Would it be possible to create an addon that would allow the creation of an item Database, similar to how it worked in Everquest 2, where you could take the link from the database and link it into the game. It's possible to get the links outside the game, I'm just not at all familar with the whole add-on bit.

Other Info:

Example of item linking outside the game:

<LINKdata="ITEM: 86212" text="[Golden Scarab]" color="240,190,40" >

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1. This is the items code, depicts which actual item is being linked into the game.

This is probably common knowledge, but just a thought.

Any answer would be great!

Try nLootLink.  Currently not very robust, but gets the job done.  I've not personally used it, but appears to be able to do what you desire.  Grab a link from a web database, insert it into game, save it in a searchable in-game database, link it to others.