eBay and Craigslist finds

I don't think that's what the bid history represents. It means that bidder has put in a higher bid, say £75, and people keep boosting up the current bid by trying to bid against him. So far they have taken him up to £50. If they go over his max bid, then you will see the other bidder's name.

If other people had bid then they would be recorded as bids on the bid history page.

If I see three highest bids all by the same person, I bid just under the top one. That is their max, so be it.
It is a red rag to me.