Cloak of Feather Falling

[Viking_Mage]

One of my players wants a mundane cloak that they found in an adventure to be enchanted with feather fall. I don't see a problem with this, but I do have a problem with the pricing. Basically, its a ring of feather fall but it should be cheaper since it takes up a cloak spot rather than a ring. I think it should be 1,100 gold market value. Is there a more appropriate price?

[AugustNights]

Standard equation for constant effect items is Spell level× caster level × 2,000 gp.

Even at caster level and spell level 1, 2,000 gold is the minimal recommended price.

So, making it lower than 2,000 isn't quite appropriate, but making it cost 2,000 (which is 200 gold less than the ring) would be reasonable. Generally you pay 1.5 the price to have the effect in a different location, but I feel the cloak slot has much more powerful potential that a ring slot. (It also meshes well with the cloak/mantel's 'protection and transmutation' Affinity.)

[Viking_Mage]

Thank you.