After curing bing of his feeblemindedness and asking him about masterwork items he says to wait a day... a day later (and any amount of time afterwards) when you see him you have the options as following: 1. How are you doing? > 1.1. blah blah 1.2. Are you making master work items yet? 2. trade (masterwork items) If you select option 2 you get the masterwork item shop. if you selection 1 and then 1.2 you are told to come back another day (you don't need to, just ask him to trade)... also, I think his shop does NOT refresh like the other new masterwork shops.