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I have an item saved search that would show the related transactions. As such, the number of transactions will also be the number of rows per item. Is there a way to show only the value of the column if it's the first row for the item and then just leave it blank for the 2nd and so rows for the same item?

Actually. If you know of a way to do this in a normal oracle sql statement you might be able to do it with the same trick as the running total in a search

That said, I'd expect to burn an inordinate amount of time on something of no real value add trying to figure it out, so I would make 100 percent sure it was necessary before burning that time