I think it's more of just poor marketing on the sellers than a sudden drop in the market value of 1M's. It would be kind to say the auction poorly written and presented.
That said, it is a reality check for those who think their 1M wil reinvigorate their lackluster 401k's... :-)
2011 E82 1M - AW - loaded
2008 E60 M5 - Interlagos Blue - SMG - loaded
2008 E90 M3 6sp - Jerez Blk/Blk - sold
2003 E46 330i ZHP Sedan - Stock - sold
2005 GMC Sierra Denali - 6.0l - Twin Garrett GT3071r's - smokes all the Beemers...