Yes, you can upgrade items. Calculate the difference in price between the current item and the upgraded item.
+1 MWK Starknife (2,324gp) to Hunter's Starknife (18,324gp) is 16,000gp.
If your question refers to PFS, it would be a good idea to say that or to post in the appropriate forum. In a home game, Gauss is correct with the proviso that your GM approves.
Adding New Abilities
Sometimes, lack of funds or time make it impossible for a magic item crafter to create the desired item from scratch. Fortunately, it is possible to enhance or build upon an existing magic item. Only time, gold, and the various prerequisites required of the new ability to be added to the magic item restrict the type of additional powers one can place.The cost to add additional abilities to an item is the same as if the item was not magical, less the value of the original item. Thus, a +1 longsword can be made into a +2 vorpal longsword, with the cost to create it being equal to that of a +2 vorpal sword minus the cost of a +1 longsword.
If the item is one that occupies a specific place on a character’s body, the cost of adding any additional ability to that item increases by 50%. For example, if a character adds the power to confer invisibility to her ring of protection +2, the cost of adding this ability is the same as for creating a ring of invisibility multiplied by 1.5.
Not out of distrust or anything, but could you point me to the source? That way I have something official to back myself up with in case GMs are skeptical or unsure of the ruling.
Adding New Abilities
Sometimes, lack of funds or time make it impossible for a magic item crafter to create the desired item from scratch. Fortunately, it is possible to enhance or build upon an existing magic item. Only time, gold, and the various prerequisites required of the new ability to be added to the magic item restrict the type of additional powers one can place.
The cost to add additional abilities to an item is the same as if the item was not magical, less the value of the original item. Thus, a +1 longsword can be made into a +2 vorpal longsword, with the cost to create it being equal to that of a +2 vorpal sword minus the cost of a +1 longsword.
If the item is one that occupies a specific place on a character's body, the cost of adding any additional ability to that item increases by 50%. For example, if a character adds the power to confer invisibility to her ring of protection +2, the cost of adding this ability is the same as for creating a ring of invisibility multiplied by 1.5.
-Nearyn
EDIT: soooooo Gauss, what possessed you to take levels in Ninja all of a sudden?
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Ninja levels are acquired over time, once specific points in one's career posting on the boards are attained. Gestalt rules apply :)
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I believe the price increase is already calculated in the named item's cost, so you don't actually have to calculate anything. You just have to pay the difference.
Edit: Consider this FAQ for PFS.
I was readibg further into it. The default pricing doesnt work for this since the hunter's starknife has a special ability. So would u use the 50% increase or the "multiple different abilities" rule?
That rule only applies to Wondrous Items, or more accurately, items that take up a slot on the character's body (and it gives Rings as an example of that). Weapons do not take up a slot, and Armor/Shields, while they technically do, have their own specific rules that are more similar to that of Weapons than Wondrous Items, so these subjects follow their own specific cost chain, which is the total enhancement bonus^2 X 1,000 gold. (2,000 gold for weapons.)
Additionally, Gauss' claim is correct for trying to calculate the total value of a specific weapon's extra abilities. For example, the Frost Brand is an effective +4 Greatsword with the special abilities. The price of a random +4 Greatsword is a total of 32,350 gold. The total price of the Frost Brand is 54,475 gold. Subtraction would leave you with those extra abilities priced at 24,125 gold, and you would halve all of those numbers to determine how much it would cost if it were to be crafted for yourself. As for how much each ability costs or prices separately, it is difficult to estimate, but that is something you would need to corrugate with the GM about.
BigP4nda, when a magic item has equal to or less than the abilities of the named item then you just upgrade it and calculate the difference in price.
A Hunter's Starknife is a +2 Wounding Starknife with some extra powers. So, you can upgrade a +1 Starknife, +1 Wounding Starknife, or a +2 Wounding Starknife into a Hunter's Starknife without any problem.
Of course, this all assumes you have access to a crafter willing to do the work and the time to do it.