This is a question concerning 2 different rituals and if they work in conjunction with one another, namely, Transfer Magic and Enchant Magic Item.
If I understand the reading of the spells correctly, Transfer Magic lets you transfer the properties, powers and enhancements associated with an item to a magical or mundane item of the same type that is your level or lower.
E.G. --- I transfer my Armor of Dark Majesty +1 (level 4 item) to a piece of level 0 Leather Armor. I now have level 0 Leather Armor with all the properties of my level 4 Dark Majesty. The two items are now identical.
Next, Enchant Magic Item changes a normal item into a magical item of equal or lower level to you.
E.G. --- I am a level 7 warlock, I change my level 0 Leather Armor into Magic armor +2 which is a level 6 item for the difference in cost between Leather Armor (25g) and MA+2 (1800g) or in otherwords, the ritual costs 1775g).
Finally, the question: If I combine those two actions by first transferring the Armor of Dark Majesty +1 to Level 0 Leather Armor, then using Enchant Magic Item to change the Leather Armor into Magic Armor +2, do I now have a level 6 Magic Armor +2 with all of the same stats as a Armor of Dark Majesty +2 (Which is a level 8 item that costs 4200g)?