I can see where Don is coming from, but starting a bid too low on something of this calibre would not have done what was intended, which was to help a friend in need with a maximum benefit.
I think if the series one trading card set can go for $600, there is no reason this couldn't have sold for much higher. Alas, it didn't and as you said, others were available recently for less. Had this not been a special situation, there would have been no need to create this auction. Although he already owns one of these beauties, Don spent another $400 of his own money to do this. In any event the Gordon family still wins.