Downgrade: the item is downgraded to the previous tier, restoring maximum durability.
Item quality is mantained, so a masterwork T2 will become a masterwork T1.
This action is useful when the item has been repaired too many time and can be no longer repaired.

Equip: available on a non-equipped item in inventory, it gets equipped in the corresponding slot.
If needed it will automatically unequip the item previously held in that slot.

Repair: when an item is damaged enough it can be repaired.
Repairing costs 20% of the item's original cost so it can be really cost effective.
To repair you must have the needed resources in inventory, which means you can repair while adventuring.
Each repair lowers the item maximum durability, meaning that after each repair the item will break faster.
When the item maximum durability is below 25% the original, the item can no longer be repaired.

Salvage: the item is destroyed and part of its resources cost is refunded.
Salvaged resources are 20% of original cost, the character should have free inventory space to collect them.
A T0 item is salvaged into raw resources instead.

Unequip: available on an already equipped item it simply unequips it and brings it back to inventory.