All Uncommon and above quality equipment has an 'of...' after its name. This defines the items bonuses. For example, 'Willfull Plated Schynbald of The Maiden' will have the 'The Maiden' stat: +x% Total Armour. There are also the same quality colours for the stats, these are seen as coloured circles next to the item's picture. A grey Bashing stat might increase hammer damage by 1% where as a purple one might be +10%. A purple stat does not have to be on a purple item.
Vented Grimhelm. This helm is of blue quality and has 2 stats, one is blue and the other purple. Shown in the 2 circles on the right.
Grey < Green < Blue< Purple < Orange < Red
This table shows the names and their associated stats. All increases/decreases are as a percentage.