Had this waraxe for about 20 or more years. It looks like is can be ensorcelled, and further enchanted (with the right potion and skills). I tried to extract the most info from it with by toons. Any questions, please ask!!

Will run the auction for 48 or so hours (6pm GMT)...MB 20million, BO 35million, CB 0 :-)

Bard Sing:

You sing:

"Waraxe that I hold
Let your magic now be told"

As you sing, you feel a faint resonating vibration from the rolaren waraxe in your hand...

It has a bonus of +40 from a normal waraxe, and the way it vibrates in tune with your voice tells you that it requires skill in edged weapons to use effectively.
Roundtime: 5 sec.

Sorc ensorcell (level 52):

>pr 735
You begin drawing a faint, twisting symbol while softly intoning the words for Ensorcell...
Your spell is ready.
>channel at wara
You channel at a rolaren waraxe.
You sense that the rolaren waraxe has not yet been permanently ensorcelled and that this ensorcellment will be very difficult.

You do not yet have enough stored necrotic energy to cast a permanent ensorcellment upon it.
Cast Roundtime 3 Seconds.
Roundtime: 3 sec.
(Forcing stance down to guarded)

Wizard (level 100):
>pr 405
You gesture and invoke the powers of the elements for the Elemental Detection spell...
Your spell is ready.
>cast at my wara
You gesture at a rolaren waraxe.
You sense that the rolaren waraxe has a temporary layer of necrotic energy upon it.
The rolaren waraxe seems to have been prepared for enchanting, and may be enchanted up to a bonus of 40.
Cast Roundtime 3 Seconds.
(Forcing stance down to guarded)

>pr 925

You trace a series of glowing runes while chanting the phrase for Enchant...
Your spell is ready.
>cast at wara
You gesture at a rolaren waraxe.
You sense that the rolaren waraxe bears a natural enchantment and that you can only fail to enchant it if you are horribly unlucky.

You will need to prepare the rolaren waraxe with an appropriate potion to enchant it any further.

You do not yet have enough static essence available to strengthen the enchantment.

Cast Roundtime 3 Seconds.