I emailed the seller to compliment him on his funny joke listing. He responded, apparently this thing is for real:

WELL I CAN LOWER THE PRICE A LITTLE BIT BECAUSE BETWEEN E-BAY AND PAYPAL, THEY TAKE 6%, SO THAT IS $165.00. THIS IS A NO JOKE FIXED GEAR BIKE. IT'S GOT MAD STYLE IT'S SUPER LIGHT, STRONG AND FAST, IT'S NOT SOME STORE BOUGHT $200.00 TO $1500.00 FIXY, IT'S A FUNCTIONAL WORK OF ART. IF YOU WANT A DEAL ON A PIECE OF ART E-MAIL ME