Certain unscrupulous sellers are believed to list timeshares with low starting prices and no reserve with the expectation of starting a spirited bidding war (evidence suggests that low starting prices and no reserve encourages bidding). If the auction closes at a low price, these sellers are believed to tell the lucky buyer that the item was not described correctly or is no longer available, but will frequently list an identical unit shortly thereafter (identical down to the same unit number and week).
To the outside world, the eBay result appears to be a very low price, but no one was able to buy at that price.
Of course it is impossible to verify that this actually happens, but eBay is a strange place -- even stranger with private bidding.
