Steel Lockbox vs Grimtotem Necklace

Steel Lockbox
Sells for 1 Silver 50 Copper to vendors
Item Level 40

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Grimtotem Necklace
Binds when picked up
Use: Combine the collected reagents into a fragile staff that can end Undying Slumber.
"A necklace collected from a diseased Grimtotem Shaman."
Item Level 40

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Side by side:

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

Stat Steel Lockbox Grimtotem Necklace Δ
Item Level 40 40 0
Sell Price 1s 50c −1s 50c
Binding Binds when picked up

Δ is Grimtotem Necklace minus Steel Lockbox: green where Grimtotem Necklace 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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