2. Sell - Player will receive gill in exchange for the item. Always a good option if they already have the item, it is a unique, or it's just not needed. Gil would be determined by i-level. The gil reward can be low-to-moderate to avoid exploiting and make extremely rich players (but it sure helps with repair bill, teleport and other suggestions I have below ).

3. Trade - Trade the item for seals/crafting materials. This one will tie in to my end-game crafting suggestions. In the early level dungeons, give the ability to trade drops for seals (or gray out the option if they don't belong to a grand company, they still have sell option). We kinda already have this but you have to go all they way to the Grand Company to do it, in the meantime it is taking up space in your inventory/armory.