PC Gold BattlePick 3/1 Vamp,15%while ench, +5armor

Gold Battlepick: Req 8 Axe, 6-28 dmg, 15%+ while ench, 3/1 Vamp, Armor +5

Being a Battle Pick cripples the value. You can already craft the +15% Enchanted Great Axe at Droknar's, I'm not sure a Battle Pick is more desirable than that. Being Gold and 1req lower, here's what I'm estimating.

Mod Value: 10k + 4k = 14k
Mod Depreciation Value: 14 * 0.85 = 11.9k

Weapon Value: 25k At best

Total Value: 36.9k

I'd shoot for 30-35k tops.

If you're using a formula don't forget to factor in requirement.
this obviously depends on the weapon, but for most common ones
req 13 -15K
req 12 -10K
req 11 - 5-8K
...
req 8 + 10K