I buy everything on Amazon and searched all over for the right 'padfolio' (as I came to call these) and this is the only one that seems to be made of real leather for less than $50 (at least I think it's real leather, if it isn't, it has fooled me).

Great quality padfolio

This Royce Padfolio is a pleasure to write on and is very comfortable.

I have to say that this is one of the nicest padfolio's I've ever owned.

Other than being a little thicker than my Bosca, it's a really nice padfolio