USELESS INFORMATION AHEAD
This dude's name looks like it's an anagram.
There are tons of references and wordplay in EverQuest entity names, like Xegony being an anagram of oxygen, Tunare/nature, Nottap Ekim/Mike Patton, Lord Elgnub/Mr. Bungle, Alliz Tae Ew/we eat zilla, the list goes on. Just looking at this guy's name it feels like an anagram as well, but I can't quite figure out what it is. Anybody got any ideas?
"Ignacia" can be rearranged to "agician," which is extremely close to "magician" - sorta kinda makes sense, as he sells magic spells. Maybe he was named for the generic "magician" before the decision was made to have "Magician" be a class name.
"Rellasp" can be rearranged as "Sellpar", as in "sell by"; or "Spellar", one who spells, itself ironically a misspelling. This would be consistent with other names, as there are a number of other entities whose names are misspelled references: Fennin Ro is an anagram of "infernno" (note the extra n); Rodcet Nife is "Docter Fine" rearranged, a misspelling of a Three Stooges movie title. There is also the matter of SPA standing for "spell affects" in database references and code of the game, when "affect" is the verb form. It should be SPE, as "effect" is the noun.
The point I'm trying to get at here is that spelling and grammar was not the strong suit of the original EQ dev team. It's possible this guy's name is just "Magician Spell-giver" rearranged a bit but I'm open to any ideas if anyone else wastes as much time as me thinking about this stuff. Can we get Michael's Shenanigans to do an episode about this merchant?
Clever GMs of D&D/TTRPGs can tell you that an easy way to come up with a name for a character is to describe what they do, then add some letters (infernno), take some away (agician), and/or rearrange them (Tolapmuj is "jump a lot" backwards) - Bill Trost was clearly no stranger to the technique.