The Ice Rapier is one of the most curious and fascinating weapons on Tibia. It certainly can be appointed as an extreme old tibian weapon, and as the Tibia Wiki website states, it is part of the "unrestricted set", being an peculiar choice to own at any level!
The current status of this sword are: Atk: 42 + 18 ice, Def: 1... And It breaks on the first hit! (or during the first exori/exori gran). The thing here is that this weapon exists in order to give you a enormous damage on one hit, but you will have the disadvantage to lost the same weapon after landing the hit! Back in the past, it was very significant, because knights didn't have many offensive options, being a vocation that used to be only for defense, without any chance to deal big damages as the other vocations.
Pretty epic to have a sword with 60 atk on total at a level 8, isn't? Keep in mind that it is a weapon with elemental damage. Multipliers against creatures or players can make the sword deal more or less damage.
It used to be the strongest sword existent on Tibia, with the old stats showing 100 on attack (!!!). However, the stats were changed on 2007 (reference: https://www.tibiawiki.com.br/Ice_Rapier ), to the stats that we see today. Nowadays, it is a weapon that is not always mentioned, since many other weapons were added on the game. There is a Free Account Quest where you can get it, but I will not spoil further about that :)
Several monsters on Premium lands may drop this item, including Demons, Ice Golems and Frost Dragons to say the common ones. Vampires also drop it, being the only Free Account monster that drops it.
You still can use it on some situations, although the sword nowadays is not commonly seen as it was in the past, on wars or bosses combats! For example, this recent video shows a player using it on the Annihilator's Quest against Demons (it was used as an emergency measure, spoilers ahead):
You can use it as well while battling against another players, specially when you need to perform a combo on a PvP battle (attacks made simultaneously against opponents, to take them down in a fast way). This short video shows an enormous hit made by an exori with Ice Rapier!