What am I missing?!

[six2ten]

This just realised 1200 euros, Maximinus II Antioch 71 b? Or have I missed something?

[Victor]

Common and in mediocre condition.That's insane...it must have been some incredibly uninformed people in a bidding war.

a fool and his money are soon parted

[six2ten]

Thanks for the confirmation! I saw it live and couldn't believe it go to 100 euros let alone 1200. I suspect there was a huge pre-bid as the bids ratcheted up instantly

[Lech Stępniewski]

Probably a mistake in pre-bid. Someone wanted to bid 12,00 = 12 euros (reasonable price for this coin) and system read it as 1,200 = 1200 euros. Just a guess.

[six2ten]

I had the same thought Lech. But that still requires someone else to push the pre-bid to its maximum of course!

[Victor]

Plus there were 62 bids, which in itself is ridiculous for this coin. This was a bidding war.

[Lech Stępniewski]

This was a bidding war.

Maybe it was a war between automatic scripts / snipers? It occurred even on stock market when "AI" went mad.

[Heliodromus]

If you click on the bidding history it shows 4 bidders, one topped out at EUR 5, one at EUR 20, then the remaining two pushing it to final EUR 1200 (took a lot of bid increments to get there).

The winning bidder submitted their bid about an hour before the lot closed, so must have been a pre-bid or proxy bid. The underbidder looks like they started bidding when the lot went live, so probably a live bidder.

So either doofus pre/proxy mid meets doofus live bidder, or doofus pre-bid and shenanigans (it was the pre/proxy bidder that won).