I suppose a more serious response is that there are only 3 bidders, two of which have bid high.
In the online auction world, you really only need 2 guys that desperately want something for the price to increase substantially.
Typically the fallout from these events are 3 or 4 copies of the game get posted in the near future, because everyone wants to sell at this high price. Guy who lost on auction #1 ends up saving a lot on copy #2. Then copies 3 and 4 sell for $100 less than even copy #2. Once value goes down again, the hair trigger sellers decide they want to keep their games.
