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I know the guy too!
The first LCA badge I ever bought on ebay, I got from him. Since then, I have met him in person several times, and he's a very nice guy. As Docroc says, he's a doctor - a cardiologist I believe.
The Sigma Chi pin is from the college where he attended med school. That's one of the reasons he wanted it. He really didn't think it would sell for so much, though. Sometimes people place high bids "just to be sure".
As for the money, maybe the seller is putting his/her kid through college, or donated it to some charity. Who knows. Who cares? The money simply changed hands - it didn't disappear off the face of the earth.
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LCA
"Whenever people agree with me, I always feel I must be wrong."...Oscar Wilde
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