Isochron Scepter

According to the 3.5 SRD, items that grant a bonus spell cost (spell level)^2 x1000 gp. This item, when used for all 2nd level spells, grants an average of 3.5 bonus spells per day. Since it has the potential to grant more--up to five--I'd round that up to 4. Thus, I'd cost it in this manner:

4 (four bonus spells) x4 (spell level squared) x1000 gp = 16,000 gp.
 

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