That looks just like mine, except mine started life in blue instead of orange. It does the job, but wear is an issue, as is finding parts to seal the cylinder. I had to source them from Italy. Don't remember the supplier though. They are made from lower strength steel, part of the reason they are cheap. I had to completely rebuild the pivot point on the rod end, as the hole egg shaped itself. I also ended up building a whole new snout for it, as the first one wore itself off too short to grab anything with. Though it has had problems, it has made good money for me overall. That said, it has not been bad to use, just needing built up a lot. I usually cut new teeth out of cutting edge material and then cut the worn ones off flush then weld the new on. It seems faster than building them up.
If you buy it, source out parts for it right away, and buy a seal kit to have on hand, so you don't have a long wait when you do need it.
I think I paid about $8K at a RB auction for it. Based on that,$11.5K is not a bad number retail.
Check out the upcoming sales, as they pop up from time to time.