The Eternal Wand of Ray of Frost is marked as Exclusive (you can only have one at a time in your inventory).
If you create 1 and then try to create a 2nd while the 1st is still in your inventory:
1. The crafting will claim to succeed
2. Your Festival Twig, 50 Motes, and Recipe 1/20 will be consumed
3. You will still only have 1 Eternal Wand of Ray of Frost in your inventory.
Preemptive explanation of why you would try this:
The Eternal Wand of Ray of Frost is Bind on Equip, so you can sell/trade/transfer to your alt before equipping it. Just don't try to make more than 1 at a time.