I think you'll find that most auction sites are about the same as that.
If you were allowed to list on ebay it would have broken down like so:
If your item starts at £100 or more it’s £2 listing fee
Final Value fee for £120 item is £1.57 plus 3.25% of closing value balance, which is £3.90
Total final value fee = £2.00 £1.57 + £3.90 = £7.47
Which is pretty much the same, if not more.
Then you have the issue of the paypal fees, they offer a completely different service than the auction site. Your paying the auction site to get your item out for the public to see, paypal allows an instanenous payment. If you don't want to pay a fiver for that luxury don't offer it, get a cheque or money order and wait a couple days.
Not having a go dude..just stating the facts. That's the going rate for most auction sites, and most of the info is available before you list.