The offer is MORE than fair. Next time, before selling something for someone, have an agreement in place. Although I disagree with the above responder, in that, it DOES take a lot of work to list something on eBay--if you re thorough and concise, your friend is STILL being very fair. I would take the money and be SUPER appreciative. If I was selling for a friend, I wouldn t expect more than a 10-20% cut of the PROFIT (not total price), less the fees of course.
As it stands it s his camera and without an agreement in place beforehand he is entitled to all the money. You may have had to do all the work, but listing something on ebay isn t that much work. You are also not considering that he s the one that had $50 at risk if the camera didn t sell. Splitting the profit seems fair to me. He was the one that capitalized the deal and your the one who did the work. I think he s being more than fair.