I like it but have to agree with IWANB - looks like Mulberry price inflation at work. I'm not surprised really - their bags are selling well and like all companies they will price according to what the market will bear.
It's difficult to judge the size though - is it the size of a Bays clutch I wonder or is it larger? Larger would maybe account for the price, unless those studs are real gold?
Gosh, that rose gold coloured hardware must be pretty expensive to produce - surely that's the best explanation for such a price hike! That or the leather they have chosen is rare. It looks lovely but not at that price!