I agree. If the dealer knew what this thing was worth, I think he could have sold the description of it much better. I've done the same thing, bidding on trumpets and horns. I'll wait until there is 5 or 10 minutes left, if it's something I want bad enough. I'm tempted to do that. I will let you know for sure what I decide.
I wonder if it would hurt to make this guy an offer of $200 or so to take it off e-bay for immediate sale. Might be a way to see how much he really thinks he's going to get for it?? Or it might encourage him to a little more research?