The wallet was $1.99 for 4 days (well, two full days, the Halloween weekend from October 31, evening - November 3, morning), and several revisions were made to the listing over that time, but not to the Buy Now price until the 3rd - I think if it was a mistake, they would have changed it after the first few sales came in. 

Another officially branded shop did something similar back when they first started out and eBay introduced the clothing gallery idea thing. I bought up a ton of this particular loss leader they decided to have, listed them myself, was more expensive than they were when they put their prices back up, but because I actually had details about the item in my listing (they just had a picture) I outsold them at a rate of 2-1 (they had way more stock than me though).