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eBay is full of people who pay too much for things. I've learned to take an average of prices, and to take individual sales with a huge grain of salt. I still don't think Yamaha will regularly sell for those kinds of prices, at least not that era. Now stuff along the lines of the C4 preamp, yes those still go for too much (Because I'd like to have one, no less).
My favorite is how people are paying ~$100 for the repress of Smashing Pumpkins - Mellon Collie and the Infinite Sadness. You can get it from Amazon new for ~$75.
As to Yamahas being undervalued, I totally agree. But for those prices, I think I'd much rather have a B-2 or maybe even an M-2 and have a $100 or so left over to buy an extra M-4. (Though the 3 M-4s I already have, didn't cost me anywhere near $700 in total)
Prices always go up just before Christmas. People are buying presents and there are only a limited supply. Prices then go way down the day after Christmas, no one has money (they spent it all on Christmas) and they put items up for sale (because they need to recoup the money they spent on Christmas).
Well, I guess I'm someone who is never satisfied with what I have, while I like the new Yamaha, I still like the sound of my Pioneer sx-1010 much better. The Yamaha while very clean sounding and crystal clear with wonderful highs, I feel it lacks bass. Even with the bass nearly maxed out it doesn't have the same punch as the pioneer. Maybe because of no loudness option, but even at higher volume levels it can't compare.
Ooops ! I guess I better go buy my pioneer some flowers and apologize. Baby, I love you !