Wow, thought this was too good not to post. Quality may be questionable but heck it's so basic there isn't much to go wrong anyway. I thought it was a good deal but assumed postage would be heaps (typical for Cell Bikes) however I punched my postcode in (Brisbane) and it displayed 'Free Shipping' so I hope this is the case for all other locations too.
Pricing error? Stock Clearance? Dunno but I consider it a great price for a cheapie run-about or as a cheap way to get into fixies.
Mod: As Jayau pointed out in his comment, it's now available at $188 with coupon code.