Yes, your BIN is too high. A little more information would also help you.
1. What bundle was this from? As far as I know all non-black psp came in some sort of bundle.
2. Your description of the system is too vague. Use words like mint. Describe if it has a screen protector, and how long you've owned it. Are you the only owner?
3. Offering to ship in a flat rate 'envelope' show carelessness on your part. Who in their right mind would ship an item like this in a flat rate envelope? Describe how you will carefully box it up for shipping.
Hope that helps...