It's the lady braid satchel in black from F/W 2006, i believe they are re-releasing it for F/W 2007?
It was $2,495 retail
I think it will be $2795 when re-released for F/W '07, and available in a brighter cobalt blue (I remember seeing a pic in the Shopping subforum if you'd like to search for it), charcoal grey, and black.
Do we need to make a full payment in order to get on the waiting list? or at least a deposit? Thanks for advice.
No. You just ask to be put on the waiting list. However, there are stores that will ask for your credit card number so that they can hold the bag for you if they can't get ahold of you.