Differnt Item qualitys?

Beermeister

I just started playing gw a couple days ago and found a purple axe today and was wondering, are there differnt quality items in the game, like WoW has epics, rares etc. diablo2 has uniques rares magic items stuff like that. If so what are the names / colors of them?

emdt

yea, different represent different vaules of rares.

 

iall rares needs to be identified to show its true reariness.

purple is quite reare though

Xzaro

white < blue <purple < gold