Since no one else is helping you out this week, I'll stick my neck out.
Since this is clearly a pvp weapon, the leeches don't really count since they really just get in the way of the lightning proc. So, the only thing it has over a titan leg bone (minor arti, worth 2k) is the fact that it is one handed.
Similar weapons in various shards for sale right now (with less leeches, bit lower percentages on hit spell too) include a kryss for around a mil, and an assassin spike around 4. Of course, there are a few weapons people are asking 25 or more for, and they just seem to have, say, 50 hit spell, 50 HLD and maybe DI (free property), maybe SSI -- with not much else. Probably crafted with a bronze hammer.
So, I suggest starting it at a happy medium, perhaps 6m.
Weapons are very hard to price right now. Good luck.
