Light some incense, preferably myrrh or patchouli and a white candle. You will also need a bowl of water and one of salt. Take the item, cover it with salt, place your right hand over the bowl (unless your left handed, then use your left) and envision a white light leaving your palm and passing through the bowl, washing away all negative energies. Then say:
"Blessed Lord and Lady, with salt and smoke I consecrate this tool in your name. Let it serve me well."
Remove the item from the salt, shaking off the salt as you do so, then pass it through the incense smoke, sprinkle it with water, then pass it through the candle flame. Your item is now consecrated.