It's hand made in the US so 55$ is ok. Think you need min. one hour for all the work included: idea to product, producing, photographing, putting on the web, paper work. And some expenses for material and tools. And yeah f... taxes.

here is one using car cassis manufacturing technics looking more stable: http://www.wilkhahn.com/documents/Booklet_Chassis_EN_20100622_WiD.pdf.pdf