Gutted for you, but it does show what a good man you are. You win some you lose some.
The moral of the story is; reserve price or classified ad with a buy it now price required
(alternatively, start the sale at the price that covers your costs).
This car was worth 10K all day long. Those that are buying the rot boxes will end up paying 2 or 3 times more then they paid for the vehicle in restoration costs...
Before anyone says - the market sets the price, I think John's been very unfortunate with the number of people who actually bid on the sale, if it was run on another day the outcome could have been vastly different.