Bear in mind the stubborn nature of some auction bidders. Even if another item, exactly the same, is in a different auction, they might not like getting outbid and are willing to pay extra just to ‘get revenge’ on another Bidder.

In poker, it’s like a loose rabbit going after the money they’ve already put in the pot, out of pride. And they end up getting in over their head.

Here, though, there’s no risk, because if they get outbid, they get their money back, and are ready to rebid again.

I’m not surprised to see some people throwing away their money in what is essentially a ****ing contest, and ending up overpaying for a file they could have gotten elsewhere for a tenth of the price.