At the most basic level, there are three steps to creating a magic item: First, figure out what is required to create it. Second, get the required things. Third, create the item.
I would like to see a system which supports two options for each step--either an "interactive" approach, where it gets role-played out, or an "abstracted" approach where you just spend cash and down time. It's up to the DM to decide which option applies for each step. You might have to do a lot of talking to suspicious people in dark alleys for step 1, and go on a quest for step 2, but then step 3 is just a 24-hour ritual which costs a bunch of money. It could vary between items, too. For minor items like a potion of healing, you might abstract all three steps. Forging a holy avenger could require playing out all three; the creation ritual of such an item would be very dangerous, as archdevils and demon princes exert their power to stop you.
The "interactive" option for each step would be presented as the default, and would include some general guidelines and ideas for the DM, not to provide hard-and-fast Rules, but because it's always a challenge to whip up an exciting side quest on the fly. It's a lot easier if you have some examples in front of you. The "abstracted" option would be an optional sidebar and would give some pretty clear guidance on money and time. (It's best to put this in a sidebar so players don't assume it's available.)
Of course, there's a third option, which is simply: "There is no known way for you to create this item. Sorry." That should also be presented as a possibility to consider.
I would like to see a system which supports two options for each step--either an "interactive" approach, where it gets role-played out, or an "abstracted" approach where you just spend cash and down time. It's up to the DM to decide which option applies for each step. You might have to do a lot of talking to suspicious people in dark alleys for step 1, and go on a quest for step 2, but then step 3 is just a 24-hour ritual which costs a bunch of money. It could vary between items, too. For minor items like a potion of healing, you might abstract all three steps. Forging a holy avenger could require playing out all three; the creation ritual of such an item would be very dangerous, as archdevils and demon princes exert their power to stop you.
The "interactive" option for each step would be presented as the default, and would include some general guidelines and ideas for the DM, not to provide hard-and-fast Rules, but because it's always a challenge to whip up an exciting side quest on the fly. It's a lot easier if you have some examples in front of you. The "abstracted" option would be an optional sidebar and would give some pretty clear guidance on money and time. (It's best to put this in a sidebar so players don't assume it's available.)
Of course, there's a third option, which is simply: "There is no known way for you to create this item. Sorry." That should also be presented as a possibility to consider.