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How is this possible?

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The seller is smart. Placed a low starting bid which attracts people then starts a bidding war. Alot of people get competitive regardless of the item. I'll bet the same item wouldn't get a single bid if the starting bid was $500.
 
All of the above.

Excellent condition. Walnut cabinet. Serviced recently. 20-year owner. Nice pics. Low starting bid.
 
Also, when an item has a lot of bids, it attracts even more bidders. They think "it must be something 'Special' to have so many bids".
 
Just 2 bidders willing to put in outrageous bids is all you need for this kind of thing. Seen it so many times. If there had only been one, the price would have been in the $400 range.
 
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