Was £399 when I bought it myself 4 weeks ago :(
Pretty simple to put together. The bed itself is solid, the drawers were a bit difficult because the wheels need to screw into MDF which is prone to splitting.
Looks like a good price to me, just gutted it's gone down in price so soon after I ordered...
Text from the website:
The Rayne king bed is a practical, black leather-effect sleigh bed with vertical stitch panels.
This bed comes with 4 under bed storage drawers, two on either side of the bed. You can store clothes, bedding or other useful items.
The Rayne bed has Brentwood sprung slats to give you comfort and support once you have placed a mattress on top. This bed comes with wooden feet and requires self-assembly.