People mostly buy it to trade it to the guild for guild points, or I would say, gilsellers or players who cant afford to pay for I.M., which are those that usually rush their leveling with disregard to money making. Thats my two cents.
This recipie require 3 skills. Goldsmithing is required to craft the mythril, Leathercraft is required to craft the leather, and Smithing is required to craft the iron.
Generally, you can tell what skills are required by the materials used and their respective craft. This also loosely applies to the craft levels required. For example, with this item, Smithing needs to be high enough to craft iron ingots without difficulty(~19.)
BTW, the NPC that sells this item.....offered it to me for over 45k.
This is a goldsmithing skill not a smithing skill. I was asked by the guild points awarder to make this today and i've failed twice with my Gold skill at 50. I'm thinking that a smithing sub skill is required because my Leather is 32 and my Smithing is only 8.
I got this as the Goldsmithing Guild item today. payed Deadly Minnow 47k; none on AH in Jeuno although one sold yesterday for 15k :( Got 4275 guild points out of a possible 6640. don't think I'll buy another but I guess I need to level up my smithing and leathercrafting.