I have refurbished and sold more than a few of the genuine 60's/70's record boxes that this design is based on. Some were wooden and some were simply vinyl covered card. None of them were covered in expensive furniture coverings but all were undamaged after 50+ years of use and the most I sold them for was £25 though I'm aware that they can go for a little more.
Finding a lockable model with a key was always a bonus - not because that is an adequate anti-theft device, but because it negates the likelihood of unwanted browsing and even accidental opening whilst carrying.
The locks on the new boxes appear to be fitted upside down. Every single box (both old and new) that I have seen previously that has this type of catch opens by releasing from below. The jazzman boxes open by releasing from above, or from the top of the catch, which makes accidental opening much more likely - particularly once the catches become well worn as the release tab will fall away from the body of the case. Fitted the other (usual) way up this is much less likely to occur.
It is/was usual for a covering to be applied to the inside of box lids. This would protect the contents from the 4 metal rivets that secure the handle brackets to the lid. Having had some of my paper sleeves damaged by exposed rivets, I used to ensure a covering was re-applied if missing. The rivets are exposed on these jazzman boxes.
Have a look at the photos if you're uncertain what I'm talking about, then decide for yourself if these are 'ultimate' and warrant such a hefty price tag.
btw I no longer refurbish and sell old models obtained from boot fairs and record shops.
- Kev.