[wterrell]

The purchaser of this clip was a collector. The price of the early commercial magazine is portent of things to come and a sign of present conditions of the Luger collecting fraternity. (I am not speaking of Ebay.)
The collecting of Lugers has been driven in large part by the generation of the WWII era. The number of members of this generation is dwindling by attrition. Younger collectors are looking at the Luger and considering its entire history, not just the military use. This different interpretation will place emphasis, importance, and value on the earlier models of the Luger, especially pre-1908.
That, gentlemen, is what we are witnessing, not an aberration caused by online auction. Online auction merely facilitates ease of acquisition and an audience.
(And...what the hell is $400, among friends?)