Two years ago, I sold a whole tractor for less than that.
It was unrestored and didn't have the correct engine and I felt like I got a good price for it at the time.
Some points of interest ....
That grader blade was in very good condition with a good ID tag on it.
Also it was for sale out on the west cost and the Ridemasters are a lot harder to find out there and implements by themselves are even harder to find.
The grader blade is one of the most sought after implements.
Most of the Ridemasters are located in Michigan, Ohio, Indiana, Illinois and Wisconsin.
Michigan seams to have more Ridemasters than any other state.
Still I do think it got caught up in "auction fever".