The design is based on Malta's 1908 5/- on 10/- revenue stamp, but it differs in that the original revenue is inscribed "MALTA POSTAGE" at the top, while the fantasy is inscribed just "MALTA" (like the 10/- postage stamps of 1919-22). Below is the actual revenue from my collection:
So the bidders on this item probably realized that it is different from the genuine stamp, and must have thought that it is an unrecorded design (which is extremely unlikely as Malta's revenues until the KEVII era are pretty well-documented).
When I saw that the item got a few bids, I had contacted the seller feikpieter-0 and told him that it is a fake, showing him links to Scott Visnjic's sale and Revenue Reverend's Malta listing (to show him that it is not an issued revenue). He replied, telling me that he bought it for €30 from a stamp collector in Holland, and he stated that he's not buying from that seller again. This was before the listing ended, so he was aware that it was a fantasy issue, and yet did not close or at least edit the listing.
The same seller had another Malta item originating from Scott Visnjic, a forgery of the 1886 postage 5/-, which sold for $10.50.
feikpieter-0 also has another Visnjic fantasy issue which is currently for sale, this time purporting to be from Mauritius. It has two bids and it's currently at $1.25; the lot closes tomorrow:
I also mentioned these last two in my message to him, yet he did not end the listings.