Its not a £1000 mongoose, its a mongoose with a £1000 price tag. Different kettle of fish.
If I put my £225,000 flat up for sale for £1,000,000 it does not become a million pound apartment. Unless it sells for a million, then different story, you could say it was worth a million to the chump that bought it. But until the goose sells it is a £400 bike with a grand tag.
Subtle but important difference.