Small Black Leather Feel Bag, NWOT w Handle

It’s not leather I was surprised to see label inside says made with PVC with polyester lining. 8” wide by 4” tall with rounded end caps. Has never been used. Is very nice! The suggested price is saying $81-174! I don’t know why! Could it be a mistake or is this bag valuable? If anyone might know please let me know!! Please use buy now option or bundle with another item for a discount offer.