This is a BlancCouture B5 26-hole genuine leather loose-leaf binder. The leather is vegetable-tanned leather, and the color is cognac. I purchased it at the end of July this year. I haven't used it much due to size issues, and it has been stored in a bag. Therefore, there are no wrinkles or stains. As it is a natural material, please note that there may be wrinkles and spots unique to leather. The ring diameter is 18.5mm. It has very high-quality leather with firmness and luster. You can expect aging changes. I purchased it for about 21,000 yen. It is in an uncustomized state. It will be shipped with water damage protection. BlancCouture Blanc Couture BlancCouture Loose leaf Loose-leaf binder Binder Vegetable-tanned leather Genuine leather B5