Blue partyhats are discontinued holiday items that players obtained by opening Christmas crackers that were dropped as part of the 2001 Christmas event.
The blue partyhat plays a small but intriguing part of the Wise Old Man storyline. According to Draynor Bank's surveillance tapes, the Wise Old Man killed Elfinlocks and stole the blue partyhat from her ashes while he was robbing the bank. Before Love Story, he wears the partyhat on his head. After the quest, he lends it to Zenevivia, who now lives in his Draynor house with him. The blue partyhat is often worn by very rich players as a sign of extreme wealth. They crashed considerably in price with the introduction of free trade again in February2011. Blue partyhats are currently the most expensive item on the Grand Exchange, but the second most expensive on the street, being surpassed only by the Christmas Cracker which is never traded on the Grand Exchange due to its value being placed much higher than the Grand Exchange can accept.
The Wise Old Man (and later Zenevivia) and Elfinlocks are the only NPCs that wear this hat.
During the Swan Songquest, the player will ask the Wise Old Man for the Blue partyhat at the end of the quest as a reward; however, he refuses. You can ask him again after the Love Story quest, although he will refuse, as he has already lent it to Zenevivia.File:Phatspike.pngNotice the spike and the date.
Along with the red partyhat, this item was the first item to pass the 1 billion mark on the Grand Exchange on 3 March 2011.
The blue partyhat is the most expensive not because of its rarity, but because of its status. Players will often buy the cheapest partyhat and upgrade until they have the blue partyhat. This puts the lower partyhats back into circulation when they upgrade. However, players often keep their blue for good, taking it out of circulation and hence decreasing the volume traded.
Glitch abusers at one point could actually get themselves into the Draynor surveillance tape cutscene, and take the blue partyhat that was dropped during the cutscene. However, this item appeared to have a different item ID than the real blue partyhat and was untradeable. Also, upon trying to equip the item, it would disappear from the player's inventory. A message would then appear in the chatbox saying, "Please send in a bug report and tell Jagex how you got that hat."
There was formally believed to be a glitch where the blue partyhat did not appear in the "Most Valuable Trades" section of the grand exchange. This was realized to not be a glitch, just that the partyhat had not been traded within the last 7 days on the grand exchange so it was not displayed on the first page.
This Item is currently the single item which reached a Grand Exchange value of 2,147,483,647 (the maximum amount a 32-bit signed integer can hold).
A common misconception is that partyhats increased in price after the free trade update. However, the Grand Exchange price only rose because the price cap was removed, allowing the price to be updated.
Attack bonus
Defence bonus
