The teacher wand is a wand that can be wielded with 55 Magic. It can be obtained by either exchanging pizazz points at the Mage Training Arena or buying one from another player, either by Trading or via the Grand Exchange. Purchasing the teacher wand from the mage training arena requires 150 Telekinetic, 200 Alchemist, 1500 Enchantment, and 150 Graveyard points, as well as an apprentice wand equipped or in your inventory.
Along with the rest of the wands, the Teacher Wand has experienced a large increase in price since the drop changes made in PvP worlds. This was the same update that stopped the Abyssal Whip, and many other items, being dropped as a regular loot item.