I think the sale is probably legit, and I think there is probably nothing wrong with the bass. If you are interested in the bass, you could probably email the original seller and get a first hand opinion.
I don't know how much the color affects the value. Otherwise I think it's a nice bass at the buy-it-now price. I can't remember, if I ever knew, whether Elan electronics have one preamp or two; this could be a consideration with the P/J pickups.