Identify

To identify means to reveal and "learn" the full properties of an item. Identifying an item will reveal any magical properties it has such as weapon upgrades (for weapons) or runes (for salvage armor) as well as its sell value at merchants. Most items (even non magical) will go up in value after being identified, sometimes yielding as much as a 50% increase gained by selling to a merchant, so identifying every item is a good idea as it very cheap (4 gold per identification with an Identification Kit or 5 gold with a Superior Identification Kit).

By identifying a weapon upgrade or rune you unlock it for PvP play.

To identify an item you need either an Identification Kit or a Superior Identification Kit. Items that display their sell value are already identified.

A per-Character Title exists denoting how many rare items were identified by that character. As such, it may be a good idea to identify rare item drops only by a single character which is working on that title track.