International purchase - shipping to UK

GadgetGuru

I'm looking to purchase a piece of camera gear - can't find it anywhere in the UK unfortunately. 
The item is £400.
I have found one on eBay - new - for £399. Free shipping from China. Seller has over 1200+ feedback. 
Contacted the sellers to ask about customs and VAT charges etc, and they state they put a value of 110USD on the label. 
How does this therefore work? I pay duties, tax etc on 110USD even though item price is higher??
Doesn't sound legal?

Found the same item from a seller in the US for $300 
This uses the eBay Global Shipping program etc, and comes with a $48 delivery fee.
It does say this on the order processing page:

Postage

Estimated delivery: 10 – 17 MarEst. delivery: 10 – 17 Mar

eBay International Shipping

Postage: US $43.40

Duties and fees: US $0.00

No additional import charges upon delivery


Anyone ordered from international before and can confirm there are definitely no extra charges to pay?

GadgetGuru

Just FYI - spoke to eBay. No additional import charges etc to pay, since the item goes from their US eBay warehouse to the UK eBay warehouse - they sort everything in between. It then switches to a local courier to go from the UK warehouse to me.