SRD:Rod of Nightmares

Nightmares
Anyone who comes within 20 feet of the wielder of this rod feels a grave sense of unease. Each person so affected must make a Will save (DC 17) or suffer the effects of a nightmare spell the next time he or she falls asleep. The wielder is immune to this effect. Three times per day, the wielder can utter a command word that causes the rod to emit a horrid, inhuman scream. Up to twenty of the closest creatures within a 30-foot radius who hear this terrible wail believe that their worst nightmares have become reality and suffer the effects of a wail of the banshee spell (DC 23).

Caster Level: 21st; Prerequisites: Craft Rod, Craft Epic Rod, nightmare, permanency, wail of the banshee; Market Price: 284,000 gp.