Two of the last auctions I went to: at one of them people bid up boxes of shotgun shells higher than they cost at regular prices in a store. Fine, have at it!
At the other, old car fever hit the boys hard and they bid #5 project cars- or in some cases, piles of parts- up to #3 prices. Needless to say,
1) I left empty handed
2) the value of all my current junk doubled in my mind
3) I don't go to auctions anymore.