• Starwatcher's Binding
• Item Level 239Disenchants into:
  [Abyss Crystal]: 1-2
• Binds when picked up
  
• Cloth
• Waist
• 182 Armor
• +82 Stamina
  +69 Intellect
  +64 Spirit
• Yellow Socket
  Yellow Socket
• Socket Bonus: +7 Spell Power
• Durability 35 / 35
• Requires Level 80
• Equip: Improves critical strike rating by 47.
  Equip: Increases spell power by 92.
• 
• Sell Price: 4 63 12

Source

This item can be found inside Gift of the Observer after defeating Algalon the Observer in the 25-man version of Ulduar.

Patch changes

• Patch 3.1.0 (14-Apr-2009): Added. 
  

External links

• Battle.net (EU)
• Wowhead
• Thottbot
• WoWDB