In great condition as I have a few different gilet type jackets. Its a size small and has never been washed but is in excellent condition. It packs down really small as in the photos -

https://flic.kr/p/END9nz

https://flic.kr/p/21GUtpS

£45 posted ?

Is it a small small, or an American small?

I wear between a 36-38 chest so I'd say its made for the average UK person.