Yeah, I was watching that auction too, it was some big numbers.  Another auction had 100 1070 GPUs, which it claimed were pulled from new computers, for $90,000.  I messaged and berated them several times, as paying 900 for a 2 generation old 1070 is beyond insane.  I wouldn't pay 300.  I offered them a reasonable price for 10 or 20 1070s but they refused.

I think people are buying irrationally, with FOMO on their minds.  They are excited to get into mining or add to their farms, and are like "SHUT UP AND TAKE MY MONEY!!!!!".

I'd like to add a few dozen GPUs to my farm, but it needs to be done at the right price.  I don't want to have to run the GPUs for a full year just to pay themselves off.  And if prices dip, it'll take a lot longer.

I do enjoy lowballing the people asking too much for their GPUs.