He's not smoking anything yet. He is quite smart to put a high "buy it now" price. This gets everybody thinking that this vehicle has some value and that they might get a fantastic deal if they buy it for $5K.

The real question is the reserve price. If the reserve is reasonable, say $4K, he will be the one laughing all the way to the bank if it sells for $4K or above.

Let's see what it does.