I was trying to think of a legitimate reason for selling an activation locked iPhone, but I couldn't think of one because at some point the iPhone must have been stolen.
Ebay is worthless. There isn't an option for reporting an item as stolen. They want you to contact your local police and have the police contact ebay for further information.
About the only thing I could think of is if the power switch, screen, back, etc., is unblemished and needed for parts - but that doesn't justify the cost - since all of those parts are cheaper than what the phone is going for.
And no - the only reason to SELL an activation locked phone is that it isn't yours and it's stolen. This is one of those few things I would have to say I assume them guilty until they prove they're innocent. Too bad I can't e-Bay a visit to the seller with a baseball bat...
I had one stolen over a year ago and then had the idea of making a powered case that protects the power switch. If you press it and haven't disarmed the case it keeps screaming. It would also keep cycling power to the pins on the phone which would cause it to keep turning itself back on.
I hate petty thieves like that. The dude is lucky I didn't catch him. Is it worth someone's life over a phone? Of course not. Over MY phone? Absolutely.