I'm having the same issue, but with.... um, all items. Seems like it might be a conflict with Compare Item Stats for me, though? (I'll try turning off CIS and see if that resolves it.)

[18:12:09.921] [Main Thread/WARN] [tML]: Silently Caught Exception:
System.NullReferenceException: Object reference not set to an instance of an object.
at Polarities.Items.PolaritiesItem.ModifyTooltips(Item item, List`1 tooltips) in PolaritiesItem.cs:line 170
at Terraria.ModLoader.ItemLoader.ModifyTooltips(Item item, Int32& numTooltips, String[] names, String[]& text, Boolean[]& modifier, Boolean[]& badModifier, Int32& oneDropLogo, Nullable`1[]& overrideColor) in tModLoader\Terraria\ModLoader\ItemLoader.cs:line 2008
at CompareItemStats.CISGlobalItem.GetTooltipLines(Item item) in CompareItemStats\CISGlobalItem.cs:line 397
at CompareItemStats.CISGlobalItem.ModifyTooltips(Item item, List`1 tooltips) in CompareItemStats\CISGlobalItem.cs:line 98
at Terraria.ModLoader.ItemLoader.ModifyTooltips(Item item, Int32& numTooltips, String[] names, String[]& text, Boolean[]& modifier, Boolean[]& badModifier, Int32& oneDropLogo, Nullable`1[]& overrideColor) in tModLoader\Terraria\ModLoader\ItemLoader.cs:line 2008
at Terraria.Main.MouseText_DrawItemTooltip(MouseTextCache info, Int32 rare, Byte diff, Int32 X, Int32 Y) in tModLoader\Terraria\Main.cs:line 15469
at Terraria.Main.MouseTextInner(MouseTextCache info) in tModLoader\Terraria\Main.cs:line 15264
at DMD<Terraria.Main::DrawPendingMouseText>()
at Terraria.Main.DrawInterface_41_InterfaceLogic4() in tModLoader\Terraria\Main.cs:line 34534
at Terraria.Main.<>c.<SetupDrawInterfaceLayers>b__1587_38() in tModLoader\Terraria\Main.cs:line 34456
at DMD<Terraria.UI.GameInterfaceLayer::Draw>(GameInterfaceLayer this)
at Terraria.Main.DrawInterface(GameTime gameTime) in tModLoader\Terraria\Main.cs:line 34464
at DMD<Terraria.Main::DoDraw>(Main this, GameTime gameTime)
at GravityDontFlipScreen.GravityFlipSystem.Main_DoDraw(orig_DoDraw orig, Main self, GameTime gameTime) in GravityDontFlipScreen\GravityFlipSystem.cs:line 113
at Terraria.Main.Draw(GameTime gameTime) in tModLoader\Terraria\Main.cs:line 48641
at Microsoft.Xna.Framework.Game.Tick() in D:\a\tModLoader\tModLoader\FNA\src\Game.cs:line 562
at Microsoft.Xna.Framework.Game.RunLoop() in D:\a\tModLoader\tModLoader\FNA\src\Game.cs:line 878
at Microsoft.Xna.Framework.Game.Run() in D:\a\tModLoader\tModLoader\FNA\src\Game.cs:line 419
at Terraria.Program.LaunchGame_(Boolean isServer) in tModLoader\Terraria\Program.cs:line 231
at Terraria.Program.LaunchGame(String[] args, Boolean monoArgs) in tModLoader\Terraria\Program.cs:line 192
at MonoLaunch.<>c__DisplayClass1_0.<Main>b__0() in tModLoader\Terraria\MonoLaunch.cs:line 56
at System.Threading.Thread.StartCallback()