eBay Buy It Now Issue/Question

[Ray Van]

Hi everyone, just wanted to get some thoughts/feedback on a recent eBay situation. I won an auction that was listed with an opening bid of $100 or a Buy It Now of $750. It was a 3 day auction and I bid with 5 minutes remaining. I was the first bid and there was one other underbidder who bid after me. It ended at a very good price for the item. After the close of the auction, the seller contacted me and indicated he didn't know what happened, that he didn't set it up as an auction (only as a BIN), and it only ran for 6 minutes. I call BS on that, I believe it sold for way less than he expected and he has seller's remorse. I can appreciate that, however he is a seasoned seller for 7 years and has >700 feedback so it wasn't his first listing. Karma might come back to bite me, and I know I could offer to cancel the transaction ... but I feel that I would be taken advantage of in that situation.

FWIW, I estimate the value of the item at $250 based on other eBay sales, so I paid about half, which also makes the $750 BIN pretty high and understandable no one took that in the 3 days the auction was open.
Ray