I ran this light over my tank for a short time. it was actually a really good light. it covered my 40breeder and my sps had good color
Modular Design Full Spectrum Dimmable 120W LED Aquarium Coral Reef Light Lamp | eBay
I only sold it cause i wanted to go back to T5 but then I switched again from T5 to LED.
There is a reason the good LEDs cost more money is that they are designed with much higher standards. As such the build cost is much higher, add in to that the R&D for the complex controllers many have and you can cost justify all but the most expensive mainstream LEDs. If affording mainstream LEDs is a problem you can always look at going the T5 route. It will cost more in the long run but a lot of people really like it and the best looking tanks I have seen that have LEDs also run T5s.
BTW the selection of LEDs in the light on eBay linked is insane.
The only blue LEDs in that fixture are at 460nm, between royal blue and cool blue. You need to cover as much of the 440 - 480 nm range as possible, clearly this fixture only hits one point.
There is a blend of whites including 3500K LEDs, which are way too warm for a reef tank and are likely to turn your reef tank in to planted tank. Anyone looking to archive a full spectrum using natural white LEDS uses 4500K - 5000K LEDs.
The use of UV LEDs (400 - 420nm) is not recommended. UV light damages all life and for that reason some people have UV based filtration, but you do not want it in your display lights. Violet is desirable 417-420 nm, but no UV.
With the warm white LEDs there is no reason to use 520nm, or 660nm, LEDs as the warm white already has plenty of both of these for reef keeping.