See Magic (Su)
Source: Advanced Class Guide, p. 12
The arcanist can see magical auras. If she expends 1 point from her arcane reservoir, for 1 minute she instantly recognizes magic item auras and spell effects (as per detect magic).
During this time, she is treated as if she had studied each aura for 3 rounds, and she treats her Knowledge (arcana) check as if she had rolled a 15 on the d20. In addition, if she touches a magic item during this time, she can immediately identify its properties using Spellcraft without needing to spend 3 rounds examining the object. If an enemy possesses the object, the arcanist must first succeed at a melee touch attack in order to touch the item.