On a side note, though no socket or stat, I value it at 300k being 885 and a Fan. I think that's fair, would like to hear other people take on if you think the value should be higher being a trinket that all dps classes use.
Myself Personally, unless something like the 810 relics appear again AND are obviously a bug, I will not spend more then 100k on any given item. Bar none.
Why? Simply put, the longer this expansion goes, the more BoEs are relegated to alt leveling gear. As it stands right now relinquished gear for a fresh 110 has pretty good odds of being a higher ilvl then most available BoE items people will see. (Obviously some fringe cases, but my 110 got lucky and has 2 ilvl900 relinquished pieces). This means that the market for BoEs is quickly being relegated to two groups of people.
1. People Leveling Alts
2. Twinks.
Group 1 won't be buying BoEs shortly because Blizz is bumping Heirlooms up to 110.
Group 2 has been, and always will be, a fickle lot. Some have more gold then they know what to do with and will pay just about any price. Others refuse to pay anything and will spend way too many hours farming something just to not have to pay for it. But my thought process is thus:
Most upgrades, while being an upgrade, will at this point have diminished returns to my overall ilvl. This makes the bonus in pvp less lucrative.
Most upgrades, while being an upgrade, will only marginally decrease the time I spend doing NL, or other dungeons. (I understand that 5 seconds over a lot of NL runs adds up, but if I'm hitting the lockout timer it doesn't really matter to me after that)
Most upgrades, while being an upgrade, will not bridge the gap to help me faceroll 110s. Between honor talents and the higher base ilvl that is becoming available to 110s you can't just roll people.
So really it's a matter of bragging rights to me at this point from my perspective. Which to some people is a pretty damn good reason to spend gold. To me personally, not so much. Overtime if the items don't sell, prices will drop and I may come home drunk transfer somewhere and buy a 500k ilvl 900 w/leech item. But I can't justify in my head spending a wow-token worth of gold for no noticeable difference on my toon.
Again, if you can sell it for 500k AND someone is happy to buy it for 500k awesome. More power to you. Just know that unless I drink a lot of rum, it won't be me XD