Just like my Manfrotto stand, I got this umbrella swivel second-hand. As expected from Manfrotto it’s well made and it’s what I always use for my bigger modifiers. It locks down easily and stays in the position you want it to, I really can’t find any faults with it.
I don’t know what a new one would cost, but if the price isn’t an object, I really can’t find anything to complain about. In a word, solid.