I love those things! 
"Happiness is what you make it be happy you are alive and are in good health. I AM"
Got like 20 perfects though...
3 chipped (any kind) + any magic sword = new random magic sword with 3 sockets
People pay top dollar (thus things like silks for 15) for chipped, since it is possible to get stuff like
Cruel Collosus Blade of Evisceration with 3 sockets
Insane stuff they can make further insane with jewels, making them possibly the most powerful weapons in the game
I've gotten a TON of good stuff with chipped, and after I got the silks I started an assassin, joined an 8 player game, hit level 15, Jail level 1, and had *16* chipped gems... even found 3 gem shrines and purposefully got them for the chipped 
I want to horde them big time, save up for a nice assassin claw
Most people seem to do 1 SoJ = 40 chipped
Even though people trade items worth a SoJ or more for less chipped, heh
You just need to be a little patient and don't be afriad to turn people down, some people like to think they an trade junk for chipped, heh
Does this only work with swords?
Hopefully they will make it work for all weapons
If they do chipped gems will shoot up even more so in value, hugely.
