So you found a ring of invisibility and 111 years later your still alive and healthy?

So you found a ring of invisibility and 111 years later your still alive and healthy? …maybe your wizard friend should take another look at it.  

Something interesting:  This ring was stolen from Gollum and he will hunt for it for the rest of his life.

Something useful:  You vanish from sight when you put on the ring.

…

Something interesting: elven letters appear along the inside of the band when the ring is heated in fire.

something useful: the ring preserves and extends your life

…

something interesting: This is the one ring and the key to Sauron’s plot to take over middle earth

something useful: the ring can only be destroyed in the fires of mount doom

…

It’s kind of funny to realize that most magic items get one spout lore roll and the players (including me) assume they know everything important.  If it is a weapon or potion a desperate player might use it without knowing its effects.  If he/she is lucky they find that they have a flaming sword and will probably never bother to show it to the wizard or investigate its past/purpose/importance.

This thing was probably made by an ancient elven wizards thousands of years ago.  why was it made? What was it called? How was it used? how did it get here? What is it meant to do? what could it be made to do?  what does using it cost you? Is it in any way dangerous? Is the creator still alive?  who owns it? who would want it? Who would recognize it?

As a DM you don’t have to have all of these answers written down before you drop the item into the world.  But these are all valid questions and they should be asked.  The players can also generate their own answers.  Maybe they recognize the inscription or have heard legends about this item.  Maybe they just rationalize a connection you had not planned on.  “I found this sword in the tomb of the vampire king.  is there any chance that those ghouls recognize it or that it exerts some influence over them?” 

The +1 sword came out of a vending machine and sparkles.  The Bone Glave is fashioned from the spines and bones of ancient kings and learning about it might generate its own adventure.