I agree Mowerfreak, bidders can be as crazy as sellers at times. I know it is easy to get caught up in the excitement of an auction, especially if it is something rare that a lot of people are after. But one time I found myself wondering at the logic (and sanity) of the 10 people who bid up an old rubber snorkel to $100 when there was a better quality one for sale as Buy it Now for $15.
I guess old car owners can be just as insane. I recall seeing an old beat up 1974 VW for sale in a house yard for $50,000. Good luck to him!