What do the item colors in Torchlight II mean?

While item colors in such games usually follow a similar pattern they can be quite different from game to game.

Torchlight 2 uses the following pattern:

• White (Common): This are standard item, usually without any special properties or bonuses.
• Green (Enchanted): These items have at least one magical property/bonus.
• Blue (Rare): These items usually offer more different bonuses compared to enchanted items.
• Gold (Unique): Unique items are fixed, premade items you can find. These will always feature the same bonuses as well as a special name.
• Orange (Legendary): These items are limited to weapons/shields only and are otherwise similar to unique items; just even more rare and powerful.