Found it? Congrats! xD (And sorry it took so long. I'm feeling almost guilty for telling you about it lol)
If you're already pretty far into the game, it isn't all that great, but it's good considering you can find it as early as chapter 5.
Viewing post in Witch Hat & Ears of Cat comments
Funny enough, I left so many secrets early in the game I kinda ran out of loot for the late game lol. It's basically all mithril and a few rings (the highest tier of accessories) now.
Tho I guess this isn't so bad considering there's no point in finding a powerful item if you don't have any enemies to use it against.