Am I Missing Something Here?

[FenrisWolf]

Seller is using a shill bidder; he makes a big deal of using no reserve, that's always a warning sign. And while you can't look up bidder names, but you can look up bid history. The second-to-last bidder on the knife jacked it up from 370.00 to 750.00, and 64% of their 100-499 bid history is with this one seller.

I took a look at some of his other auctions. Seems he has this down to a science; if the bid is less than he wants to milk something for, he jacks it up hugely, and then adds a last minute bid from a supposed second bidder for a bit more so it doesn't look too dodgy. If, however, he thinks he has a fish on the hook, he initiates a bidding war between two new bidders in hopes that the fish will jump on board.