Sellers will do that sometimes with titles that are rare as US releases even though they are selling the JP version. They do it to potentially drive up the bidding. And it works, more often than not. I see it all the time with Dynastic Hero and Super Air Zonk. Just another reason to stay away from eBay.
I got the US version off eBay in pristine condition a few years ago for $100. That wasn't a great deal by any stretch of the word, but it is probably about average. It was one of the initial pressings, too, with the color manual.