@Pronell
I don't know. Giving them a long term quest might work, but giving them a long-term quest to pretty much fix what you just took away from them feels cheap and obnoxious. (Please don't take this as an insult.)
I'd discuss it with the player, putting your foot down if absolutely necessary, and I might look for an opportunity to make their character especially integral to a quest as a reward/compensation, but not a quest to fix the item, and only if the other players won't mind.

@absGeekNZ @Goofy Not bad, but feel that the time would come back to bite you. Also, most players I know hate keeping track. Think you could just double to cost, and make it infinite time?