"Owned by" question

So I see a Crystalline Ring going on the market for 1 000 000

weight: 1 stone
magery +20
focus +20
faster cast recovery 3
mana regeneration 3
hit point regeneration 5
spell damage increase 20%
owned by zoyi
faction item


It is already owned by someone, so I will not be able to use it if I buy it right? So it is another scam?

yes if its owned you cant use it.

This is a faction item. When firstly equipped, it bounds to the character. These bound items have an inscription "owned by %username%" and "faction item" and cant be equipped by someone but this %username%. I dont recommend you to buy these items from vendors.
P.S. Glad you asked us first