Eye of Dalaran

The Eye of Dalaran is an incredibly powerful device created by the Kirin Tor to help focus their magics. It was created shortly after the Second War.

History
The Eye was constructed after the Violet Citadel had been razed during the Second War. It was designed to focus the power of the Kirin Tor to help reconstruct the citadel and the city of Dalaran. It was stolen by the Death Kinght, Teron Gorefiend and a squad of orcs in order to bring it to Ner'zhul, who would use it to create more portals, similiar to the Dark Portal. Teron brought the eye to Ner'zhul who used it in his dark magics. The eye came into the possession of Khadgar when Ner'zhul was defeated. He sent the Eye back through the portal with a Wildhammer Dwarf. The Dwarf was never heard of again and the Eye was lost for many years.

Current Whereabouts
The Eye was recovered from Karazhan by the Magus Senate of Dalaran and the Violet Eye after a lengthy campaign to find it. The Senate had searched Outlands for clues and they lead to the tower in Deadwind Pass. It was brought safely back to Dalaran and put in the Arcane Vault.

References
Eye of Dalaran article on Wowpedia.