Hello BP community, this is my first post. I'm just starting out still looking for my first project. 

Recently came across a Detroit land bank home that was in pretty good shape in a decent neighborhood, needed about 20-30k with ARV of ~115k. With bids starting at 1k I was very interested! Of course bidding quickly passed my 30k tap out point.

I wanted to see where this thing went so I watched the rest of the auction. With an hour left bids jumped from around 30k to 50 to 100 with a final bid of 200k.

I am totally confused and wondering if anyone here has any insight as to what happened? Was this some kind of strategy for bumping the previous bidder or just frustrated frenzy over what could have been a stellar deal? Would love to know if there's a part of this process I am missing should another chance like this come up again..

Thanks!