Being a high elf mage I get bored with the look of a robe. Yes, my robe has much better stats, but this is fun just for the change of pace. It looks like the black leather ********** top. Combined with the see through effect of high elf caster leggings... well, let's just say it will get you some attention.
By the way, I paid 125pp for this today in the bazaar. If you're patient you can probably pay less.