Ending the auction early is fairly common practice, It is the sort of thing they (ebay) turn a bit of a blind eye to and they have several reason codes for doing this.
If you are selling a high value item then you pay a lot more in sellers fees if you place a reserve on the item and are then successful in selling it. Makes sense therfore to limit your costs by having no reserve and then hoping that the auction fever or specialist knowledge of the product on sale will do the biz. Sometimes it works, sometimes it doesn't
It may have got fairly close to his 'mental reserve' but not close enough to make it worth his while.
Frustrating for genuine bidders who are hoping for a real bargain.
I buy and sell specialist guitars on ebay so I have seen this sort of thing quite a lot.
Some of the stuff i buy is this sort of value. I would never part company with that amount of dosh without going there and seeing the stuff first hand. If the seller is reluctant/stand offish. Walk away.
If a deal seems to good to be true, it probably is too good to be true. Cliche but a good one.
Are we there yet?