Perculia at The Wowhead Blog: While 5.1 has a handful of new gear from reputation rewards, the majority of gear upgrades in 5.1 will come through a new currency-based upgrade system. Players can permanently increase the ilvl of their 458+ gear by visiting a new Ethereal and cashing in spare currency.
| Item Type | Currency | Stat Increase | Upgrades |
| PvE Rares: Justice Point Rewards, Heroic Dungeon Gear | 1500 | +8 ilvls | 1 |
| PvP Rares: Dreadful Gladiator | 1500 | +8 ilvls | 1 |
| PvE Epics: BoEs, LFR, Normal, Heroic Raids, Valor Point Rewards, Crafted Gear | 750 | +4 ilvls | 2 |
| PvP Epics: Malevolent Gladiator | 750 | +4 ilvls | 2 |
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Upgrading your gear is as simple as visiting the new NPC at your faction’s Pandaria capital and clicking the upgrade button. The UI has a handy preview of the stat increases, so you can compare the strength of several items before deciding which upgraded version you like the best. In-game tooltips also display how much an item has been upgraded, for easy reference. . . . Read full article
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For gearing guides and lists of gear available to hunters in MoP see MoP Hunter Gear Guide for PvE and Hunter Season 12 PvP Gear for PvP
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Good heads up. Thanks.