The "buyer" might have been a shill. I saw the first bid, and it is a little suspicious because the "buyer" was a new Ebay user.
I have seen auctions is which the seller has a shill participate in the bidding in order to drive up the bid price. Of course, the shill has to make sure not to end up as the highest bidder. If that happens, then one way would be to relist the item.... Hmmm, sound familiar?