It was JVC’s cheapest direct drive from 1982 according to my Stereo buyer’s Guide price list, but like all of the Technics and JVC turntables from the Matsushita stable, was good quality, and excellent value for money. It should be direct drive, which means it doesn’t have a belt. There was a slightly cheaper belt drive model, the L-A21.
The L-A31 cost $239, while the L-A21 was $199. The Technics SL-1200 MkII was $419, to give you a sense of perspective. Similar cost turntables from then were the Kenwood KD-40R ($255), Dual CS-508 ($249), Luxman PD-264 ($248), Marantz TT-4200 ($249), Micro Seiki MB14ST ($229), Pioneer PL-4 ($219) and PL-6 ($259), Realistic Lab290 ($230), TEAC PX-550 ($229) and Technics SL-D212 ($215) and SL-D303 ($260).