That's more or less what happened the first time the chip was on ebay. It started at $2.25 with no reserve; it ended at $28,988.88 in May of 2008....

here's a link to a story that Sheldon wrote...

http://www.thechipboard.com/archives/archives.pl/bid/318/page/1/md/read/id/715776/sbj/from-the-former-owner-of-the-28k-chip/