It's likely an account used for shill bidding.
The high bid activity is likely used to hide the fact that it's being primarily used to bid one seller's auctions up.
The retractions probably result when the seller accidentally wins his own auctions with this shill account, and cancels the winning bid so he doesn't have to pay the eBay fees.
Due to the fact that eBay hides bidder's identities, I can't think of a way to trace this back to the seller using this shill account.
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