That was a really nice pouch. The type you don't have to upgrade.
I know guys who easily dump $350 in gas to drive around in a boat all weekend, spend a ton of money on booze, food, cigarettes and come Monday have nothing to show for it but a hangover. I would rather have that bag hanging on my bike than a hangover any day.
Yes the price was high. Not all pouches are worth that much. If it doesn't have the straps or its ripped or dirty it shouldn't be worth anywhere near this amount. This was a quality piece.
I wish I would have bid more, but I know my day will come when I find one for $38. It probably wont be as nice and I will remember this one.