Just a guess that the bid levels are the result of many decades of experience across many auctions and are not nuts or crazy at all. And it works in your favor too -- if in your example you were the high bidder at 9k and that had been high market, it makes it less likely you will get outbid.
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Four phrases I nave coined that sum up today's hobby:
No consequences.
Stuff trumps all.
The flip is the commoodity.
Animal Farm grading.
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