A bunch of rich car collectors adding to their collections. This "spectacle" is the reason every Tom, Dick, and Harry thinks they have gold in their garage.
I believe the first statement is true. The second statement, I don't agree with. There have been some SMOKIN' deals to be had on beautiful cars. I don't consider 30k to be too much for a car which had a 50-60k restoration and there have been plenty of deals like that, or better.
BTW, I have been DVRing the show since Tuesday. The best deals won't be found over the weekend.