Fiery Flame Spitter

I was just wondering 3 things about this item that a guildie gave me:
1) How much its worth (duh)
2)What exactly is it used for
3) where are they found

Ty for the input

its worth 3 sorched lodestones....some people try to sell it for a few plat...(pity the poor ), its located NW of serenity temple in ascalon city and it is mainly used in a 55 monk build with some enchantment mod on it since it has the 10% recharge

Firstly, does it have 15% or 10% casting time?

1) 15% is ~4 mill, 10% is under 2k
2) Used for iMonks, and such
3) 15% is removed, 10% is a collector item outside Serenity Temple, I think

well solo peeps use it, and yeah you can find the collector south of serenity temple and tho i onced sold 1 for 10k ;o

nice, and thank you for the input