It is merely a collectors item that can't be worn in-game. Currently SlipAnc, Kyou and Ash have them and as far as I know they are not selling them. If you can convince someone to sell it, expect it to be in the 7 to 9 million tc range.
Waaaaay back when, veb gave me his. I was the only person to have the Hector Relax which I kept for nearly two years. In that time I've had people pm me constantly about buying it as well as someone hack my inactive and steal it. Eventually I got tired and needed money so I sold it to Lucent for 370 USD.
What it does when activated?; Regardless of what you hear or see it doesn't do anything when activated ingame. It's merely a collectors item that is extremely overpriced.