Well since I'm in charge, the solution is degradation.
Every repair makes it a little... Less. Might sound harsh, but purple repairs to blue, etc. Brown repairs to brown. To offset the harshness, reduce the degradation speed.
I think it was like that once, or similar.
That'll allow for the thrill of finding a purple, and the need to keep looking for another one.
...hell if you could make it so that lower level players degrade the items more than experienced players, you'd have a total win.
Hell, a repair skill can offset the penalty.