My opinion is that you're overthinking the situation. The universe of chip collectors is only so large, so a situation where one given collector bids against another given collector is common, even if the two collectors have had other buying/selling/trading relationships with each other already.

Chances are, Jones would have bid on the chip whether or not he had funds from making a previous sale to Smith. If Smith declines to either buy from Jones or bid on the auction, Smith has only deprived himself/herself of a chip they wanted, and for the sole purpose of making a point that will only be evident to themselves.

Jeez, I think I just overthunk it my own self!