IMHO, the business objective of an auction house is to get the highest price achievable for an artifact, not necessarily a "market" price. Certain marques and models sold at auction fare worse than private market pricing, others do much better. Everything about an auction is skewed in the seller's favor, not to mention the house itself.
In this case, the only thing we know is that the car met reserve, so two people agreed that the car would change hands at a price. That said, we can all agree that the seller would have preferred a third interested party at the 250k+ level to help drive the price higher, but that bidder did not surface this week.