Old Leather Belt vs Frayed Belt

Old Leather Belt
Binds when picked up
WaistLeather
19 Armor
Sells for 6 Copper to vendors
Item Level 5
Frayed Belt
WaistCloth
3 Armor
Sells for 1 Copper to vendors
Item Level 3

Side by side:

Set your class weights in Preferences to see which is better for you.

Stat Old Leather Belt Frayed Belt Δ
Item Level 5 3 −2
Armor 19 3 −16
Sell Price 6c 1c −5c
Binding Binds when picked up

Δ is Frayed Belt minus Old Leather Belt: green where Frayed Belt is better, red where it is worse (a lower required level is better; speed and sell price have no better side). Total Stats adds up Str, Agi, Sta, Int and Spi.

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