Yost-style wood frame kayaks a few years ago (to my own specs and off my own plans) and the cost of materials was over $200, probably less than $300 if I recall right. That was with cheap wood and expensive cloth (12oz vs. the lightweight stuff) and goop (2-part urethane vs. some paint).
I did not use any glue on the frame (except on the front and rear plates) - all was just artificial sinew and it turned out very solid.
The price is "right" even at the $255 that "yours" on eBay sold for ;)
Anyway, even building it to my own specs, somehow I could never get comfortable in it, not sure why - mine was built with plenty of room and knee-up paddling position, had a fairly nice and deep foam seat, full foot board, and a relatively large cockpit, but still - I could not paddle it comfortably for too long... I've had several other kayaks without back bands and they were comfy, so not sure what was the deal with this one... I've also been in the "traditional" style SOFs too, where your legs are straight and feet pointed forward, and in these I feel even less comfortable. On the other hand, I tend to fit in snug and contorted positions in some WW kayaks that I'm OK with. So, fit is extremely important and a personal matter...
Touring Kayak Paddles
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