local stores usually beat the ebay price by a good margin.
I'm sure they do, as often the local store is selling the item at a loss, also, they do not have to invest the large amount of labor required to sell an item on ebay. Putting a large inventory on ebay is prohibitive, that's why you don't see more stores doing it. On the other hand, ebay sellers who go through the work involved, move items from a small local market to a global market, for which they deserve to be (but rarely are) compensated.
BTW, I'm not defending this particular auction, I'm just a little tired of hearing this repeated every time the subject of ebay comes up.