They are used for the chest caught by bait of fire quest. Someone submitted that recently, I just haven't put it up yet. The rewards are listed as a necklace of protection.
OK, I looked up what a Necklace Of Protection is. Let me summarize the situation. To do this quest I have to go get 100 quest item drops from one of the crappiest places to grind in the game (crappy XP, no herbs, yet all mobs are aggro). Than I have to do another quest to get the final reward. After all this, at level 60, I can get a single C grade piece of jewelry as the ultimate reward. No thanks, what a crappy idea. I'm glad I researched this quest before I wasted any time on it.
Most of L2 quests are not so bad (time+effort+expenses)/rewards that really make me angry. Also, the drop rate rate on some of them are completly outrageous. NC should take a careful look at it.