Say I run an auction and have a stack of Item "X" laying on the desk. The bidding goes pretty good, so I just contact the other bidders and say, Do you want to buy this, the high bidder didn't come through.? No fees, easy sale, the price is right.

One thing you can check, if you care to track it, is does the high bidder leave feedback and say great deal, or does the seller leave feedback for the high bidder.

It might be a way to move products.

Yes there is a legit second chance offering feature on eBay.