I don't think it's worth that, but that's how much ebay usually has them for new in box so that might be the best deal you get. Atleast for a japanese one. The english ones are much more rare and can usually sell for over 100 dollars. I got mine used for about 20 dollars, including shipping, and it's not in too bad of shape at all! I'm very pleased with it.
If I get it I could get the music star with my $60. But then again, I could get Okami for the Wii, a Music Star, Familitchi and the Tamagotchi movie... ---might wait for a Angelgotchi because I've been hanging out for Okami for a year now.