Really sorry to hear that, man. If more folks were as brutally honest as you, perhaps the hype from the auction houses would get toned-down.
I understand some of the auctions will allow a reserve for a vehicle under $250K. Also trying to squeeze into the auctions in Scottsdale(January) and Pebble Beach(August) will have largest crowds. The political nature of the auctions, however, is the biggest demon. The auctioneers will hype auctions for "preferred" sellers with shills and phony phone bidders in an effort to drive up prices for "selected" vehicles--obviously illegal, but never proven. And, certain repeat sellers get the choice time slots on the choice days.
It seems in your case that the interest wasn't there--either for the crowd and/or the auction house. Once you saw the direction things were headed, was there any way prior to yours heading up the ramp that you could have pulled out, under some pretense, to avoid a catastrophe--maybe having to pay a "fine" to do so?
I didn't see any other FJXX/BJXX vehicles in their line-up as competition for attention--what about the other auction companies?
Just as with gamblers returning from Las Vegas, nobody speaks about the folks who lost heavily, or the cars or the gemstones or the memorabilia that didn't sell at auction for astronomical record-setting prices--not headline-grabbing news. Without a protective reserve, it's gambling, in a game most of us know very little about, have limited experience, limited influence. Yes, there are sometimes huge winners, as in Vegas. But I always come away thinking that the glamorous, ostentatious creation that is the city of Las Vegas, was built with the financial losses of so many unspoken people.
From me, personally, thank-you for enlightening those of us who debate whether we should try the auctions--a vicarious lesson I shall remember.