I see this happening on my server, and I'm curious...
I would think that this early in MoP, when BoE gear and DMF trinkets are the hot topic in trade chat, people are spending their hard earned gold on that rather than vanity/trivial things like the Royal Satchel.
I cringe when I see people advertising to sell Royal Satchels in trade because I think those 12 DAYS/36 SoHs spent making 12 Imperial Silks could have been spent better, GPH wise, on BoE gear.
Now, there is that slight chance I could be wrong, because I have yet to even get the pattern for it, but my intuition tells me it's a bad bad bad use for imperial silk this early in the game, especially with other items that use the silk being so hot.
So, I want to get other people's input, JUST IN CASE they have been for some reason successful.
But, coming from me, I advise you to think about how you're using your silks, and, oh my, your PRECIOUS SoHs!
I see it like this:
The common player has about, oh, let's say, 40k.
Chances are they want to spend it on gear and supplies- boe gear, DMF trinkets, flasks, enchants, gems, etc.
If you craft a royal satchel, using up 12 silks, and the going price is 20k, it may take you a week or, jeez, maybe even a month, to sell it. Even then, you have to deal with other tailors who have crafted these and are trying to sell them.
Compare the royal satchel to the illusionary bag. I see Illusionary bags going for 1/3 the price of royal satchels on my server. The slot difference is TWO. Just two.
Even with Illusionary bags, most players have more room than they really need.
And typically, the people who need more room are those dealing with gathering or specific mass crafting of a profession- and there are 36 slot solutions for that.
Now, let's consider hot items, even if they are much cheaper than the royal satchel, such as robes or gloves of creation.
Just for example purposes, robes of creation require 6 imperial silks, half that of the royal satchel.
On my server, robes of creation go for about 5k, 1/3 the current listed price of royal satchel.
To the untrained eye, it may seem like a better move to make the satchel, since using 6 more silk yields more than double the price...
But again, you are more likely to sell boe gear than you are a satchel.