PPK Auction: What am I missing, gents?

[Wolfsburg]

I've been halfway keeping an eye out for a decent, reasonably priced PPK and ran across this gem:

https://www.gunbroker.com/item/877427623

So what gives? I know it's a police pistol and comes with a holster but isn't this sky-high for what it is? I'm assuming it's a post-war goldplating job and thus a $300-400 shooter at best?

 

[phillynick]

Someone believes it to be factory plated, which it wasn't...

 

[bigwagon]

The grips and magazine are worth more than $400, but I can't explain the selling price.

 

[Wolfsburg]

Thanks guys! Glad I'm not that out of touch lol!