I really don't know why this is described as a quest. More of a utility to sell bags in teh bazaar.
Anyway, it's not ALL classes:
MAGIC ITEM
WT: 0.1 Size: SMALL
Class: ALL
Race: ALL except VAH
Item Information:
BAG STATS:
SLOTS: 10
SIZE LIMIT: Large
WEIGHT: 3.5
WEIGHT RDX: 30