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More details on the Instrument of the Bards - Fochlucan Bandore can be found at www.dndbeyond.com
When you view a magic item while the Detect Magic spell is active, you'll see certain auras based on the schools of magic at work in the item. For a Instrument of the Bards - Fochlucan Bandore, auras include:
Transmutation
a lustrous golden sheen