It frustrates me that you win so many school specific items that you can't swap out with wizards on the same account or your other accounts. You can only sell it to the Bazaar or vendors for gold.
As you win these items in combat it isn't doing KI out of any revenue to allow this mechanic and makes it easier for us to have the right gear for our various wizards. If they allowed us to swap with wizards that were on other accounts we owned it might even increase their revenues as people took second accounts to trade between wizards. As they know which wizards are on which logged in account that we own , it shouldn't be too difficult to permit this.
Another major annoyance is when a character, for example Sprockets - a level 6 Storm boss in Counterweight East (Marleybone), drops a named item such as Sprocket's Invigorating Hat and it is a life School only item! Particularly annoying when my wizard was Storm school and could have benefited from a nice Storm gear item.
I've also given up now on purchasing items for crowns from the chests that appear when you defeat bosses. Again, I thought it might be worth throwing crowns into Sprocket's chest but not only did I get another Life school specific item for 100 crowns but when I tried again for 200 crowns it gave me another of the same item!
Seriously, KI need to get a grip on this as it is seriously stupid and an insult to people who give them revenue by purchasing crowns.
I know what you are going through. For the record, you can trade any item that isn't marked with "No Trade" to other characters through the shared bank feature in your bank. Also, at least KI has made only your school gear drop in Waterworks and maybe Tartarus. I can confirm Waterworks, but not Tartarus.