I bought the Blood Cape, but I can't figure out how to equip it. It doesn't matter which class my character is--it doesn't appear to equip for the Lich either. When I go to the Blacksmith and click the Equip button for the Blood Cape nothing happens. The letter "E" doesn't show on the icon either. I checked the stats of the character and it still doesn't show the cape. Is there something else I'm supposed to do to equip it?

Update: I figured it out. It looks like it was a weight issue with the character. Once I dropped the heavy armor I was finally allowed to equip the Blood Cape.