I wouldn't say it serves the seller right.
The market dictates what a piece goes for. If it's a hot piece that's in demand it would get a high price. I buy pieces at all hours any day of the week. Plus, buyers can also put in their highest bid or use a tool that bids for them. While it's a nice piece, Gene Colan or not, I couldn't see spending more that $100.00 for it myself. Now if you're talking a Gene Colan Dracula, Dr. Strange, Howard the Duck or Daredevil.. they would go for astronomical amounts no matter when the auctions were scheduled to end.
Nice pick up for you though.