In Azphel's RageQuit, our guildleader used the idea of gearing out the higher level of the class he thought benefited most from the item, and it was justifiable, but a little nyerked up. a few months in we were camping captain lahbri, saendukal, ladun, and a few other bosses. templars got all the armor, glads got all the greatswords, assasins got swords. in the end it left all the templars in the guild with such crappy weapons that we became useless in all instances when the glads and assasins took aggro with their gold weapons. in a few occasions when there were no gladiators at the event, if a gs dropped he would leader loot it and put it in the guild bank to give to the next glad on the list, rather than give it to a templar that wanted it. and of course by coincedence all the gladiators and assasins bought gold to buy top grade armor that was better than the boss drops we farmed, and more of it. on one ocasion lahbri dropped her gs, there were 3 templars that wanted it, a glad with a lv 35 expert aamantiam polarm, and our guildleader. he took it, and i nyerked for a few hours about how there's no reason we should even show up if we're still 10 back in line for the one thing we want, and finally got him to agree to use a dice roll for it, which i won

(he hadn't bound it because someone was trying to make him an ENOGS that night, they succeeded btw) I'm still using lahbri's greatsword and my captain's breastplate (lv 41 blue) from captain lahbri 8 months later. (5 month break)
long story short, look at everyone's level and gear and as a group decide who would benefit the most from getting the drop, and who deserves it, etc. example: gladiator X has shown up 5 times to a boss fight, tanked it twice, and templar X just joined the guild and showed up this one time and tanks it but is in way worse gear than gladiator X. glad x has put in way more effort and dedication to your group camping this boss, but temp x needs the upgrade more. who gets it? judgment call!!!!!!!