The Chosen Ones

Ragnarok: A sword whose blade is kept super-heated by some kind of special gizmobob, or something.
Electro Boots: This piece of everyday clothing is magically enchanted to provide enhanced speed. But why?!?
Sunrise Set: A suit of heavy armour, forged for and worn by a legendary Paladin. It's meant to represent the rigidity and... protection of the Paladin Code or something?
Crown of Magic: A crown worn by a legendary wizard. It has 'mind-enhancing effects'.
Omega Helmet: It's either intimidating or incredibly silly, depending on who's wearing it, and where. I mean, an axe-wielding man with a huge beard and frothing mouth could use this to further scare his foes, but if, say, a lawyer wore it, it wouldn't work so well. But maybe...
Angel's Gift: It is traditional for Knights to pray to stars for fortune before a quest. It is said that those of pure heart who prayed with the most selfless intentions and the most passion would meet amongst the crowds of peasants who saw them off a mysterious little white-haired girl, who, with an innocent smile, would wish him luck and present him with this delicate artefact.
Amethyst: A coloured variety of quartz, usually used to adorn jewellery or armour. It's superstitiously believed to protect from intoxication, but this has never been proved in the slightest.
Otzi Claw: It's, uh, a dead otzi's hand... What would you want THAT for? Practical jokes, probably. You sicken me.
Basic Armor: A generic suit of armour. Its name is stupid.
Branch of Rejuvenation: This branch would easily succumb to the ravages of fire.
Coin Sword: This sword IS, as its name implies, exorbitantly expensive! People will think you're classy indeed if you wield it, surely.
Storm Ring: You'll be the talk of the town with this shiny ring!