Check this out!
They are on eBay weekly in better shape for a lot less. At least this guy knows from where it cometh.
"bargain instruments are no bargains if you can't play them"
I had one of these for awhile. Looks better in photos than in real life. At best it was very average in sound quality though I fiddle with different bridges and strings. I have another Regal flatback with a deeper body and no points that sounds much, much better. That two-point appeal remains understandably strong.