Not even close, and the real value is less than what you paid. I know, I was scammed,

Some auction companies make it a practice to over exaggerate the value of their items being sold. I usually don't pay any attention to that. The best thing to do it shop early on the auction (not last minute) and see if there are others selling the same thing for less, before you bid.

In my opinion, not even close. I recently purchased an item that ultimately seemed too good to be true. THAT should have made me think. Their value was probably 10X's the actual value. After making my purchase I saw the seem item listed at another site with a starting bid of $200. As everyone here seems to state, let the buyer beware.