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Life-drinker

(Dungeon Master's Guide v.3.5, page 227)

Price (Item Level): 40,320 gp (17th)
Body Slot: — (held)
Caster Level: 13th
Aura: Strong; (DC 21) necromancy
Activation:
Weight: 8 lb.

This +1 greataxe is favored by undead and constructs, who do not suffer its drawback. A life-drinker bestows two negative levels on its target whenever it deals damage, just as if its target had been struck by an undead creature. One day after being struck, subjects must make a DC 16 Fortitude save for each negative level or lose a character level.
Each time a life-drinker deals damage to a foe, it also bestows one negative level on the wielder. Any negative level gained by the wielder in this fashion lasts for 1 hour.

Prerequisites: Craft Magic Arms and Armor, enervation.
Cost to Create: 20,000 gp (plus 320 gp for base item), 1600 XP, 40 days.