The Warlock Well sits in the town of Goldvale but has existed in one of my past campaigns. The premise is simple: Players toss in magical items of whatever sort and an entity grants them perks or powers based on how potent what they toss in is or what its agenda is. This a role playing goldmine because it allows non warlock characters to create a semi-warlock like link to the well, which could turn into more. Sadly this hasn't seen much use in my games yet, but if a PC ever throws in a powerful magical item they'll likely find themself gaining some power related to it, or some perk from an entity in another dimension which may come back to bite them in the butt later. There are very few safe deals for power in a fantasy setting. But that keeps it interesting.
A little fine print for the Warlock Well as it gets used or sucked into plot lines…