Never mind the special edition. If you look at the specs it's an automatic watch. Automatic watches tend to be a bit more than your average quartz watch. In this case, I think this watch is priced well. It has a made in Japan Miyota movement which is very accurate. I actually like it over the workhorse Swiss ETA movements that are in many automatic watches. The made in china autos are decent as well but quality varies quite a bit. Even if Timex stripped away the Snoopy logo, I'd still pay the $300 they are asking for. Fossil watches uses the Miyota movement as well. I have a Fossil auto and it's great. Has not needed a service yet and keeps great time. Even better than my Hamilton Viewmatic automatic.
Nice find OP. Tempted to grab one but...too many watches.