Well... maybe not that stupid. The bids are rocketing up - £22,400 at last look (only £14k an hour ago). You can get a c152 on the open market for that - and that's after looking it over good and proper.
The strangest things happen on ebay, Last year, I went looking for a Garmin Pilot 3 on ebay, and couldn't get a sniff of one for under £250 - that's nearly the new price. I stuck to my guns (top limit of £200), and eventually got there in the end (£200.01
).
I guess some people just get bid fever.
Having just looked at the site closer, I think the seller may have some bad news, the latest bidder ("baddebtor" no less) has got some pretty bad feedback. Curioser and curiouser...