Mantle of Roche: This deep navy, almost black in colored cloak is fashioned from some very smooth cloth, but is also very sturdy. Roche often traveled into places where he needed to conceal his trade goods as it were, and this cloak helped him. When it is wrapped around an item, on command it will cause the item it is wrapped around to disappear. The item can be weigh no more than 50 pounds, and must be no larger than a backpack. While stored in the cloak, the item has no weight. With a command word, the item can reappear. The item is held in stasis. If the wearer begins to fall more than 5 feet, the cloak begins to silently flutter, acting just like a feather fall spell. In addition, this cloak bestows the wearer a +4 competence bonus on Hide checks.
Moderate Transmutation and Faint Illusion;CL 9th; Craft Wonderous Item, shrink item, invisibility, feather fall
I was thinking that if I were a master thief, what would I like. It's probably a custom-created cloak if it has his name. So, if I'm going to be a professional assassin, I want to hide my goods. But a glove of storing is too small. So, why not wrap my backpack or sack in the cloak and poof! Also, I could help evade capture by jumping or diving off of walls. Then there is the almost obligatory bonus to hiding.
If you don't like it, I can come up with something else.