I'm sure they do understand the risks whether positive or negative (sometimes a press can ruin a book), but the people who do this kind of stuff are more gamblers than investors or flippers or what have you. I can understand folks who pay a strong price for tremendous eye appeal (like a lot of the CVA books) and don't care how much they pay because they simply can afford it. Whatever book is accessible to them in that period of time without doing any research or waiting for another copy to come or something of that nature is really up to the buyer, his/her $. This is why we have a lot of dealers who find books for these deep pocket buyers so they don't have to do any leg work. Sure this sale could be an outlier, but there is also that underbidder who placed their final losing bid. I'm sure that underbidder thinks it is worth more or less this price point whether they see it as a potential upgrade or not, who knows. But to think that every "outlier" or crazy price paid for a book as being 100% upgradeable is false and not always proven true. Just my 2 cents, and I know not everyone agrees with how I think