I love knitted bags, although I do worry about snagging... :s
I voted over $150, before I saw that you'd posted the actual price; as it looks pretty good quality, to me.
I think it's a very cute style, too.
My only slight criticism is the metal rings; I would prefer it if the leather strap extended, in an unbroken line, around the bottom of the bag.

I would also, ideally, prefer a longer strap.
But they're just my personal preferences.
