Merciless Gladiator's Crossbow of the Phoenix

Merciless Gladiator's Crossbow of the Phoenix was an arena reward weapon.

Source
This item was purchased for from  in Netherstorm. As of Season 4, it was available for instead.

Trivia

 * The comment - "Finely crafted to Ephoenix's specification" - is a reference to the late Ezra Chatterton (aka the tauren hunter Ephoenix), who received the world first Ashes of Al'ar from Tigole during his Make-a-Wish visit to Blizzard's HQ. During his visit, Ezra instructed Tigole to make a crossbow that shoots flaming arrows.
 * It is interesting to note that the name seems to be a combination of the names of the weapons Ephoenix is holding on his Armory page.