I would suggest improving the clasp design a bit if you are aiming at a $500 retail range. The parts that fold over and go against your wrist look like something from a very inexpensive watch.
Exactly, that and the inexpensive movement don't justify the price. Of course any seller can price their items as they see fit, I have no problem with that, however I would need more information about the watch itself to equate the asking price.
Now, I may be wrong but it appears the seller needs to meet some financial goal of commitment (funding the project) before he's moving forward with actually building any watches, right??