If this is an item someone is supposed to use / wear. It has no class / race / icon / idfile (not proper).
Idfile should be at least IT63 / IT64 for the bag look / generic item.
It looks like they wanted to make it an aug (augtype 7 and
? But the itemtype is 29 (jewelry) and not 54 (augment).
Those are the only things I see wrong with it. (Doesn't crash my server though when adding that item)