He stands in IF everyday spamming to open lockboxes.
He keeps good loot from the boxes and tries to give you cheap greens he gets off the AH.
There are sites where you can see what each lockbox can contain
I gave him two ironboxes to open, both times he gave me low level green tailor patterns.
According to the site, neither were possible items.
He won't party, but even if he does if he doesn't actually loot the open box it won't show up in party chat.
Do business with him if you choose, but you've been warned.