Apparently from threads I have read this seller bought this bag and has doubled the price to make buyers think that's what they go for when she really bought it for half that.
Here's a quote from a thread.
"IMHO, here is a prime example of why some people shoudl be banned. Remember a few weeks ago when we had a new member posting threads like "So upset I had to list my POND LEGACY BAG on EBAY" and other thinly veiled advertisements (that got her banned from tPF). Well, she also talked about how excited she was to be able to purchase a geranium pebbled leather legacy satchel from
Coach 800 number since they were selling for so much on eBay. Guess what she did with that bag? Yup...for almost twice the MSRP. Here is the listing:"
I'm thyring to find the thread dedicated to this seller.
But yes it's real. She is just marking up the price because she is taking advantage of the "Limited Edition" term and tricking people.