I own the DT770s and have heard the M50s on multiple occasions. I hope you are talking about the DT770 pros as that is what I shall use as a reference point (though they are all sonically similar)
A steal would probably be $150, if you know where to look. There's almost no way you can find one at $110, unless its really well used. I did see one on ebay really cheap a while ago though, and buy ordering replacement earpads you could get a acceptable pair of cans for lower than $110.
However, the DT770s have recessed mids, far more recessed than the m50s (i didn't think they were recessed at all)
And I think that from a neutral party's point of view, the M50 can be compared with an amped DT770. They have very different sound signature and neither beats the other in every department.
