
Tiny Coffee Golem |

I don't believe there's a specific RAW answer, but I have a question.
How do you price a magic item with limitations?
For sake of argument you create a flute that can summon monster 1 at will. However, this flute can only summon Fiendish dire rats. (lets not debate the merits or balance of this item as that's not the point. I'm only referring to theoretical pricing.)
Hypothetically the price for this item would be Caster level 1 X Spell level 1 X 2000 GP = 2000 GP Market value. (Yes, I know magic item pricing isn't a science and this thing would probably have to be more costly because of it's utility. For sake of discussion lets just say 2000gp is the correct base price.)
Now if this item were simply SM1 @ will the price would be 2000gp and the user could summon all 16 creatures on the first level list. Since we're limiting it to 1 such creature would you price it lower than 2000GP? If so what rules do you use in your game?
Other examples:
Telekinesis @ Will, but only works on metal.
Refuge but only to a specific pre-determined location

JDLPF |

Other Considerations: Once you have a cost figure, reduce that number if either of the following conditions applies:
Item Requires Skill to Use: Some items require a specific skill to get them to function. This factor should reduce the cost about 10%.
Item Requires Specific Class or Alignment to Use: Even more restrictive than requiring a skill, this limitation cuts the price by 30%.
- Core Rulebook, p. 549
So if it's a small restriction on the power of the item vs. the original such as only working for one of the 16 options but otherwise functioning at full effect, I'd give it 10% discount. If it's a strong restriction such as only working at a certain location, then 30%. Both should be reasonable limitations that have real mechanical impact on the utility of the item.

Tiny Coffee Golem |

Other Considerations: Once you have a cost figure, reduce that number if either of the following conditions applies:
Item Requires Skill to Use: Some items require a specific skill to get them to function. This factor should reduce the cost about 10%.
Item Requires Specific Class or Alignment to Use: Even more restrictive than requiring a skill, this limitation cuts the price by 30%.
- Core Rulebook, p. 549
So if it's a small restriction on the power of the item vs. the original such as only working for one of the 16 options but otherwise functioning at full effect, I'd give it 10% discount. If it's a strong restriction such as only working at a certain location, then 30%. Both should be reasonable limitations that have real mechanical impact on the utility of the item.
Thank you