If I sell an unidentified item to a shop, it will stay unidentified. However, when highlighted it will still provide the item's description. So, it's actually identified, it just doesn't show it....
edit: actually, it's only unidentified the moment I sell it to the shop. If I leave and come back, or sell something else the item shows up as identified.
[tome] joylove: You can't just release an expansion like one would release a Kraken XD
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[tome] phantomfrettchen: your ability not to tease anyone is simply stunning