Using DMG guidelines, we'd first get a base price of CL*SL*1,800 for an unlimited-use per day command word item - that's 1,800 gp. However, I don't think that's really appropriate for an identify item, so I'd make it 720 gp for a 2/day item instead.
However, that's ignoring a biggie: the 100 gp material component cost for identify. Looking at the table in the SRD, you have to shell out for the component 100 times - that's 10,000 gp (I could have sworn it was 100 components, but maybe they changed that from 3.0). So you'd have a market price of 10,720 gp, and a cost to create of 10,360 gp plus 29 XP, and taking one day to create.
I would probably also include a fudge factor of some sort to the base price, on account of the spell having a one-hour casting time, but command word items only taking a standard action to use. Something like a factor of 5 seems right, off-hand, increasing base price to 3,600, market price to 13,600, and cost to create to 11,800 gp + 144 XP (and taking 4 days).