While I do not know Burlin and have lost a few auctions to him also, I do not believe he is speculating as you believe.
I think he suffers from the very sickness most all of us have of Hp calculator addicition. He is selling some of his excess to refinance his need for more Hp calculators. And since he is so attached to his FOR SALE calculators to put up high reserves, he then discourages their sale, unless he receives the reserve price.
He usually pays premium via ebay and has been active for quite a while now. So I do not believe he is profiting greatly from his purchases. Therefore I concluded he is just sick (I share that same disease).
Do I like him, hell NO! but then I don't even know him. Is he despicable? Certainly, especially since he seems to have much deeper pockets than me!!!! 8o(
But that is more my problem than his (he wins the calculator and gets the toys!!!)
Ebay doesn't care who has the highest bid, just that there is a bid. The guy who can bid (and pay) the most, gets the prize. When I used to go crazy on ebay, I would also win my share of Junk (ie calculators in less than described shape). I am sure he suffers the same. Does that consoul you any (it does me. 8o) ).