25,000 gp /(2*2) = 6,250 gp), you get a value of Hide in Plain Sight of 400,000 gp. If you treat Hide in Plain Sight as being approximately equal in use to Evasion, then you're looking at that aspect alone being worth 25,000 gp - which is, in and of itself, more expensive than the uncapped collar.I think the minute/day version may be ok, and the unlimited use should probably be worth +50% or even +100% the current value, but that's a far cry from the numbers other people are tossing out.
... you missed a 0. 3,000 xp for a +1 LA buyoff.I think the issue partly depends on whether or not your group uses LA buyoff from UA. if so, that +1 LA is effectively only worth 300 xp, and it starts to look not so bad. And it's hardly the worst +1 LA template. Just be thankful it gives no stat bonuses *looks angrily at that stupid Lolth one that gives str and con +6*
1) DMG table for item creation has a first step of "compare to existing items", not "look at the table". Plus, a Use Activated item of True Strike is the poster-child for why those tables aren't so grand (2,000 gp for +20 to all attacks, 4,000 gp if unslotted).
I thought use activated and continuous items couldn't be made out of personal spells? It seemed that way, at least.
2) The Goggles of night don't stack with darkvision, either. I'm comparing what it does for a human, as a default, as the template the collar grants gives a particular set of stuff, and someone optimizing things will avoid overlapping abilities.
A stealthy character will make fairly common use of basically everything except the cold resistance, or stuff they have already. And the cold resistance comes up if your DM is fond of direct-damage effects. Hence I include it.
Do note, with the items I listed, you're looking at about +50% for the no-duration-cap variant. Mind you, that doesn't cover either the Hide in Plain Sight or the Low-light vision, and uses lower skill points. Evasion, a 2nd level class feature, can be purchased as a ring for 25,000 gp. A Ranger's Hide in Plain sight is a 17th level ability, while a Shadowdancer gets it at 1st level... but the Shadowdancer requires a minimum of 7 character levels prior, so it's effectively an 8th level ability (comparing to Core, at least). If you follow the "standard" progression (level ^2 * some constant) for most items, using a 2nd level ability as a base (resulting in a "constant" cost of 25,000 gp /(2*2) = 6,250 gp), you get a value of Hide in Plain Sight of 400,000 gp. If you treat Hide in Plain Sight as being approximately equal in use to Evasion, then you're looking at that aspect alone being worth 25,000 gp - which is, in and of itself, more expensive than the uncapped collar.
Now, granted, there's a lot of internally imbalanced things in Core (Fighter-20 has significant difficulty keeping up with a Wizard-20 in terms of in-game usefulness, for instance), but balance is also a relative term. Relative to Core items, the no-cap version of that collar is significantly underpriced for what it does. By a lot.
... you missed a 0. 3,000 xp for a +1 LA buyoff.
Of course, the LA buyoff rules are badly worded. You're an Aasimar Sorcerer-2, who just hit enough XP to become an Aasimar Sorcerer-3 (6,000 xp), so you spend 3,000 xp to remove the level adjustment, leaving you at 3,000 xp... which, with the +0 LA race that you now are, is still enough to make you a Sorcerer-3 - so you level up anyway - at no noticeable cost, even in the short-term.

(Dungeons & Dragons)
Rulebook featuring "high magic" options, including a host of new spells.