The OD&D rulebooks and supplements never properly addressed the costs of magical enchantment nor how many experience points should be rewarded for finding magic items. There is some guidance given in Men & Magic and some further clarification in the FAQ printed in Strategic Review #2. These are useful for extrapolating some rules to cover the whole array of magical items and possible enchantments.
After looking very closely at the examples of costs in Men & Magic regarding making magic items I managed to shed some light on the subject. At first glance it seems like a very incomplete list (and it may be the case that it still is), I was at a loss for ages but I had a slight epiphany eventually! If you look at the items Gary has chosen to give examples of you might break them down into the following categories:
Scrolls
Potions that create the effects of a spell
Potions that create special abilities
Enchanted arrows
Enchanted armour w/out special abilities
Wands
Rings that create special abilities
Here is the original list:
Scroll of Spells = 100 Gold Pieces/Spell/Spell Level/Week (a 5th-level spell would require 500 GP and 5 weeks)
Potion of Healing = 250 Gold Pieces + 1 week
Potion of Giant Strength = 1,000 Gold Pieces + 4 weeks
Enchanting 20 Arrows = 1,000 Gold Pieces + 4 weeks
Enchanting Armor to +1 = 2,000 Gold Pieces + 2 months
Wand of Cold = 10,000 Gold Pieces + 6 months
X-Ray Vision Ring = 50,000 Gold Pieces + 1 year
To support this "categorisation" if you read Gary's FAQ article in Strategic Review #2 he breaks down how XP should be awarded for magical items, and he uses very similar examples, which might appear to be categorised in the following way:
Scrolls = 100 xp per spell/spell level
Potions that create the effects of a spell = 250 xp
Potions that create special abilities = 500 xp
Enchanted arrows = 100 xp per arrow
Enchanted weapons w/out special abilities = 1,000 xp
Rings that create special abilities = 5,000 xp
Here is the original paragraph:
"Thus, in the Greyhawk campaign a magic arrow (+1) is worth a maximum of 100 points experience, a +1 magic sword with no special abilities is valued at a maximum of 1,000 points, a scroll of spells at either 500 or at 100 points per level per spell ( so a 6th level spell is worth a maximum of 600 experience points), a potion is worth between 250 and 500 points, and even a genie ring is worth no more than about 5,000 points maximum."
Making comparisons between the two "categorisations" we might deduce the following magic item categories which could be used as a guide for assigning costs and XP value:
Scrolls
Potions that create the effects of a spell
Potions that create special abilities
Enchanted arrows
Enchanted armour or weapons w/out special abilities
Enchanted armour or weapons with special abilities
Wands
Rings that create the effects of a spell
Rings that create special abilities
Following this through we might end of with costings and XP values like so:
Scrolls:
100 Gold Pieces/Spell/Spell Level/Week (a 5th-level spell would require 500 GP and 5 weeks)
100 xp per Spell/Spell level
Potions that create spell effects:
250 Gold Pieces + 1 week
250 xp
Potions that create special abilities:
1,000 Gold Pieces + 4 weeks
500 xp
Enchanted arrows:
1,000 Gold Pieces + 4 weeks
100 xp per arrow
Enchanted Armor/Weapons w/out special abilities:
+1 = 2,000 Gold Pieces + 2 months (1,000 xp)
+2 = 4,000 Gold Pieces + 4 months (2,000 xp)
+3 = 6,000 Gold Pieces + 6 months (3,500 xp)
Enchanted armour or weapons with special abilities:
+1 = 8,000 Gold Pieces + 8 months (2,000 xp)
+2 = 16,000 Gold Pieces + 16 months (4,000 xp)
+3 = 32,000 Gold Pieces + 2 years (6,000 xp)
Wands:
10,000 Gold Pieces + 6 months
500 xp
Rings that create spell effects:
12,500 Gold Pieces + 3 months
2,500 xp
Rings that create special abilities:
50,000 Gold Pieces + 1 year
5,000 xp
As a potion that creates a special ability costs 4 times more to make than a potion that creates a spell affect I used the same ratio on rings and armour/weapons (4 times the cost, double the XP). Wands are 10 times less valuable than rings with special abilities so I calculated the XP value for wands on that basis.
I'd be interested to hear peoples thoughts on this.
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