The Alchemist wheel is an item that you can collect in the Rocket League game. It is effective for the player to customize their vehicle much more. Aside from that, the wheel also gives you and the others no advantages whilst they are being used. It is simply cosmetic. The Alchemist is sorted as a common one coming up with several painted variants arranged as exotic (uncommon before August 4, 2017). You can acquire it by trade-up.
Currently, it is available from the start of the game for the first time. Besides, you can find others at the beginning comprising Almas, OEM, Stern, and Vortex. You cannot buy and sell it to other people because every account will have one. But, variants can be done.