Posted By:
Joe D."I assume most of the people who buy these lots are looking to make money, so why do they go so high?"
Barry -
I can only assume that those who are bidding strong see a portion of the big lot as 'upgrades' or just plain 'hole fills' to the set(s) they already have. And if the cards don't come by very often - the bidder(s) don't mind paying the premium / selling off the cards they don't need and taking their lumps a little.
Depending on the issue - I would go stronger than breakup value if certain key cards were in a lot.