I have no doubt this has been suggested before but a bounty system could add an element of game play to the game.
One way to approach this is by allowing a player to pay a price they specify on the top of another players head, to be added to a pool if other players have done like wise on the same player.
To avoid a situation where a player could just get their mate to kill them and split the spoils perhaps limit the payout to whatever the global market value in silver worth of the equipment ruined. Perhaps depreciate it by 50% just so people didn't use it as an "instant sell" option.
Just as an example, say they are naked with a T4 pick worth 5,000 silver, it's durability is at 30%, and upon being killed it is reduced to 0 and trashed. The player who killed them would receive ((5000*50%)*30%) 750 silver (or whatever bounty pool is on top of the players head, whichever is less), and that total is subtracted from the bounty pool. If however the pick doesn't get ruined and instead drops, the killing player would not receive any bounty but can instead loot the pick.
Any suggestions to help make this more robust to reduce exploitative behaviour would be most welcome.
I think this could add an extra element to PvP Development and add an extra facet to the sandbox as in becoming a bounty hunter. It also allows solo/new/small guilds an element of pay back where most likely they would otherwise be powerless to extract any sort of revenge.