Hi,
I once had a second chance offer, they can only offer the maximum as to what you bid. THe email (uk) came from
[email protected]
and looked like:
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Dear xxxxxxx,
Good news! The following eBay item on which you placed a bid for US $80.00 on Sep-14-04 14:31:14 PDT is now available for purchase:
R3 Wire/Wireless Controller f/ Nikon F5 F100 D1x D2H - ITEM # 3840229628
Second Chance Offer:
The seller, 2bexplicit is making this Second Chance Offer because the high bidder was either unable to complete the transaction or the seller has a duplicate item for sale.
The selling of this item through Second Chance Offer is in compliance with eBay policy; you will be able to exchange Feedback with the seller and will be eligible for all eBay services associated with a transaction, such as fraud protection.
Act Now - This Offer Expires Soon:
To take advantage of this opportunity, please act quickly. This offer expires Sep-16-04 00:05:55 PDT.
You may purchase this item by clicking the "Buy It Now" button in this email or on the following page:
xxx://cgi.ebay.co.uk/ws/eBayISAPI.dll?ViewItem&item=384xxx628&category=15238
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This is a UK eBay email from last year, perhaps similar in US, but could be faked.
Maybe try something like an escrow service, the money you'd potentially save would easily cover it, right

Assuming you actually came second, the buyer could be desperate, but does seem a little unusual to sell so low.
sorry for the long post, hope that helps.
~Jerrold