.for a TOY car!
A toy to you, perhaps, or an accurate scale model of historic significance and some rarity in the model collectors' world. Since there were 22 bids this seems to me a fair open valuation, and given what other models go for in the collectors' world this seems not unreasonable to me, given the condition PLUS the original box.
I sold a model once to a collector, and the model was in a box with the type of upright panel on the back to enable the model to be hung on a display/dispenser in the shop. To make shipping and packaging easier, I folded this 'flap' of cardboard down over the top of the main box - boy did I get a rocket from the purchaser for damaging the box !!
As for the economics, I have a unique one-off model of my Scimitar for which I paid £160. Speaking with the maker, I learned that to make the mould for a white metal casting costs around £3,000. Then there is the finishing, painting, adding the interior, wheels, door handles, lights, aerial, etc etc etc.... To make this sort of thing even remotely viable you need a batch of at least 25, and this is achieved through a group buy similar to what you might regard as perfectly normal for an obsolete spare part. Once the main bodies have been cast then each one can be individually finished.
The end result is no more a 'toy' than your custom-made rare spare part is 'old scrap' !