Like Darren and probably most on here who found this listing after the fact, I too was puzzled. Having recently ended an ebay auction early that had some bids I was offered two options as follows:
1. end the listing because the item was damaged, not available etc etc or
2. sell to the highest bidder.
So I assume the seller of this GMT chose to end it early by selling to the highest bidder who may have offered to pay the bid price plus a premium. The premium would be added to the Paypal payment and the buyer has the ebay and Paypal protection. Quite a good system really and congrats to the new owner. It looks like a fine piece.
regards
Paul
www.heuerworld.com