It didn't come in a Shimano box, but I guess someone like Ribble is probably getting them wholesale in different packaging from a consumer. It still had some grease on the axle so I'd guess it was fitted/removed from a stock bike, but can't see any marks/wear.
I bought a saddle at a massive discount, it failed within 6 months and warranty has proven almost impossible as I’m having to deal with Ribble themselves and their warranty department is not well set up.
It didn't come in a Shimano box, but I guess someone like Ribble is probably getting them wholesale in different packaging from a consumer. It still had some grease on the axle so I'd guess it was fitted/removed from a stock bike, but can't see any marks/wear.