Rare weapons or shields are equipment of higher-then-average potency, and for that reason have lower-then-average drop rates, but unlike rare armor, they do not have a set effect. They do have effects, they just do not require another item equipped for those effects to work. They usually sell for a high price compared to other weapons of their level. Ones that require level 60 or higher to use have green names. Rare weapons that do not need a 60+ level requirement to wield now have blue names, but are still just as rare.