DISENCHANT

General
DISENCHANT
Syntax: disenchant <item>
        disenchant <item> confirm

Disenchanting breaks an item apart to get the arcane essence out of it.

The item itself is destroyed; the higher the level of the item, and more
affects it has, the more essence you'll be able to harvest. A stronger
item will teach you more, too.

From rank 95, enchanters can disenchant rare or unique items.

See also: INSCRIBE, GLYPH, ENCHANTING