Ok, so I have 3 UK 1st edition sets of LOTR (not 1st impressions) and 7 UK 2nd revised edition sets so I know about UK editions but I'm not clued up about US editions. I saw this and wanted to check with someone about price, year etc, is it a good price, what year is it printed.
Sorry I didn't mean to leave this unanswered, I got distracted by other things.
I agree with Jlong - way too much for second edition later printings. If you look back a day or two here, you will see a second edition set in perfect condition that I spotted on eBay and shared here - for $50. That seems reasonable for excellent condition books and the slipcase. It will be more for a first impression set of the second edition. Later impressions show up all the time, you just have to be patient.