The price should drop, its common for some sellers to suddenly up the price beyond reasonable or to submit something at a high price, normally one of three reasons for this............
1) they ran out but want to keep the listing, so they use a price that stops people buying
2) there is a 99 limit on items sold before becoming a business seller so if you get near this you up your prices until the next month, this is similar to the deals you get as a seller, if you used up your free this or that then up the price until the next offer.
3) washing money that isnt squeaky clean, now paypal is a separate company to ebay this is becoming common, I have seen some made stuff being brought at many times its true value