It’s possible the seller has started the sale at 99p, but got friends (or another account themselves) to bid and try to push the price up by deceit (there’s a name for this but can’t recall it). I believe it saves the seller a bit in ebay fees to start at 99p and gets the price pushed up to what the seller really wants/expects. It can go beyond that, where the seller (or a friend) is bidding against a genuine buyer to try push the price up, in a double or bluff scenario. I’m always double sceptical of items sold and then relisted a week or so later.
However, it’s also true that some people seem prepared to go over the odds, presumably caught up in the moment or something. If you’ve been following for 7 days an item you really want, for some people it must be really difficult to just walk away when it crosses a sensible point, let it go, think sensibly about it’s true worth ie second hand, without a guarantee or warranty etc.
I’ve had some absolute bargains tho. One example, £5.55 collected for 2 Mont Blanc cycle racks which at the time where £99 each from Halfords.
