Kels
said
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What is their purpose then? I understand it has to do with cosmetics?
The purpose is to be able to wear equipment that you like cosmetically, in places where physical equipment cannot be taken into (e.g. sinkholes/Daemonheim), or in situations where you'd want to use other equipment with better stats (e.g. if you like the look of a low level armor set, you can keepsake it to wear it cosmetically on top of high level armor that has better stats).
"Volat Accipiter libera est; venandi sua natura est."