yes, I understood that they overpaid the buy it now price, and could have gotten a better deal. But once you enter it as a bid...it's too late.
that's the thing with e-Bay.
The way I work it is that I determine what the item is worth (research), then determine my top dollar that I'm willing to pay for it. If the buy-it-now is lower, I'll get it. If the buy-it-now is higher, no sale.
If there is no buy-it-now option, I set my high point as my bid price. If it goes to someone else for more, good for them. The trick in this method is WHEN to set that point...