Rarity is used to partly to describe how rare an item might be to find, and also how it compares to other items of the same Quality Level. TSW tends to use it more for comparing power levels than for indicating the rarity of item drop since almost all items that players may be trying to get have a fairly common drop rate and there is very little if any need for Farming monsters to get an item that rarely shows up on the loot tables. There are, of course, exceptions - green signets are found more often than blue, which are in turn found more often than purple, etc.
Rarity levels are indicated by the color of the border around the items icon, as well as the color of the text for the name of the item when you read its tooltip.
So far, the following rarities are in the game (In order from most common/least-powerful to the rarity/most-powerful):
- White - Common
- Green - Uncommon
- Blue - Rare
- Purple - Epic
- Orange - Heroic