Unfortunately, Ebay is in it to make money. The higher the price, the more money their % gets them! They encourage overbidding. Once you place a bid, you get the dreaded email "You've been outbid." So you go over and up the ante, and so it goes. They try to get you to really bid high with their Maximum bid, so some people put in outrageous maximum bids, thinking that it will discourage the bidding competition, but often it does not, and they could end up paying waay more than they are seriously willing to pay.
Ebay is very happy though. So is their partner in crime, PayPal. They both make money off the bidding/selling system.
I have been guilty of overbidding, but never got stuck, but my favorite way to buy is to skip the bids and just buy it now. The price is what it is! I get what I want with no surprises.
I certainly hope Herman gets a decent price for his Ronde De Bordeaux next time around.
Suzi