Does Item Level matter for Crafts?

[Vash]

According to that information, crafting is based on ilvl (the level of the item). Where did you get the ring that you're trying to craft? Remember that if an item is dropped by a monster, its ilvl is equal to the level of the monster that dropped it. If you gambled it, it's level is the level of the gambler, plus a few mods (ehhh..check up Arreat Summit on the random gambling level modifications). Not sure about the ilvl if it's store bought.