Not surprising, check out my post under the Most overvalued/undervalued film cameras thread: a similar scam with the Canon 35/1.5 ltm lens.
To be honest, this has been happening on ebay for quite some time. They rely heavily on users to report untoward auction activity. If it doesn't get reported it can go on unchecked for several weeks or more.
I know RFF members are too smart to fall for it, but for everyone else, for goshsakes if something is too cheap to be true, ALWAYS check seller feedback, and check completed auctions for the same item/pictures being used again and again!