Create a magical item through Wish spell

[Darg]

The 25,000 gp cap is for non-magical items only. This is a huge loophole. You can't wish for a galley, but you can wish for a galley that flies.

For this reason, many DMs apply the 25,000 gp cap to magical items as well. Let's assume such a DM, and then try to answer the question, because that's the only case in which it applies.

Creating a magical item is pretty clearly using the same terminology for creating magic items. As in, the mundane is available and the wish just makes it magical. If you want a flying galley, you need to have a galley to wish upon.

To further elaborate, the text never uses "create" or "creation" in the context of bringing something into existence out of nothing. In all cases it's used to describe the manipulation of something into something different.