I suspect it is the same high people get when gambling, it is a form of it. When I see something on the bay I want the first thing I do is google it and often find I can get it cheaper elsewhere
Some time ago I saw Genuine hard to find rear spring U Bolts on the bay for.....................50pound EACH,I asked the seller the question,,Are they made of gold or titanium because I can buy new ones for about 5pounds each,, He replied yes gold,but didn't include the question on the listing................................Sold to someone in America for the full price Unbelievable. Mind I once listed a windsurfing sail ,which was well used, and two got into a bidding frenzy,it was worth about 50pounds,it got to 90 before one dropped out,when the guy came to collect it,he said he realized it was worth about 50 to 60 tops,but he was determined to stop the other bidder from getting it, I took pity on him and took 55 to cover the charges. Again madness.
I used to list secondhand sealed beam units - the ones with LUCAS written in the middle and it was good fun watching the bidding wars for those. Now I keep 'em as stock for my own cars as they're less common.
From a buying point of view, its good fun too. My last two Land Rovers came from ebay, both very good value but the biggest laugh recently was buying two motorcaravans on the same day. One of them was only £88 though, the other a little more.... I guess it can be a bit of a buzz at times.... Yes I've had some disapointments (expectations aren't too high on an £88 campervan mind!) but the good stuff has more than made up for it
cheers
Iain
Fairmile Restorations.
'49 MM, '53 convertible, '55 van, and a '64 van.
Marina p.u., '56 Morris Isis Traveller, a '59 Morris JB van, a'66 J4 van, a '54 Land Rover, Land Rover 130, Renault 5, '36Railton, '35 Hudson, a Mk1 Transit and a Sherpa Camper...
A car can be restored at any time, but is only original once!
I really couldn't cope without it, so many bargains but you just need to be patient and stick to your bidding limit - there will always be another one come along if you miss an item.