In Wrath of the Lich King it is item level 245 and requires level 80. In MoP Classic it is item level 245, requires level 80 and sells to vendors for 1c.
Items Numbered Next to Relentless Gladiator's Bonegrinder
Blizzard numbers items as they are created, so the named items next to ID 42324 (42318 to 42331) were usually added in the same batch as Relentless Gladiator's Bonegrinder: the same quest line, zone, vendor or reward set.