How much would this magic item cost?

[Firzair]

If you go by the rules Firzair then you do not square the spell level. Yuo multiply the spell level by the caster level.

So you get 5*9(minimum caster level)*2.000=90.000

It would cost even more by my rules as you would use the formula for making a spell with a duration of 1 round/level permanent, that would cost you 4500 gp * 5 * 9 = 202500 gp to create and 16200 xp. I said the prices were open for discussion
Oh and for the reaoning behind using caster level in the fomula, there are indeed spells that have caster level dependent effects, like e.g. protection from arrows. I think that should be reflected in the price.

But I think that a big deal of common sense is required when pricing magic items. And no matter how good a charter you have there will always be some items that breaks the pricing formula.

But the reasoning behind my rules is that the creation of magic items should really follow hard rules defined by the power of the magic being used or bound. The market price would have to be much higher (minimum double). Does magic know, that an item with spell XXX of level Y would be so much more effecient than an item with spell ZZZ of level Y? I think only the market price should vary.
But I'm with you, some items just shouldn't be created.

Greetings
Firzair