I am searching on the bay and found an item that has caught my eye. The concern I have is that they state that the buyer is responsible for duties, taxes, etc. The item is about $75.00 that I want to purchase is this something I should stay away from. Basically do the duties and taxes make it much more expensive? Appreciate anyone's experience with this.

i bought carbon cages on ebay from a hong kong distributer. the product was excellent and they arrived in only 7 days! cost was only about $7 in shipping
i was so happy i ordered another set for a different bike. this time it took 2 !/2 weeks to arrive. shipping cost was the same. although much slower the 2nd time product was still as advertised and despite slow arrival time i would still do it again.
i would also note the seller i purchased from had something like 5000 positive feedback responses

i have purchased repeatedly from asian based sellers and not had any problems.

No issues here either and i have purchased many items. Delivery time can be inconsistant due to customs in most cases. I've had some things arrive within 7 days and others 6 weeks. On average about 2/3 weeks in most cases so plan accordingly. Tracking #'s are not well updated on USPS tracking and expect to have to sign for the package at delivery due to international shipping. Knock on wood, I've never been burned but I'm careful who I by from. If this is a fleabay purchase, check for decent feedback history with numerous sales and that they do sell bicycle parts.

Sellers will always make disclaimers like that in case their items get caught at the borders for avoiding import fees. 99.9% of the time, they declare the item as a gift or sample with a low value and no import fees are levied. I wouldn't worry about it unless the seller is explicitly telling you that it will be declared through customs and you will be paying the fees.

No problems with bicycle parts and digital recording equipment.