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@lpg
I think you can improve it. Think about who you're trying to sell it to. You're asking people to spend £160 on a bag - that's fine, things are worth whatever people are willing to pay for it, but the people who'll buy it will undoubatably be quite intelligent people who make a lot of money. You really have to work at persuading people that it's worth spending the extra cash with you..
Look at the alternatives - there are similar sized bags out there for cheaper. You've should think, when somebody is looking to buy a bag, what makes yours a cut above the rest?
What has your bag got that others don't?
A) Very customizable
B) One man company
C) Made in the UK
D) Supporting local business, environmental friendly materials, etc etc...
Use these to your advantage.