"John M knows what to do in this situation"

There's a big difference between a store and an auction. In a store, the prices are clearly marked. At an auction, an item usually starts at something below it's suspected value, with the hopes it might go over. That's just what it is. John listed his $5 chip starting at $5. I doubt he'd sell me one at that price outright. If only one person had bid, could John say, "I'm sorry, $5 is not really a fair price. I want more." But now he's supposed to say, "$40 is too much, please pay less." I have to agree with Archie on this one (damn!). John put up an honest auction and is entitled to be paid the high bid. I have on occasion been extra kind to people who have over bid on my auctions, in other dealings, but I have yet to send an invoice for less than the winning bid. Or more.